The Slovak Republic has amended its law on securities and investment services to align with the establishment of the European Single Access Point (ESAP). ESAP provides centralized access to publicly a
슬로바키아 공화국이 유럽 단일 접근 지점(ESAP) 도입에 맞춰 증권 및 투자 서비스 관련 법을 개정했습니다. ESAP은 금융 서비스, 자본 시장, 지속가능성 관련 공개 정보를 한 곳에서 통합적으로 제공하는 시스템입니다. 또한 이번 개정안에는 DAC8 지침에 따라 결제 및 투자 목적의 가상자산에 대한 보고 의무도 포함되었습니다.
유럽 증권 시장 감독청(E
The Slovak Republic has amended its law on securities and investment services to align with the establishment of the European Single Access Point (ESAP). ESAP provides centralized access to publicly available information on financial services, capital markets, and sustainability. The amendment also includes mandatory reporting on crypto-assets for payment and investment purposes, related to the DAC8 Directive.
ESAP, operated by the European Securities and Markets Authority (ESMA), will increase administrative requirements for businesses and public administration to improve product and market transparency. Various entities involved in securities trading and capital market activities must submit specific information to ESAP, including descriptions of legal forms and organizational structures, takeover bid details, shareholder engagement policies, and covered bond information.
The National Bank of Slovakia (NBS) will also be required to disclose information about remedial measures, penalties, and forced administration of securities traders, starting after January 9, 2030.
Certain companies, such as banks, insurance companies, and listed companies exceeding specific size criteria, will be required to submit financial statements, audit reports, annual reports, sustainability reports, and assurance reports to ESAP through a specialized portal operated by the financial directorate. This differs from the current accounting register, where all accounting entities submit documents. The amendment incorporates ESAP obligations into the Commercial Code, the Banking Act, and the Accounting Act. Further details on the ESAP procedure are available on the European ESAP portal.
슬로바키아 공화국이 유럽 단일 접근 지점(ESAP) 도입에 맞춰 증권 및 투자 서비스 관련 법을 개정했습니다. ESAP은 금융 서비스, 자본 시장, 지속가능성 관련 공개 정보를 한 곳에서 통합적으로 제공하는 시스템입니다. 또한 이번 개정안에는 DAC8 지침에 따라 결제 및 투자 목적의 가상자산에 대한 보고 의무도 포함되었습니다.
유럽 증권 시장 감독청(ESMA)이 운영하는 ESAP은 상품 및 시장의 투명성을 높이기 위해 기업과 공공기관의 행정적 부담을 가중시킬 전망입니다. 증권 거래 및 자본 시장 활동에 참여하는 다양한 기관은 법적 형태 및 조직 구조 설명, 공개 매수 정보, 주주 관여 정책, 커버드 본드 정보 등을 ESAP에 의무적으로 제출해야 합니다.
슬로바키아 국립은행(NBS) 역시 2030년 1월 9일 이후부터 증권사에 대한 시정 조치, 벌금, 강제 관리 등에 관한 정보를 공개해야 합니다.
은행, 보험사, 특정 규모 이상의 상장기업 등은 재무제표, 감사 보고서, 연차 보고서, 지속가능성 보고서, 인증 보고서를 재무국이 운영하는 전용 포털을 통해 ESAP에 제출해야 합니다. 이는 모든 회계 주체가 문서를 제출하는 현행 회계 등록 시스템과는 다릅니다. 이번 개정으로 ESAP 관련 의무사항이 상법, 은행법, 회계법에 통합되었습니다. ESAP 절차에 대한 자세한 내용은 유럽 ESAP 포털에서 확인할 수 있습니다.
Several short-term changes impacting employment, income taxation, and state budget contributions were approved between May and June. These include improvements to the employment of third-country natio
지난 5월과 6월 사이, 고용, 소득세, 국가 재정과 관련된 몇 가지 단기 개정안이 승인되었습니다. 주요 내용으로는 제3국 국적자 고용 절차 개선, 국가 비자 유효기간 90일에서 120일로 연장, 사업 목적의 임시 거주 허가 기간 2년에서 4년으로 확대 등이 포함됩니다. 또한 2025년 9월 1일부터 고용주는 관련 신고를 'slovensko.sk' 포털을
Several short-term changes impacting employment, income taxation, and state budget contributions were approved between May and June. These include improvements to the employment of third-country nationals, extending the validity of national visas from 90 to 120 days and introducing quotas for temporary residence permits for business purposes, increasing them from 2 to 4 years. Employers will be required to submit notifications electronically via slovensko.sk from September 1, 2025.
The maximum guaranteed insurance benefit will increase to €4,572 from July 1, 2025. Amendments to the law on support during shortened work hours (Kurzarbeit) have also been approved, requiring employers to demonstrate unforeseeable transnational economic circumstances. Financial contributions to professional foster parents for housing adjustments will be income tax-exempt from January 1, 2026.
Amendments to employment services laws incentivize the long-term unemployed to accept job offers, potentially impacting social benefits. A motivational and financial contribution for citizens participating in defense and security reserves will be tax-exempt from July 1, 2025.
Local development fees have been adjusted with a new upper limit and an inflation coefficient. Changes related to industrial property laws, including the introduction of legal regulations for compensation of litigation costs and revisions to maintenance and administrative fees, will take effect on July 1, 2025.
지난 5월과 6월 사이, 고용, 소득세, 국가 재정과 관련된 몇 가지 단기 개정안이 승인되었습니다. 주요 내용으로는 제3국 국적자 고용 절차 개선, 국가 비자 유효기간 90일에서 120일로 연장, 사업 목적의 임시 거주 허가 기간 2년에서 4년으로 확대 등이 포함됩니다. 또한 2025년 9월 1일부터 고용주는 관련 신고를 'slovensko.sk' 포털을 통해 온라인으로만 제출해야 합니다.
2025년 7월 1일부터 보장 보험의 최대 수령액이 4,572유로로 인상됩니다. 단축 근무 지원 제도(Kurzarbeit) 관련법도 개정되어, 앞으로 고용주는 예측 불가능한 국제 경제 상황이 발생했음을 증명해야 지원을 받을 수 있습니다. 전문 위탁가정이 주거 환경 개선을 위해 받는 지원금은 2026년 1월 1일부터 소득세가 면제됩니다.
고용 서비스 관련법 개정을 통해 장기 실업자의 구직 활동을 장려하며, 이는 사회 보장 수당에 영향을 줄 수 있습니다. 국방 및 안보 분야 예비군 참여자에게 지급되는 격려금 및 재정 지원금은 2025년 7월 1일부터 비과세 혜택이 적용됩니다.
지역 개발 부담금은 새로운 상한액과 물가상승률이 적용되어 조정되었습니다. 산업재산권법 관련 변경 사항으로 소송 비용 보상 규정이 신설되고 유지 및 행정 수수료가 개정되며, 이는 2025년 7월 1일부터 시행됩니다.
The European Commission has updated its list of high-risk countries with strategic deficiencies in their AML/CFT regimes, known as the "grey" and "black" lists. EU entities subject to AML regulations
유럽연합 집행위원회(EC)는 자금세탁방지 및 테러자금조달금지(AML/CFT) 체제에 중요한 미비점이 있는 고위험 국가 명단, 즉 '그레이리스트'와 '블랙리스트'를 최근 업데이트했습니다. EU의 관련 규제를 적용받는 기관들은 이 국가들과의 거래에 대해 강화된 고객확인 의무를 이행해야 합니다. 이 제도는 EU 금융 시스템의 안전성을 보호하기 위한 것입니다.
The European Commission has updated its list of high-risk countries with strategic deficiencies in their AML/CFT regimes, known as the "grey" and "black" lists. EU entities subject to AML regulations must apply enhanced due diligence to transactions involving these countries. This system protects the EU's financial system.
The updated "grey list" sees the removal of the United Arab Emirates, Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, and Uganda, signaling the EU's recognition of their improved AML/CFT frameworks and regulatory controls. This delisting brings benefits such as reduced regulatory scrutiny, smoother cross-border operations, and sustained international financial competitiveness. Croatia, Mali, and Tanzania have also been removed from the monitoring list. The complete list of countries under increased surveillance is published by the FATF.
The "black list" includes North Korea, Iran, and Myanmar (Burma), countries with the most severe strategic deficiencies in combating money laundering, terrorist financing, and the proliferation of weapons of mass destruction. The FATF urges member states to apply enhanced due diligence and, in serious cases, countermeasures to protect the international financial system. The next assessment will be published after the plenary meeting in October 2025.
유럽연합 집행위원회(EC)는 자금세탁방지 및 테러자금조달금지(AML/CFT) 체제에 중요한 미비점이 있는 고위험 국가 명단, 즉 '그레이리스트'와 '블랙리스트'를 최근 업데이트했습니다. EU의 관련 규제를 적용받는 기관들은 이 국가들과의 거래에 대해 강화된 고객확인 의무를 이행해야 합니다. 이 제도는 EU 금융 시스템의 안전성을 보호하기 위한 것입니다.
이번에 업데이트된 '그레이리스트(감시 강화 대상 국가)'에서는 아랍에미리트, 바베이도스, 지브롤터, 자메이카, 파나마, 필리핀, 세네갈, 우간다 등이 제외되었습니다. 이는 해당 국가들의 자금세탁방지 체계와 규제가 개선되었음을 EU가 인정한 것을 의미하며, 지정이 해제된 국가들은 규제 부담 완화, 원활한 국가 간 금융 거래, 국제 금융 경쟁력 유지 등의 혜택을 받게 됩니다. 크로아티아, 말리, 탄자니아 역시 감시 명단에서 제외되었습니다. 감시 강화 대상 국가 전체 명단은 국제자금세탁방지기구(FATF)에서 발표합니다.
'블랙리스트(고위험 국가)'에는 북한, 이란, 미얀마가 포함되어 있습니다. 이 국가들은 자금세탁, 테러 자금 조달, 대량살상무기 확산 방지 체계에 가장 심각한 결함을 안고 있습니다. 국제자금세탁방지기구는 모든 회원국이 이들 국가와 거래 시 강화된 고객확인을 적용하고, 심각한 경우에는 국제 금융 시스템 보호를 위한 대응 조치를 취할 것을 강력히 권고하고 있습니다. 다음 평가는 2025년 10월 총회 이후 발표될 예정입니다.
Temporary Extraordinary Contribution to the Environmental Fund
環境臨時特別拠出金
环境基金临时特别供款
환경 기금 임시 특별 부담금
30.06.2025
The Slovak Parliament has approved a government bill introducing a 6-month amnesty for deregistering non-existent vehicles. Currently, a €500 fee is required for deregistering vehicles that no longer
슬로바키아 의회는 사실상 존재하지 않는 차량의 등록을 말소할 수 있도록 6개월간 한시적 특별 조치를 도입하는 정부 법안을 승인했습니다. 현재 이러한 차량을 말소하려면 폐차 처리 과정에서 발생하는 폐기물을 관리하는 환경 기금으로 500유로의 수수료를 납부해야 합니다.
폐기물 관리법에 따라, 차량이 등록 말소 이전에 이미 없어졌거나 소유자가 폐차 사실을 증명
The Slovak Parliament has approved a government bill introducing a 6-month amnesty for deregistering non-existent vehicles. Currently, a €500 fee is required for deregistering vehicles that no longer exist, contributing to the Environmental Fund for waste processing from vehicle scrapping.
The legislation, linked to waste management regulations, mandates this fee if a vehicle ceased to exist before deregistration or if the owner cannot prove its disposal.
A temporary reduction of the fee is introduced, decreasing it from €500 to €50 for a limited period between July 15, 2025, and January 14, 2026, due to an exception granted by the EU. During this time, the procedures outlined in the Ministry of Environment's regulation regarding waste recycling contributions from vehicles will be suspended. The obligation to apply for a decision on the non-existence of a vehicle does not apply to inherited vehicles. Contact information for further assistance is provided.
슬로바키아 의회는 사실상 존재하지 않는 차량의 등록을 말소할 수 있도록 6개월간 한시적 특별 조치를 도입하는 정부 법안을 승인했습니다. 현재 이러한 차량을 말소하려면 폐차 처리 과정에서 발생하는 폐기물을 관리하는 환경 기금으로 500유로의 수수료를 납부해야 합니다.
폐기물 관리법에 따라, 차량이 등록 말소 이전에 이미 없어졌거나 소유자가 폐차 사실을 증명하지 못하는 경우 이 수수료가 의무적으로 부과됩니다.
유럽연합(EU)의 예외 승인에 따라 2025년 7월 15일부터 2026년 1월 14일까지 한시적으로 수수료가 500유로에서 50유로로 인하됩니다. 이 기간 동안에는 차량 폐기물 재활용 분담금과 관련된 환경부 규정 절차의 적용이 중단됩니다. 상속받은 차량에는 이러한 차량 부존재 확인 신청 의무가 적용되지 않습니다. 추가적인 도움이 필요한 경우를 위해 관련 연락처가 제공됩니다.
In early June 2025, the Slovak Parliament approved a government bill amending the excise duty law on electricity, coal, and natural gas. The aim is to reduce administrative burdens for consumers durin
2025년 6월 초, 슬로바키아 의회는 전기, 석탄, 천연가스에 대한 소비세법 개정안을 승인했습니다. 이번 개정안은 소비자의 등록 절차상 행정적 부담을 줄이고, 최신 동향에 맞춰 법률을 현대화하며, 전자 행정 절차를 활성화하는 것을 목표로 합니다.
개정안은 '전력 회사', '전력 공급자', '가스 회사', '가스 공급자'와 같은 용어를 새롭게 정의합니다.
In early June 2025, the Slovak Parliament approved a government bill amending the excise duty law on electricity, coal, and natural gas. The aim is to reduce administrative burdens for consumers during registration, adapt legislation to current trends, and promote electronic processes.
The amendment introduces new definitions like "electricity company," "electricity supplier," "gas company," and "gas supplier." It exempts from taxation electricity produced or consumed by an entity with a total installed capacity not exceeding 5 MWh, excluding electricity generated from coal, natural gas, or mineral oil.
The bill mandates registration for authorized consumers of tax-exempt electricity, coal, and natural gas. Applicants must provide details on usage, consumption volume, meter number, business license, and a declaration confirming the electricity's exclusive use for specified purposes. The Bratislava Customs Office must process applications within 30 days. Suppliers cannot provide tax-exempt electricity to authorized consumers without a permit, except for household end-users.
The law specifies conditions under which the right to use tax-exempt electricity ceases, including business registry deletion, bankruptcy, liquidation, repeated misuse, or failure to pay penalties. The definition and tax rates for natural gas are updated, differentiating rates based on usage: heating fuel (€1.32/MWh), motor fuel (€9.36/MWh), and other purposes (€1.32/MWh). The law takes effect on July 1, 2025.
Summary:
The Slovak Parliament passed an amendment to the excise duty law on electricity, coal, and natural gas, effective July 1, 2025. This aims to simplify registration for consumers, modernize the legislation, and encourage digital processes within the energy sector. Key changes include new definitions for energy companies and suppliers, an electricity tax exemption for small producers (under 5 MWh), and mandatory registration for authorized consumers using tax-exempt energy. Applicants must provide usage details and ensure compliance. The Bratislava Customs Office is responsible for permit processing. The law outlines conditions for permit termination, such as business closure or misuse. Furthermore, the law updates the definition of natural gas and sets differentiated tax rates based on its usage as heating or motor fuel. This amendment seeks to streamline procedures, prevent misuse, and adapt to evolving energy practices.
2025년 6월 초, 슬로바키아 의회는 전기, 석탄, 천연가스에 대한 소비세법 개정안을 승인했습니다. 이번 개정안은 소비자의 등록 절차상 행정적 부담을 줄이고, 최신 동향에 맞춰 법률을 현대화하며, 전자 행정 절차를 활성화하는 것을 목표로 합니다.
개정안은 '전력 회사', '전력 공급자', '가스 회사', '가스 공급자'와 같은 용어를 새롭게 정의합니다. 또한 총 설비 용량 5MWh를 초과하지 않는 사업자가 생산하거나 소비하는 전력에 대해 세금을 면제하지만, 석탄, 천연가스, 광물유로 생산된 전력은 면세 대상에서 제외됩니다.
면세 대상 전기, 석탄, 천연가스를 사용하는 '승인된 소비자'는 의무적으로 등록해야 합니다. 신청자는 사용 용도, 소비량, 계량기 번호, 사업자 면허 등의 정보를 제공하고, 해당 전력이 지정된 목적으로만 사용된다는 서약서를 제출해야 합니다. 브라티슬라바 세관은 30일 이내에 신청을 처리해야 하며, 공급업체는 가정용 최종 사용자를 제외하고는 허가 없이 승인된 소비자에게 면세 전력을 공급할 수 없습니다.
이 법은 사업자 등록 말소, 파산, 청산, 반복적인 규정 위반, 과태료 미납 등의 경우 면세 전력 사용 권리가 소멸되는 조건들을 명시합니다. 천연가스에 대한 정의와 세율도 개정되어, 난방용 연료(MWh당 1.32유로), 차량용 연료(MWh당 9.36유로), 기타 목적(MWh당 1.32유로)으로 용도에 따라 세율을 차등 적용합니다. 이 법은 2025년 7월 1일부터 시행됩니다.
**요약:**
슬로바키아 의회가 전기, 석탄, 천연가스에 대한 소비세법 개정안을 통과시켰으며, 2025년 7월 1일부터 시행됩니다. 이 개정안은 소비자의 등록 절차를 간소화하고, 관련 법규를 현대화하며, 에너지 부문의 디지털화를 촉진하는 데 목적이 있습니다. 주요 변경 사항으로는 에너지 회사 및 공급자에 대한 새로운 정의 신설, 소규모 생산자(5MWh 미만)에 대한 전력세 면제, 면세 에너지를 사용하는 승인된 소비자에 대한 의무 등록 제도 도입 등이 있습니다. 신청자는 사용 내역을 상세히 제출하고 규정을 준수해야 하며, 허가 절차는 브라티슬라바 세관이 담당합니다. 또한, 사업 폐쇄나 규정 위반 등 허가 취소 조건도 명시하고 있습니다. 더불어 천연가스의 정의를 갱신하고 난방용 및 차량용 등 용도에 따라 세율을 차등 적용합니다. 이번 개정안은 관련 절차를 효율화하고 부정 사용을 방지하며, 변화하는 에너지 환경에 대응하기 위해 마련되었습니다.
In late May, the Slovak Parliament approved a bill introducing a "super deduction" for investments in sports, aiming to incentivize private sector funding. Modeled after similar schemes in research an
지난 5월 말, 슬로바키아 의회는 민간 부문의 스포츠 투자를 활성화하기 위해 '스포츠 투자 특별 세액공제' 법안을 통과시켰습니다. 이 제도는 연구개발(R&D) 분야의 유사한 세금 혜택 제도를 본떠 스포츠 부문에 대한 민간 재원 유입을 확대하는 것을 목표로 합니다.
새 법안에 따르면, 법인 및 사업 소득이 있는 개인은 기존의 후원 제도와 더불어 스포츠 활동
In late May, the Slovak Parliament approved a bill introducing a "super deduction" for investments in sports, aiming to incentivize private sector funding. Modeled after similar schemes in research and development, it seeks to boost private resources in the sports sector.
The super deduction, detailed in new legislation, allows corporations and self-employed individuals with business income to deduct expenses related to sports activities, alongside existing sponsorship options. Key conditions include a positive tax base, documented expenses in accounting, and ineligibility for public benefit organizations also claiming tax relief as registered social enterprises.
The deduction is capped at 50% of expenses, up to €250,000 per tax period. Non-monetary contributions to sports organizations are considered tax-deductible, even if lacking direct connection to taxable income. The Financial Administration will publish lists of taxpayers utilizing the deduction and the sports organizations they support.
Eligible expenses must be separately accounted for and exclude those receiving public funding. Only non-monetary contributions, sports equipment and facilities, are covered. Concurrently, the bill modifies income tax exemptions for trainers, capping tax-free income at €300 per month from all employers. A corresponding deductible item for social insurance is also defined. Sports support expenses are tax-deductible only after payment and following sponsorship rules.
The amendment takes effect on January 1, 2026, impacting income from that period onward, including adjustments to payroll forms to accommodate the new income category for tax-exempt trainer earnings.
지난 5월 말, 슬로바키아 의회는 민간 부문의 스포츠 투자를 활성화하기 위해 '스포츠 투자 특별 세액공제' 법안을 통과시켰습니다. 이 제도는 연구개발(R&D) 분야의 유사한 세금 혜택 제도를 본떠 스포츠 부문에 대한 민간 재원 유입을 확대하는 것을 목표로 합니다.
새 법안에 따르면, 법인 및 사업 소득이 있는 개인은 기존의 후원 제도와 더불어 스포츠 활동 관련 비용을 추가로 공제받을 수 있습니다. 주요 조건으로는 과세 대상 소득이 있어야 하고, 관련 비용이 회계 장부에 명확히 기록되어야 합니다. 단, 사회적 기업으로 등록되어 이미 세금 감면 혜택을 받는 공익 단체는 중복 적용이 불가능해 대상에서 제외됩니다.
공제 한도는 지출 비용의 50%이며, 과세 기간당 최대 25만 유로입니다. 스포츠 단체에 대한 현물 기부 역시 과세 소득과 직접적인 관련이 없더라도 세금 공제 대상으로 인정됩니다. 재무 당국은 이 제도를 활용하는 납세자와 이들이 후원하는 스포츠 단체의 명단을 공개할 예정입니다.
공제 대상 비용은 별도로 회계 처리해야 하며, 정부 지원금을 받은 비용은 제외됩니다. 공제 혜택은 스포츠 장비 및 시설과 같은 현물 기부에만 한정됩니다. 한편, 이번 법안 개정으로 스포츠 지도자의 소득세 비과세 한도도 변경됩니다. 모든 소득원을 합산하여 월 300유로까지만 비과세 혜택이 적용되며, 이에 맞춰 사회 보험료 공제 항목도 신설됩니다. 스포츠 후원 비용은 실제 지출이 완료된 후, 기존 후원 규정에 따라 세금 공제를 받을 수 있습니다.
이 개정안은 2026년 1월 1일부터 시행되며, 해당 시점 이후에 발생하는 소득부터 적용됩니다. 또한, 지도자의 비과세 소득 항목이 새로 추가됨에 따라 급여 명세서 양식도 함께 변경될 예정입니다.
The Slovak government has implemented several amendments and updates to laws related to financial and social policies, primarily aimed at improving life in Slovakia through revenue collection and clar
슬로바키아 정부가 국민 생활 수준 향상, 세수 확보, 특정 기관의 의무 명확화를 목표로 재정 및 사회 정책 관련 법률을 개정했습니다.
주요 변경 내용은 다음과 같습니다.
* **비영리 단체 회계 기준 변경:** 2025년 6월 1일부터 새로운 회계 기준이 도입됩니다. 비영리 단체는 매년 6월 30일까지 수입 및 기부자 정보를 포함한 투명성 보고서를
The Slovak government has implemented several amendments and updates to laws related to financial and social policies, primarily aimed at improving life in Slovakia through revenue collection and clarifying definitions and obligations for specific entities.
Key changes include: New accounting statements for the non-profit sector effective June 1, 2025, requiring transparency reports with income and donor information to be submitted by June 30 annually. Failure to comply can result in fines, starting at €1,000 and escalating for repeated offenses. Clarification of income types for athletes and sports experts, effective January 1, 2026, categorizing certain incomes as self-employment income. Amateur athletes under contract may be considered as performing dependent work. Increased support for rental housing, allowing employers to contribute up to €5.23/m2 for state-supported rental housing, adjusted annually for inflation, with specific conditions for eligibility. Finally, the assessment of product safety for tax expense purposes now aligns with the European Parliament and Council regulation on general product safety, requiring companies to use EU methodology when defining hazardous inventory.
슬로바키아 정부가 국민 생활 수준 향상, 세수 확보, 특정 기관의 의무 명확화를 목표로 재정 및 사회 정책 관련 법률을 개정했습니다.
주요 변경 내용은 다음과 같습니다.
* **비영리 단체 회계 기준 변경:** 2025년 6월 1일부터 새로운 회계 기준이 도입됩니다. 비영리 단체는 매년 6월 30일까지 수입 및 기부자 정보를 포함한 투명성 보고서를 의무적으로 제출해야 합니다. 위반 시 최소 1,000유로부터 과태료가 부과되며, 반복 위반 시 금액이 가중됩니다. * **운동선수 소득 유형 명확화:** 2026년 1월 1일부터 운동선수 및 스포츠 전문가의 소득 유형 규정이 명확해집니다. 특정 소득은 자영업 소득으로 분류되며, 계약을 맺은 아마추어 선수는 경우에 따라 근로소득자로 간주될 수 있습니다. * **임대 주택 지원 확대:** 고용주가 국가 지원 임대 주택에 거주하는 직원을 위해 1제곱미터당 최대 5.23유로까지 임대료를 지원할 수 있게 됩니다. 이 지원 한도는 매년 물가상승률을 반영하여 조정되며, 특정 자격 요건을 충족해야 합니다. * **제품 안전성 평가 기준 변경:** 세무상 비용 처리를 위한 제품 안전성 평가 기준이 유럽연합(EU)의 일반 제품 안전 규정에 맞춰 변경됩니다. 이에 따라 기업은 유해 재고를 규정할 때 반드시 EU의 평가 기준을 따라야 합니다.
The Economic and Financial Affairs Council (ECOFIN) has adopted the DAC9 directive, an EU initiative aimed at enhancing administrative cooperation in tax matters. This directive establishes a framewor
유럽연합(EU) 경제재무이사회(ECOFIN)가 조세 분야 행정 협력 강화를 위한 새로운 지침(DAC9)을 채택했습니다. 이 지침은 G20/OECD의 '필라 2' 체계에 따라 다국적 기업 및 대규모 국내 기업 그룹에 대한 최저 유효 법인세율 관련 정보를 회원국 간에 교환하기 위한 제도입니다. 이를 통해 조세 협력을 강화하고 기업들의 규정 준수를 보장하는 것을
The Economic and Financial Affairs Council (ECOFIN) has adopted the DAC9 directive, an EU initiative aimed at enhancing administrative cooperation in tax matters. This directive establishes a framework for exchanging information on the minimum effective taxation of corporate income among EU member states, marking a significant advancement from the initial proposal of October 28, 2024. DAC9 aims to improve tax cooperation and ensure compliance for multinational and large domestic groups, aligning with the G20/OECD's Pillar II framework.
A key feature is the implementation of a standardized Globe Information Return (GIR) form, expected to be released in January 2025, facilitating the automatic exchange of tax-related information. It also aims to prevent tax base erosion and profit shifting, enforce minimum taxation for multinationals, and ensure adherence to Pillar II rules. The directive streamlines reporting for large corporations and improves information exchange between tax authorities. DAC9 confirms the international move toward a minimum effective tax rate of 15% on profits for large multinational and domestic groups with annual revenues of at least EUR 750 million.
The GIR form is designed to report necessary tax information for ensuring the proper functioning of the minimum corporate income tax rate system and includes a TTIR (Supplementary Tax Information Return) format. The TTIR enables tax administrations to assess risks and accurately evaluate tax liabilities. Multinational companies can file a centralized TTIR for the entire group through the ultimate parent entity or a designated filing entity. Member states must transpose the directive into national law by December 31, 2025, with the directive taking effect on January 1, 2026, and the first information exchange occurring by June 30, 2026.
유럽연합(EU) 경제재무이사회(ECOFIN)가 조세 분야 행정 협력 강화를 위한 새로운 지침(DAC9)을 채택했습니다. 이 지침은 G20/OECD의 '필라 2' 체계에 따라 다국적 기업 및 대규모 국내 기업 그룹에 대한 최저 유효 법인세율 관련 정보를 회원국 간에 교환하기 위한 제도입니다. 이를 통해 조세 협력을 강화하고 기업들의 규정 준수를 보장하는 것을 목표로 합니다.
DAC9 지침은 연 매출 7억 5,000만 유로 이상의 대규모 기업 그룹에 대해 15%의 최저 유효세율을 적용하는 국제적 흐름을 공식화했으며, 세원 잠식과 소득 이전을 방지하고 다국적 기업에 대한 최저한세 적용을 강제합니다.
핵심 내용은 2025년 1월 공개 예정인 표준 '글로벌 정보 보고서(GIR)' 양식의 도입으로, 이를 통해 대기업의 보고 절차를 간소화하고 과세 당국 간 정보 교환을 개선합니다. GIR 보고서에는 최저 법인세율 제도의 원활한 운영에 필요한 세무 정보가 담기며, 과세 당국이 조세 회피 위험을 평가하고 납세액을 정확히 산정할 수 있도록 돕는 '보충 세무 정보 보고서(TTIR)' 형식이 포함됩니다. 다국적 기업은 최종 모기업이나 지정된 법인을 통해 그룹 전체의 TTIR을 통합 제출할 수 있습니다.
EU 회원국은 2025년 12월 31일까지 이 지침을 국내법으로 제정해야 하며, 2026년 1월 1일부터 시행됩니다. 첫 정보 교환은 2026년 6월 30일까지 이루어질 예정입니다.
The Slovak Ministry of Environment is developing an Authorisation Management Module for the CBAM registry. Official applications can be submitted from March 31, 2025. Importers of goods from third cou
슬로바키아 환경부는 탄소국경조정제도(CBAM)를 위한 인증 관리 시스템을 개발 중이며, 2025년 3월 31일부터 정식 신청이 가능합니다. 이에 따라 CBAM의 규제를 받는 제3국 상품 수입업자는 강화된 통관 절차 및 법규 변경에 대비해야 합니다.
탄소국경조정제도(CBAM)는 EU 역외 국가에서 수입되는 특정 품목에 적용됩니다. 대상 품목은 시멘트, 전력
The Slovak Ministry of Environment is developing an Authorisation Management Module for the CBAM registry. Official applications can be submitted from March 31, 2025. Importers of goods from third countries subject to carbon border adjustment face increased legislative adjustments affecting customs processes. The Carbon Border Adjustment Mechanism (CBAM) applies to specific goods entering the EU from third countries, including cement, electricity, fertilizers, iron, steel, and hydrogen, as well as materials needed for their production. It targets direct emissions from production processes and indirect emissions from electricity used during production. Exemptions include goods valued under 150 EUR and goods in travelers' personal luggage not exceeding this value.
Importers or their indirect customs representatives must apply for CBAM-approved declarant status, valid across the EU. The EU recommends early application due to a potentially lengthy approval process (up to 180 days). Registration is advised before importing goods subject to CBAM from January 1, 2026.
Obligations include applying for CBAM-approved declarant status via the CBAM registry, reporting any changes to the registry, submitting quarterly reports on imported goods and their emissions during the transitional period (October 1, 2023 – December 31, 2025), and after this period, possessing CBAM certificates equal to the carbon value of the imported goods. Annual reports are due by May 31st each year. Records must be kept for four years. Penalties exist for non-compliance, including fines of 100 EUR per ton of CO2 equivalent and potential import suspension.
슬로바키아 환경부는 탄소국경조정제도(CBAM)를 위한 인증 관리 시스템을 개발 중이며, 2025년 3월 31일부터 정식 신청이 가능합니다. 이에 따라 CBAM의 규제를 받는 제3국 상품 수입업자는 강화된 통관 절차 및 법규 변경에 대비해야 합니다.
탄소국경조정제도(CBAM)는 EU 역외 국가에서 수입되는 특정 품목에 적용됩니다. 대상 품목은 시멘트, 전력, 비료, 철강, 수소 및 이들 제품의 생산에 필요한 원자재 등입니다. 이 제도는 생산 공정에서 발생하는 직접 배출량과 생산에 사용된 전력으로 인한 간접 배출량을 모두 규제합니다. 다만, 150유로 미만의 소액 상품이나 여행자 개인 수하물에 포함된 동일 가치 이하의 물품은 적용 대상에서 제외됩니다.
수입업자 또는 간접 통관 대리인은 'CBAM 승인 신고인' 자격을 신청해야 하며, 이 자격은 EU 전역에서 유효합니다. EU는 승인 절차가 최대 180일까지 소요될 수 있으므로 조기 신청을 권고하고 있습니다. 특히 2026년 1월 1일부터 CBAM 적용 대상 품목을 수입하려는 경우, 사전에 등록을 마치는 것이 좋습니다.
수입업자의 주요 의무는 다음과 같습니다. * CBAM 공식 등록 시스템을 통해 '승인 신고인' 자격 신청 * 등록 정보 변경 시 신고 * 전환기간(2023년 10월 1일 ~ 2025년 12월 31일) 동안 수입품 및 관련 배출량에 대한 분기별 보고서 제출 * 전환기간 이후, 수입품의 탄소 배출량에 상응하는 CBAM 인증서 구매 및 제출 * 매년 5월 31일까지 연간 보고서 제출 * 관련 기록 4년간 보관
이러한 의무를 이행하지 않을 경우, 배출량에 대해 이산화탄소 환산톤(tCO2e)당 100유로의 벌금이 부과되거나 수입 금지 조치가 내려질 수 있습니다.
Based on data from the Statistical Office of the Slovak Republic, the condition for increasing the basic compensation for using motor vehicles on business trips was met for March 2025. Therefore, the
슬로바키아 통계청 데이터에 따라, 2025년 3월부로 업무 출장 시 개인 차량 운행비에 대한 기본 보상액 인상 요건이 충족되었습니다. 이에 노동부는 2025년 6월 1일부터 차량 운행 기본 보상액(유류비 외 주행 수당)을 다음과 같이 인상합니다.
기존 보상액은 2025년 3월 1일부터 5월 31일까지 유효했으며, 새로운 보상액은 2025년 6월 1일부터
Based on data from the Statistical Office of the Slovak Republic, the condition for increasing the basic compensation for using motor vehicles on business trips was met for March 2025. Therefore, the Ministry of Labor is increasing the basic compensation rate for using a motor vehicle.
The basic compensation amount (mileage allowance) changes from June 1, 2025.
The amount of basic compensation for every 1 km driven will change from June 1, 2025, replacing the original values valid from March 1, 2025, to May 31, 2025, as follows:
Vehicle Type | Previous "Mileage" | New "Mileage" ------- | -------- | -------- Single-track and two-wheeled vehicles and tricycles | EUR 0.080 | EUR 0.085 Passenger road motor vehicles | EUR 0.281 | EUR 0.296
Every employee who uses a private motor vehicle for business trips is entitled to compensation upon agreement with the employer.
Note: Compensation is calculated for each started kilometer, and the employee is also entitled to compensation for fuel consumed.
More information about the increase in basic compensation is available on the Ministry of Labor's website. Contact the Ministry via the contact form for assistance. *** Summary:
Due to data from the Slovak Republic's Statistical Office indicating that conditions for increasing compensation for vehicle use during business trips were met in March 2025, the Ministry of Labor will raise the basic mileage allowance starting June 1, 2025. For single-track, two-wheeled vehicles and tricycles, the new rate is EUR 0.085 per kilometer, up from EUR 0.080. The rate for passenger vehicles increases from EUR 0.281 to EUR 0.296 per kilometer. Employees using their own vehicles for business purposes, with employer agreement, are eligible for this compensation, calculated per commenced kilometer and including fuel costs. Further details are available on the Ministry of Labor's website, and they can be contacted through the provided form.
슬로바키아 통계청 데이터에 따라, 2025년 3월부로 업무 출장 시 개인 차량 운행비에 대한 기본 보상액 인상 요건이 충족되었습니다. 이에 노동부는 2025년 6월 1일부터 차량 운행 기본 보상액(유류비 외 주행 수당)을 다음과 같이 인상합니다.
기존 보상액은 2025년 3월 1일부터 5월 31일까지 유효했으며, 새로운 보상액은 2025년 6월 1일부터 적용됩니다.
**주행 거리 1km당 기본 보상액 변경 내용**
| 차량 종류 | 기존 보상액 | 신규 보상액 | | :--- | :--- | :--- | | 이륜차 및 삼륜차 | 0.080 유로 | 0.085 유로 | | 승용차 | 0.281 유로 | 0.296 유로 |
고용주와 합의 하에 개인 차량을 업무 출장에 사용하는 직원은 누구나 인상된 보상액을 지급받을 수 있습니다.
참고: 보상액은 실제 주행 거리를 기준으로 계산되며, 소모된 유류비는 별도로 보상받을 수 있습니다.
자세한 내용은 노동부 웹사이트에서 확인 가능하며, 문의는 웹사이트 내 문의 양식을 이용해 주시기 바랍니다. *** **요약:**
슬로바키아 통계청의 데이터에 따라 2025년 3월부로 업무용 차량 운행비 보상액 인상 요건이 충족되어, 노동부는 2025년 6월 1일부터 기본 주행 수당을 인상합니다. 이륜차 및 삼륜차는 km당 0.080유로에서 0.085유로로, 승용차는 km당 0.281유로에서 0.296유로로 인상됩니다. 고용주와 합의 후 개인 차량을 업무에 사용하는 직원은 실제 주행 거리에 따라 이 보상액을 받을 수 있으며, 유류비는 별도로 지급됩니다. 더 자세한 정보 및 문의는 노동부 웹사이트를 통해 가능합니다.
지난 5월 8일부터 9일까지 Martin Kiňo와 Zuzana Majerová가 Moore Global Tax Academy에 참가했습니다.
이틀간 Martin Kiňo는 이론과 실제 사례를 아우르며 국제 기업세에 대한 발표를 진행했습니다. 유럽, 아시아, 미국 등 전 세계에서 온 참가자들은 이전 가격(transfer pricing), 부가가치세(VAT
On May 8-9, Martin Kiňo, along with Zuzana Majerová, attended the Moore Global Tax Academy.
Over the two days, Martin presented on international corporate tax topics, incorporating both theoretical aspects and real-world case studies. Colleagues and students from across Europe, Asia, and the USA gained valuable insights into key international tax issues, including transfer pricing, VAT, and specific examples of double taxation and the movement of workers between countries.
As part of her studies at the academy, Zuzana Majerová worked on a case study concerning income from foreign licenses and transfer pricing. This allowed students to discuss practical solutions and present them to each other.
The academy is an annual event organized by Moore Global that aids in the development of young talent, facilitates networking within the global network, and provides a platform to present their findings. Contact information is available for readers to reach out to specialists for assistance.
Summary:
Martin Kiňo and Zuzana Majerová participated in the Moore Global Tax Academy on May 8-9. Martin presented on international corporate tax, using theoretical knowledge and practical case studies. Attendees from Europe, Asia, and the USA learned about transfer pricing, VAT, double taxation, and cross-border worker mobility. Zuzana developed a case study on foreign license income and transfer pricing, enabling student-led discussions on practical solutions. The academy fosters young talent, networking, and presentation skills. Moore Global organizes this yearly event. The article encourages readers to contact specialists for assistance via a contact form. Feedback on the article's usefulness is solicited.
지난 5월 8일부터 9일까지 Martin Kiňo와 Zuzana Majerová가 Moore Global Tax Academy에 참가했습니다.
이틀간 Martin Kiňo는 이론과 실제 사례를 아우르며 국제 기업세에 대한 발표를 진행했습니다. 유럽, 아시아, 미국 등 전 세계에서 온 참가자들은 이전 가격(transfer pricing), 부가가치세(VAT), 이중 과세, 국가 간 인력 이동 등 주요 국제 조세 문제에 대한 깊이 있는 통찰력을 얻었습니다.
Zuzana Majerová는 아카데미 연수 과정의 일환으로 해외 라이선스 소득과 이전 가격에 관한 사례 연구에 참여했습니다. 이를 통해 참가 학생들은 실질적인 해결책을 함께 논의하고 서로에게 발표하는 시간을 가졌습니다.
Moore Global Tax Academy는 Moore Global이 매년 주최하는 행사로, 젊은 인재를 양성하고 글로벌 네트워크 내 교류를 활성화하며, 참가자들이 자신의 연구 결과를 발표할 수 있는 장을 제공합니다. 관련하여 전문가의 도움이 필요하시면 언제든지 문의해 주시기 바랍니다.
American Tariffs 2025: Global Consequences of Trump's Trade Policy
2025年米国の関税:トランプ貿易政策がもたらす世界的影響
2025年美国关税:特朗普贸易政策的全球后果
2025 미국 관세: 트럼프 무역 정책의 세계적 파장
23.05.2025
In early April, President Trump announced extensive tariffs on imports to the US, including a 10% base tariff on nearly all imports, a 20% tariff on EU imports (temporarily reduced to 10% until July 9
4월 초, 트럼프 대통령은 국제긴급경제권한법(IEEPA)에 따라 의회 승인 없이 미국 수입품에 대한 대규모 관세 부과를 발표했습니다. 거의 모든 수입품에 10%의 기본 관세를 부과하고, EU 수입품에는 20%(2025년 7월 9일까지 10%로 한시적 인하), 중국산 제품에는 145%의 관세를 적용하며, 일본, 한국, 인도에도 특정 관세를 부과하는 내용입니다
In early April, President Trump announced extensive tariffs on imports to the US, including a 10% base tariff on nearly all imports, a 20% tariff on EU imports (temporarily reduced to 10% until July 9, 2025), a 145% tariff on Chinese imports, and specific tariffs on Japan, South Korea, and India. These measures, enacted under the IEEPA, bypass Congress.
Additional tariffs introduced in April and May 2025 include a 25% tariff on auto parts and a 100% tariff on foreign films. These tariffs raise concerns about disrupted global supply chains and increased consumer prices. The Netherlands anticipates a 0.4% GDP decrease in 2025. The EU offered to purchase €50 billion in US products to ease tensions.
The trade war significantly impacts the EU economy, particularly Germany. A 25% tariff could reduce the Eurozone’s GDP by 1% in 2025. Companies like Mercedes-Benz and Unilever report reduced consumer confidence and supply chain issues, with some, like Stellantis and Volvo Cars, withdrawing financial forecasts. Central European countries with strong automotive and steel industries, such as Slovakia, Hungary, and the Czech Republic, are heavily affected.
The EU is diversifying trade relationships, negotiating agreements with countries like India, the UK, and Australia, and has formed a "Trump Task Force" to address potential escalations. The EU is also investing in strategic sectors like semiconductors and renewable energy. The EU is open to negotiations for zero tariffs on industrial products and is preparing retaliatory measures worth €21 billion.
The automotive, pharmaceutical, consumer goods, and film industries face significant challenges. The 100% tariff on foreign films may weaken international collaboration and disrupt capital flow. EU companies are encouraged to diversify export markets, relocate production, utilize EU trade agreements, optimize supply chains, and use customs warehouses. Consulting firms can provide support in navigating these challenges.
The US has reached its first trade agreement post-tariff implementation with the UK, focusing on strengthening collaboration in the agricultural and food industries. The agreement aims to facilitate the import of UK autos, steel, and aluminum, and the export of US beef.
4월 초, 트럼프 대통령은 국제긴급경제권한법(IEEPA)에 따라 의회 승인 없이 미국 수입품에 대한 대규모 관세 부과를 발표했습니다. 거의 모든 수입품에 10%의 기본 관세를 부과하고, EU 수입품에는 20%(2025년 7월 9일까지 10%로 한시적 인하), 중국산 제품에는 145%의 관세를 적용하며, 일본, 한국, 인도에도 특정 관세를 부과하는 내용입니다.
2025년 4월과 5월에는 자동차 부품에 25%, 외국 영화에 100%의 추가 관세가 도입되었습니다. 이러한 조치로 글로벌 공급망이 교란되고 소비자 물가가 상승할 것이라는 우려가 커지고 있습니다. 네덜란드는 2025년 GDP가 0.4% 감소할 것으로 전망했으며, 유럽연합(EU)은 갈등 완화를 위해 500억 유로 규모의 미국 제품 구매를 제안했습니다.
이번 무역 전쟁은 EU 경제, 특히 독일에 상당한 타격을 주고 있습니다. 25%의 관세가 부과될 경우 2025년 유로존의 GDP가 1% 감소할 수 있습니다. 메르세데스-벤츠와 유니레버 같은 기업들은 소비자 신뢰 하락과 공급망 문제를 겪고 있으며, 스텔란티스와 볼보 같은 일부 기업은 실적 전망을 철회했습니다. 특히 자동차 및 철강 산업 비중이 큰 슬로바키아, 헝가리, 체코 등 중부 유럽 국가들이 큰 영향을 받고 있습니다.
EU는 인도, 영국, 호주 등과 무역 협정을 추진하며 교역 관계를 다각화하고 있으며, 상황 악화에 대비해 '트럼프 태스크포스(TF)'를 구성했습니다. 또한, 반도체와 재생에너지 등 전략 산업에 대한 투자도 확대하고 있습니다. EU는 공산품에 대한 무관세 협상에 열린 입장을 보이면서도, 210억 유로 규모의 보복 조치를 준비하고 있습니다.
자동차, 제약, 소비재, 영화 산업 등은 심각한 도전에 직면했습니다. 특히 외국 영화에 대한 100% 관세는 국제적 협력을 약화시키고 자본 흐름을 방해할 수 있습니다. 이에 EU 기업들은 수출 시장 다변화, 생산 기지 이전, EU 무역 협정 활용, 공급망 최적화, 보세창고 이용 등의 대응 방안을 모색하고 있습니다. 전문 컨설팅 기관이 이러한 과제를 해결하는 데 도움을 줄 수 있습니다.
한편, 미국은 관세 부과 이후 첫 무역 협정을 영국과 체결했습니다. 이 협정은 농업 및 식품 산업의 협력을 강화하고, 영국산 자동차, 철강, 알루미늄의 수입과 미국산 소고기의 수출을 용이하게 하는 것을 목표로 합니다.
The Slovak Ministry of Finance announced upcoming changes to VAT deductions, specifically concerning personal vehicles used for both business and private purposes, and modifications to the VAT return
슬로바키아 재무부는 업무 및 개인 용도로 함께 사용하는 개인용 차량의 부가가치세(VAT) 공제 관련 변경 사항과 수입 상품에 대한 법률 개정에 따른 부가세 신고서 양식 개편안을 발표했습니다.
2025년 7월 1일부터, 업무와 개인 용도로 함께 사용하는 개인용 승용차(M1, L1e, L3e 유형)에 대한 부가세 매입세액 공제가 실제 사용 비율과 관계없이 일
The Slovak Ministry of Finance announced upcoming changes to VAT deductions, specifically concerning personal vehicles used for both business and private purposes, and modifications to the VAT return form due to legislative changes regarding goods imported into the country.
Effective July 1, 2025, VAT deductions for personal vehicles (categories M1, L1e, and L3e) used for both business and private use will be limited to a flat 50%, regardless of the actual split between business and personal use. This applies to vehicle purchases, leases, and operating costs. Exceptions exist for vehicles exclusively used for business purposes like resale, rental, passenger transport, driving schools, and replacement vehicles, provided private use is negligible. This limitation is set to last from July 1, 2025, to June 30, 2028, with a possible extension.
A new VAT return form will also be implemented on July 1, 2025, to accommodate changes related to VAT obligations for taxpayers submitting customs declarations for imported goods subject to self-assessment, specifically when goods are released for free circulation or placed under temporary use with partial import duty exemption. The new form separates sections for tax liability and tax deduction, including specific lines for different VAT rates and categories, such as domestic goods and services, intra-community acquisitions, and imported goods. The Financial Administration will publish the new form by the end of June 2025.
슬로바키아 재무부는 업무 및 개인 용도로 함께 사용하는 개인용 차량의 부가가치세(VAT) 공제 관련 변경 사항과 수입 상품에 대한 법률 개정에 따른 부가세 신고서 양식 개편안을 발표했습니다.
2025년 7월 1일부터, 업무와 개인 용도로 함께 사용하는 개인용 승용차(M1, L1e, L3e 유형)에 대한 부가세 매입세액 공제가 실제 사용 비율과 관계없이 일괄적으로 50%로 제한됩니다. 이 규정은 차량 구매, 리스 및 관련 유지비에 모두 적용됩니다. 다만, 재판매, 렌탈, 여객 운송, 운전 교습, 대차 서비스 등 사업 목적으로만 독점적으로 사용하고 개인적 사용이 미미한 경우는 예외로 인정됩니다. 이 제한 조치는 2025년 7월 1일부터 2028년 6월 30일까지 시행되며, 추후 연장될 수 있습니다.
또한 2025년 7월 1일부터 새로운 부가세 신고서 양식이 도입됩니다. 이는 자진신고납부 대상 수입품에 대해 세관 신고를 하는 납세자의 부가세 의무 변경 사항을 반영하기 위함으로, 특히 자유 유통 목적으로 통관되거나 부분 관세 면제 하에 일시 사용되는 물품이 해당됩니다. 새로운 신고서는 납부세액과 공제세액 항목이 분리되며, 국내 재화 및 용역, EU 역내 취득, 수입 상품 등 다양한 부가세율 및 항목별로 기재란이 구체화됩니다. 재무 관리국은 2025년 6월 말까지 새로운 신고서 양식을 공시할 예정입니다.
Double taxation treaties are a crucial tool in the international tax system, preventing the same income from being taxed in two different countries. This article examines the most si
이중과세방지협약은 동일한 소득에 대해 여러 국가가 중복으로 과세하는 것을 막는 국제 조세 제도의 핵심적인 장치입니다. 본 내용은 2025년 1월 1일부터 발효된 주요 변경 사항 및 2025년에 체결된 신규 협약에 대한 것입니다.
이러한 변경 사항은 국제적으로 사업을 하거나 투자하는 기업 및 개인에게 매우 중요합니다.
2025년에는 슬로바키아와 키르기스스
**Translation:**
Double taxation treaties are a crucial tool in the international tax system, preventing the same income from being taxed in two different countries. This article examines the most significant changes to these treaties that took effect from January 1, 2025, as well as new agreements concluded during 2025.
These changes are important for tax subjects who conduct business or invest internationally.
In 2025, only one new double taxation treaty was signed, between the Slovak Republic and the Kyrgyz Republic. The treaty came into effect on March 1, 2025.
Kyrgyzstan joins Albania, Azerbaijan, New Zealand and Saudi Arabia as countries that became contracting states last year but the treaties themselves only became effective from January 1, 2025.
Several changes related to the implementation of the Multilateral Instrument were adopted. These changes cover several areas, while concerning only one double taxation treaty.
Germany: changes to permanent establishments, share deals, methods of avoiding double taxation, and mutual agreement procedures (MAP).
Moldova: additions to the concept of a pension fund, clarification of the definition of resident and permanent establishment, dividends with ownership of at least 25% of the company's assets, disposition of assets with a 50% share in real estate, and additions to eligible benefits. The amendments to the double taxation treaty came into effect on October 16, 2024.
A complete list of valid double taxation treaties can be found on the Ministry of Finance of the Slovak Republic website.
**Summary:**
In 2025, the Slovak Republic updated its double taxation treaties, crucial for international tax management. A new treaty was established with Kyrgyzstan, effective March 1, 2025. Treaties with Albania, Azerbaijan, New Zealand, and Saudi Arabia, while signed previously, also took effect on January 1, 2025. Amendments related to the Multilateral Instrument were made, impacting treaties with Germany (addressing permanent establishments, share deals, double taxation methods, and dispute resolution) and Moldova (covering pension funds, residency, dividends, asset disposal, and eligible benefits). The changes to the Moldova treaty went into effect on October 16, 2024. A comprehensive list of effective treaties is available on the Ministry of Finance's website. These adjustments are significant for businesses and investors operating across borders, ensuring they understand how their income is taxed in different jurisdictions and avoiding double taxation.
Effective from 2025, the withholding tax rate on profit distributions to Slovak resident individuals will change. This affects income paid in the 2025 tax period, which will be distributed in 2026 or
2025년부터 슬로바키아 거주 개인에게 지급되는 이익 배당에 대한 원천징수세율이 변경됩니다. 이는 2025년 과세 기간에 발생하여 2026년 이후에 분배되는 소득에 적용됩니다. 주요 변경 내용은 세율이 10%에서 7%로 인하되는 것입니다. 이 세율은 오직 이익이 귀속된 연도에 따라 결정되며, 주식회사나 협동조합의 이익을 분배하는 기업에 영향을 미칩니다.
Effective from 2025, the withholding tax rate on profit distributions to Slovak resident individuals will change. This affects income paid in the 2025 tax period, which will be distributed in 2026 or later. The primary change is a decrease in the tax rate from 10% to 7%. This rate is determined solely by the year the profit distribution pertains to, impacting companies distributing profits from corporations or cooperatives.
The tax base is the gross profit distribution without expense deductions. The distributing entity is the tax payer, responsible for withholding and remitting the tax to the administrator by the 15th of the following month, using account number 500267/8180. They must also submit notification form OZNA4311v21 electronically. If the profit is distributed in installments, a separate notification is required for each month. Correct withholding and remittance exempts the profit distribution from further tax liability for the recipient, who doesn't need to declare this in their tax return. However, the company bears responsibility for accuracy. Non-profit organizations, not registered for corporate income tax, are exempt.
For companies distributing profits to partners, this impacts decisions regarding net dividend amounts. Companies must also plan cash flow to ensure funds are available for tax payments by the 15th of the following month. Profits from 2023 are taxed at 7%, 2024 profits at 10%, and 2025 profits at 7%.
2025년부터 슬로바키아 거주 개인에게 지급되는 이익 배당에 대한 원천징수세율이 변경됩니다. 이는 2025년 과세 기간에 발생하여 2026년 이후에 분배되는 소득에 적용됩니다. 주요 변경 내용은 세율이 10%에서 7%로 인하되는 것입니다. 이 세율은 오직 이익이 귀속된 연도에 따라 결정되며, 주식회사나 협동조합의 이익을 분배하는 기업에 영향을 미칩니다.
과세표준은 비용 공제가 없는 총 이익 배당액입니다. 이익을 분배하는 법인이 납세 의무자로서, 배당 지급일이 속하는 달의 다음 달 15일까지 세금을 원천징수하여 계좌번호 500267/8180으로 세무 당국에 납부해야 합니다. 또한, 신고서(양식 OZNA4311v21)를 전자적으로 제출해야 합니다. 이익을 분할하여 지급하는 경우, 매월 별도로 신고해야 합니다. 원천징수 및 납부가 정확히 이루어지면, 배당을 받은 개인은 추가적인 납세 의무가 없으며 해당 소득을 개인 소득세 신고 시 포함하지 않아도 됩니다. 그러나 정확한 신고 및 납부에 대한 책임은 전적으로 회사에 있습니다. 법인세 납세자로 등록되지 않은 비영리 단체는 이 규정에서 제외됩니다.
파트너에게 이익을 분배하는 회사는 이번 변경 사항을 순배당금액 결정에 반영해야 합니다. 또한, 다음 달 15일까지 세금을 납부할 수 있도록 자금 계획을 미리 세워야 합니다. 귀속 연도별 이익에 따른 세율은 다음과 같습니다.
The approved consolidation package introduces changes to the allocation of a portion of paid income tax, effective January 1, 2025, impacting tax returns filed for 2024. The goal is to streamline the
2025년 1월 1일부터 납부 소득세의 일부를 배분하는 방식이 변경되며, 이는 2024년도 귀속 소득세 신고에 영향을 미칩니다. 이번 변경은 절차를 간소화하고 투명성을 높여, '2% 지정 기부' 수혜자의 행정적 부담을 덜어주기 위함입니다. 특히, 직장인 자녀가 부모님께 드리는 '부모 연금' 명목으로 이 제도를 활용해 온 시민들에게 큰 영향을 미칩니다.
앞
The approved consolidation package introduces changes to the allocation of a portion of paid income tax, effective January 1, 2025, impacting tax returns filed for 2024. The goal is to streamline the process, enhance transparency, and reduce the administrative burden on recipients of the 2% share. A significant impact is on citizens who previously used this share as monetary compensation for parental pension provided by their working children.
The allocation of this tax share for parental pensions will be managed by the Social Insurance Agency, using data from the Financial Directorate based on declarations or tax returns. The first payment under this new system will occur in 2026, based on data from 2025. Individuals can allocate 2% of their paid income tax (minus any tax bonus), provided the recipient (parent) is a beneficiary of old-age pension, disability pension received at retirement age, or similar benefits. The tax share can be allocated to one or both parents, with equal distribution. Legal entities cannot allocate their tax share as parental pension.
The Social Insurance Agency will assess eligibility for the original parental pension according to regulations in effect until December 31, 2024, in connection with old-age pension eligibility. The law change does not affect taxpayers' right to allocate their tax share to both parents (pensioners) and the non-profit sector. Individuals can allocate 2% each to their mother and father, and an additional 2% or 3% to non-profits, potentially allocating a total of 7% of their paid tax share, with a minimum tax amount of 3 EUR for each allocation. If the share is below 3 EUR, no refund will be provided.
2025년 1월 1일부터 납부 소득세의 일부를 배분하는 방식이 변경되며, 이는 2024년도 귀속 소득세 신고에 영향을 미칩니다. 이번 변경은 절차를 간소화하고 투명성을 높여, '2% 지정 기부' 수혜자의 행정적 부담을 덜어주기 위함입니다. 특히, 직장인 자녀가 부모님께 드리는 '부모 연금' 명목으로 이 제도를 활용해 온 시민들에게 큰 영향을 미칩니다.
앞으로는 사회보험청이 세무 당국의 신고 자료를 바탕으로 부모 연금 목적의 세금 배분을 관리하게 됩니다. 이 새로운 방식에 따른 첫 지급은 2025년 소득 자료를 기준으로 2026년에 이루어집니다. 납세자는 납부한 소득세의 2%(세금 공제액 제외)를 지정할 수 있으며, 이를 위해서는 수혜자인 부모님이 노령 연금, 퇴직 연령에 도달하여 수령하는 장애 연금 또는 유사한 연금의 수혜자여야 합니다. 세금은 부모님 중 한 분 또는 양쪽 모두에게 지정할 수 있으며, 양쪽에게 지정할 경우 균등하게 배분됩니다. 법인은 이 제도를 통해 부모 연금을 지정할 수 없습니다.
기존 부모 연금에 대한 자격 심사는 2024년 12월 31일까지 유효한 규정에 따라 사회보험청이 계속해서 평가합니다. 이번 법 개정으로 납세자가 부모님(연금 수급자)과 비영리 단체 모두에게 세금을 배분할 수 있는 권리가 사라지는 것은 아닙니다. 예를 들어, 납세자는 어머니와 아버지에게 각각 2%씩, 그리고 비영리 단체에 추가로 2% 또는 3%를 지정하여, 납부 세액의 최대 7%까지 배분할 수 있습니다. 단, 각 지정 기부액은 최소 3유로 이상이어야 하며, 이 금액 미만일 경우 해당 금액은 지급되지 않습니다.
Cybersecurity is essential. LGP Lawyers, in collaboration with Moore BDR, DXC Technology Slovakia, and Aon Slovakia, hosted their second successful Business Breakfast to address this critical topic. A
사이버 보안은 필수적입니다. LGP Lawyers는 Moore BDR, DXC Technology Slovakia, Aon Slovakia와 협력하여 이 중요한 주제를 논의하는 두 번째 비즈니스 조찬회를 성공적으로 개최했습니다. Miloslav Rut, Milan Pastrňák, Viktor Belan, Jakub Hanesch 등 각 분야 전문가들이 참
Cybersecurity is essential. LGP Lawyers, in collaboration with Moore BDR, DXC Technology Slovakia, and Aon Slovakia, hosted their second successful Business Breakfast to address this critical topic. A team of experts, including Miloslav Rut, Milan Pastrňák, Viktor Belan, and Jakub Hanesch, presented a multidisciplinary overview of cybersecurity within companies.
The event focused on prevention and preparedness, offering attendees a comprehensive understanding of cybersecurity implementation from legal, auditing, IT solutions, and insurance perspectives. These areas were highlighted as vital for establishing robust cybersecurity protocols. Guests also received actionable recommendations on how to respond before, during, and after a cyber incident, including identifying key contacts for support.
The aim was to assist businesses in safeguarding their operations and protecting valuable data, reputation, and client trust. Support was provided by the Slovak-Austrian Chamber of Commerce, the Swedish Chamber of Commerce in Slovakia, and the Camera di Commercio Italo-Slovacca. Future events are planned for Prague and Brno.
사이버 보안은 필수적입니다. LGP Lawyers는 Moore BDR, DXC Technology Slovakia, Aon Slovakia와 협력하여 이 중요한 주제를 논의하는 두 번째 비즈니스 조찬회를 성공적으로 개최했습니다. Miloslav Rut, Milan Pastrňák, Viktor Belan, Jakub Hanesch 등 각 분야 전문가들이 참여하여 기업의 사이버 보안에 대한 다각적인 관점을 제시했습니다.
이번 행사는 예방과 대비에 중점을 두었으며, 참석자들은 법률, 감사, IT 솔루션, 보험 등 다양한 분야의 관점에서 사이버 보안 시스템을 구축하는 방법에 대한 포괄적인 정보를 얻을 수 있었습니다. 이러한 분야들은 강력한 사이버 보안 체계를 수립하는 데 핵심적인 요소로 강조되었습니다. 또한, 사이버 사고 발생 전후와 진행 중에 어떻게 대응해야 하는지에 대한 실질적인 조언과 함께, 문제 발생 시 도움을 받을 수 있는 주요 연락처 정보도 제공되었습니다.
행사의 목적은 기업이 비즈니스 연속성을 확보하고 소중한 데이터와 기업 평판, 고객의 신뢰를 지킬 수 있도록 돕는 것이었습니다. 슬로바키아-오스트리아 상공회의소, 주 슬로바키아 스웨덴 상공회의소, 이탈리아-슬로바키아 상공회의소가 이번 행사를 후원했으며, 향후 프라하와 브르노에서도 관련 행사가 개최될 예정입니다.
The transaction tax is changing how businesses handle their finances, and not for the better. Companies are now minimizing transfers, consolidating payments, and adjusting cash flow rhythms. Accountan
거래세가 기업의 재무 관리 방식에 부정적인 영향을 미치고 있습니다. 기업들은 자금 이체를 최소화하고, 대금 결제를 통합하며, 현금 흐름 주기를 조정하고 있습니다. 회계 담당자는 거래 내역을 더 자주 검토하고, 관리자는 결제 수단을 더욱 깐깐하게 살피고 있습니다.
단순했던 자금 이체마저 이제는 신중한 결정이 필요하며, 하나의 비용으로 인식되고 있습니다. 결
The transaction tax is changing how businesses handle their finances, and not for the better. Companies are now minimizing transfers, consolidating payments, and adjusting cash flow rhythms. Accountants are reviewing statements more frequently, and managers are scrutinizing payment methods.
Simple transfers have become deliberate decisions, now viewed as a cost to consider. Payment frequency and account usage are no longer inconsequential. Processes that once ran automatically now raise questions and potentially cause unnecessary losses.
At a seminar organized by the Association of Industrial Unions and Transport, experts explained these issues. Presenters from Tatra banka clarified the calculation principles of the tax, provided practical examples, and highlighted differences between account types, entities, and transactions. Firms received answers that were previously difficult to find, thanks to Igor Rusnák, Martin Kiňo, and Peter Bilčík.
Contact is encouraged through a contact form to assist with transaction tax concerns. Readers are asked to rate the usefulness of the article.
거래세가 기업의 재무 관리 방식에 부정적인 영향을 미치고 있습니다. 기업들은 자금 이체를 최소화하고, 대금 결제를 통합하며, 현금 흐름 주기를 조정하고 있습니다. 회계 담당자는 거래 내역을 더 자주 검토하고, 관리자는 결제 수단을 더욱 깐깐하게 살피고 있습니다.
단순했던 자금 이체마저 이제는 신중한 결정이 필요하며, 하나의 비용으로 인식되고 있습니다. 결제 빈도나 계좌 사용 방식 역시 더는 사소한 문제가 아닙니다. 과거에는 자동적으로 처리되던 업무 절차에도 의문이 제기되며, 불필요한 손실을 유발할 수 있습니다.
산업운송노조연합이 주최한 세미나에서 전문가들이 이러한 문제에 대해 설명했습니다. 타트라 은행(Tatra banka)의 발표자들은 세금 산정 기준을 명확히 설명하고, 실제 사례를 제시하며, 계좌 유형, 거래 주체, 거래 형태별 차이점을 강조했습니다. 덕분에 기업들은 이고르 루스낙(Igor Rusnák), 마르틴 키뇨(Martin Kiňo), 페테르 빌치크(Peter Bilčík)로부터 이전에는 얻기 어려웠던 해답을 들을 수 있었습니다.
거래세 관련 문의는 문의 양식을 통해 연락해 주시기 바랍니다. 이 기사가 유용했다면 평가를 부탁드립니다.
On April 1st, we participated in the University Career Fair at UMB in Banská Bystrica. We presented our company to the students, explaining our work and activities in business consulting and digitaliz
저희는 4월 1일, 반스카 비스트리차 UMB에서 열린 대학 채용 박람회에 참가하여 비즈니스 컨설팅 및 디지털화 분야의 전문성과 활동을 학생들에게 소개하는 시간을 가졌습니다.
학생들은 특히 반스카 비스트리차 지역의 채용 기회에 많은 관심을 보였습니다. 또한, 학교에서 배운 전공 지식을 실무에 적용하는 방법과 저희 회사에서 제공하는 인턴십 및 단기 근무 기회
On April 1st, we participated in the University Career Fair at UMB in Banská Bystrica. We presented our company to the students, explaining our work and activities in business consulting and digitalization.
The students were particularly interested in job opportunities in Banská Bystrica. We also discussed the application of their theoretical knowledge in practice and the possibility of completing student internships and temporary jobs within our company.
We appreciate this interest and are pleased that UMB in Banská Bystrica creates a space for students and employers to meet, connecting graduates with businesses from the real world.
Contact us via the contact form for assistance from our specialists.
**Summary:**
The company attended the University Career Fair at UMB in Banská Bystrica on April 1st. They presented their business consulting and digitalization services to students, who showed considerable interest in local job opportunities, applying their theoretical knowledge, and securing internships or temporary positions within the company. The company expressed their appreciation for UMB's role in fostering connections between students and employers, facilitating the transition from academia to the professional world. Interested individuals are encouraged to reach out via the contact form.
The international tax environment is rapidly evolving, with Pillar II, introducing a global minimum tax, being a significant change for multinational enterprises (MNEs).
국제 조세 환경은 글로벌 최저한세를 도입하는 필라 2(Pillar II)를 중심으로 빠르게 재편되고 있으며, 이는 다국적 기업에 매우 중요한 변화입니다.
Martin Kiňo를 포함한 Moore Global 자문 네트워크의 전문가들은 필라 2 도입에 적극적으로 대응하며, 여러 국가에서 활동하는 다국적 기업에 미칠 영향을 심도 있게 분석하고 있습니다.
필
The international tax environment is rapidly evolving, with Pillar II, introducing a global minimum tax, being a significant change for multinational enterprises (MNEs).
Experts from the Moore Global advisory network, including Martin Kiňo, are actively addressing Pillar II implementation. This collaboration facilitates analyzing the impacts on MNEs operating in various countries.
Pillar II establishes a coordinated framework for a global minimum tax rate of 15%, applicable to MNE groups with consolidated global revenue exceeding €750 million.
Implementation varies by jurisdiction and in how these rules interact with existing domestic tax laws. Further information, including the transposition of the directive into Slovak legislation, is available on their website. They encourage contacting their specialists for assistance.
Moore Global experts are deeply involved in the implementation of Pillar II, offering crucial insights into its effects on global businesses. The minimum tax rate of 15% will impact groups with substantial international revenue. The local implementation of Pillar II will vary, requiring expert guidance. Resources and contact information are available on their website.
The Ministry of Labour, Social Affairs and Family of the Slovak Republic announced new meal allowance rates for employees, effective April 1, 2025. These rates are dependent on the length of the busin
슬로바키아 노동사회복지부는 2025년 4월 1일부터 적용될 새로운 직원 출장 식대 규정을 발표했습니다.
이에 따라 출장 시간에 따라 식대 지원금이 다음과 같이 인상됩니다. • 5~12시간 출장: 8.80유로 (기존 8.30유로) • 12~18시간 출장: 13.10유로 (기존 12.30유로) • 18시간 초과 출장: 19.50유로 (기존 18.40유로)
The Ministry of Labour, Social Affairs and Family of the Slovak Republic announced new meal allowance rates for employees, effective April 1, 2025. These rates are dependent on the length of the business trip. Employers must provide meal arrangements in advance, meaning new meal vouchers or electronic card recharges must be issued before this date. The rates are increasing as follows: for trips of 5-12 hours, the allowance rises from €8.30 to €8.80; for 12-18 hours, from €12.30 to €13.10; and for trips exceeding 18 hours, from €18.40 to €19.50. The maximum employer contribution to meals will be €4.84 (55% of €8.80), and the minimum meal voucher value will be €6.60 (75% of €8.80). The financial contribution to meals will be between €3.63 and €4.84. Employers will need to adjust travel expense calculations, update internal regulations, and inform employees about the changes. Payroll systems must be updated to reflect the new rates. This adjustment aims to better cover employee expenses during business trips due to the rising cost of living. Proper implementation is crucial for compliance with legislation.
Moore BDR Expands its Portfolio of Consulting Services
ムーアBDR、コンサルティングサービスのポートフォリオを拡充
摩尔BDR拓展咨询服务业务
무어 BDR, 컨설팅 서비스 포트폴리오 확대
26.03.2025
Moore BDR is expanding its collaboration with the consulting firm Radvise Group, s.r.o., within the Moore Slovakia group. Through a joint venture, Moore Consulting SK (also part of Moore Slovakia) has
Moore BDR이 Moore Slovakia 그룹 산하의 컨설팅 기업 Radvise Group과의 협력을 강화합니다. 이번 협력 확대를 통해 Moore Slovakia에 소속된 Moore Consulting SK가 Radvise Group에 합류하게 됩니다. Radvise Group은 슬로바키아의 민간 및 공공 부문 고객을 대상으로 전문 서비스를 제공하는
Moore BDR is expanding its collaboration with the consulting firm Radvise Group, s.r.o., within the Moore Slovakia group. Through a joint venture, Moore Consulting SK (also part of Moore Slovakia) has joined Radvise Group, s.r.o., which offers expert services to clients from the private and public sectors in Slovakia.
Led by its original owner, Ivan Lužica, Radvise Group has extensive experience in successfully implementing projects for a wide portfolio of clients from both sectors. Their activities are primarily focused on providing expert services in process optimization, reducing operating costs, and generally increasing performance.
Moore BDR welcomes Ivan Lužica, an experienced expert and manager who has built a respected company, and believes that under his leadership, Moore Consulting SK should rank among the Top 10 consulting firms in Slovakia.
The Radvise Group team also focuses on specific services in the preparation, implementation, and evaluation of projects and programs financed by EU funds, project assistance, and help in managing large investment projects. Moore BDR is expanding its collaboration with Radvise Group under the Moore Slovakia umbrella. This expansion involves Moore Consulting SK joining forces with Radvise Group, a consulting firm specializing in serving both private and public sector clients in Slovakia. Radvise, led by Ivan Lužica, brings a wealth of experience in project implementation, process optimization, cost reduction, and performance enhancement.
Moore BDR expresses enthusiasm for welcoming Lužica, highlighting his expertise and the potential for Moore Consulting SK to become a top-tier consulting firm in Slovakia under his guidance. Radvise Group also specializes in assisting with EU-funded projects, providing support in preparation, implementation, evaluation, and management of large investments. This strategic move strengthens Moore BDR's consulting capabilities and expands its service offerings within the Slovakian market. The collaboration aims to leverage Radvise's expertise to drive performance improvements and secure a leading position for Moore Consulting SK in the consultancy landscape.
Moore BDR이 Moore Slovakia 그룹 산하의 컨설팅 기업 Radvise Group과의 협력을 강화합니다. 이번 협력 확대를 통해 Moore Slovakia에 소속된 Moore Consulting SK가 Radvise Group에 합류하게 됩니다. Radvise Group은 슬로바키아의 민간 및 공공 부문 고객을 대상으로 전문 서비스를 제공하는 컨설팅 기업입니다.
창립자 Ivan Lužica가 이끄는 Radvise Group은 다양한 부문의 고객을 대상으로 프로젝트를 성공적으로 이행해 온 풍부한 경험을 보유하고 있습니다. 주요 활동 분야는 프로세스 최적화, 운영 비용 절감, 전반적인 성과 향상을 위한 전문 컨설팅입니다.
Moore BDR은 뛰어난 전문성과 경영 능력으로 성공적인 기업을 일군 Ivan Lužica 대표의 합류를 환영하며, 그의 리더십 아래 Moore Consulting SK가 슬로바키아 10대 컨설팅 기업으로 성장할 것으로 기대합니다.
Radvise Group 팀은 EU 기금을 활용한 프로젝트 및 프로그램의 준비, 실행, 평가와 대규모 투자 프로젝트 관리 지원 등 특화된 서비스에도 전문성을 갖추고 있습니다. 이번 전략적 제휴는 Radvise Group의 전문성을 활용하여 슬로바키아 시장 내 Moore BDR의 컨설팅 역량을 강화하고 서비스 범위를 확장하는 것을 목표로 합니다. 양사는 이번 협력을 통해 고객의 성과 향상을 이끌고 컨설팅 업계에서 선도적인 입지를 확보하고자 합니다.
OMNIBUS: A New Approach to Sustainability and ESG in the European Union
オムニバス:EUにおけるサステナビリティ・ESGへの新たなアプローチ
一揽子法案:欧盟可持续性与ESG新方略
옴니버스: 유럽 연합의 지속가능성 및 ESG에 대한 새로운 접근법
26.03.2025
In March 2025, the European Commission introduced the OMNIBUS I proposal to simplify sustainability and ESG reporting. The changes aim to reduce the number of companies subject to CSRD by approximatel
2025년 3월, 유럽연합(EU) 집행위원회는 지속가능성 및 ESG 정보 공개를 간소화하기 위한 ‘옴니버스 I(OMNIBUS I)’ 법안을 발표했습니다. 이 법안은 기업 지속가능성 보고지침(CSRD)의 적용 대상 기업 수를 약 80% 줄여 행정적 부담을 크게 낮추는 동시에, 지속가능성에 대한 EU의 기조를 유지하는 것을 목표로 합니다. EU 집행위원회는 이
In March 2025, the European Commission introduced the OMNIBUS I proposal to simplify sustainability and ESG reporting. The changes aim to reduce the number of companies subject to CSRD by approximately 80%, significantly decreasing administrative burdens while maintaining the EU's commitment to sustainability. The Commission estimates savings of €6.3 billion in annual administrative costs and the mobilization of €50 billion in public and private investment to support policy priorities.
OMNIBUS is a set of legislative amendments covering environmental regulations and sustainability disclosure requirements, promoting transparency and accountability. Key points include mandating detailed environmental and social activity reporting, harmonizing ESG disclosure rules for easier performance comparison, and extending reporting obligations to larger SMEs. These changes affect firms trading in the European market, making sustainability compliance essential for competitiveness.
Key elements of OMNIBUS I include simplified disclosure rules through standardized ESG reporting guidelines, reporting obligations for firms with over 250 employees or €40 million turnover, stricter compliance control and penalties, and a focus on ecological factors. Businesses face advantages like better transparency, improved image, and access to new markets, but also challenges such as increased compliance costs and complex adaptation to new norms. SMEs face challenges in adapting, data collection, and limited administrative capacities.
The OMNIBUS proposal simplifies the management and transparency of sustainability, requiring EU firms to prepare for new regulations.
OMNIBUS I提案的关键内容包括:通过标准化的ESG报告准则,简化信息披露规则;为员工超过250人或年营业额超过4000万欧元的公司设定报告义务;实施更严格的合规监管与处罚措施;并重点关注生态环境因素。对企业而言,这项提案带来了提升透明度、改善品牌形象、进入新市场等机遇,但同时也面临合规成本增加、适应新规过程复杂等挑战。特别是中小型企业,在适应新规、收集数据以及行政能力方面可能面临更大的困难。
2025년 3월, 유럽연합(EU) 집행위원회는 지속가능성 및 ESG 정보 공개를 간소화하기 위한 ‘옴니버스 I(OMNIBUS I)’ 법안을 발표했습니다. 이 법안은 기업 지속가능성 보고지침(CSRD)의 적용 대상 기업 수를 약 80% 줄여 행정적 부담을 크게 낮추는 동시에, 지속가능성에 대한 EU의 기조를 유지하는 것을 목표로 합니다. EU 집행위원회는 이를 통해 연간 63억 유로의 행정 비용을 절감하고, 주요 정책을 지원하기 위해 500억 유로 규모의 공공 및 민간 투자를 유치할 수 있을 것으로 전망합니다.
옴니버스는 환경 규제와 지속가능성 정보 공개 의무를 포괄하는 일괄 개정 법안으로, 투명성과 책임성 강화를 목적으로 합니다. 주요 내용으로는 ▲상세한 환경·사회 활동 보고 의무화 ▲기업 간 성과 비교를 용이하게 하기 위한 ESG 정보 공개 기준 통일 ▲대규모 중소기업까지 보고 의무 확대 등이 있습니다. 이 변화는 EU 시장에서 활동하는 기업들에게 큰 영향을 미치므로, 지속가능성 규제 준수는 기업 경쟁력의 필수 요소가 될 것입니다.
옴니버스 I 법안의 핵심 요소는 다음과 같습니다. 첫째, 표준화된 ESG 보고 가이드라인을 통해 정보 공개 규칙을 간소화합니다. 둘째, 직원 수 250명 이상 또는 매출 4천만 유로 이상의 기업에 보고 의무를 부과합니다. 셋째, 규제 준수 여부에 대한 감독을 강화하고 위반 시 처벌 규정을 둡니다. 넷째, 환경적 요인을 중점적으로 관리합니다. 기업은 투명성 향상, 이미지 제고, 신규 시장 진출 기회 확보 등의 긍정적 효과를 기대할 수 있지만, 규제 준수 비용 증가나 새로운 기준에 적응해야 하는 어려움에 직면할 수도 있습니다. 특히 중소기업은 변화에 적응하고 데이터를 수집하는 데 어려움을 겪거나 행정 역량에 한계가 있을 수 있습니다.
결론적으로 옴니버스 법안은 지속가능성 관리와 투명성을 간소화하는 중요한 변화이며, EU 내 기업들은 새로운 규제에 대한 철저한 대비가 필요합니다.
VAT Digitalisation on a European Level – so-called ViDA
欧州レベルにおける付加価値税のデジタル化 – 通称ViDA
欧洲增值税数字化——ViDA倡议
유럽연합 차원의 부가가치세 디지털화, 일명 ViDA
26.03.2025
The European Parliament and Commission have agreed on the VAT in the Digital Age (ViDA) package, approved on March 11, 2025, to simplify administration and enhance transparency through electronic invo
유럽 의회와 집행위원회는 2025년 3월 11일, 전자 세금계산서(e-invoicing)를 통해 행정 절차를 간소화하고 투명성을 높이기 위한 '디지털 시대의 부가가치세(ViDA)' 법안에 합의했습니다. 이 법안은 새로운 규정을 EU 및 각 회원국 법률에 도입하기 위한 구체적인 시행 일정을 담고 있습니다. 이에 따라 회원국들은 특정 조건 하에 즉시 의무적 전
The European Parliament and Commission have agreed on the VAT in the Digital Age (ViDA) package, approved on March 11, 2025, to simplify administration and enhance transparency through electronic invoicing. The package includes a timeline for implementing new rules into EU and national laws. Member states can immediately introduce mandatory e-invoicing under certain conditions. Improvements to the Import One-Stop Shop (IOSS) framework will be implemented to enhance member state controls.
By January 1, 2027, clarifications and harmonization affecting IOSS users will be incorporated. New taxation based on the deemed supplier status for digital platforms in short-term accommodation and passenger transport will be adopted by July 1, 2028, potentially delayed to January 1, 2030. The unified VAT registration reform and the reverse charge mechanism for non-identified suppliers will be mandatory by July 1, 2028.
Digital reporting measures for cross-border B2B transactions will be applied by July 1, 2030. By January 1, 2035, all member states must align their digital reporting systems used before January 1, 2024, with EU digital reporting rules. Member states with real-time domestic digital transaction reporting must also align with EU standards by January 1, 2035. The Slovak government has already initiated mandatory national e-invoicing.
유럽 의회와 집행위원회는 2025년 3월 11일, 전자 세금계산서(e-invoicing)를 통해 행정 절차를 간소화하고 투명성을 높이기 위한 '디지털 시대의 부가가치세(ViDA)' 법안에 합의했습니다. 이 법안은 새로운 규정을 EU 및 각 회원국 법률에 도입하기 위한 구체적인 시행 일정을 담고 있습니다. 이에 따라 회원국들은 특정 조건 하에 즉시 의무적 전자 세금계산서 제도를 도입할 수 있으며, 회원국의 통제 강화를 위해 수입 원스톱샵(IOSS) 제도 또한 개선됩니다.
2027년 1월 1일부터 IOSS 이용자에게 영향을 미치는 규정이 명확화 및 통일됩니다. 2028년 7월 1일부터는 단기 숙박 및 여객 운송 디지털 플랫폼에 '공급자 간주 제도'에 기반한 새로운 세금이 부과됩니다. (시행일은 2030년 1월 1일로 연기될 수 있습니다.) 2028년 7월 1일까지 단일 부가가치세 등록 및 현지 미등록 공급자에 대한 역부과 방식이 의무화됩니다.
2030년 7월 1일부터 국경 간 기업 거래(B2B)에 대한 디지털 보고 의무가 적용됩니다. 2035년 1월 1일까지 모든 회원국은 기존의 디지털 보고 시스템을 EU 표준에 맞춰야 합니다. 이는 2024년 1월 1일 이전에 도입된 시스템과 실시간 국내 거래 보고 시스템 모두에 해당됩니다. 한편, 슬로바키아는 이미 국가 차원의 의무 전자 세금계산서 제도를 도입하기 시작했습니다.
In the rapidly evolving world of accounting, artificial intelligence (AI) plays a crucial role in enhancing efficiency and accuracy. Moore BDR s. r. o. integrates AI technologies into its accounting s
急速に進化する会計の世界において、人工知能(AI)は、業務の効率化と正確性の向上に不可欠な役割を担っています。Moore BDR s. r. o.では、AI技術を会計サービスに導入し、お客様に革新的なソリューションを提供しています。
빠르게 발전하는 회계 분야에서 인공지능(AI)은 업무 효율성과 정확성을 높이는 데 핵심적인 역할을 합니다. Moore BDR s. r. o.는 이러한 AI 기술을 회계 서비스에 접목하여 고객에게 혁신적인 솔루션을 제공합니다.
대표적인 예로 Odoo 시스템에 적용된 광학 문자 인식(OCR) 기술을 들 수 있습니다. OCR은 인보이스와 같은 문서에서 자동으로
In the rapidly evolving world of accounting, artificial intelligence (AI) plays a crucial role in enhancing efficiency and accuracy. Moore BDR s. r. o. integrates AI technologies into its accounting services, providing clients with innovative solutions.
One example is the use of Optical Character Recognition (OCR) technology in Odoo. OCR automatically extracts data from invoices and documents, eliminating manual data entry and minimizing errors, accelerating document processing and increasing efficiency. AI is also utilized for automatic VAT classification, ensuring accurate categorization of transactions according to tax regulations. This automation reduces errors and ensures compliance. Furthermore, AI assists in automating prepayments and center management, proposing optimal prepayments and assigning them to relevant centers based on historical data, improving financial reporting accuracy and providing management with better insights into departmental financial health.
The integration of AI into accounting represents a significant step towards modernization and efficiency. Moore BDR s. r. o. continuously monitors trends to provide top-tier services, believing AI will continue to transform accounting and financial management. These innovations enable faster, more accurate, and more efficient accounting services, allowing clients to focus on business growth.
急速に進化する会計の世界において、人工知能(AI)は、業務の効率化と正確性の向上に不可欠な役割を担っています。Moore BDR s. r. o.では、AI技術を会計サービスに導入し、お客様に革新的なソリューションを提供しています。
会計業務へのAI導入は、近代化と効率化に向けた大きな進歩です。Moore BDR s. r. o.は、常に最新の動向を注視し、最高水準のサービスを提供することを目指しており、AIが今後も会計および財務管理のあり方を大きく変革していくと確信しています。これらの技術革新は、より迅速、正確、かつ効率的な会計サービスを実現し、お客様が本来の事業成長に専念できる環境を創出します。
빠르게 발전하는 회계 분야에서 인공지능(AI)은 업무 효율성과 정확성을 높이는 데 핵심적인 역할을 합니다. Moore BDR s. r. o.는 이러한 AI 기술을 회계 서비스에 접목하여 고객에게 혁신적인 솔루션을 제공합니다.
대표적인 예로 Odoo 시스템에 적용된 광학 문자 인식(OCR) 기술을 들 수 있습니다. OCR은 인보이스와 같은 문서에서 자동으로 데이터를 추출해 수기 입력을 없애고 오류를 최소화합니다. 이를 통해 문서 처리 속도와 업무 효율성이 크게 향상됩니다. 또한 AI는 부가가치세 자동 분류에도 활용됩니다. 세법 규정에 따라 거래 내역을 정확하게 분류하여 오류를 줄이고 규제 준수를 보장합니다. 나아가 AI는 선급금 및 비용 센터 관리 자동화도 지원합니다. 과거 데이터를 기반으로 최적의 선급금 지급액을 제안하고, 이를 관련 부서나 프로젝트에 자동으로 배분합니다. 이를 통해 재무 보고의 정확성을 높이고, 경영진이 각 부서의 재무 건전성을 더 깊이 파악할 수 있도록 돕습니다.
회계에 AI를 도입하는 것은 현대화와 효율성 증대를 향한 중요한 진전입니다. Moore BDR s. r. o.는 앞으로도 AI가 회계 및 재무 관리 분야를 지속적으로 혁신할 것이라 믿으며, 최신 트렌드를 꾸준히 반영하여 최고 수준의 서비스를 제공하고자 합니다. 이러한 기술 혁신은 더 빠르고 정확하며 효율적인 회계 서비스를 가능하게 하여, 고객이 핵심 비즈니스 성장에 더욱 집중할 수 있도록 지원합니다.
We are pleased to announce our partnership with the international organization IBFD. As part of Moore BDR's involvement in the Moore global network, we have the opportunity to participate in various p
我们荣幸地宣布与国际组织 IBFD 建立合作伙伴关系。作为 Moore 全球网络的一员,Moore BDR 始终致力于通过各类项目与合作,为知名媒体和机构提供前沿资讯与专业见解。
全球税务教育与研究机构 IBFD 向 Moore 全球网络发出邀请,希望在其成员中寻找特定国家的专家,就当地法规分享最新动态与见解。Moore BDR 凭借其专业实力成功入选,将负责撰写并发表税务法律领域的专业文章,重
저희 Moore BDR이 국제 기구 IBFD와 파트너십을 맺게 되었음을 알려 드립니다. Moore BDR은 Moore 글로벌 네트워크의 회원사로서 다양한 프로젝트와 협업에 참여하고 있으며, 저명한 언론 및 기관에 최신 정보와 전문적인 의견을 기고하는 컨설팅 기업입니다.
세계적인 조세 교육 및 연구 기관인 IBFD는 각국의 최신 법률 정보와 전문가 의견을
We are pleased to announce our partnership with the international organization IBFD. As part of Moore BDR's involvement in the Moore global network, we have the opportunity to participate in various projects and collaborations. We are a consulting company interested in publishing the latest information and opinions for renowned media and organizations.
The Moore global network was approached by IBFD, a global tax education and research provider, to find experts within its network from selected countries to publish their views and the latest news from their local legislation. Moore BDR was selected to participate in monitoring and publishing articles in the tax-legal field, specifically in environmental taxes.
IBFD is a unique international non-profit organization based in Amsterdam, specializing in providing expert information and analysis in international tax law. Its goal is to create a platform as an invaluable resource of tax and legal information for tax professionals needing access to detailed and current information on tax systems, treaties, and policies across countries. IBFD's activities include research and analysis, education and training, and publications.
Moore BDR is excited to be part of IBFD through the Moore Global network and contribute expert articles to this leading organization, relied upon by tax experts worldwide for high-quality, independent tax knowledge and research.
Moore BDR 非常荣幸能够通过 Moore 全球网络加入 IBFD,为这一全球税务专家所信赖的顶尖机构贡献专业文章。IBFD 因其高质量、独立的税务知识与研究而享誉全球。
저희 Moore BDR이 국제 기구 IBFD와 파트너십을 맺게 되었음을 알려 드립니다. Moore BDR은 Moore 글로벌 네트워크의 회원사로서 다양한 프로젝트와 협업에 참여하고 있으며, 저명한 언론 및 기관에 최신 정보와 전문적인 의견을 기고하는 컨설팅 기업입니다.
세계적인 조세 교육 및 연구 기관인 IBFD는 각국의 최신 법률 정보와 전문가 의견을 공유할 전문가를 찾기 위해 Moore 글로벌 네트워크에 협력을 요청했습니다. 이에 Moore BDR이 조세 및 법률 분야, 특히 환경세 관련 기사의 모니터링 및 기고 파트너로 선정되었습니다.
IBFD는 네덜란드 암스테르담에 본사를 둔 국제 비영리 기구로, 국제 조세법 분야의 전문적인 정보와 분석을 제공하는 데 특화되어 있습니다. IBFD의 목표는 각국의 조세 제도, 조약, 정책에 대한 상세하고 시의성 있는 정보가 필요한 세무 전문가들에게 매우 중요한 정보 플랫폼을 제공하는 것이며, 주요 활동으로는 연구 및 분석, 교육 및 훈련, 출판 사업 등이 있습니다.
Moore BDR은 Moore 글로벌 네트워크를 통해, 수준 높은 독립적인 지식과 연구로 전 세계 조세 전문가들의 신뢰를 받는 선도적인 기관 IBFD에 전문가 기고를 하게 되어 매우 기쁘게 생각합니다.
The financial transaction tax is already proving to be an excessive burden on entrepreneurs, tradespeople, and companies operating in Slovakia. The unexpected outcome of consolidation will impact fina
Moore BDR 公司正密切关注这一在斯洛伐克税务环境中日益严峻的问题,致力于通过初步分析发掘优化空间,并提出相应的流程优化与内部程序调整建议,以减轻该税项带来的冲击。
近期,《趋势》杂志的增刊也探讨了此项交易税对斯洛伐克企业家的影响,凸
슬로바키아에 도입된 금융 거래세가 현지 기업가와 소상공인, 여러 기업에 과도한 부담이 되고 있습니다. 이러한 예상치 못한 세금 부담은 기업의 재무 계획과 현금 흐름에 직접적인 영향을 미칩니다.
이에 Moore BDR은 슬로바키아 세무 환경의 주요 현안으로 떠오른 금융 거래세 문제에 집중하고 있습니다. Moore BDR은 초기 분석을 통해 세금 최적화 방안
The financial transaction tax is already proving to be an excessive burden on entrepreneurs, tradespeople, and companies operating in Slovakia. The unexpected outcome of consolidation will impact financial planning and the regular cash flow of businesses.
Moore BDR is intensely focused on the issue of the financial transaction tax, which is becoming increasingly pressing in the Slovak tax environment. They are dedicated to initial analysis and optimization options, and proposing optimization processes and internal procedure adjustments.
The impact of the transaction tax on entrepreneurs in Slovakia was also discussed in a recent supplement to Trend magazine. Readers are given an opportunity to rate the article's helpfulness.
Summary:
Moore BDR is actively addressing the financial transaction tax's growing burden on Slovakian businesses. This tax is negatively impacting financial planning and cash flow. The firm provides initial analysis to identify optimization opportunities and suggests process improvements for internal procedures. A recent article in Trend magazine, featuring discussions on the tax's impact, highlights the issue's relevance. The tax places an excessive burden on entrepreneurs, tradespeople, and companies. Moore BDR's approach involves finding optimization options and adjusting internal processes to mitigate the tax's impact. The content also solicits reader feedback on the article's usefulness regarding the topic.
지난주, 저는 비엔나에서 열린 '무어 유럽 세무 및 법률 컨퍼런스(Moore European Tax & Legal Conference)'에 참석했습니다. 이번 컨퍼런스는 무어 글로벌 자문 네트워크의 동료들과 함께한 매우 흥미롭고 유익한 시간이었습니다. 특히 제가 태스크 포스(Task Force)의 일원으로 활동하고
My first meeting this year with Moore Global colleagues!
Last week, I attended the Moore European Tax & Legal Conference in Vienna. The conference was a very interesting and fulfilling meeting with colleagues from the Moore Global advisory network, particularly in the area of taxation, where I am part of the Task Force.
The main topic of the conference was worker mobility, which has become increasingly important in recent years. It also focused on current challenges and developments in labor law and international taxation (Pillar 2 – Global Minimum Tax).
I had the honor of participating in a panel discussion on worker mobility, which discussed the tax and legal environment for complex cross-border projects.
We had the opportunity to exchange knowledge and various types of collaboration in the legal field, as well as in the area of the global minimum tax.
The strength of our teams' collaboration at the international level is what strengthens us together. Through the Moore global network, we have access to experts around the world and provide tailored advice and support to ensure everything is done correctly in both the legal and tax areas.
Thank you to all participants for actively participating in the discussions and lectures.
From – Martin Kiňo, Partner.
Martin Kiňo, a Partner at Moore Global, attended the Moore European Tax & Legal Conference in Vienna, marking his first meeting with colleagues this year. The conference centered on worker mobility, a growing concern, and addressed challenges in labor law and international taxation, particularly Pillar 2 (Global Minimum Tax). Kiňo participated in a panel discussion on worker mobility, focusing on tax and legal aspects of complex cross-border projects. The event facilitated the exchange of knowledge and collaboration in legal matters and the global minimum tax. Kiňo emphasized the strength derived from international teamwork within the Moore Global network, enabling access to worldwide experts for tailored legal and tax advice. He expressed gratitude to the attendees for their active participation in discussions and presentations. The Moore Global network provides specialized consultation to ensure all legal and tax matters are handled correctly.
지난주, 저는 비엔나에서 열린 '무어 유럽 세무 및 법률 컨퍼런스(Moore European Tax & Legal Conference)'에 참석했습니다. 이번 컨퍼런스는 무어 글로벌 자문 네트워크의 동료들과 함께한 매우 흥미롭고 유익한 시간이었습니다. 특히 제가 태스크 포스(Task Force)의 일원으로 활동하고 있는 세무 분야에서 더욱 의미 있는 자리였습니다.
컨퍼런스의 주요 주제는 최근 그 중요성이 더욱 커지고 있는 '인력 이동성(worker mobility)'이었습니다. 또한, 노동법과 국제 조세(필라 2 – 글로벌 최저한세) 분야의 최신 현안과 발전 방향에 대해서도 심도 있게 다루었습니다.
저는 인력 이동성에 관한 패널 토론에 참여하여, 복잡한 국가 간 프로젝트의 세무 및 법률 환경에 대해 논의하는 영광을 가졌습니다.
우리는 법률 분야 및 글로벌 최저한세 영역에서 지식과 다양한 협력 방안을 교류할 기회를 가졌습니다.
국제적인 차원에서의 긴밀한 협력은 우리 모두를 더욱 강하게 만드는 원동력입니다. 무어 글로벌 네트워크를 통해 저희는 전 세계 전문가들과 협력하며, 법률 및 세무 분야의 모든 사안이 정확하게 처리될 수 있도록 맞춤형 자문과 지원을 제공합니다.
토론과 강연에 적극적으로 참여해주신 모든 분께 감사드립니다.
- 마틴 키뇨, 파트너 드림.
무어 글로벌의 파트너인 마틴 키뇨가 비엔나에서 개최된 '무어 유럽 세무 및 법률 컨퍼런스'에 참석하며 올해 첫 동료들과의 만남을 가졌습니다. 이번 컨퍼런스는 최근 중요성이 부각되고 있는 '인력 이동성'을 중심으로, 노동법 및 국제 조세, 특히 필라 2(글로벌 최저한세)의 현안에 대해 다루었습니다. 키뇨 파트너는 인력 이동성에 관한 패널 토론에 참여하여, 복잡한 국가 간 프로젝트의 세무 및 법률적 측면에 대해 논의했습니다. 이 행사는 법률 및 글로벌 최저한세 분야의 지식 교류와 협력을 촉진하는 계기가 되었습니다. 키뇨 파트너는 무어 글로벌 네트워크 내의 국제적인 팀워크가 조직의 강점임을 강조하며, 이를 통해 전 세계 전문가들과 협력하여 맞춤형 법률 및 세무 자문을 제공할 수 있다고 밝혔습니다. 그는 토론과 발표에 적극적으로 참여한 모든 참석자에게 감사를 표했습니다. 무어 글로벌 네트워크는 모든 법률 및 세무 관련 사안이 정확하게 처리되도록 전문적인 컨설팅을 제공합니다.
The Slovak government is issuing preliminary information regarding the introduction of mandatory electronic invoicing and online data reporting to combat tax evasion, with real-time reporting of invoi
슬로바키아 정부는 탈세 방지를 목적으로, 인보이스(송장) 데이터를 재무 당국에 실시간으로 보고하는 의무 전자 인보이스 및 온라인 데이터 보고 시스템 도입에 대한 사전 안내를 발표했습니다.
이러한 변화는 2030년까지 회원국들의 국경 간 거래에 대한 부가가치세(VAT) 디지털화를 의무화하는 유럽연합(EU)의 계획에 따른 조치입니다.
주요 일정에 따라 20
The Slovak government is issuing preliminary information regarding the introduction of mandatory electronic invoicing and online data reporting to combat tax evasion, with real-time reporting of invoice data to the financial administration.
This change stems from an EU initiative requiring member states to implement mandatory VAT digitalization for cross-border transactions by 2030.
The timeline includes mandatory e-invoicing for domestic invoices by January 2027, requiring VAT payers to issue invoices in a structured electronic format. Slovakia will adopt the EU standard format, enabling automatic electronic processing. Concurrently, mandatory reporting of data from domestic invoices will be implemented, covering the entire invoicing process from issuance to processing and data submission to the financial administration. Amendments to the VAT law are expected to take effect on January 1, 2027.
By July 2030, mandatory reporting of data from cross-border invoices will be introduced, requiring VAT payers to issue cross-border invoices in a structured format, adhering to EU rules and eliminating paper processing. Slovakia will accept the EU structured format for invoices, derived from Directive 204/55/EU, enabling automated electronic processing.
These changes will impact invoicing processes, electronic connections between VAT payers and the financial administration, and the financial administration's control mechanisms. The EU rules are currently being processed, and the preliminary information will be incorporated into an amended VAT law, likely in the second half of 2025.
슬로바키아 정부는 탈세 방지를 목적으로, 인보이스(송장) 데이터를 재무 당국에 실시간으로 보고하는 의무 전자 인보이스 및 온라인 데이터 보고 시스템 도입에 대한 사전 안내를 발표했습니다.
이러한 변화는 2030년까지 회원국들의 국경 간 거래에 대한 부가가치세(VAT) 디지털화를 의무화하는 유럽연합(EU)의 계획에 따른 조치입니다.
주요 일정에 따라 2027년 1월부터 국내 인보이스에 대한 전자 인보이스 발행이 의무화되며, 부가가치세 납세자는 정형화된 전자 양식으로 인보이스를 발행해야 합니다. 슬로바키아는 자동화된 전자 처리가 가능한 EU 표준 양식을 채택할 예정입니다. 이와 함께 국내 인보이스 데이터의 의무 보고 제도가 시행되어, 인보이스 발행부터 처리, 재무 당국으로의 데이터 제출까지 전 과정이 포함됩니다. 관련 부가가치세법 개정안은 2027년 1월 1일부터 시행될 전망입니다.
2030년 7월까지는 국경 간 거래 인보이스에 대한 데이터 보고가 의무화됩니다. 이에 따라 부가가치세 납세자는 EU 규정을 준수하는 정형화된 양식으로 국경 간 인보이스를 발행해야 하며, 기존의 종이 서류 처리는 폐지됩니다. 슬로바키아는 EU 지침(Directive 204/55/EU)에 기반한 EU 정형화 인보이스 양식을 수용하여 자동화된 전자 처리를 지원할 것입니다.
이러한 변화는 전반적인 인보이스 발행 절차, 부가가치세 납세자와 재무 당국 간의 전자 연결 시스템, 그리고 재무 당국의 관리 감독 체계에 영향을 미칠 것입니다. 관련 EU 규정은 현재 수립 중이며, 이번 사전 안내 내용은 2025년 하반기에 마련될 부가가치세법 개정안에 포함될 예정입니다.
Impact of the amendment to the building act on business
建築基準法改正が事業に与える影響
建筑法修订对商界的影响
건축법 개정이 사업에 미치는 영향
04.03.2025
The Slovak government has adopted an amendment to the building law, necessitating adjustments to several laws related to business and tax obligations for individuals and legal entities in Slovakia. Ke
슬로바키아 정부가 건축법을 개정함에 따라, 개인 및 법인의 사업 활동과 납세 의무 관련 법규들도 함께 변경됩니다. 주요 변경 내용은 사업면허법, 창고증권법, 소득세법, 지방세법에 관한 것입니다.
사업면허법 개정으로 공인 도시계획가, 감리 기술자, 건설 감리사와 같은 직업은 이제 사업면허가 필요한 업종에서 제외됩니다. 또한, 가판대나 이동식 장비에 기술 장
The Slovak government has adopted an amendment to the building law, necessitating adjustments to several laws related to business and tax obligations for individuals and legal entities in Slovakia. Key changes include amendments to the Trades Licensing Act, the Law on Warehouse Receipts, the Income Tax Act, and the Law on Local Taxes.
The Trades Licensing Act now excludes authorized urban planners, control engineers, and construction supervisors from being considered trades. Using technical equipment at stalls or portable devices no longer requires a construction permit. Trade licenses for documentation and project work on simple constructions obtained before April 1, 2025, remain valid until March 31, 2029. The act also updates the list of trades and requirements for construction trades.
The Law on Warehouse Receipts mandates that warehouse keepers notify the ministry within 15 days of any changes affecting their license to operate a public warehouse. The calculation period no longer starts from the issuing date of the warehouse permit.
The Income Tax Act redefines "buildings and other structures" that are not considered buildings for depreciation purposes, specifically addressing small structures on forest lands. It also defines the depreciation of building complexes, where each structure within the complex is depreciated separately. A transitional provision states that for buildings with proceedings initiated and completed by March 31, 2025, the original regulations apply.
The Law on Local Taxes modifies the definition of a building plot for property tax calculation. It defines a building plot as one specified in a valid building permit until the occupancy permit is issued. It also specifies what is not considered a building plot. Tax obligations arising before December 31, 2025, will still follow the regulations effective until March 31, 2025. Valid building permits and occupancy permits under previous regulations are now considered decisions on construction projects and occupancy certificates, respectively.
슬로바키아 정부가 건축법을 개정함에 따라, 개인 및 법인의 사업 활동과 납세 의무 관련 법규들도 함께 변경됩니다. 주요 변경 내용은 사업면허법, 창고증권법, 소득세법, 지방세법에 관한 것입니다.
사업면허법 개정으로 공인 도시계획가, 감리 기술자, 건설 감리사와 같은 직업은 이제 사업면허가 필요한 업종에서 제외됩니다. 또한, 가판대나 이동식 장비에 기술 장비를 사용할 때 더 이상 건축 허가가 필요하지 않게 됩니다. 2025년 4월 1일 이전에 취득한 단순 건축물의 서류 및 설계 작업 관련 사업 면허는 2029년 3월 31일까지 유효합니다. 이 외에도 건설 관련 업종 목록과 자격 요건이 업데이트되었습니다.
창고증권법에 따라, 공공 창고 운영자는 운영 허가에 영향을 미치는 변경 사항이 발생할 경우 15일 이내에 관련 부처에 신고해야 합니다. 신고 기간을 계산할 때 더는 창고 허가서 발급일을 기준으로 하지 않습니다.
소득세법에서는 감가상각 대상에서 제외되는 건물의 정의가 바뀌었으며, 특히 산림지에 있는 소규모 구조물이 이에 해당합니다. 복합 건물의 경우, 각 건물을 개별적으로 감가상각하도록 정의되었습니다. 2025년 3월 31일까지 관련 절차가 시작되고 완료된 건물에 대해서는 기존 규정이 그대로 적용됩니다.
지방세법에서는 재산세 계산의 기준이 되는 건축 부지의 정의가 변경됩니다. 이제 건축 부지란, 유효한 건축 허가를 받은 후 사용 승인을 받기 전까지의 토지를 의미하며, 건축 부지로 간주되지 않는 경우도 구체적으로 명시되었습니다. 2025년 12월 31일 이전에 발생한 납세 의무는 2025년 3월 31일까지 유효한 기존 규정을 따릅니다. 기존 법에 따라 발급된 건축 허가와 사용 승인은 각각 새로운 법의 '건설 프로젝트 결정서'와 '사용 증명서'로 간주됩니다.
Amendment to the minimum so-called equalization tax
いわゆる最低均等税の改正
所谓的最低均等化税修正案
최저한세(소위 균등세) 개정
13.01.2025
Slovakia has amended its law on the minimum tax level, also known as the equalization tax, to address several contentious areas in the initial transposition. The amendment, which modifies Act No. 507/
슬로바키아 정부가 글로벌 최저한세(균등세) 관련 법률을 개정했습니다. 이번 개정은 기존 법안의 불분명했던 부분을 해소하고 제도의 안정적인 정착을 위해 이루어졌습니다.
주요 변경 사항은 다음과 같습니다. 먼저, '모기업', '적격 귀속세' 등 핵심 용어의 정의를 명확히 하여 법적 해석의 혼란을 줄였습니다.
또한, 과세소득 계산 방식이 구체화되었습니다. 기
Slovakia has amended its law on the minimum tax level, also known as the equalization tax, to address several contentious areas in the initial transposition. The amendment, which modifies Act No. 507/2023, clarifies definitions, supplements rules for calculating excluded income based on economic substance, and introduces simplified calculations for insignificant entities (state and non-profit entities).
Key changes include adjustments to definitions of "included tax of a basic entity," "qualified imputation tax," "unqualified refundable imputation tax," and "marketable minimum price." The definition of "parent entity" has also been refined, distinguishing between "non-excluded main parent entity," "intermediate parent entity," and "partially owned parent entity." The amendment further elaborates on rules for income inclusion, under-taxed profits, and domestic equalization taxes.
The new law significantly alters the calculation of eligible income or loss, allowing for the inclusion of profits or losses determined according to acceptable financial standards if the basic entity's financial statements are prepared accordingly, information is reliable, and permanent differences exceed EUR 1,000,000. It also provides guidance on the treatment of currency gains and adjustments to included taxes. Tax credits are addressed, and rules for excluding income based on economic substance have been expanded to cover tangible asset rentals, dependent activities, and income from tangible assets. Hybrid measures aimed at preventing tax avoidance are introduced, and exceptions for simplified calculations are outlined for entities meeting specific criteria. The effective dates for determining eligible income or loss and applying deferred tax assets have been postponed to January 1, 2025.
슬로바키아 정부가 글로벌 최저한세(균등세) 관련 법률을 개정했습니다. 이번 개정은 기존 법안의 불분명했던 부분을 해소하고 제도의 안정적인 정착을 위해 이루어졌습니다.
주요 변경 사항은 다음과 같습니다. 먼저, '모기업', '적격 귀속세' 등 핵심 용어의 정의를 명확히 하여 법적 해석의 혼란을 줄였습니다.
또한, 과세소득 계산 방식이 구체화되었습니다. 기업의 실질적인 경제 활동에 근거해 과세 대상에서 제외되는 소득의 계산 규칙을 보완했으며, 일정 요건을 충족하는 경우 국제회계기준 등에 따라 작성된 재무 정보를 소득 계산에 활용할 수 있도록 허용했습니다. 이를 통해 기업의 회계 부담을 덜고 계산의 신뢰성을 높였습니다. 특히, 소규모 공공 및 비영리 기관을 대상으로는 계산 절차를 간소화하는 예외 규정도 마련되었습니다.
더불어 조세 회피를 방지하기 위한 새로운 규정들이 도입되었으며, 세액 공제, 외화 관련 손익 처리, 유형자산에서 발생하는 소득의 취급 방식에 대한 지침도 상세하게 마련되었습니다.
마지막으로, 새로운 소득 및 손실 산정 방식과 이연 법인세 자산 관련 규정의 시행일은 2025년 1월 1일로 조정되었습니다.
2024년 말 슬로바키아에서 테러 자금 조달 방지, 망명, 건강 보험에 관한 여러 법률이 개정되었습니다.
자금 세탁 방지법 개정안은 불법 자금 흐름에 대한 법적 체계를 강화하고 자금 세탁 및 테러 자금 조달 예방을 개선하며 국제 협력을 증진하는 데 중점을 둡니다. 주요 변경 사항으로 금융 기관을 포함한 기업들의 고객 신원 확인 및 의심 거래 감시 요건이
Several legal amendments concerning counter-terrorism financing, asylum, and health insurance were enacted in late 2024 in Slovakia.
Amendments to the law against money laundering focus on strengthening the legal framework against illegal financial flows, improving prevention of money laundering and terrorism financing, and enhancing international cooperation. Key changes include stricter requirements for businesses, especially financial institutions, in identifying clients and monitoring suspicious transactions, with increased attention to cryptocurrency transactions, trusts, partnerships, individuals from high-risk countries, life insurance beneficiaries, ultimate beneficial owners, and clients of pan-European pension products. New rules impose obligations on cryptocurrency platforms for thorough checks and transparency. Penalties for illegal activities are increased, and international cooperation is emphasized.
Amendments to the law on the residence of foreigners and asylum aim to streamline temporary refuge status and asylum policy in line with EU standards. They focus on optimizing administrative procedures, improving conditions for asylum seekers, and strengthening their rights. Key changes include adjusted conditions for long-term residence, new conditions for work and study stays, increased monitoring of foreigners' residence, and simplified procedures for third-country nationals, introducing electronic application submissions for residence-related matters, with the caveat that biometric data must already be on file. The asylum law amendments focus on streamlining asylum proceedings, increasing protection for asylum seekers' rights, improving processes for repeated asylum applications, and introducing new rules for children and families.
Finally, changes to health insurance stipulate public health insurance will cease under specific conditions (no general practitioner, no healthcare provided/claimed/communicated within 5 years, no change in provider within 5 years), and that state will pay for health insurance in cases where a person is engaged in community service. It also amended the law on health insurance companies, for which economically eligible costs are defined, and the term technical reserve is replaced by the term cost of insurance benefits.
2024년 말 슬로바키아에서 테러 자금 조달 방지, 망명, 건강 보험에 관한 여러 법률이 개정되었습니다.
자금 세탁 방지법 개정안은 불법 자금 흐름에 대한 법적 체계를 강화하고 자금 세탁 및 테러 자금 조달 예방을 개선하며 국제 협력을 증진하는 데 중점을 둡니다. 주요 변경 사항으로 금융 기관을 포함한 기업들의 고객 신원 확인 및 의심 거래 감시 요건이 더욱 엄격해졌습니다. 특히 암호화폐 거래, 신탁, 파트너십, 고위험 국가 출신 개인, 생명 보험 수혜자, 최종 실소유자, 범유럽 개인연금상품 가입자 등에 대한 관리가 강화됩니다. 새로운 규정에 따라 암호화폐 플랫폼에도 철저한 고객 확인과 투명성 의무가 부과되며, 불법 행위에 대한 처벌 수위는 높아지고 국제 공조가 강조됩니다.
외국인 체류 및 망명에 관한 법률은 유럽연합(EU) 기준에 맞춰 임시 보호 제도와 망명 정책을 합리화하는 것을 목표로 합니다. 행정 절차를 간소화하고 망명 신청자의 처우를 개선하며 권리를 강화하는 데 초점을 맞춥니다. 주요 변경 사항으로는 장기 체류 조건 조정, 취업 및 유학 목적 체류를 위한 신규 조건 도입, 외국인 체류 감독 강화 등이 있습니다. 또한, 제3국 국민을 위한 절차를 간소화하여, 기존에 생체 정보가 등록된 경우에 한해 체류 관련 서류를 온라인으로 제출할 수 있게 됩니다. 망명법 개정안은 망명 심사 절차 간소화, 망명 신청자 권리 보호 강화, 망명 재신청 절차 개선, 아동 및 가족을 위한 새로운 규정 도입 등을 포함합니다.
마지막으로 건강 보험법 개정안은 특정 조건 하에서 공공 건강 보험 자격이 상실되도록 규정합니다. 해당 조건은 ▲주치의가 없는 경우 ▲5년 이내에 의료 서비스를 이용하거나 청구 또는 관련 소통이 없는 경우 ▲5년 이내에 의료기관을 변경하지 않은 경우 등입니다. 또한, 사회봉사활동에 참여하는 사람의 건강 보험료는 국가가 부담하게 됩니다. 이와 함께 건강보험사에 관한 법률도 개정되어, 경제적으로 인정되는 비용의 정의가 명확해지고 '기술 준비금'이라는 용어는 '보험 급여 비용'으로 대체됩니다.
2025년 1월 1일부터 슬로바키아의 비즈니스 환경에 영향을 미치는 몇 가지 주요 법안이 변경됩니다.
**부가가치세(VAT)법 개정**
* 의무 VAT 등록 조건이 신설됩니다. 건물 및 건물 일부 공급, EU 내 비과세 개인에게 전자 인터페이스를 통한 상품 공급, 슬로바키아에 고정 사업장을 두고 다른 회원국으로부터 상품을 취득하는 경우 등이 해당됩니
Several legislative changes are set to impact the business environment in Slovakia, effective primarily from January 1, 2025.
Amendments to the VAT Act include new conditions for mandatory VAT registration, such as supplying buildings or building parts, supplying goods via electronic interfaces to non-taxable individuals within the EU, and acquiring goods from other member states with an established permanent establishment in Slovakia. The basis for VAT calculation is also redefined. It will be based on the purchase price of the goods or the cost of the service at the time of supply. The adjustment period for VAT on investment property is specified as 5 calendar years for movable assets exceeding €3,319.39 and 20 years for buildings and related constructions.
The Electronic Cash Register Act sees a significant increase in penalties for violations. For example, improper use of the cash register now carries a fine of €500-€15,000.
Amendments to the Business Act prohibit legal entities with unscrupulous beneficial owners from engaging in real estate brokerage and accounting services. Companies must adjust legal relationships with final beneficiaries by April 15, 2025. The act also reduces administrative burdens by allowing state institutions to electronically exchange information already provided by entrepreneurs.
The Customs Act increases fines for customs offenses.
Finally, there are amendments to the Act on the Implementation of International Sanctions, detailing the responsibilities of state administration employees. The Act on Financial Administration is also amended, granting financial authorities the right to control cash transfers across borders shared with other member states exceeding €10,000, and to seize the entire amount if information is withheld. Fines for failing to declare cash transfers above this limit will also apply.
2025년 1월 1일부터 슬로바키아의 비즈니스 환경에 영향을 미치는 몇 가지 주요 법안이 변경됩니다.
**부가가치세(VAT)법 개정**
* 의무 VAT 등록 조건이 신설됩니다. 건물 및 건물 일부 공급, EU 내 비과세 개인에게 전자 인터페이스를 통한 상품 공급, 슬로바키아에 고정 사업장을 두고 다른 회원국으로부터 상품을 취득하는 경우 등이 해당됩니다. * VAT 과세표준이 재정의되어, 공급 시점의 상품 구매 가격 또는 서비스 원가를 기준으로 산정됩니다. * 투자 자산에 대한 VAT 조정 기간이 명시됩니다. 3,319.39유로를 초과하는 동산은 5년, 건물 및 관련 구조물은 20년이 적용됩니다.
**전자 금전 등록기법 개정**
* 법규 위반에 대한 벌금이 대폭 인상됩니다. 예를 들어, 금전 등록기를 부적절하게 사용할 경우 부과되는 벌금이 500유로에서 15,000유로로 상향 조정됩니다.
**사업법 개정**
* 부적격한 실소유자를 둔 법인은 부동산 중개 및 회계 서비스업에 종사할 수 없게 됩니다. 기업들은 2025년 4월 15일까지 최종 수익자와의 법률 관계를 조정해야 합니다. * 국가 기관이 사업자가 이미 제출한 정보를 전자적으로 교환할 수 있게 되어 행정 부담이 줄어듭니다.
**관세법 개정**
* 관세 위반에 대한 벌금이 인상됩니다.
**기타 주요 개정 사항**
* 국제 제재 이행에 관한 법률이 개정되어, 국가 행정 직원의 책임이 구체화됩니다. * 재정 행정법 개정에 따라, 재정 당국은 다른 EU 회원국과의 국경을 넘는 10,000유로 초과 현금 이동을 통제하고, 관련 정보 제공을 거부할 시 현금 전액을 압수할 수 있는 권한을 갖게 됩니다. 해당 한도를 초과하는 현금 이동을 신고하지 않을 경우에도 벌금이 부과됩니다.
Extensive discussions regarding the content and interpretation of the new financial transaction tax led to pressure on lawmakers and the need for revisions to the law. Before Law No. 279/2024 Coll. on
새로운 금융거래세의 내용과 해석을 둘러싼 논란이 확산되자, 법안이 시행되기 전인 2024년 11월 말 개정안이 통과되었습니다.
이번 개정안은 금융 거래의 정의를 명확히 하여, 결제 계좌로의 현금 입금, 결제 수단 발행, 송금, 결제 대행 서비스는 금융 거래에서 제외했습니다. 또한, 거래 계좌를 사업자용 계좌로 한정하고, 슬로바키아 내에 사업장을 둔 결제
Extensive discussions regarding the content and interpretation of the new financial transaction tax led to pressure on lawmakers and the need for revisions to the law. Before Law No. 279/2024 Coll. on the financial transaction tax took effect, an amendment was approved in late November 2024.
The amendment clarifies definitions, specifying that cash deposits to payment accounts, issuing payment instruments, money transfers, and payment initiation services are not financial transactions. It also refines the definition of a transaction account, limiting it to accounts used by entrepreneurs, and clarifies who is considered a taxpayer, including payment service users with a registered office or business establishment in Slovakia.
The amendment expands the list of exempt entities to include organizations like Matica slovenská, the Slovak Academy of Sciences, civic associations, churches, and regional tourism organizations. These entities must notify the tax collector (payment service provider) that they are not taxpayers. The definition of the tax payer also includes payment service users and providers without a local organizational unit.
The range of tax-exempt transactions is also broadened to encompass activities related to crypto-assets, payment operations performed by postal companies, automated balance compensation within consolidated groups, transactions involving funds under bankruptcy or execution proceedings, auction deposits, payments by state funds, payments of administrative and court fees, transactions by public universities and transactions of supervised financial market actors conducted on behalf of their clients. Furthermore, transactions for healthcare insurance, medicine, prepayments, and sanctions are also exempted.
Finally, the calculation of the tax base for re-invoiced costs is specified, and the tax rate of 0.4% (max. 40 EUR) applies to financial transactions debited from the taxpayer's account, financial transactions that relate to the domestic activities of the taxpayer and which another person invoiced to him and the amount of the re-invoiced costs related to the implementation of a financial transaction, which relates to the domestic activity of the taxpayer. The amendments take effect on January 1, 2025.
새로운 금융거래세의 내용과 해석을 둘러싼 논란이 확산되자, 법안이 시행되기 전인 2024년 11월 말 개정안이 통과되었습니다.
이번 개정안은 금융 거래의 정의를 명확히 하여, 결제 계좌로의 현금 입금, 결제 수단 발행, 송금, 결제 대행 서비스는 금융 거래에서 제외했습니다. 또한, 거래 계좌를 사업자용 계좌로 한정하고, 슬로바키아 내에 사업장을 둔 결제 서비스 이용자 등을 납세자로 규정했습니다. 현지 법인이 없는 결제 서비스 이용자와 제공자도 납세자 범위에 포함됩니다.
면세 대상 기관도 확대되어, 슬로바키아 과학 아카데미, 시민 단체, 교회, 지역 관광 단체 등이 추가되었습니다. 이러한 기관들은 결제 서비스 제공자에게 비과세 대상임을 알려야 합니다.
비과세 거래의 범위도 대폭 넓어졌습니다. 암호화폐 관련 활동, 우편 회사를 통한 결제, 그룹사 내 자동 잔액 정산, 파산 또는 강제 집행 절차에 있는 자금 거래, 경매 보증금, 공공기금 및 행정·법원 수수료 납부, 공립대학 및 금융 감독 기관이 고객을 대신해 수행하는 거래 등이 면제 대상에 포함되었습니다. 이 외에 건강보험, 의약품, 선급금, 제재금 관련 거래 역시 비과세 혜택을 받습니다.
마지막으로, 비용 재청구 시 과세 표준 산정 방식이 구체화되었습니다. 세율은 0.4%(최대 40유로)로, 납세자 계좌에서 인출되는 금융 거래, 납세자의 국내 활동과 관련하여 타인에게서 청구된 금융 거래 및 관련 비용 재청구액 등에 적용됩니다.
The new tax on financial transactions has sparked debate about its necessity and independence. Businesses are concerned about optimizing additional taxation and preventing decreased consumer demand. M
새로운 금융거래세 도입을 두고 그 타당성과 공정성에 대한 논란이 계속되고 있습니다. 기업들은 추가적인 세금 부담을 최소화하고 소비 심리 위축을 방지하는 방안에 대해 고심하고 있습니다. Moore BDR의 세무 전문가들은 이러한 문제에 대한 명확한 해법을 제시하며, 대기업 및 중견기업이 내부 프로세스를 개선하고 세금을 최적화할 수 있도록 전문적인 분석을 제공
The new tax on financial transactions has sparked debate about its necessity and independence. Businesses are concerned about optimizing additional taxation and preventing decreased consumer demand. Moore BDR's tax experts offer advice on this topic, providing analyses that lead to internal process adjustments and optimization for large and medium-sized companies.
Their optimization strategy includes an initial discussion, current state analysis, evaluation, detailed optimization analysis, and an assessment of hidden risks. They focus on optimizing transation tax, developing optimal schemes, analyzing group functions, and supporting internal processes.
Analysis includes optimizing direct payment transactions, and integrating new payment forms. Risks associated with tax optimization include legislative uncertainties, limitations on cash pooling, and potential issues with payment service providers. Moore BDR offers workshops, presentations, and statements to guide companies through the optimization process. They also provide detailed advice to create a manual for the company or those involved in management. They also offer newsletters on the essence of the financial transactions tax. Contact them for tax optimization assistance.
새로운 금융거래세 도입을 두고 그 타당성과 공정성에 대한 논란이 계속되고 있습니다. 기업들은 추가적인 세금 부담을 최소화하고 소비 심리 위축을 방지하는 방안에 대해 고심하고 있습니다. Moore BDR의 세무 전문가들은 이러한 문제에 대한 명확한 해법을 제시하며, 대기업 및 중견기업이 내부 프로세스를 개선하고 세금을 최적화할 수 있도록 전문적인 분석을 제공합니다.
Moore BDR의 최적화 전략은 초기 상담, 현황 분석, 평가, 세부 최적화 분석, 잠재적 리스크 평가 순으로 진행됩니다. 주요 서비스는 거래세 최적화, 최적의 절세 구조 설계, 그룹사 기능 분석 및 내부 프로세스 지원에 중점을 둡니다.
분석에는 직접 결제 거래의 최적화와 새로운 결제 방식의 통합이 포함됩니다. 세금 최적화 과정에서 발생할 수 있는 주요 리스크로는 관련 법규의 불확실성, 자금 집중(Cash Pooling)의 한계, 결제 대행사(PG) 관련 문제 등이 있습니다.
Moore BDR은 최적화 과정 전반에 걸쳐 워크숍, 설명회, 공식 의견서 등을 통해 기업이 올바른 방향을 찾도록 돕습니다. 또한, 기업의 실무진이나 경영진이 활용할 수 있는 상세 매뉴얼 제작을 지원하고, 금융거래세의 핵심 내용을 다루는 뉴스레터도 제공합니다. 세금 최적화에 대한 전문적인 도움이 필요하시다면 Moore BDR에 문의하십시오.
Deforestation Regulation – the so-called EUDR Regulation
森林破壊防止規則-いわゆるEUDR
《欧盟反毁林法规》——即EUDR法规
EU 산림벌채 규정(EUDR)
11.12.2024
The European Parliament adopted the EU Deforestation Regulation (EUDR) to combat deforestation, forest degradation, and greenhouse gas emissions. This regulation aims to control the import, export, an
유럽연합(EU)은 삼림 벌채 및 황폐화를 막고 온실가스 배출을 줄이기 위해 'EU 삼림 벌채 규제(EUDR)'를 도입했습니다. 이 규제는 환경 파괴와 관련된 특정 품목의 EU 내 수입, 수출 및 판매를 제한하는 것을 목표로 합니다.
EUDR은 관련 품목을 수입하거나 수출하는 모든 EU 기업에 적용되며, 규정을 위반할 경우 해당 품목의 거래가 금지됩니다.
The European Parliament adopted the EU Deforestation Regulation (EUDR) to combat deforestation, forest degradation, and greenhouse gas emissions. This regulation aims to control the import, export, and marketing of specific products linked to environmental damage.
The EUDR applies to all EU companies involved in importing or exporting designated products. Non-compliance results in a ban on trading these products. The regulation focuses on commodities like cattle, cocoa, coffee, palm oil, rubber, soy, and wood, and products derived from them. The specific list is in Annex I of the regulation.
The EUDR places obligations on economic operators (importers, exporters, domestic producers) and traders. They are prohibited from placing or making available on the market commodities and products that caused deforestation or forest degradation, are not compliant with the laws of the country of production, and are not covered by a due diligence statement. Economic operators must exercise due diligence, issue a due diligence statement, communicate within the supply chain, and large companies must publish annual due diligence reports.
Due diligence involves gathering information, assessing risks (considering factors like country risk level, deforestation rates, and supply chain complexity), and implementing risk mitigation measures. Wood products with a valid FLEGT license are deemed compliant.
Small and medium-sized enterprises have lighter obligations, only needing to collect information on suppliers and customers. A representative can be appointed for microenterprises. Failure to comply can result in penalties, including fines of up to 4% of the company's annual EU turnover.
The EUDR came into force on June 29, 2023, and will be applied from December 2024, but there is a proposition to postpone the date to December 2025 for large companies and June 2026 for microenterprises and small businesses.
유럽연합(EU)은 삼림 벌채 및 황폐화를 막고 온실가스 배출을 줄이기 위해 'EU 삼림 벌채 규제(EUDR)'를 도입했습니다. 이 규제는 환경 파괴와 관련된 특정 품목의 EU 내 수입, 수출 및 판매를 제한하는 것을 목표로 합니다.
EUDR은 관련 품목을 수입하거나 수출하는 모든 EU 기업에 적용되며, 규정을 위반할 경우 해당 품목의 거래가 금지됩니다. 주요 규제 품목은 소, 코코아, 커피, 팜유, 고무, 대두, 목재 및 그 파생 제품이며, 전체 목록은 규정 부록 1에 명시되어 있습니다.
이 규제에 따라 수입·수출업자 및 생산자 등 모든 사업자는 ▲삼림 벌채를 유발하지 않고 ▲생산국 법률을 위반하지 않았으며 ▲실사 확인서를 통해 이를 증명한 제품만 시장에 공급할 수 있습니다. 사업자는 공급망 전반의 정보를 수집하고 위험성을 평가하는 실사 의무를 이행해야 하며, 대기업은 매년 실사 보고서를 공개해야 합니다.
실사 절차에는 공급망 정보 수집, 국가별 위험도 및 삼림 벌채 현황 등을 고려한 위험 평가, 위험 완화 조치 시행 등이 포함됩니다. 다만, 유효한 산림법 시행 및 관리·무역(FLEGT) 라이선스를 보유한 목재 제품은 규정을 준수한 것으로 간주합니다.
중소기업의 경우, 공급업체와 고객 정보 수집 등 완화된 의무가 적용되며, 초소형 기업은 대리인을 지정할 수 있습니다. 규정 위반 시 기업의 연간 EU 내 총매출액의 최대 4%에 달하는 과징금이 부과될 수 있습니다.
EUDR은 2023년 6월 29일 발효되었으며, 2024년 12월부터 전면 시행될 예정입니다. 그러나 대기업은 2025년 12월, 중소기업은 2026년 6월로 시행 시기를 연기하자는 제안이 논의되고 있습니다.
Social security contributions are a key aspect of your obligations to the state, paid by working citizens, the self-employed, and tradespeople, with adjustments made twice a year. For 2025, changes to
사회보험료 납부는 국가에 대한 중요한 의무 중 하나입니다. 근로자, 자영업자 등 소득 활동을 하는 국민이라면 모두 납부 대상이 되며, 보험료는 정기적으로 조정됩니다. 보험료는 국가의 평균 임금 변동에 따라 달라지며, 보험료 산정을 위한 소득 상한선과 하한선이 정해져 있습니다. 자영업자의 경우에도 납부해야 할 최소 보험료가 규정되어 있으며, 보험료를 기한 내
Social security contributions are a key aspect of your obligations to the state, paid by working citizens, the self-employed, and tradespeople, with adjustments made twice a year. For 2025, changes to the minimum living standard law impact tax limits for individuals. The non-taxable portion of the tax base is EUR 5,753.79 for the taxpayer and EUR 5,260.61 for a spouse, with income tax rates of 19% up to EUR 48,441.43 and 25% above that. A tax return is required if income exceeds EUR 2,876.90.
Social security contributions are influenced by changes in the average monthly wage in Slovakia, which for 2023 is EUR 1,430. The maximum assessment base for social insurance is EUR 10,010, and the minimum is EUR 715. Minimum social and health insurance contributions for the self-employed are EUR 344.27. Penalties for late payments are 0.05% per day, but only if exceeding EUR 5.
Tax bonuses for dependents will change in 2025, decreasing to EUR 100 for children under 15, EUR 50 for those under 18, and EUR 0 for those over 18. The minimum wage for 2025 is set at EUR 816 per month or EUR 4.690 per hour, calculated as 57% of the average monthly wage. The minimum wage varies based on the difficulty level of the job, with corresponding coefficients affecting both monthly and hourly rates.
사회보험료 납부는 국가에 대한 중요한 의무 중 하나입니다. 근로자, 자영업자 등 소득 활동을 하는 국민이라면 모두 납부 대상이 되며, 보험료는 정기적으로 조정됩니다. 보험료는 국가의 평균 임금 변동에 따라 달라지며, 보험료 산정을 위한 소득 상한선과 하한선이 정해져 있습니다. 자영업자의 경우에도 납부해야 할 최소 보험료가 규정되어 있으며, 보험료를 기한 내에 납부하지 않으면 연체료가 부과될 수 있습니다.
세법 개정에 따라 개인의 소득세 납부 기준이 변경될 수 있습니다. 납세자 본인과 배우자에 대해 일정 금액까지는 세금이 부과되지 않는 비과세 혜택이 주어지며, 소득 구간에 따라 세율이 차등 적용됩니다. 일정 소득을 초과하면 종합소득세 신고가 의무화됩니다. 또한, 부양 자녀의 연령에 따라 차등적으로 세금 공제 혜택이 주어지지만, 이 기준은 변경될 수 있습니다.
최저임금은 국가의 평균 임금과 연동하여 결정됩니다. 월급과 시급으로 각각 고시되며, 직무의 난이도에 따라 여러 등급으로 나뉘어 차등 적용됩니다. 이에 따라 실제 최저임금은 직급별로 달라질 수 있습니다.
The Council of ECOFIN recently addressed the issue of non-cooperative countries, often referred to as a "blacklist," which are identified by international organizations and governments for failing to
최근 유럽 연합 경제재무이사회(ECOFIN)는 조세 비협조국, 일명 '블랙리스트' 문제를 논의했습니다. 이 리스트는 조세 투명성, 자금세탁 방지, 테러자금 조달 방지 관련 국제 기준을 충족하지 못하는 국가들을 대상으로 합니다.
2024년 10월 8일 회의 결과, 앤티가 바부다는 조세 제도 개선 노력을 인정받아 블랙리스트에서 제외되고, 한 단계 낮은 감시
The Council of ECOFIN recently addressed the issue of non-cooperative countries, often referred to as a "blacklist," which are identified by international organizations and governments for failing to meet standards in tax transparency, anti-money laundering, and counter-terrorism financing. Following the October 8, 2024 meeting, Antigua and Barbuda was removed from the blacklist and placed on a grey list due to a review of its current tax status. No new countries were added.
The current list includes American Samoa, Anguilla, Fiji, Guam, Palau, Panama, Russia, Samoa, Trinidad and Tobago, the U.S. Virgin Islands, and Vanuatu. A review is scheduled for February 2025.
Countries end up on the list for reasons such as non-compliance with international standards, refusal to cooperate, and a high risk of money laundering. Consequences include economic sanctions, increased trade costs, and reputational damage. To be removed, countries implement reforms such as transparent tax policies, strengthened banking regulations, and improved anti-money laundering legislation, also committing to international cooperation. Trading with companies based in these countries can trigger scrutiny from Slovak tax authorities.
Taxation of Crypto Assets in Slovakia – Changes from 2024/2025
スロバキアの暗号資産課税:2024年/2025年からの変更点
斯洛伐克加密资产税收:2024/2025年度变更
슬로바키아 가상자산 과세: 2024/2025년 변경사항
06.12.2024
The Markets in Crypto-Assets (MiCA) regulation introduces a harmonized regulatory framework for crypto-asset markets across the EU. In Slovakia, Law No. 248/2024 implements MiCA, effective November 1,
유럽연합(EU)의 암호자산 시장 규제(MiCA)는 EU 전역에 걸쳐 통일된 암호자산 규제 체계를 도입하는 것을 목표로 합니다. 슬로바키아에서는 2024년 11월 1일부터 관련 법률(제248/2024호)이 시행됨에 따라 MiCA 규정이 본격적으로 적용됩니다. 이 법은 암호자산의 보관, 자문 서비스, 정보 제공 의무, 슬로바키아 국립은행(NBS)의 감독 권한,
The Markets in Crypto-Assets (MiCA) regulation introduces a harmonized regulatory framework for crypto-asset markets across the EU. In Slovakia, Law No. 248/2024 implements MiCA, effective November 1, 2024, addressing crypto-asset custody, advisory services, information obligations, supervision by the National Bank of Slovakia (NBS), sanctions, activity restrictions, and blocking online interfaces. The NBS will oversee compliance from June 30, 2024, focusing on licensed entities, although non-supervised entities can operate until June 30, 2026.
MiCA distinguishes between electronic money tokens (EMTs), asset-referenced tokens (ARTs), and other crypto-assets. Banks or electronic money institutions can offer EMTs from June 30, 2024, after notifying the NBS and submitting a whitepaper. Banks or NBS-licensed entities can offer ARTs from the same date. Other crypto-assets can be offered by legal entities submitting a whitepaper to the NBS from December 30, 2024.
Amendments to income tax and accounting laws, effective January 1, 2025, address crypto-asset taxation. Issues remain regarding the uniform treatment of diverse crypto-assets. Electronic money tokens are now treated as standard currencies for accounting valuation. Taxable income for individuals from crypto-asset exchanges is subject to 19% or 25% income tax and 15% health insurance contribution. Corporations must record crypto-assets as intangible assets, with taxable income calculated as the difference between purchase and sale prices. Investing in crypto-assets via securities like ETFs may provide income tax exemptions for individuals. Since 2024, detailed reporting of crypto transactions is mandatory.
유럽연합(EU)의 암호자산 시장 규제(MiCA)는 EU 전역에 걸쳐 통일된 암호자산 규제 체계를 도입하는 것을 목표로 합니다. 슬로바키아에서는 2024년 11월 1일부터 관련 법률(제248/2024호)이 시행됨에 따라 MiCA 규정이 본격적으로 적용됩니다. 이 법은 암호자산의 보관, 자문 서비스, 정보 제공 의무, 슬로바키아 국립은행(NBS)의 감독 권한, 제재, 사업 활동 제한, 불법 온라인 사이트 차단 등의 내용을 포함합니다. NBS는 2024년 6월 30일부터 인가받은 기업을 중심으로 규제 준수 여부를 감독하며, 기존 사업자는 2026년 6월 30일까지 유예 기간을 적용받아 사업을 계속할 수 있습니다.
MiCA 규정은 암호자산을 전자화폐 토큰(EMT), 자산준거 토큰(ART), 그리고 그 외 기타 암호자산으로 구분합니다. 2024년 6월 30일부터 은행이나 전자화폐 기관은 NBS에 신고하고 관련 백서를 제출하면 전자화폐 토큰을 발행할 수 있습니다. 자산준거 토큰 역시 같은 날부터 은행이나 NBS의 인가를 받은 기관이 발행할 수 있습니다. 그 외 다른 암호자산은 2024년 12월 30일부터 법인이 NBS에 백서를 제출한 후 시장에 제공할 수 있게 됩니다.
2025년 1월 1일부터는 암호자산 과세에 대한 소득세법 및 회계법 개정안도 시행됩니다. 다만, 다양한 종류의 암호자산을 동일하게 취급하는 문제에 대해서는 여전히 과제가 남아있습니다. 회계상 전자화폐 토큰은 이제 일반 화폐와 동일하게 평가됩니다. 개인의 경우, 암호자산 거래로 발생한 소득에 대해 19% 또는 25%의 소득세와 15%의 건강보험료가 부과됩니다. 법인은 암호자산을 무형자산으로 기록해야 하며, 과세 소득은 매매 차익으로 계산됩니다. ETF와 같은 증권을 통해 암호자산에 투자할 경우, 개인은 소득세 비과세 혜택을 받을 수도 있습니다. 2024년부터는 모든 암호자산 거래 내역을 상세히 신고해야 합니다.
Our company, Moore BDR, has been a professional guarantor of the Taxpayer of the Year category in the TREND TOP poll for several years. This year again, we collaborated with colleagues to compile the
저희 Moore BDR은 수년간 ‘TREND TOP 어워드’의 '올해의 납세 기업' 부문을 전문적으로 주관하며 순위 선정 및 슬로바키아의 조세 환경 분석에 참여해왔습니다.
2023년 한 해 동안 약 3억 유로의 세금 및 부담금을 납부한 폭스바겐 슬로바키아(Volkswagen Slovakia, a.s.)가 올해도 '올해의 납세 기업'으로 선정되었습니다.
Our company, Moore BDR, has been a professional guarantor of the Taxpayer of the Year category in the TREND TOP poll for several years. This year again, we collaborated with colleagues to compile the ranking and assess the current situation in Slovakia regarding taxes and levies.
Volkswagen Slovakia, a.s., once again became the Taxpayer of the Year, having paid almost 300 million euros in taxes and levies in 2023.
Based on our survey among selected companies, we also assessed the current "mood" in the area of tax and levy issues in Slovakia.
More information about the Taxpayer of the Year category can be found in our article, published in the supplement of the current issue of TREND magazine.
Winners of the TREND TOP 2024 poll can be found at https://www.trend.sk.
Moore BDR, a long-standing expert guarantor of the "Taxpayer of the Year" category in the TREND TOP poll, participated in compiling the ranking and assessing Slovakia's tax and levy environment. Volkswagen Slovakia, a.s., was again named Taxpayer of the Year, contributing nearly 300 million euros in taxes and levies in 2023. A survey conducted by Moore BDR among selected companies revealed the current sentiment regarding tax and levy issues in Slovakia. Further details about the Taxpayer of the Year category can be found in Moore BDR's article within the current TREND magazine supplement. The complete list of TREND TOP 2024 winners is available at https://www.trend.sk. The article encourages reader feedback.
The European Parliament adopted Directive 2024/1760 on Corporate Sustainability Due Diligence (CSDD), aiming to ensure companies operating in the EU take responsibility for their impact on society and
유럽 의회는 EU 내 기업이 사회와 환경에 미치는 영향에 책임을 지도록 하는 '기업 지속가능성 실사 지침(CSDD)'을 채택했습니다. 기업은 자사의 운영 및 공급망 전반에서 인권, 환경, 지배구조에 미치는 부정적 영향을 파악하고 해결해야 합니다.
이 지침은 직원 1,000명 및 전 세계 매출 4억 5천만 유로를 초과하는 EU 기업과 EU 내 매출이 4억
The European Parliament adopted Directive 2024/1760 on Corporate Sustainability Due Diligence (CSDD), aiming to ensure companies operating in the EU take responsibility for their impact on society and the environment. Companies must identify and mitigate adverse effects on human rights, the environment, and good governance throughout their operations and supply chains.
The directive applies to EU companies with over 1,000 employees and a global turnover exceeding €450 million, as well as non-EU companies with a turnover exceeding €450 million within the EU. It also covers companies with franchising or licensing agreements meeting specific criteria.
Companies must integrate due diligence into their policies, assess impacts, prevent and mitigate adverse effects, ensure remediation, engage stakeholders, establish grievance mechanisms, monitor due diligence effectiveness, and communicate publicly about their efforts. Subsidiaries must cooperate with parent companies, adhere to due diligence policies, and implement appropriate measures.
Challenges include establishing control mechanisms, adjusting internal regulations, ensuring data accuracy, and aligning executive compensation with sustainability goals. Benefits include creating a sustainable economy, improving risk assessment, reducing reputational risks, and enhancing access to financing. EU member states are expected to transpose the directive into national law by July 26, 2026, with phased implementation based on company size and turnover.
유럽 의회는 EU 내 기업이 사회와 환경에 미치는 영향에 책임을 지도록 하는 '기업 지속가능성 실사 지침(CSDD)'을 채택했습니다. 기업은 자사의 운영 및 공급망 전반에서 인권, 환경, 지배구조에 미치는 부정적 영향을 파악하고 해결해야 합니다.
이 지침은 직원 1,000명 및 전 세계 매출 4억 5천만 유로를 초과하는 EU 기업과 EU 내 매출이 4억 5천만 유로를 넘는 역외 기업에 적용됩니다. 특정 요건을 충족하는 프랜차이즈 또는 라이선스 계약을 맺은 기업도 포함됩니다.
기업은 실사 의무를 정책에 통합하고, 부정적 영향을 평가·예방·완화하며, 피해 구제를 보장하고, 이해관계자와 소통하며 고충처리 절차를 마련해야 합니다. 또한 실사 과정의 효과를 지속적으로 점검하고 그 결과를 대외에 공개해야 합니다. 자회사는 모회사와 협력하여 실사 정책을 준수하고 관련 조치를 이행해야 합니다.
지침 이행을 위해서는 내부 통제 시스템 구축, 관련 규정 정비, 데이터 정확성 확보, 경영진 성과 보상을 지속가능성 목표와 연계하는 등의 과제가 있습니다. 반면, 지침 준수를 통해 지속가능한 경제를 구축하고 기업의 리스크 관리 능력을 개선하며, 평판 위험을 줄이고 자금 조달 기회를 확대하는 긍정적 효과도 기대됩니다. EU 회원국들은 2026년 7월 26일까지 이 지침을 자국법에 반영해야 하며, 이후 기업 규모와 매출에 따라 단계적으로 시행됩니다.
The Slovak government has approved amendments to excise duties and introduced a new tax on sweetened beverages, effective January 1, 2025. This tax targets businesses making the first supply of sweete
슬로바키아 정부가 소비세법 개정안을 승인함에 따라 2025년 1월 1일부터 가당음료에 대한 새로운 세금, 이른바 '설탕세'가 도입됩니다. 이 세금은 슬로바키아 내에서 설탕이나 인공 감미료가 첨가된 비알코올 음료를 처음으로 제조하거나 유통하는 사업자에게 부과됩니다.
과세 대상은 가향 광천수, 주스, 콜라, 가당 무알코올 맥주, 아이스 커피, 아이스티 등 포
The Slovak government has approved amendments to excise duties and introduced a new tax on sweetened beverages, effective January 1, 2025. This tax targets businesses making the first supply of sweetened non-alcoholic drinks containing added sugar or sweeteners in Slovakia. Affected beverages include packaged sweetened non-alcoholic drinks (flavored mineral waters, juices, colas, sweetened non-alcoholic beer, iced coffees, teas), packaged concentrates (syrups, instant and powdered drinks), and energy drinks with over 150mg of caffeine per liter. Exemptions exist for sweetened drinks in medicine form, nutritional supplements, infant formula, and food for specific medical purposes. Tax rates vary: €0.15/liter for packaged drinks, €0.30/liter for high-caffeine drinks, and €1.05/liter or €4.30/kg for concentrates (€2.10/liter or €8.60/kg for high-caffeine concentrates). A rule addresses pre-tax stockpiling for entities audited by auditors, requiring monitoring of acquired sweetened beverage quantities from July to December 2024.
The excise duty law on tobacco products has also been amended, expanding the range of taxable products to include raw tobacco, smokeless tobacco products, related products, nicotine products and pouches, heated tobacco, and smokeless alternatives (e-cigarettes). These products will require mandatory control markings. Smokeless tobacco products are defined, and their tax base is determined by the quantity of filling in kilograms (for inhalable products) or grams (for non-inhalable products). Specific regulations govern the distribution of smokeless tobacco, requiring permits in certain situations. "Related tobacco products" now encompass e-cigarette refills, nicotine pouches, and other nicotine products. Their sale below the tax amount is prohibited, and they must be marked with "ITV" before sale. Excise duty rates for tobacco products have increased significantly, effective November 1, 2024, with further changes planned for February 2025 and January 2026. However, these future changes may be reconsidered depending on the need for continued fiscal consolidation. The government anticipates expanding excise duties to new tobacco products in the future.
슬로바키아 정부가 소비세법 개정안을 승인함에 따라 2025년 1월 1일부터 가당음료에 대한 새로운 세금, 이른바 '설탕세'가 도입됩니다. 이 세금은 슬로바키아 내에서 설탕이나 인공 감미료가 첨가된 비알코올 음료를 처음으로 제조하거나 유통하는 사업자에게 부과됩니다.
과세 대상은 가향 광천수, 주스, 콜라, 가당 무알코올 맥주, 아이스 커피, 아이스티 등 포장된 가당 비알코올 음료와 시럽, 분말 형태의 농축액, 그리고 리터당 카페인 함량이 150mg을 초과하는 에너지 드링크 등입니다. 다만, 의약품 형태의 음료, 영양 보충제, 영유아용 조제분유 및 특수 의료용 식품은 과세 대상에서 제외됩니다.
세율은 일반 포장 음료는 리터당 0.15유로, 고카페인 음료는 리터당 0.30유로이며, 농축액의 경우 리터당 1.05유로 또는 kg당 4.30유로가 부과됩니다. 고카페인 농축액은 세율이 리터당 2.10유로 또는 kg당 8.60유로로 더 높습니다. 또한, 세금 부과 전 음료 사재기를 방지하기 위해 외부 감사를 받는 기업은 2024년 7월부터 12월까지의 가당음료 매입량을 의무적으로 관리해야 합니다.
한편, 담배 제품에 대한 소비세법도 개정되어 과세 대상이 대폭 확대되었습니다. 기존 담배 제품 외에 생담뱃잎, 무연 담배, 니코틴 파우치, 궐련형 전자담배 및 액상형 전자담배 등 니코틴을 함유한 대체 제품들이 모두 과세 대상에 포함되며, 이들 제품에는 납세필증 부착이 의무화됩니다.
특히 전자담배 액상, 니코틴 파우치 등 '유사 담배 제품'은 세액보다 낮은 가격으로 판매하는 것이 금지되며, 판매 전 'ITV'라는 표기를 부착해야 합니다. 담배 제품에 대한 소비세율은 2024년 11월 1일부터 인상되며, 2025년 2월과 2026년 1월에 추가 인상이 예정되어 있습니다. 다만, 향후 세율 조정은 정부의 재정 건전화 필요성에 따라 재검토될 수 있습니다. 정부는 앞으로도 새로운 형태의 담배 제품에 소비세를 계속 확대해 나갈 방침입니다.
I attended the Moore Global Tax Conference in Budapest from October 22nd to 24th. The two-day conference provided an excellent platform for sharing experiences and discussing key tax challenges across
저는 10월 22일부터 24일까지 헝가리 부다페스트에서 개최된 'Moore Global Tax Conference'에 참석했습니다. 이틀간 진행된 이번 컨퍼런스는 Moore Global이 진출한 여러 국가의 경험을 공유하고, 주요 세무 현안을 논의하는 훌륭한 교류의 장이었습니다. 또한 그룹 내부 운영을 평가하고 새로운 과제에 대응하는 기회이기도 했습니다.
I attended the Moore Global Tax Conference in Budapest from October 22nd to 24th. The two-day conference provided an excellent platform for sharing experiences and discussing key tax challenges across various countries where Moore Global operates. It also served as an opportunity to evaluate internal operations within the group and address new challenges.
The conference featured engaging presentations on current topics, including practical approaches to international taxation, client demands in tax advisory, marketing strategies for promoting services, approaches to AI in tax, and case studies on international tax policy.
The event proved valuable for networking with new and long-standing colleagues. The discussions provided inspiration in the tax field, which will be used in our company's consulting services.
I would like to thank the colleagues from Moore Global for their hospitality and excellent organization of the conference. Please contact us if you need help.
저는 10월 22일부터 24일까지 헝가리 부다페스트에서 개최된 'Moore Global Tax Conference'에 참석했습니다. 이틀간 진행된 이번 컨퍼런스는 Moore Global이 진출한 여러 국가의 경험을 공유하고, 주요 세무 현안을 논의하는 훌륭한 교류의 장이었습니다. 또한 그룹 내부 운영을 평가하고 새로운 과제에 대응하는 기회이기도 했습니다.
컨퍼런스에서는 국제 조세의 실무적 접근법, 세무 자문 분야의 고객 요구사항, 서비스 홍보를 위한 마케팅 전략, 세무 분야의 AI 활용 방안, 국제 조세 정책 사례 연구 등 최신 현안에 대한 심도 있는 발표가 이어졌습니다.
이번 행사는 신규 및 기존 동료들과 교류할 수 있는 귀중한 시간이었습니다. 컨퍼런스에서 나눈 논의들은 세무 분야에 새로운 영감을 주었으며, 이는 당사 컨설팅 서비스에도 적극적으로 활용될 것입니다.
성공적으로 컨퍼런스를 준비하고 따뜻하게 맞아주신 Moore Global 관계자분들께 감사의 말씀을 전합니다. 도움이 필요하시면 언제든지 연락 주십시오.
Inspirational Moore Global Legal Conference in Wrocław!
インスピレーションに満ちた、ヴロツワフでのムーア・グローバル・リーガルカンファレンス!
启迪人心的摩尔全球弗罗茨瓦夫法律盛会!
브로츠와프에서 열린 영감 가득한 무어 글로벌 법률 컨퍼런스
21.10.2024
On October 11-12, I attended a conference in Wrocław with legal representatives from Moore Global partner firms. The two-day event offered an excellent opportunity to exchange experiences, discuss key
지난 10월 11일부터 12일까지 폴란드 브로츠와프에서 열린 Moore Global 파트너 로펌 법률 전문가 컨퍼런스에 참석했습니다. 이틀간 진행된 이번 행사에서는 다양한 국가의 주요 법률 현안을 논의하고 공동으로 수행한 국제 프로젝트 경험을 공유하는 뜻깊은 시간을 가졌습니다.
컨퍼런스에서는 다음과 같은 주요 주제에 대한 발표가 있었습니다: 법률 서비스
On October 11-12, I attended a conference in Wrocław with legal representatives from Moore Global partner firms. The two-day event offered an excellent opportunity to exchange experiences, discuss key legal challenges in various countries, and summarize jointly implemented cross-border projects.
During the conference, colleagues presented on topics including the use of artificial intelligence in legal services, the importance of Asia Desks for national and international projects, the latest ESG regulations with a practical case study, cross-border conversions and their international significance, and the growing role of state aid in the EU within the context of global competition.
The event provided a valuable opportunity for networking, fostering communication with participants, meeting new colleagues, and gaining inspiration for business endeavors. Gratitude was expressed to Olesiński i Wspólnicy for their hospitality and excellent organization, as well as to Moore Global Legal colleagues. The author encourages readers to contact them for assistance.
Summary:
The author attended a two-day Moore Global legal conference in Wrocław, focusing on international legal challenges and collaborative projects. Key topics included AI in legal services, Asia Desks, ESG regulations, cross-border conversions, and EU state aid. The conference facilitated experience exchange, networking with legal professionals from various countries, and inspired new business ideas. The author expressed gratitude to the organizers, Olesiński i Wspólnicy, and Moore Global Legal colleagues, inviting readers to seek their legal assistance.
衷心感谢主办方Olesiński i Wspólnicy律师事务所及Moore Global Legal所有同仁的精心组织和热情接待。如需法律协助,欢迎随时联系我们。
지난 10월 11일부터 12일까지 폴란드 브로츠와프에서 열린 Moore Global 파트너 로펌 법률 전문가 컨퍼런스에 참석했습니다. 이틀간 진행된 이번 행사에서는 다양한 국가의 주요 법률 현안을 논의하고 공동으로 수행한 국제 프로젝트 경험을 공유하는 뜻깊은 시간을 가졌습니다.
컨퍼런스에서는 다음과 같은 주요 주제에 대한 발표가 있었습니다: 법률 서비스 분야의 인공지능(AI) 활용, 국내외 프로젝트에서 아시아 데스크의 중요성, 최신 ESG 규제 동향과 실제 적용 사례, 국경 간 기업 전환의 국제적 중요성, 그리고 글로벌 경쟁 속 EU의 정부 보조금 역할 확대.
또한 이번 행사는 다양한 국가의 법률 전문가들과 네트워크를 형성하고, 새로운 비즈니스 영감을 얻을 수 있는 소중한 기회였습니다. 훌륭한 행사와 따뜻한 환대를 보여준 Olesiński i Wspólnicy와 Moore Global Legal 동료들에게 깊은 감사를 전합니다. 법률 자문이 필요하시면 언제든지 문의해 주시기 바랍니다.
**요약:**
작성자는 브로츠와프에서 이틀간 열린 Moore Global 법률 컨퍼런스에 참석하여, 국제 법률 문제와 협력 프로젝트에 대해 논의했습니다. 주요 의제로는 법률 서비스의 AI 활용, 아시아 데스크의 중요성, ESG 규제, 국경 간 기업 전환, EU 정부 보조금 등이 다루어졌습니다. 이번 컨퍼런스는 다양한 국가의 법률 전문가들과 경험을 교류하고 새로운 사업 아이디어를 얻는 네트워킹의 장이었습니다. 작성자는 주최 측인 Olesiński i Wspólnicy와 Moore Global Legal 동료들에게 감사를 표하며 독자들의 법률 자문 문의를 환영한다고 밝혔습니다.
The Slovak Parliament approved a new consolidation package effective from 2025 to improve public finances, impacting the business environment. Key changes include amendments to the Income Tax Act, VAT
슬로바키아 의회는 공공 재정 개선을 위해 2025년부터 시행될 새로운 재정 건전화 방안을 승인했습니다. 이 방안은 기업 환경에도 영향을 미칠 예정이며, 주요 변경 사항은 소득세법, 부가가치세법, 사회보험법 개정, 특정 규제 산업에 대한 특별 부담금, 그리고 석유, 천연가스, 석탄 분야의 연대 기여금 등입니다.
소득세법의 주요 변경 내용은 다음과 같습니다.
The Slovak Parliament approved a new consolidation package effective from 2025 to improve public finances, impacting the business environment. Key changes include amendments to the Income Tax Act, VAT Act, Social Insurance Act, special levy in regulated sectors, and the solidarity contribution from activities in oil, natural gas, and coal sectors.
Income Tax changes involve adjustments to employee income from company car use, with preferential treatment for electric and hybrid vehicles. The threshold for the lower tax rate increases to €100,000, with corresponding changes to tax rates for different income brackets and dividend withholding tax. Rules regarding depreciation of assets are also modified. Expenses for fuel are now determined by average monthly prices published by the Statistical Office. The period for applying investment plans is extended to six years. The tax bonus for children over 18 is eliminated, and the calculation for younger children is adjusted. Individuals can now allocate 2% of their paid income tax to a parent who is a pensioner, subject to certain conditions.
The VAT Act increases the standard VAT rate to 23% and adjusts rates for various goods and services, including food, beverages, and recreational activities. The Social Insurance Act increases the maximum monthly assessment base for social security contributions to 11 times one-twelfth of the general assessment base. The Social Insurance Agency is required to provide data to the Financial Directorate regarding pensioners and their relatives for the allocation of the 2% tax share.
The special levy in regulated sectors now applies to entities involved in petroleum product manufacturing and chemical processing. The solidarity contribution calculation is amended to account for differences between the tax base and the average of previous tax bases.
슬로바키아 의회는 공공 재정 개선을 위해 2025년부터 시행될 새로운 재정 건전화 방안을 승인했습니다. 이 방안은 기업 환경에도 영향을 미칠 예정이며, 주요 변경 사항은 소득세법, 부가가치세법, 사회보험법 개정, 특정 규제 산업에 대한 특별 부담금, 그리고 석유, 천연가스, 석탄 분야의 연대 기여금 등입니다.
소득세법의 주요 변경 내용은 다음과 같습니다. 법인 차량 사용에 따른 근로소득 산정 방식이 조정되며, 특히 전기차와 하이브리드 차량에는 우대 조치가 적용됩니다. 낮은 세율이 적용되는 소득 기준은 10만 유로로 상향 조정되고, 소득 구간별 세율과 배당소득 원천징수세율도 함께 변경됩니다. 자산 감가상각 관련 규정도 수정됩니다. 유류비는 통계청이 발표하는 월평균 가격을 기준으로 산정하게 되며, 투자 계획 적용 기간은 6년으로 연장됩니다. 18세 이상 자녀에 대한 세액 공제는 폐지되고, 미성년 자녀에 대한 계산 방식은 조정됩니다. 또한, 특정 조건을 충족할 경우 납부한 소득세의 2%를 연금 수급자인 부모에게 이전하도록 지정할 수 있습니다.
부가가치세법 개정으로 기본 부가세율은 23%로 인상되며, 식료품, 음료, 여가 활동 등 다양한 상품과 서비스에 대한 세율이 조정됩니다. 사회보험법에 따라 사회보험료의 월 최대 부과 기준액은 일반 산정 기준액의 12분의 1에 해당하는 금액의 11배로 상향됩니다. 사회보험공단은 납세자가 소득세 2%를 부모에게 이전할 수 있도록 연금 수급자 및 그 친족 관련 정보를 재무 관리국에 제공해야 합니다.
규제 산업에 대한 특별 부담금은 석유제품 제조업 및 화학 처리업에도 확대 적용됩니다. 연대 기여금의 산정 방식은 새로운 과세표준과 과거 평균 과세표준의 차액을 반영하여 계산되도록 개정됩니다.
Transaction Tax - A New Tax on Financial Transactions
取引税 ― 金融取引への新税
交易税——一种针对金融交易的新税种
금융거래세 - 금융 거래에 부과되는 새로운 세금
14.10.2024
The Slovak Parliament has approved a new tax on financial transactions, effective from 2025, as part of a consolidation process aimed at increasing state budget revenue. This transaction tax applies t
슬로바키아 의회가 재정 건전화 및 세수 확대를 위해 2025년부터 새로운 금융 거래세를 도입하는 법안을 통과시켰습니다. 이 세금은 기업 규모나 형태에 관계없이 회사, 은행, 병원, 금융 서비스 제공업체, 종교 단체, 자영업자 등 슬로바키아의 모든 사업자에게 적용됩니다.
과세 대상은 결제 서비스를 이용하는 모든 개인 및 법인 사업자이며, 사회보험공단, 정부
The Slovak Parliament has approved a new tax on financial transactions, effective from 2025, as part of a consolidation process aimed at increasing state budget revenue. This transaction tax applies to all businesses in Slovakia, regardless of size or status, including companies, banks, healthcare providers, financial service providers, religious organizations, and self-employed individuals.
The tax applies to all business entities (individuals and legal entities) that are clients of payment service providers conducting financial transactions, but excludes the Social Insurance Agency, state budget organizations, municipalities, and individual citizens. The responsibility for remitting the tax falls on the financial service provider, which may be a bank or entrepreneur whose payments from foreign accounts or re-invoiced costs relate to their business activities in Slovakia, or who conducts financial operations on a non-transaction account.
The tax applies to payment services such as transfers, payments via card or other means, direct debits, credit operations, and money transfers. Taxable transactions include transfers from a business account, card payments, and re-invoiced costs related to business activities in Slovakia. Exempt transactions include receipts of funds, tax and social security payments, reversed payments, securities management, government bond purchases, foreign exchange operations, and intra-bank transfers.
The tax rate is 0.4% (max €40) for cashless transfers and 0.8% for cash withdrawals, plus €2 per card payment, and 0.4% for re-invoiced costs with a minimum tax of €0.01. The tax period is monthly, with the first payment due in April 2025. Banks calculate and remit the tax monthly, submitting reports to the tax authority. Businesses must use a dedicated transaction account and can request clarification on tax calculations within 12 months. The transaction tax is tax-deductible for businesses. Starting in 2025 businesses that are required to use a cash register will also be required to accept cashless payments.
슬로바키아 의회가 재정 건전화 및 세수 확대를 위해 2025년부터 새로운 금융 거래세를 도입하는 법안을 통과시켰습니다. 이 세금은 기업 규모나 형태에 관계없이 회사, 은행, 병원, 금융 서비스 제공업체, 종교 단체, 자영업자 등 슬로바키아의 모든 사업자에게 적용됩니다.
과세 대상은 결제 서비스를 이용하는 모든 개인 및 법인 사업자이며, 사회보험공단, 정부 예산 기관, 지방 자치 단체, 그리고 일반 개인은 과세 대상에서 제외됩니다. 세금 납부 의무는 은행과 같은 금융 서비스 제공자에게 있습니다. 슬로바키아 내 사업과 관련된 해외 계좌 결제나 비용 재청구, 또는 비거래용 계좌로 금융 거래를 하는 사업자의 경우에도 해당 금융 기관이 납세 의무를 집니다.
주요 과세 대상 거래는 계좌 이체, 카드 결제, 자동 이체, 신용 거래, 송금 등이며, 구체적으로 사업용 계좌 이체, 카드 결제, 사업 활동 관련 비용 재청구 등이 포함됩니다. 반면, 계좌 입금, 세금 및 사회보장비 납부, 결제 취소, 증권 관리, 국채 매입, 외환 거래, 동일 은행 내 계좌 간 이체 등은 비과세 대상입니다.
세율은 비현금 이체 시 0.4%(최대 40유로), 현금 인출 시 0.8%입니다. 카드 결제에는 건당 2유로가 추가로 부과되며, 사업 관련 비용 재청구 거래에는 0.4%(최소 0.01유로)의 세율이 적용됩니다.
과세 기간은 매월이며, 첫 세금 납부는 2025년 4월에 이루어집니다. 은행은 매월 세금을 계산하여 세무 당국에 신고 및 납부해야 합니다. 사업자는 전용 거래 계좌를 사용해야 하며, 세금 계산 내역에 대해 12개월 이내에 설명을 요청할 수 있습니다. 이 거래세는 사업자의 소득세 신고 시 비용으로 처리할 수 있습니다. 또한 2025년부터 금전등록기 사용 의무가 있는 사업자는 비현금 결제 수단도 의무적으로 도입해야 합니다.
Effective since January 1, 2013, Slovakian Law No. 394/2012 restricts cash payments, setting conditions for prohibiting certain transactions. It applies to individuals (including entrepreneurs), legal
슬로바키아에서는 2013년 1월 1일부터 법률(394/2012호)에 따라 현금 결제가 제한됩니다. 2023년 7월 1일부터 현금 결제 한도는 15,000유로이며, 이 규정은 개인, 사업자, 법인 등 모든 거래 주체에 적용됩니다.
단, 결제 서비스, 환전, 지폐 및 주화 처리, 법원 절차, 해외 파병 군대 관련 지불, 세무 및 관세 행정 등의 경우에는 예외
Effective since January 1, 2013, Slovakian Law No. 394/2012 restricts cash payments, setting conditions for prohibiting certain transactions. It applies to individuals (including entrepreneurs), legal entities, and other subjects. As of July 1, 2023, cash payments are capped at €15,000.
Exceptions exist for payment services, currency exchange, banknote/coin processing, court proceedings, payments related to foreign military missions, tax administration, and customs enforcement.
Violations are penalized with fines: up to €10,000 for individuals and up to €150,000 for legal entities and entrepreneurs. Fine amounts consider the severity, method, consequences, and circumstances of the violation.
The law is suspended during crises, war, or states of emergency. Currently, a state of emergency is declared in Slovakia, lifting cash payment restrictions. Legal advice is available upon request.
The Slovak Parliament has enacted changes to the Labor Code, impacting employee benefits and subcontractor liability. Effective January 1, 2025, employees can transfer recreation contribution rights (
2025년 1월 1일부터 근로자는 본인의 휴가비 지원 혜택을 부모(부모의 배우자 포함)에게 양도할 수 있습니다. 근로자가 동반하지 않아도 혜택을 사용할 수 있으며, 이는 국내 관광을 활성화하고 저소득층 부모를 지원하기 위한 조치입니다. 이에 따라 기업은 가족 관계 확인 시
The Slovak Parliament has enacted changes to the Labor Code, impacting employee benefits and subcontractor liability. Effective January 1, 2025, employees can transfer recreation contribution rights (formerly known as recreation vouchers) to their parents, including a parent's spouse, even if the employee doesn't accompany them. This aims to boost domestic tourism and aid parents with lower incomes. Employers should update internal regulations accordingly, considering GDPR when verifying family status.
Furthermore, a new amendment, effective August 1, 2024, addresses subcontractor liability to ensure employees receive proper wages. This change, primarily concerning construction work, allows employees of subcontractors to claim unpaid wages up to the minimum wage from the main service provider if their direct employer fails to pay. The claim must be made in writing within six months of the wage due date. The service provider has 30 days to pay upon receiving the claim. The service provider can refuse payment if they can demonstrate they exercised due diligence in selecting the subcontractor and had no reason to foresee wage non-payment, considering factors like the agreed price, overlapping management, lack of illegal employment violations, and financial stability of the subcontractor. Each case will be assessed individually.
2025년 1월 1일부터 근로자는 본인의 휴가비 지원 혜택을 부모(부모의 배우자 포함)에게 양도할 수 있습니다. 근로자가 동반하지 않아도 혜택을 사용할 수 있으며, 이는 국내 관광을 활성화하고 저소득층 부모를 지원하기 위한 조치입니다. 이에 따라 기업은 가족 관계 확인 시 유럽 개인정보보호규정(GDPR)을 준수하여 관련 사내 규정을 개정해야 합니다.
또한 2024년 8월 1일부터는 하청업체 근로자의 임금 체불을 방지하기 위해 원청의 책임이 강화됩니다. 주로 건설업에 적용되는 이 규정에 따라, 하청업체가 임금을 지급하지 않을 경우 해당 업체 소속 근로자는 원청에 직접 최저 임금 한도 내의 체불 임금을 청구할 수 있습니다. 청구는 임금 지급 기일로부터 6개월 이내에 서면으로 해야 하며, 원청은 청구를 받은 날로부터 30일 이내에 임금을 지급해야 합니다.
다만, 원청은 하청업체 선정 시 계약 금액의 적정성, 경영진의 독립성, 불법 고용 여부, 재정 안정성 등을 고려하여 충분한 주의를 기울였고 임금 체불을 예상할 수 없었음을 입증하는 경우 지급을 거부할 수 있습니다. 각 사안은 개별적으로 심사됩니다.
The EU's NIS 2 directive, slated to be implemented into Slovak law by October 17, 2024 (effective 2025), significantly broadens the scope of entities subject to cybersecurity regulations. The National
2025년부터 시행될 EU의 NIS 2 지침이 2024년 10월 17일까지 슬로바키아 법률로 도입됩니다. 이 지침은 사이버 보안 규제의 적용 대상을 크게 확대하며, 슬로바키아 국가안보국은 에너지, 운송, 의료 등 다양한 분야의 약 10,000개 기관이 새롭게 영향을 받을 것으로 예상합니다. 사이버 위협이 증가하는 만큼 관련 규정을 준수하는 것은 매우 중요합
The EU's NIS 2 directive, slated to be implemented into Slovak law by October 17, 2024 (effective 2025), significantly broadens the scope of entities subject to cybersecurity regulations. The National Security Bureau estimates this new legislation will impact approximately 10,000 new organizations across sectors like energy, transportation, and healthcare. Given the increasing prevalence of cyber threats, compliance is crucial.
Companies falling under NIS2 must adopt various technical and organizational measures, including implementing risk management systems, designating a cybersecurity manager, conducting regular employee training, establishing disaster recovery plans, utilizing data encryption and strong password policies, configuring devices, segmenting networks, and managing identities and access with multi-factor authentication.
Moore BDR, in collaboration with DXC Technology and LGP, offers comprehensive support in IT, cybersecurity auditing, and legal aspects to protect businesses from cyber threats. Tomáš Ferianc can assist with obtaining grants for cybersecurity development, with applications due by October 20, 2024. Contact them for assistance.
Moore BDR社は、DXC Technology社およびLGP社と連携し、IT、サイバーセキュリティ監査、法務の各分野で、企業をサイバー脅威から守るための包括的な支援を提供しています。また、担当者であるトマーシュ・フェリアンツが、サイバーセキュリティ強化を目的とした補助金の申請をサポートします。申請期限は2024年10月20日です。詳細については、お気軽にお問い合わせください。
Moore BDR公司联合DXC Technology和LGP,可在信息技术、网络安全审计及法律合规方面提供全方位支持,保护您的企业免受网络威胁。Tomáš Ferianc可协助企业申请网络安全发展补助金,申请截止日期为2024年10月20日。欢迎联系我们获取协助。
2025년부터 시행될 EU의 NIS 2 지침이 2024년 10월 17일까지 슬로바키아 법률로 도입됩니다. 이 지침은 사이버 보안 규제의 적용 대상을 크게 확대하며, 슬로바키아 국가안보국은 에너지, 운송, 의료 등 다양한 분야의 약 10,000개 기관이 새롭게 영향을 받을 것으로 예상합니다. 사이버 위협이 증가하는 만큼 관련 규정을 준수하는 것은 매우 중요합니다.
NIS 2 지침의 적용을 받는 기업은 다양한 기술적, 조직적 조치를 의무적으로 도입해야 합니다. 주요 의무 사항으로는 위험 관리 시스템 구현, 사이버 보안 책임자 지정, 정기적인 직원 교육, 재해 복구 계획 수립, 데이터 암호화 및 강력한 비밀번호 정책 사용, 기기 설정 및 네트워크 분할, 다단계 인증을 통한 신원 및 접근 관리 등이 있습니다.
Moore BDR은 DXC Technology 및 LGP와 협력하여 사이버 위협으로부터 기업을 보호하기 위한 IT, 사이버 보안 감사, 법률 자문을 포함한 포괄적인 지원을 제공합니다. Tomáš Ferianc를 통해 사이버 보안 강화를 위한 정부 지원금 신청에 대한 도움을 받으실 수 있으며, 신청 마감일은 2024년 10월 20일입니다. 도움이 필요하시면 문의해 주시기 바랍니다.
The International Congress of Family Businesses is behind us!
ファミリービジネス国際会議が無事閉幕しました。
国际家族企业大会圆满落幕!
국제 가족 기업 대회가 성황리에 막을 내렸습니다
01.10.2024
From September 19-20, the author and colleagues attended a congress at Château Bela focused on family businesses. The event fostered a familial atmosphere and provided opportunities for networking and
저희는 9월 19일부터 20일까지 샤토 벨라(Château Bela)에서 열린 가족 기업 콘퍼런스에 참석했습니다. 가족적인 분위기 속에서 진행된 이번 행사는 다양한 전문가들과 교류하고 경험을 나눌 수 있는 소중한 기회의 장이었습니다.
행사에서는 여러 흥미로운 발표가 이어졌습니다. Sonnentor의 Johannes Gutmann은 '가족 기업의 본질'에
From September 19-20, the author and colleagues attended a congress at Château Bela focused on family businesses. The event fostered a familial atmosphere and provided opportunities for networking and sharing experiences. Several interesting presentations were given, including Johannes Gutmann of Sonnentor discussing the essence of family business, Birgitta Bondonno of Moore Global questioning the accessibility of Family Offices, and Emanuele Preve of Riso Gallo exploring the role of non-family managers in family businesses.
Moore BDR s. r. o. served as a professional partner, with the author leading a workshop on practical tax optimization for family firms. The workshop provided attendees with tailored tax strategies. The congress facilitated valuable new connections and potential collaborations, and the author expressed pleasure in reconnecting with familiar faces. Those interested in the workshop presentation can contact office@moore-slovakia.sk. The author thanks the Institute of Family Business, the main organizer, for their collaboration, energy, professionalism, and drive for continuous improvement, acknowledging their role in facilitating the author's own growth. More information and presentations are available on the event website.
笔者在此由衷感谢大会主办方——家族企业研究所(the Institute of Family Business)。他们的紧密合作、专业精神、饱满热情以及追求卓越的动力,不仅成就了这次活动,也为我们自身的成长提供了宝贵契机。
更多大会信息及演讲资料,敬请访问活动官网。
저희는 9월 19일부터 20일까지 샤토 벨라(Château Bela)에서 열린 가족 기업 콘퍼런스에 참석했습니다. 가족적인 분위기 속에서 진행된 이번 행사는 다양한 전문가들과 교류하고 경험을 나눌 수 있는 소중한 기회의 장이었습니다.
행사에서는 여러 흥미로운 발표가 이어졌습니다. Sonnentor의 Johannes Gutmann은 '가족 기업의 본질'에 대해, Moore Global의 Birgitta Bondonno는 '패밀리 오피스의 접근성'에 대해, Riso Gallo의 Emanuele Preve는 '가족 기업 내 비가족 경영인의 역할'에 대해 심도 있는 인사이트를 공유했습니다.
전문 파트너로 참여한 저희 Moore BDR s. r. o.는 '가족 기업을 위한 실용적인 세금 최적화'를 주제로 워크숍을 진행하여 참석자분들께 맞춤형 세금 전략을 제공했습니다.
이번 콘퍼런스를 통해 귀중한 인연을 맺고 잠재적인 협력 기회를 모색할 수 있었으며, 반가운 얼굴들도 다시 만나 매우 기뻤습니다. 저희 워크숍 발표 자료에 관심이 있으신 분은 office@moore-slovakia.sk로 연락 주시기 바랍니다.
끝으로, 이번 행사의 주최측인 가족 기업 연구소(Institute of Family Business)에 깊은 감사를 드립니다. 그들의 긴밀한 협력, 넘치는 에너지, 높은 전문성, 그리고 끊임없이 발전하려는 노력 덕분에 저희 또한 한 단계 성장할 수 있었습니다.
The International Tax School, organized by the Moore Global network, took place in Prague this June, following extensive online studies for internal tax advisors. This program combines ongoing online
무어 글로벌 네트워크가 주최하는 '국제 조세 스쿨(International Tax School)'이 사내 세무 전문가들을 위한 사전 온라인 심화 학습을 마친 후, 올해 6월 프라하에서 개최되었습니다. 이 프로그램은 지속적인 온라인 교육과 오프라인 미팅을 결합한 과정입니다.
프라하에서는 온라인 워크숍 및 강의 내용을 바탕으로 엄선된 사례 연구를 중심으로 심
The International Tax School, organized by the Moore Global network, took place in Prague this June, following extensive online studies for internal tax advisors. This program combines ongoing online education with in-person meetings.
Outcomes from online workshops and lectures during individual study were presented and discussed in detail in Prague, focusing on selected case studies.
As the International Corporate Tax group leader, the author presented two lectures on International Corporate Income Tax.
The first lecture covered cross-border tax cases handled throughout the author's career. The second focused on the EU Directive on minimum requirements for economic activity (ATAD 3), expected to be implemented soon across EU member states.
The author expresses satisfaction that this Moore Global academy is an annual event. The next edition, 2024/2025, starts in a week, with two young colleagues from Moore BDR participating. More information about the International Tax School can be found on the Moore Global website.
무어 글로벌 네트워크가 주최하는 '국제 조세 스쿨(International Tax School)'이 사내 세무 전문가들을 위한 사전 온라인 심화 학습을 마친 후, 올해 6월 프라하에서 개최되었습니다. 이 프로그램은 지속적인 온라인 교육과 오프라인 미팅을 결합한 과정입니다.
프라하에서는 온라인 워크숍 및 강의 내용을 바탕으로 엄선된 사례 연구를 중심으로 심층적인 발표와 토론이 이루어졌습니다.
필자는 국제 법인세 그룹 리더로서 국제 법인세에 관한 두 차례의 강의를 진행했습니다.
첫 번째 강의에서는 필자가 경력 전반에 걸쳐 다루었던 국제 조세 사례들을 소개했습니다. 두 번째 강의는 곧 EU 회원국 전체에 시행될 예정인 '최소 경제활동 요건에 대한 EU 지침(ATAD 3)'을 주제로 다루었습니다.
이러한 무어 글로벌의 교육 과정이 매년 개최된다는 점을 매우 기쁘게 생각합니다. 다음 2024/2025년 과정은 일주일 후 시작되며, 저희 Moore BDR에서도 젊은 동료 두 명이 참여할 예정입니다. '국제 조세 스쿨'에 대한 더 자세한 정보는 무어 글로벌 웹사이트에서 확인하실 수 있습니다.
On Sunday, August 25, 2024, the Osmidiv festival for mentally and physically disabled children from 24 institutions across central and western Slovakia took place in the Banská Štiavnica Amphitheater.
2024년 8월 25일 일요일, 슬로바키아 중서부 24개 기관의 심신장애 아동들을 위한 '오스미디브(Osmidiv)' 축제가 반스카슈티아브니차 원형 극장에서 열렸습니다.
올해로 15회를 맞은 이 연례 축제는 밀란 슈테파니크 시민 협회가 주최하며, 장애를 가진 이들을 위한 행사로 많은 주목을 받고 있습니다.
문화 행사에서는 Iné KAFE, Peter C
On Sunday, August 25, 2024, the Osmidiv festival for mentally and physically disabled children from 24 institutions across central and western Slovakia took place in the Banská Štiavnica Amphitheater.
Organized by the Milan Štefánik Civic Association, this annual festival, now in its 15th year, focuses on individuals with mental and physical disabilities and attracts considerable attention.
The cultural program included performances by Iné KAFE, Peter Cmorík Band, Janko Kuric and Vidiek, Fideloví banditi, Zumba with Julka, and host Richard Vrablec.
Children participated in creative workshops, learning encaustic art, decorating plaster casts, crafting wire products, painting T-shirts, trying Zumba, minting coins, and engaging in historical archery and face painting.
Osmidiv supports those in need while reminding everyone to contribute to a better world filled with understanding, acceptance, and joy.
Gratitude was expressed to Mr. Štefánik, organizers, volunteers, artists, and visitors for their contributions. Supporters and donors were acknowledged for making the festival possible. Organizers expressed enthusiasm for future editions and are glad to support this meaningful project.
The 15th annual Osmidiv festival for mentally and physically disabled children was held in Banská Štiavnica on August 25, 2024, bringing together 24 institutions from central and western Slovakia. Organized by the Milan Štefánik Civic Association, the event featured performances by bands like Iné KAFE and Peter Cmorík Band, alongside activities like Zumba and creative workshops. Children learned new skills, including encaustic art, wire crafting, and face painting. The festival highlighted the importance of understanding, acceptance, and joy. Organizers thanked volunteers, artists, donors, and attendees for their contributions, emphasizing that the festival’s success depends on community support. They also look forward to future iterations of the project and are delighted to have supported a meaningful event.
We would like to invite you to the International Congress of Family Firms, taking place September 19-20, 2024, at Château Bela near Štúrovo. Expect over 250 guests, including owners and members of fam
诚邀您参加将于2024年9月19日至20日,在斯洛伐克 Štúrovo 附近的 Château Bela 城堡酒店举行的国际家族企业大会。届时,将有超过250位嘉宾莅临,包括众多家族企业的创始人和成员。大会特邀来自6个国家的10位演讲嘉宾分享洞见,并设有10场专题研讨会。此外,您还将欣赏到 Peter Lipa 父子带来的晚间音乐表演,体验特斯拉汽车试驾等丰富活动。
拥有30余年专业经验的 Mo
2024년 9월 19일부터 20일까지 슈투로보 인근 샤토 벨라에서 열리는 국제 가족 기업 콘퍼런스에 귀하를 초대합니다. 이번 행사에는 가족 기업의 오너와 구성원을 포함한 250여 명의 게스트, 6개국을 대표하는 10명의 연사, 10개의 워크숍, 피터 리파와 그의 아들이 선사하는 특별한 저녁 공연, 테슬라 시승 등 다채로운 프로그램이 준비되어 있습니다.
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We would like to invite you to the International Congress of Family Firms, taking place September 19-20, 2024, at Château Bela near Štúrovo. Expect over 250 guests, including owners and members of family businesses, 10 speakers from 6 countries, 10 workshops, an evening performance by Peter Lipa and his son, Tesla test drives, and more.
Moore BDR, with over 30 years of experience, will host a workshop focused on practical tax optimization strategies for family businesses, addressing topics like protecting strategic family assets, reducing the tax burden on business structures, tax-free company sales, tax-neutral transfer to the next generation, transitioning from sole proprietorship to a company, and optimizing partner income. The workshop aims to provide valuable advice and practical guidance on managing various aspects of tax optimization tailored for family businesses. Individual consultations will also be available to address specific needs and challenges. Don't miss this opportunity to gain practical advice to effectively manage and protect your family's assets and business.
诚邀您参加将于2024年9月19日至20日,在斯洛伐克 Štúrovo 附近的 Château Bela 城堡酒店举行的国际家族企业大会。届时,将有超过250位嘉宾莅临,包括众多家族企业的创始人和成员。大会特邀来自6个国家的10位演讲嘉宾分享洞见,并设有10场专题研讨会。此外,您还将欣赏到 Peter Lipa 父子带来的晚间音乐表演,体验特斯拉汽车试驾等丰富活动。
拥有30余年专业经验的 Moore BDR 公司将举办一场专题研讨会,聚焦家族企业的实用税务优化策略。议题包括:保护家族核心资产、降低企业架构的税务负担、公司免税出售方案、下一代税务平稳传承、从个人独资到公司化转型,以及合伙人收入的优化配置。本次研讨会旨在为家族企业提供税务优化方面的宝贵建议与实用指导。我们还将提供一对一咨询服务,以满足您的个性化需求,应对具体挑战。请把握此次良机,获取有效管理并保护您家族资产与业务的实战建议。
2024년 9월 19일부터 20일까지 슈투로보 인근 샤토 벨라에서 열리는 국제 가족 기업 콘퍼런스에 귀하를 초대합니다. 이번 행사에는 가족 기업의 오너와 구성원을 포함한 250여 명의 게스트, 6개국을 대표하는 10명의 연사, 10개의 워크숍, 피터 리파와 그의 아들이 선사하는 특별한 저녁 공연, 테슬라 시승 등 다채로운 프로그램이 준비되어 있습니다.
30년 이상의 경험을 자랑하는 Moore BDR이 가족 기업을 위한 실용적인 세금 최적화(절세) 전략 워크숍을 진행합니다. 본 워크숍에서는 ▲핵심 가족 자산 보호 ▲사업 구조의 세금 부담 완화 ▲비과세 기업 매각 ▲세금 부담 없는 2세 승계 ▲개인사업자의 법인 전환 ▲파트너 소득 최적화 등의 주제를 다룹니다. 워크숍의 목표는 가족 기업에 특화된 세무 관리의 다양한 측면에 대해 유용한 조언과 실질적인 지침을 제공하는 것입니다. 또한, 기업별 특수한 상황과 과제에 대한 개별 맞춤 상담도 가능합니다.
가족의 자산과 비즈니스를 효과적으로 관리하고 보호할 수 있는 실질적인 조언을 얻을 수 있는 이번 기회를 놓치지 마십시오.
Exemption from Income Tax on the Sale of Shares and Business Interest
株式・事業持分の譲渡に係る所得税の非課税
股份及业务权益出售所得税豁免
주식 및 출자지분 양도소득세 비과세
06.09.2024
The Slovak Financial Directorate has published information regarding the exemption of income from the sale of shares and business shares according to § 13c of the Income Tax Act. This provision can be
슬로바키아 재무국은 소득세법 제13c조에 따른 주식 및 사업 지분 매각 소득 비과세에 관한 정보를 발표했습니다. 이 규정은 특정 요건을 충족하는 경우, 슬로바키아 내 법인 또는 비거주자 납세자의 고정 사업장에 적용될 수 있습니다.
비과세 대상은 주식회사(간이 주식회사 포함)의 주주가 매각하는 주식, 유한책임회사 파트너나 합자회사 유한책임사원의 사업 지분(
The Slovak Financial Directorate has published information regarding the exemption of income from the sale of shares and business shares according to § 13c of the Income Tax Act. This provision can be applied, under certain conditions, to selected legal entities or permanent establishments of taxpayers with limited tax liability located in Slovakia.
The exemption applies to the sale of shares by shareholders of joint-stock companies (including similar rights for shareholders of simple joint-stock companies) and business shares of partners in limited liability companies or limited partners in limited partnerships (including similar foreign companies), and tax residents of legal entities and permanent establishments of foreign legal entities in Slovakia. Only income from the sale of shares or business shares owned by a tax resident or a permanent establishment in Slovakia is exempt. Membership rights in cooperatives and business shares in foreign companies when a taxpayer moves abroad are specifically excluded from the exemption.
To qualify for the exemption, several tests must be met concurrently: a time test (income from the sale must be realized at least 24 months after acquiring a minimum share), a minimum shareholding test (holding at least 10% of the share capital), and a functions and risks test (performing essential functions, managing risks, and having the necessary resources). The exemption does not apply to securities dealers, sellers in liquidation, the sale of treasury shares or sales during restructuring.
The day of acquisition of the direct share is crucial and varies depending on whether it involves cash or non-cash contributions, purchase, donation, inheritance, business combinations, company transformations, or relocation of the company's registered office to Slovakia. Costs related to the acquisition of shares or business shares are not considered tax-deductible expenses in the tax period of the sale, but this is adjusted in the tax return.
The information doesn’t fully address the practical implications for holding companies, particularly regarding the functions and risks test, where holding companies often only receive passive income and delegate operational activities and risks to subsidiaries. This can make it difficult for holding companies to qualify for the exemption. Common reasons for the tax administrator rejecting the exemption for holding companies include a lack of defined business risk, extensive material and personnel support, proof of tax residency, and consideration of specific functions and risks appropriate to a holding structure.
슬로바키아 재무국은 소득세법 제13c조에 따른 주식 및 사업 지분 매각 소득 비과세에 관한 정보를 발표했습니다. 이 규정은 특정 요건을 충족하는 경우, 슬로바키아 내 법인 또는 비거주자 납세자의 고정 사업장에 적용될 수 있습니다.
비과세 대상은 주식회사(간이 주식회사 포함)의 주주가 매각하는 주식, 유한책임회사 파트너나 합자회사 유한책임사원의 사업 지분(유사 해외 법인 포함) 등입니다. 적용 대상은 슬로바키아의 세법상 거주자인 법인 및 해외 법인의 국내 고정 사업장입니다. 즉, 슬로바키아 거주자나 고정 사업장이 보유한 주식 또는 사업 지분 매각 소득만 비과세됩니다. 단, 협동조합 출자 지분이나 납세자가 해외로 이전할 때의 해외 법인 사업 지분은 비과세 대상에서 명시적으로 제외됩니다.
비과세 혜택을 받으려면 세 가지 요건을 동시에 충족해야 합니다. 첫째, 최소 지분을 취득한 후 24개월 이상 보유해야 하는 '기간 요건', 둘째, 자본금의 10% 이상을 보유해야 하는 '최소 지분율 요건', 마지막으로 필수적인 기능을 수행하고 위험을 관리하며 필요한 자원을 갖추어야 하는 '기능 및 위험 요건'입니다. 증권사, 청산 절차 중인 매도자, 자사주 매각, 구조조정 과정에서의 매각 등은 비과세 대상이 아닙니다.
직접 지분의 취득 시점은 매우 중요하며, 현금·현물 출자, 매수, 증여, 상속, 사업 결합, 법인 형태 전환, 본점의 슬로바키아 이전 등 취득 방식에 따라 다르게 결정됩니다. 주식이나 사업 지분 취득 관련 비용은 매각이 이루어진 과세 기간에 세무상 비용으로 인정되지 않으나, 이는 세무 신고 시 조정됩니다.
다만, 이번 발표는 지주회사의 실무적 적용 문제를 완전히 해소하지는 못합니다. 특히 '기능 및 위험 요건' 충족이 어려울 수 있는데, 지주회사는 주로 배당금과 같은 수동적 소득만 얻고 실제 운영 활동과 위험은 자회사에 위임하는 경우가 많기 때문입니다. 과세 당국이 지주회사의 비과세 적용을 거부하는 일반적인 사유로는 명확한 사업 위험의 부재, 실질적인 물적·인적 기반 부족, 세법상 거주지 증명 미비, 지주회사 구조에 부합하는 특정 기능 및 위험에 대한 고려 부족 등이 있습니다.
In Slovakia, trade in goods between Slovakia and other EU member states, as well as third countries, is subject to Intrastat reporting. This entails submitting Intrastat declarations for both the rece
슬로바키아에서는 다른 EU 회원국 및 제3국과의 상품 거래 시 인트라스타트(Intrastat) 보고 의무가 있습니다. 이는 상품의 도착(수입)과 발송(수출) 모두에 대한 인트라스타트 신고서 제출을 의미합니다. 이렇게 수집된 통계 자료는 여러 기업 및 비영리 단체에서 시장 정보로 활용합니다.
수출입업체는 사업자 유형과 관계없이 EU 역내 거래에 대한 면제
In Slovakia, trade in goods between Slovakia and other EU member states, as well as third countries, is subject to Intrastat reporting. This entails submitting Intrastat declarations for both the receipt and dispatch of goods. These statistical data are utilized by various business and non-business associations for market information.
Importers and exporters must monitor exemption thresholds for intra-EU trade, regardless of their status. The current thresholds are €1,000,000 for both imports and exports, with specific limits for agriculture and food sectors (€200,000 for imports, €400,000 for exports). Crossing these limits requires registration with the Statistical Office of the Slovak Republic.
Intrastat reporting covers the physical movement of goods between Slovakia and EU member states or third countries, distinguishing between intra-EU imports and exports. It also includes Union goods and goods under customs processing. Exemptions from Intrastat reporting include monetary gold, legal tender, customized data carriers, free advertising materials, goods for repairs, transportation vehicles, goods for temporary use, goods in transit, and goods moving between member states and the country of entry into the EU customs area.
The obligation arises when the value of goods imported and exported within the EU exceeds the limit from October 1, 2022, to September 30. The deadline for submitting Intrastat declarations is the 15th day of the calendar month following the month the limit was exceeded. The obligation ceases if the limit is not exceeded between October 1 and September 30, resulting in automatic termination or requiring notification to the Statistical Office.
슬로바키아에서는 다른 EU 회원국 및 제3국과의 상품 거래 시 인트라스타트(Intrastat) 보고 의무가 있습니다. 이는 상품의 도착(수입)과 발송(수출) 모두에 대한 인트라스타트 신고서 제출을 의미합니다. 이렇게 수집된 통계 자료는 여러 기업 및 비영리 단체에서 시장 정보로 활용합니다.
수출입업체는 사업자 유형과 관계없이 EU 역내 거래에 대한 면제 기준액을 항상 확인해야 합니다. 현재 기준액은 수입과 수출 모두 100만 유로이며, 농업 및 식품 분야는 수입 20만 유로, 수출 40만 유로의 별도 기준이 적용됩니다. 이 기준액을 초과할 경우, 슬로바키아 통계청에 등록해야 합니다.
인트라스타트 보고 대상은 슬로바키아와 EU 회원국 또는 제3국 간의 모든 물리적인 상품 이동입니다. 여기에는 EU 역내 수입 및 수출, 연합 상품, 관세 절차 중인 상품이 포함됩니다. 보고 면제 대상은 다음과 같습니다: 화폐용 금, 법정 통화, 맞춤 제작된 데이터 저장 매체, 무료 광고물, 수리용 물품, 운송 수단, 임시 사용 물품, 통과 물품, EU 관세 지역으로 진입하는 국가와 회원국 간 이동 물품 등.
보고 의무는 매년 10월 1일부터 다음 해 9월 30일까지의 기간 동안 EU 내 수출입액이 기준치를 초과할 때 발생합니다. 인트라스타트 신고 마감일은 기준액을 초과한 달의 다음 달 15일입니다. 만약 해당 기간 동안 기준액을 넘지 않으면 보고 의무는 자동으로 소멸되거나, 통계청에 통지하여 종료할 수 있습니다.
The amendment to Act No. 530/2023 Z. z. introduces a new obligation for legal entities in Slovakia for the 2024 tax period: a minimum corporate tax. This tax applies to both profitable and loss-making
슬로바키아에서는 2024년부터 법률 제530/2023 Z. z. 개정에 따라 모든 법인을 대상으로 새로운 '최소 법인세' 제도가 도입됩니다. 이 제도는 기업의 이익 발생 여부와 관계없이 적용되며, 손실을 본 기업도 최소한의 세금을 납부해야 하는 것이 특징입니다.
산출된 법인세가 정해진 최소 세액보다 적을 경우, 세액 공제 등을 적용한 후에도 최소 세액을
The amendment to Act No. 530/2023 Z. z. introduces a new obligation for legal entities in Slovakia for the 2024 tax period: a minimum corporate tax. This tax applies to both profitable and loss-making companies.
The minimum tax is the tax paid after deducting reliefs and foreign tax credits, applicable when the tax liability calculated in the tax return is lower than the minimum tax amount. The minimum tax amount varies based on taxable income: €340 for income up to €50,000, €960 for income between €50,000 and €250,000, €1,920 for income between €250,000 and €500,000, and €3,840 for income over €500,000. Even companies reporting a loss must pay a minimum tax of €340. The tax is halved if at least 20% of the employees are disabled individuals.
The minimum tax is due by the tax return deadline, March 31, 2025 (or extended deadlines). It can be offset against future tax liabilities for a maximum of three years, provided the tax liability exceeds the minimum tax. However, the offset is forfeited upon company liquidation or bankruptcy.
Exemptions from the minimum tax include newly established entities, non-profit organizations, sheltered workshops, land associations with limited income, and companies undergoing liquidation.
Foreign legal entities operating in Slovakia through branches or permanent establishments are also subject to the minimum tax, considering whether they are from treaty or non-treaty countries. Entities from non-treaty countries must pay the minimum tax even if they have no taxable income.
슬로바키아에서는 2024년부터 법률 제530/2023 Z. z. 개정에 따라 모든 법인을 대상으로 새로운 '최소 법인세' 제도가 도입됩니다. 이 제도는 기업의 이익 발생 여부와 관계없이 적용되며, 손실을 본 기업도 최소한의 세금을 납부해야 하는 것이 특징입니다.
산출된 법인세가 정해진 최소 세액보다 적을 경우, 세액 공제 등을 적용한 후에도 최소 세액을 납부해야 합니다. 최소 세액은 과세 소득에 따라 다음과 같이 차등 적용됩니다.
* 과세 소득 5만 유로 이하: 340유로 * 과세 소득 5만 유로 초과 ~ 25만 유로 이하: 960유로 * 과세 소득 25만 유로 초과 ~ 50만 유로 이하: 1,920유로 * 과세 소득 50만 유로 초과: 3,840유로
과세 소득이 없거나 손실을 기록한 기업도 최소 340유로를 납부해야 합니다. 단, 전체 직원 중 20% 이상이 장애인인 경우, 최소 세액은 절반으로 감면됩니다.
납부 기한은 법인세 신고 기한인 2025년 3월 31일(또는 연장된 기한)까지입니다. 납부한 최소 세액은 향후 3년간 납부할 법인세가 최소 세액을 초과할 경우, 그 차액만큼 이월하여 공제받을 수 있습니다. 단, 회사가 청산되거나 파산할 경우 이월 공제 혜택은 소멸됩니다.
신설 법인, 비영리 단체, 보호 작업장, 일정 소득 이하의 토지 조합, 청산 절차가 진행 중인 기업 등은 최소 법인세 납부 의무가 면제됩니다.
슬로바키아 내에 지점이나 고정 사업장을 둔 외국 법인도 최소 법인세 적용 대상이며, 해당 법인이 조세 조약 체결국 또는 미체결국 소재인지에 따라 적용 방식이 달라집니다. 특히 조세 조약 미체결국에 소재한 법인은 슬로바키아에서 과세 소득이 발생하지 않더라도 최소 세액을 납부해야 합니다.
Summer news from the Social Insurance Agency and the Ministry of Labour
厚生労働省・日本年金機構から夏のお知らせ
劳动部与社会保险局夏季资讯
고용노동부와 사회보험청에서 전하는 여름철 소식
21.08.2024
Several changes impacting the Social Insurance Agency's communication, access to contribution information, and legislative updates tied to Slovakian economic indicators have been implemented.
슬로바키아 경제 지표와 연동된 사회보험공단의 소통 방식, 보험료 정보 접근성, 관련 법규에 몇 가지 변경 사항이 시행되었습니다.
이제 직장인들은 개인 전자 계정을 통해 온라인 소통, 보험 가입 내역 조회, 서류 출력 등의 서비스를 이용할 수 있습니다. 지점이나 직장에서 계정 사용을 신청할 수 있어 소통이 간소화되고 시간이 절약됩니다. 주요 혜택으로는 정보
Several changes impacting the Social Insurance Agency's communication, access to contribution information, and legislative updates tied to Slovakian economic indicators have been implemented.
Employees can now access electronic accounts providing online interaction, insurance overviews, and printable records. Access can be arranged at branches or workplaces, streamlining communication and saving time. Benefits include immediate information access, online insurance overview, feedback options, insurance period tracking, benefit entitlement information, and data verification. The electronic accounts offer comprehensive details regarding insurance payments and benefit entitlements.
The minimum living allowance increased to €273.99 monthly from July 1, 2024, impacting execution deductions from pensions and early retirement claim assessments. This will also affect the guaranteed minimum pension from January 1, 2025.
Meal allowance rates increased from September 1, 2024, for employees on business trips, tied to restaurant price index changes, with corresponding adjustments to employer contributions. Kilometric allowances for vehicles remain unchanged since May 1, 2024.
Self-employed individuals' (SZČO) social insurance obligations changed from July 1, 2024. The Social Insurance Agency will automatically notify SZČOs about new or terminated insurance obligations and premium amounts. Those who filed their tax return by March 31, 2023, must pay their July 2024 insurance by August 8, 2024. The minimum insurance contribution is €216.13. Mandatory insurance applies to SZČOs with 2023 income exceeding €7,824 if they haven't extended their tax return deadline.
슬로바키아 경제 지표와 연동된 사회보험공단의 소통 방식, 보험료 정보 접근성, 관련 법규에 몇 가지 변경 사항이 시행되었습니다.
이제 직장인들은 개인 전자 계정을 통해 온라인 소통, 보험 가입 내역 조회, 서류 출력 등의 서비스를 이용할 수 있습니다. 지점이나 직장에서 계정 사용을 신청할 수 있어 소통이 간소화되고 시간이 절약됩니다. 주요 혜택으로는 정보 즉시 확인, 온라인 보험 가입 내역 조회, 의견 제출, 보험 가입 기간 추적, 수급 자격 정보 확인, 데이터 검증 등이 있습니다. 이 전자 계정은 보험료 납부 및 수급 자격에 대한 종합적인 정보를 제공합니다.
2024년 7월 1일부터 월 최저생계비가 273.99유로로 인상되었습니다. 이는 연금 압류 공제액과 조기 퇴직 신청 심사에 영향을 미치며, 2025년 1월 1일부터는 최저 보장 연금액에도 영향을 줄 예정입니다.
2024년 9월 1일부터는 식당 물가 지수 변동에 따라 출장 직원의 식대 수당이 인상되며, 이에 맞춰 사업주 부담금도 조정됩니다. 차량 유류비 지원금은 2024년 5월 1일부로 변동 없이 유지됩니다.
자영업자(SZČO)의 사회보험 의무는 2024년 7월 1일부터 변경되었습니다. 사회보험공단은 자영업자에게 신규 또는 종료되는 보험 의무와 보험료를 자동으로 통지할 것입니다. 2023년 소득세 신고 기한을 연장하지 않고 2023년 소득이 7,824유로를 초과한 자영업자는 의무 가입 대상이 됩니다. 2023년 3월 31일까지 소득세 신고를 마친 경우, 2024년 7월분 보험료를 8월 8일까지 납부해야 하며, 최저 보험료는 216.13유로입니다.
News in the area of employing foreigners and school graduates
外国人雇用・新卒採用に関するニュース
外籍人士与高校毕业生就业资讯
외국인·청년 고용 소식
05.08.2024
The Slovak government has approved changes to immigration rules, effective July 15, 2024, impacting employers and foreigners working or planning to work in Slovakia. For temporary residence permits fo
슬로바키아 정부가 이민 규정 변경안을 승인하여 2024년 7월 15일부터 새로운 규정이 시행됩니다. 이번 변경안은 슬로바키아에서 일하고 있거나 일할 계획이 있는 외국인과 고용주 모두에게 영향을 미칩니다.
취업 목적의 임시 거주 허가를 받으려면, 고용주는 먼저 일자리를 신고하고 20일이 지난 후에 해당 일자리가 비어있음을 확인하는 절차를 거쳐야 합니다. 노
The Slovak government has approved changes to immigration rules, effective July 15, 2024, impacting employers and foreigners working or planning to work in Slovakia. For temporary residence permits for employment, employers must request confirmation of a vacant position 20 days after reporting it. The labor office will decide on granting permission within 15 working days. Applicants have 90 days to apply for residency and can start working immediately upon submitting a complete application. The residency decision time is reduced from 90 to 60 days, and electronic document submission is now allowed.
Changing the purpose of residence from employment to entrepreneurship is only possible after 12 months. Students must complete their studies before applying for a change of purpose, otherwise it will not be allowed. National visa applications can be submitted at relevant institutions or external service providers. Visas for residency applications will include information about the type of residence and the employer. National visas for business purposes are no longer obtainable.
The requirements for the EU Blue Card are eased, lowering the required salary to 1.2 times the average salary or the average salary for recent graduates. The minimum contract length is reduced to six months. ICT managers can substitute education with skills certificates, and regulated professions require qualification recognition. Blue Card holders can now engage in business or be unemployed for six months after holding the card for over two years.
Further changes include requirements for renewing temporary business residence permits, defining reasons for denying entry or stay, increased police powers to detain foreigners, and the implementation of ETIAS in mid-2025. Knowledge of Slovak at the A2 level will be required for long-term residency from July 15, 2025. Rules regarding the inclusion of time spent outside the EU in the 5 year residency requirement have changed. Applicants can stay in Slovakia while awaiting decisions on permanent residency.
A Labor Code amendment, effective August 1, 2024, facilitates the employment of elementary school graduates over 15 during summer vacation between ninth grade and high school, without bureaucratic obstacles.
슬로바키아 정부가 이민 규정 변경안을 승인하여 2024년 7월 15일부터 새로운 규정이 시행됩니다. 이번 변경안은 슬로바키아에서 일하고 있거나 일할 계획이 있는 외국인과 고용주 모두에게 영향을 미칩니다.
취업 목적의 임시 거주 허가를 받으려면, 고용주는 먼저 일자리를 신고하고 20일이 지난 후에 해당 일자리가 비어있음을 확인하는 절차를 거쳐야 합니다. 노동청은 근무일 기준 15일 이내에 허가 여부를 결정합니다. 신청자는 90일 이내에 거주 허가를 신청해야 하며, 서류를 완벽하게 제출하면 즉시 일을 시작할 수 있습니다. 거주 허가 결정 기간은 기존 90일에서 60일로 단축되었고, 이제 전자 문서 제출도 가능합니다.
취업 비자로 체류하다 사업 비자로 목적을 변경하려면, 최소 12개월이 지나야 가능합니다. 학생의 경우, 학업을 모두 마친 후에만 체류 목적 변경을 신청할 수 있으며, 그렇지 않으면 허용되지 않습니다. 국가 비자는 관련 기관이나 외부 서비스 제공업체를 통해 신청할 수 있습니다. 거주 허가 신청을 위한 비자에는 체류 유형과 고용주 정보가 포함되며, 사업 목적의 국가 비자는 더 이상 발급되지 않습니다.
EU 블루카드 발급 요건이 완화되었습니다. 필요 소득 기준이 평균 급여의 1.2배 또는 신규 졸업자의 경우 평균 급여 수준으로 낮아졌습니다. 최소 계약 기간은 6개월로 단축되었습니다. ICT 관리자는 학력 대신 기술 자격증으로 대체할 수 있으며, 규제 직종의 경우 자격 인정을 받아야 합니다. 블루카드를 2년 이상 소지한 경우, 이후 사업에 종사하거나 6개월간 실업 상태를 유지할 수 있습니다.
이 외에도 임시 사업 거주 허가 갱신 요건, 입국 또는 체류 거부 사유 명확화, 외국인 구금에 대한 경찰 권한 강화, 2025년 중반 유럽 여행 정보 및 허가 시스템(ETIAS) 도입 등의 변경 사항이 있습니다. 2025년 7월 15일부터는 장기 체류 허가를 받으려면 A2 수준의 슬로바키아어 능력이 요구됩니다. 5년 거주 요건에 포함되는 EU 역외 체류 기간에 대한 규정도 변경되었습니다. 영주권 심사를 기다리는 동안 슬로바키아에 계속 머무를 수 있습니다.
2024년 8월 1일부터 시행되는 노동법 개정안에 따라, 9학년을 마치고 고등학교 입학 전 여름방학 기간 동안 15세 이상의 초등학교 졸업생을 복잡한 절차 없이 고용할 수 있게 됩니다.
Change of Payment Deferral and Interest Calculation
支払猶予および利息計算の変更
延期付款与利息计算的变更
납부 유예 변경 및 이자 산정
05.08.2024
The Slovak Financial Administration has updated its guidelines regarding the process of granting deferrals for tax payments or payment in installments, including the calculation of interest on the def
슬로바키아 금융 당국이 세금 납부 유예 및 분할 납부 절차에 대한 지침을 개정했습니다. 이 지침에는 유예된 세금에 대한 이자 계산 방식도 포함됩니다. 벌금이나 체납된 세금을 포함한 모든 종류의 세금에 적용되지만, 세금 선납은 해당되지 않습니다.
세금 납부 유예나 분할 납부를 신청하려면(신용도가 매우 높은 납세자는 제외), 세금 납부 시 가족 부양에 어려움
The Slovak Financial Administration has updated its guidelines regarding the process of granting deferrals for tax payments or payment in installments, including the calculation of interest on the deferred amount. These guidelines apply to all types of tax payments, including penalties and tax arrears, but not to tax prepayments.
To be eligible for a tax deferral or installment plan (excluding highly reliable taxpayers), the taxpayer must demonstrate that paying the tax would endanger their ability to meet their family support obligations, their income has decreased making payment difficult, payment would lead to insolvency, or there are other serious reasons preventing payment. The tax administrator can grant deferrals or installment plans for up to two years, meaning a rejected applicant must wait two years before reapplying.
The process requires submitting a complete application electronically, proposing an installment plan based on the taxpayer's financial situation, and paying an administrative fee (either €7 or €14 depending on the form of submission). The tax administrator may also require collateral for the debt. Deferrals are granted for a maximum of 24 months from the original due date.
Interest is calculated on the deferred amount at a rate based on the National Bank of Slovakia's reference rate (currently 4.11%) plus 1%, but if the reference rate is 3% or lower, a fixed rate of 3% applies. The interest is calculated daily for the actual deferral period and is payable within 15 days of the decision becoming final. No interest is charged if it's below €5.
슬로바키아 금융 당국이 세금 납부 유예 및 분할 납부 절차에 대한 지침을 개정했습니다. 이 지침에는 유예된 세금에 대한 이자 계산 방식도 포함됩니다. 벌금이나 체납된 세금을 포함한 모든 종류의 세금에 적용되지만, 세금 선납은 해당되지 않습니다.
세금 납부 유예나 분할 납부를 신청하려면(신용도가 매우 높은 납세자는 제외), 세금 납부 시 가족 부양에 어려움이 생기거나, 소득이 감소하여 납부가 곤란하거나, 납부 시 파산에 이를 수 있거나, 그 외 납부가 불가능한 중대한 사유가 있음을 입증해야 합니다. 세무 당국은 최대 2년까지 납부를 유예하거나 분할 납부를 승인할 수 있으며, 신청이 거절되면 2년 후에 재신청이 가능합니다.
신청 절차는 완비된 신청서를 온라인으로 제출하고, 자신의 재정 상황에 맞는 분할 납부 계획을 제안해야 합니다. 또한 신청 방식에 따라 7유로 또는 14유로의 행정 수수료를 납부해야 하며, 세무 당국은 채무에 대한 담보를 요구할 수 있습니다. 납부 유예는 원래 납부 기한으로부터 최대 24개월까지 가능합니다.
유예된 세금에 대한 이자는 슬로바키아 중앙은행 기준금리(현재 4.11%)에 1%를 더한 이율로 계산됩니다. 단, 기준금리가 3% 이하일 경우에는 3%의 고정 이율이 적용됩니다. 이자는 실제 유예 기간에 대해 일할 계산되며, 유예 결정이 확정된 날로부터 15일 이내에 납부해야 합니다. 계산된 이자가 5유로 미만일 경우에는 부과되지 않습니다.
The EU Council agreed on the FASTER initiative, a directive aiming to enhance the security and efficiency of withholding tax procedures in the EU for cross-border investors, national tax authorities,
EU 이사회가 'FASTER' 이니셔티브에 합의했습니다. 이는 국경 간 투자자, 각국 세무 당국, 금융 중개기관을 위해 EU의 원천징수세 절차를 더 안전하고 효율적으로 만들기 위한 지침입니다. 이를 통해 이중과세 문제를 해결하고 조세 회피를 방지하는 것을 목표로 합니다.
현재 EU 회원국은 외국인 투자자의 배당 및 이자 소득에 세금을 부과하고, 투자자의
The EU Council agreed on the FASTER initiative, a directive aiming to enhance the security and efficiency of withholding tax procedures in the EU for cross-border investors, national tax authorities, and financial intermediaries. This addresses double taxation relief and combats tax abuse.
Currently, EU member states tax dividends and bond interest paid to foreign investors, while their countries of residence also tax these incomes. Differing procedures for withholding tax relief across member states result in complex administrative burdens.
The directive introduces a common EU digital tax residence certificate, enabling investors to use accelerated withholding tax relief procedures. Member states will automate the issuance of these certificates within 14 days of application.
The directive allows member states to use either a relief-at-source system, applying the appropriate tax rate at payment, or a quick refund system, guaranteeing tax overpayment refunds within a set timeframe. These accelerated procedures are mandatory for publicly traded share dividends. However, member states can maintain existing procedures if they provide a comprehensive relief-at-source system for publicly traded share dividends and their market capitalization share is below 1.5%.
Standardized reporting obligations are established for financial intermediaries, facilitating the detection of potential tax fraud. A national register of certified financial intermediaries will be created and linked to a European portal. Intermediaries must report transaction information to tax authorities, subject to national penalties for non-compliance.
The directive's transposition deadline is December 31, 2028, with national rules applying from January 1, 2030. It primarily concerns dividends from publicly traded securities and bond interest, excluding non-tradable securities and dividends from equity holdings.
EU 이사회가 'FASTER' 이니셔티브에 합의했습니다. 이는 국경 간 투자자, 각국 세무 당국, 금융 중개기관을 위해 EU의 원천징수세 절차를 더 안전하고 효율적으로 만들기 위한 지침입니다. 이를 통해 이중과세 문제를 해결하고 조세 회피를 방지하는 것을 목표로 합니다.
현재 EU 회원국은 외국인 투자자의 배당 및 이자 소득에 세금을 부과하고, 투자자의 거주국가에서도 세금을 부과하는 이중과세 문제가 있습니다. 하지만 회원국마다 원천징수세 환급 절차가 달라 행정적으로 복잡하고 불편했습니다.
새 지침은 EU 공통의 '디지털 거주자 증명서'를 도입하여 투자자가 더 빠른 원천징수세 환급 절차를 이용할 수 있도록 합니다. 회원국은 신청 후 14일 이내에 이 증명서를 자동으로 발급해야 합니다.
이에 따라 회원국은 소득 지급 시점부터 정확한 세율을 적용하는 '원천 감면' 방식이나, 초과 납부된 세금을 정해진 기간 내에 신속히 환급하는 '신속 환급' 방식 중 하나를 선택해 운영할 수 있습니다. 이러한 신속 절차는 특히 상장 주식의 배당금에 대해 의무적으로 적용됩니다. 다만, 상장 주식 배당금에 대해 포괄적인 원천 감면 시스템을 이미 갖추고 있고, 해당 국가의 시장 자본총액 비중이 1.5% 미만인 회원국은 기존 절차를 유지할 수 있습니다.
또한, 잠재적인 탈세를 막기 위해 금융 중개기관에 대한 보고 의무가 표준화됩니다. 각국은 인증된 금융 중개기관의 명단을 만들어 유럽 연합 포털에 연동하게 됩니다. 중개기관은 거래 정보를 세무 당국에 의무적으로 보고해야 하며, 이를 준수하지 않을 경우 각국의 규정에 따라 처벌받을 수 있습니다.
이 지침은 2028년 12월 31일까지 각 회원국의 국내법에 반영되어야 하며, 실제 시행은 2030년 1월 1일부터입니다. 이 제도는 주로 상장 증권의 배당금과 채권 이자에 적용되며, 비상장 증권이나 단순 지분 투자에 따른 배당금 등은 제외됩니다.
In late May 2024, the EU Council adopted a package of new Anti-Money Laundering (AML) rules stemming from Directive (EU) 2015/849. This shifts private sector rules to a new regulation, while a directi
2024년 5월 말, 유럽연합(EU) 이사회는 기존 지침(EU) 2015/849에 근거한 새로운 자금세탁방지(AML) 규정을 채택했습니다. 이에 따라 민간 부문에 적용되던 규칙은 새로운 단일 규정으로 통합되며, 각 회원국의 자금세탁방지 기관 조직에 관한 내용은 별도의 지침으로 다루어집니다. 통일된 지침 2024/1640은 EU 금융 시스템을 보호하고 안보
In late May 2024, the EU Council adopted a package of new Anti-Money Laundering (AML) rules stemming from Directive (EU) 2015/849. This shifts private sector rules to a new regulation, while a directive addresses the organization of national AML authorities. The harmonized Directive 2024/1640 protects the EU financial system and promotes security and economic growth. Directive 2024/1620 establishes a supervisory authority for AML activities.
The new regulation aims to harmonize AML rules across the EU, preventing exploitation of differing national standards. It adapts to technological innovations like virtual currencies, global terrorism, and criminal ingenuity. The rules will apply three years after their July 10, 2024, effective date, allowing member states time for transposition.
The regulation sets requirements for credit and financial institutions, and designated non-financial businesses like cryptocurrency providers, luxury goods dealers, and potentially professional football clubs and agents. Cryptocurrency providers must conduct customer verification and report suspicious transactions. Dealers in precious metals, gems, luxury cars, and artwork also face verification and reporting obligations.
The regulation clarifies beneficial ownership, focusing on those who truly control or benefit from a legal entity, setting a 25% ownership threshold. It addresses multi-layered ownership structures and data protection. Cash payments will be capped at €10,000 EU-wide, with member states able to set lower limits. Enhanced due diligence is required for transactions involving high-risk third countries.
A new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will directly and indirectly supervise high-risk financial sector entities. AMLA will oversee risky institutions, support the non-financial sector, coordinate financial intelligence units, and impose penalties. It will impose fines for breaches of AML rules, with penalties based on the benefit gained from the breach or a percentage of annual turnover. AMLA will be located in Frankfurt, Germany, with institutional operations beginning in mid-2025. A Slovakian law is being amended to transpose the Directive, expected to take effect in December 2024.
2024년 5월 말, 유럽연합(EU) 이사회는 기존 지침(EU) 2015/849에 근거한 새로운 자금세탁방지(AML) 규정을 채택했습니다. 이에 따라 민간 부문에 적용되던 규칙은 새로운 단일 규정으로 통합되며, 각 회원국의 자금세탁방지 기관 조직에 관한 내용은 별도의 지침으로 다루어집니다. 통일된 지침 2024/1640은 EU 금융 시스템을 보호하고 안보 및 경제 성장을 촉진하는 것을 목표로 하며, 지침 2024/1620은 자금세탁방지 활동을 감독할 기관 설립의 근거가 됩니다.
새로운 규정은 EU 전역의 자금세탁방지 규칙을 통일하여, 국가별 기준 차이를 악용하는 것을 막기 위해 마련되었습니다. 이는 가상자산과 같은 기술 혁신, 국제 테러, 그리고 지능화되는 범죄 수법에 대응하기 위한 것입니다. 이 규정들은 2024년 7월 10일 발효 후 3년 뒤부터 적용될 예정이며, 이 기간 동안 각 회원국은 관련 국내법을 정비하게 됩니다.
이 규정은 신용 및 금융 기관뿐만 아니라, 암호화폐 공급업체, 명품 딜러, 그리고 잠재적으로 프로 축구 구단 및 에이전트와 같은 특정 비금융 사업자에게도 적용됩니다. 암호화폐 공급업체는 고객 신원 확인을 수행하고 의심스러운 거래를 보고해야 합니다. 귀금속, 보석, 고급 자동차, 예술품 딜러 역시 고객 확인 및 보고 의무를 지게 됩니다.
또한, 법인의 실질적인 지배자 또는 수익자를 명확히 하기 위해 '실소유주' 개념을 구체화하고, 25%의 소유권 기준을 설정했습니다. 다층적인 소유 구조와 데이터 보호 문제도 다룹니다. 현금 결제 한도는 EU 전역에서 10,000유로로 제한되며, 회원국은 더 낮은 한도를 설정할 수 있습니다. 고위험 제3국과 관련된 거래에 대해서는 강화된 고객 확인 절차가 요구됩니다.
새롭게 설립될 '자금세탁 및 테러자금조달 방지 기관(AMLA)'은 고위험 금융 기관을 직간접적으로 감독하게 됩니다. AMLA는 위험도가 높은 기관을 감독하고, 비금융 부문을 지원하며, 금융정보분석기구들을 조정하고, 위반 시 제재를 부과하는 역할을 맡습니다. 자금세탁방지 규칙 위반 시 벌금을 부과할 수 있으며, 벌금액은 위반으로 얻은 이익 또는 연간 매출액의 일정 비율을 기준으로 산정됩니다. AMLA는 독일 프랑크푸르트에 설립될 예정이며, 2025년 중반부터 기관 운영을 시작합니다. 슬로바키아에서는 이 지침을 국내법에 반영하기 위한 법률 개정안이 2024년 12월에 발효될 것으로 예상됩니다.
Amendment to the Accounting Act in Connection with the Sustainability Report
サステナビリティ報告書に関する会計法の改正
《会计法》可持续性报告相关修正案
지속가능성 보고서 관련 회계법 개정
09.06.2024
In late April 2024, the Slovak Parliament approved an amendment to the Accounting Act, implementing the EU's CSRD Directive on corporate sustainability reporting. Effective June 1, 2024, the amendment
2024년 4월 말, 슬로바키아 의회는 EU의 '기업 지속가능성 보고 지침(CSRD)'을 반영한 회계법 개정안을 승인했습니다. 2024년 6월 1일부터 발효되는 이 개정안은 유럽 지속가능성 보고 표준(ESRS)에 따라, 기업의 지속가능성 정보에 대한 일관성 있는 보고와 외부 감사를 의무화합니다.
이제 해외에 모회사를 둔 자회사도 사업 전략이 지속가능성에
In late April 2024, the Slovak Parliament approved an amendment to the Accounting Act, implementing the EU's CSRD Directive on corporate sustainability reporting. Effective June 1, 2024, the amendment aligns with the European Sustainability Reporting Standards (ESRS), ensuring consistent reporting and external auditing of sustainability information.
Subsidiaries with foreign parent companies must now prepare reports on the sustainability impacts of their business strategies. These reports, part of the annual report, must include auditor verification and disclose both short-term and long-term plans to mitigate global warming and achieve climate neutrality by 2050. Key information is categorized into environmental (climate mitigation, adaptation, resources), social and human rights (equal opportunities, working conditions), and administrative factors (governance, ethics).
The first reporting period begins after January 1, 2024, for banks, insurers, and securities issuers, and after January 1, 2025, for other entities meeting at least two of these criteria: total assets exceeding €25 million, net turnover exceeding €50 million, or an average of over 250 employees. Simplified rules will apply to other companies in the future. Exemptions apply to subsidiaries included in consolidated sustainability reports compliant with CSRD and ESRS, even if the parent company is outside the EU. Recent EU directives adjusting company size criteria may narrow the scope of CSRD reporting. The assessment of companies into specific size groups will first be applied for the accounting period ending December 31, 2023.
2024년 4월 말, 슬로바키아 의회는 EU의 '기업 지속가능성 보고 지침(CSRD)'을 반영한 회계법 개정안을 승인했습니다. 2024년 6월 1일부터 발효되는 이 개정안은 유럽 지속가능성 보고 표준(ESRS)에 따라, 기업의 지속가능성 정보에 대한 일관성 있는 보고와 외부 감사를 의무화합니다.
이제 해외에 모회사를 둔 자회사도 사업 전략이 지속가능성에 미치는 영향에 대한 보고서를 작성해야 합니다. 이 보고서는 연차 보고서의 일부로 제출되며, 감사인의 검증을 받아야 합니다. 또한 지구 온난화를 완화하고 2050년까지 기후 중립을 달성하기 위한 단기 및 장기 계획을 공개해야 합니다. 주요 정보는 환경(기후 변화 완화 및 적응, 자원), 사회·인권(기회균등, 근로 조건), 지배구조(거버넌스, 윤리 경영)의 세 가지 범주로 분류됩니다.
첫 보고 의무는 은행, 보험사, 증권 발행사의 경우 2024년 1월 1일 이후 시작되는 회계연도부터 적용됩니다. 그 외 기업 중 ▲총자산 2,500만 유로 초과 ▲순매출 5,000만 유로 초과 ▲평균 직원 250명 초과 중 두 가지 이상을 충족하는 경우에는 2025년 1월 1일 이후 시작되는 회계연도부터 적용됩니다. 그 외 다른 기업들에는 향후 간소화된 기준이 적용될 예정입니다.
모회사가 EU 역외 기업이더라도, CSRD 및 ESRS 기준을 준수하는 연결 지속가능성 보고서에 포함된 자회사는 보고 의무가 면제됩니다. 한편, 최근 기업 규모 기준을 조정한 EU의 새로운 지침에 따라 향후 CSRD 보고 대상 기업의 범위가 축소될 수 있습니다. 새로운 기업 규모 분류 기준은 2023년 12월 31일로 종료되는 회계연도부터 처음 적용됩니다.
VAT NOVEL - Self-assessment for the import of goods within the country
VAT NOVEL - 輸入物品に係る国内自己申告
增值税新政:进口货物境内自行申报
VAT 신규 제도 - 수입품 국내 자진신고
09.06.2024
The Slovak government has approved an amendment to the VAT Act, effective from 2025, transposing EU legislation on special arrangements for small businesses and administrative cooperation/information
슬로바키아 정부가 2025년부터 시행될 부가가치세법 개정안을 승인했습니다. 이번 개정안은 소규모 사업자를 위한 특별 제도와 행정 협력에 관한 EU 규정을 반영한 것으로, 특히 공인경제운영자(AEO)의 수입 부가세 자진신고납부 제도에 대한 변경 사항을 담고 있습니다.
개정안에 따르면, 아래 조건을 모두 충족하는 부가세 납세자는 수입 부가세를 직접 신고하고
The Slovak government has approved an amendment to the VAT Act, effective from 2025, transposing EU legislation on special arrangements for small businesses and administrative cooperation/information exchange. It also introduces changes regarding self-assessment for VAT on imports by Authorised Economic Operators (AEOs).
Under the amendment, VAT payers can self-assess import VAT if they are established in Slovakia or another EU member state, have a VAT ID, hold AEO status, and use the imported goods exclusively for domestic economic activities. If a foreign VAT payer uses indirect representation for imports via centralized customs clearance, the declarant must also have AEO status.
Eligible VAT payers must self-calculate import VAT and file a VAT return in the tax period when the tax liability arises, with the relevant tax office as the administrator. They can deduct the VAT according to general VAT deduction rules, resulting in a neutral financial impact. Failure to meet the conditions results in a penalty of 1.3% of the VAT amount that would have been levied by customs.
If the conditions for self-assessment are not met, standard customs procedures apply. The VAT payer must submit an import declaration electronically to the customs office, which will notify the VAT amount due. Payment is due within 10 days. Failure to submit the declaration triggers a 10-day warning; non-compliance leads to fines ranging from €1,000 to €10,000, depending on the delay. Foreign entities without activated electronic mailboxes must appoint a delivery representative with one.
These changes apply to imports where the tax liability arises from January 1, 2025. An AEO is certified for secure international trade based on internal controls, financial stability, and compliant customs procedures.
슬로바키아 정부가 2025년부터 시행될 부가가치세법 개정안을 승인했습니다. 이번 개정안은 소규모 사업자를 위한 특별 제도와 행정 협력에 관한 EU 규정을 반영한 것으로, 특히 공인경제운영자(AEO)의 수입 부가세 자진신고납부 제도에 대한 변경 사항을 담고 있습니다.
개정안에 따르면, 아래 조건을 모두 충족하는 부가세 납세자는 수입 부가세를 직접 신고하고 납부할 수 있습니다. * 슬로바키아 또는 다른 EU 회원국에 사업장 소재 * 부가세 고유번호 보유 * AEO 자격 보유 * 수입 물품을 국내 경제 활동에만 사용 만약 해외 사업자가 중앙 집중식 통관을 위해 간접 대리인을 이용할 경우, 해당 신고인 역시 AEO 자격을 갖추어야 합니다.
자진신고납부 대상자는 납세 의무가 발생한 과세 기간에 관할 세무서에 수입 부가세를 직접 계산하여 신고해야 합니다. 이때 일반 규정에 따라 부가세를 공제받을 수 있어 실질적인 자금 부담은 없습니다. 만약 자격 요건을 충족하지 못할 경우, 기존 세관이 부과했을 부가세액의 1.3%에 해당하는 벌금이 부과됩니다.
자진신고납부 요건을 충족하지 못하면 표준 통관 절차가 적용됩니다. 납세자는 세관에 수입 신고서를 전자 방식으로 제출해야 하며, 세관이 고지하는 부가세를 10일 이내에 납부해야 합니다. 기한 내에 신고서를 제출하지 않으면 10일의 경고 기간이 주어지고, 이를 어길 시 지연 기간에 따라 1,000유로에서 10,000유로의 과태료가 부과됩니다. 전자 우편함이 없는 해외 법인은 이를 갖춘 송달 대리인을 지정해야 합니다.
이 변경 사항은 2025년 1월 1일부터 납세 의무가 발생하는 수입 건에 적용됩니다. AEO(공인경제운영자)는 기업의 내부 통제, 재무 건전성, 법규 준수 등을 심사하여 안전한 국제 무역을 보장하는 인증 제도입니다.
The Slovak government has approved amendments to the Value Added Tax (VAT) Act No. 222/2004 Z. z., effective gradually from 2024 to 2026. These changes stem from public finance consolidation measures,
スロバキア政府は、付加価値税(VAT)法(No. 222/2004 Z. z.)の改正を承認しました。この改正は、2024年から2026年にかけて段階的に施行されます。主な背景には、財政健全化、商事会社および協同組合の組織再編に関する新法(No. 530/2023 Z. z.)、そして小規模事業者に関するEU理事会指令((EU) 2020/285)の国内法化があります。
슬로바키아 정부가 부가가치세법 개정안을 승인했습니다. 이 개정안은 2024년부터 2026년까지 단계적으로 시행되며, 공공 재정 건전화, 상법상 회사 및 협동조합의 구조 변경에 관한 법률, 소규모 사업자에 대한 EU 특별 규정 등을 반영한 것입니다.
**2024년 주요 변경 사항**
음식점 및 요식업 서비스에 대한 부가세율이 명확해집니다. 무알코올 음료에
The Slovak government has approved amendments to the Value Added Tax (VAT) Act No. 222/2004 Z. z., effective gradually from 2024 to 2026. These changes stem from public finance consolidation measures, the Act No. 530/2023 Z. z. on the Transformation of Commercial Companies and Cooperatives, and the transposition of Council Directive (EU) 2020/285 regarding special arrangements for small businesses.
In 2024, the VAT rate on restaurant and catering services is clarified: the reduced 10% rate applies to non-alcoholic beverages, while alcoholic beverages exceeding 0.5% alcohol content are subject to the standard 20% rate. New rules regarding the transformation of commercial companies and cooperatives affect VAT payer status, requiring notification to the tax office within ten days of becoming a payer due to asset transfers. These rules also apply to foreign entities under certain conditions. Exceptions exist for transfers not considered supply of goods/services, such as the sale of a business. Selected payment service providers must provide records upon tax office request. Conditions for VAT reduction for registered social enterprises are simplified. Exemptions for services supplied to members are restricted to specific organizations.
From 2025, changes include a new VAT payer threshold of EUR 50,000 per calendar year, with exceptions for specific circumstances. Rules are specified for foreign entities and their permanent establishments. The application process and consequences of delayed registration are modified. New definitions related to small businesses are introduced, affecting VAT exemptions. These definitions cover annual turnover in Slovakia and the EU. Special rules apply to domestic and foreign small businesses. The definition of supply of goods during leasing and the place of supply for certain services are also amended. Documentary requirements for VAT deductions are relaxed and the limit for e-cash documents and tanking automats that can serve as invoices decreases to 400 EUR.
In 2026, self-assessment for goods imported after December 31, 2024, with tax liability after June 30, 2025, will be applicable to VAT payers established in Slovakia with an approved economic operator status. Starting January 1, 2026, self-assessment will extend to all VAT payers using centralized customs procedures with an approved economic operator status.
スロバキア政府は、付加価値税(VAT)法(No. 222/2004 Z. z.)の改正を承認しました。この改正は、2024年から2026年にかけて段階的に施行されます。主な背景には、財政健全化、商事会社および協同組合の組織再編に関する新法(No. 530/2023 Z. z.)、そして小規模事業者に関するEU理事会指令((EU) 2020/285)の国内法化があります。
슬로바키아 정부가 부가가치세법 개정안을 승인했습니다. 이 개정안은 2024년부터 2026년까지 단계적으로 시행되며, 공공 재정 건전화, 상법상 회사 및 협동조합의 구조 변경에 관한 법률, 소규모 사업자에 대한 EU 특별 규정 등을 반영한 것입니다.
**2024년 주요 변경 사항**
음식점 및 요식업 서비스에 대한 부가세율이 명확해집니다. 무알코올 음료에는 10%의 인하된 세율이, 알코올 도수 0.5% 초과 주류에는 20%의 표준 세율이 적용됩니다. 상법상 회사 및 협동조합의 구조 변경 관련 규정도 신설됩니다. 자산 이전으로 부가세 납세자가 될 경우, 10일 이내에 세무 당국에 신고해야 하며, 특정 조건 하에 외국 법인에도 적용됩니다. 단, 사업의 포괄 양도와 같이 재화/용역의 공급으로 보지 않는 경우는 예외입니다. 또한, 일부 결제 서비스 제공업체는 세무 당국의 요청 시 관련 기록을 제출해야 합니다. 등록된 사회적 기업의 부가세 감면 조건은 간소화되며, 특정 단체에 한해 회원에게 제공하는 서비스에 대한 면세 혜택이 제한됩니다.
**2025년 주요 변경 사항**
2025년부터 부가세 납세자 등록 기준이 연 매출 50,000유로로 상향 조정됩니다. 외국 법인과 그 고정 사업장에 대한 규정이 구체화되고, 등록 신청 절차 및 지연 등록 시의 불이익도 변경됩니다. 소규모 사업자 관련 정의가 새로 도입되어 부가세 면제에 영향을 미칩니다. 이는 슬로바키아 국내 및 EU 전체 연간 매출액을 기준으로 하며, 국내외 소규모 사업자에게 각각 특별 규정이 적용됩니다. 리스 기간 중 재화 공급의 정의와 특정 서비스의 공급 장소에 대한 규정도 개정됩니다. 부가세 공제를 위한 증빙 서류 요건이 완화되지만, 전자 영수증이나 자동 주유기 영수증이 세금계산서로 인정되는 한도는 400유로로 하향 조정됩니다.
**2026년 주요 변경 사항**
2026년부터는 수입 부가세 자진 신고 납부 제도가 확대됩니다. 우선, 2024년 12월 31일 이후 수입되고 2025년 6월 30일 이후 납세 의무가 발생하는 재화에 대해, 종합인증우수업체(AEO) 자격을 갖춘 슬로바키아 부가세 납세자에게 자진 신고 납부가 허용됩니다. 2026년 1월 1일부터는 중앙 집중식 통관 절차를 이용하는 모든 종합인증우수업체(AEO) 자격의 부가세 납세자로 대상이 확대됩니다.
2024년 1월 1일부터 슬로바키아의 가상자산 관련 세법이 변경됩니다. 이 법에 따르면 가상자산은 중앙은행이 보증하지 않는 디지털 가치 저장 수단으로, 법정화폐와 연동되지 않지만 결제 수단으로 사용될 수 있는 것을 의미합니다. 스테이블코인과 스테이킹에 대한 정의도 포함되었습니다.
주
**Changes in Virtual Currency Taxation and Minimum Wage in Slovakia (2024)**
Effective January 1, 2024, Slovak tax law changes the treatment of virtual currencies. A virtual currency is defined as a digital store of value not issued or guaranteed by a central bank, not necessarily tied to legal tender, and accepted as a means of payment. The law also defines stablecoins and staking.
Crucially, exchanging one virtual currency for another is no longer considered a taxable sale; only exchanges for stablecoins trigger taxation. Profits from virtual currency sales within one year of acquisition or exchanges for stablecoins are taxed at 19% or 25%, depending on income level. Sales after one year are taxed at a special 7% rate. Income from mining or staking is taxed upon the sale of the acquired currency. A €2,400 exemption applies to income from exchanging virtual currency for goods or services.
The minimum monthly wage in Slovakia rises to €750 on January 1, 2024, impacting standard work hours. Consequently, minimum wage levels for different job complexity tiers increase, as do supplements for weekend, night, and holiday work. Weekend work supplement is €2.155, night work is €1.724, and work on Sundays is €4.31 per hour.
Meal allowance rates also increased, with a minimum meal voucher value of €5.85 and a maximum of €7.80. Employer contributions also see a rise.
Finally, a new law on corporate transformations, effective March 1, 2024, introduces new terminology for mergers and divisions. A key change is the introduction of "spin-offs," allowing partial asset transfers without dissolving the original company. Cross-border mergers and divisions are also addressed, with effectiveness determined by the relevant EU member state's laws.
2024년 1월 1일부터 슬로바키아의 가상자산 관련 세법이 변경됩니다. 이 법에 따르면 가상자산은 중앙은행이 보증하지 않는 디지털 가치 저장 수단으로, 법정화폐와 연동되지 않지만 결제 수단으로 사용될 수 있는 것을 의미합니다. 스테이블코인과 스테이킹에 대한 정의도 포함되었습니다.
주요 변경 사항으로, 가상자산을 다른 가상자산으로 교환하는 것은 과세 대상에서 제외되며, 스테이블코인으로 교환할 때만 과세됩니다. 가상자산 취득 후 1년 이내에 매각하거나 스테이블코인으로 교환하여 발생한 소득은 소득 수준에 따라 19% 또는 25%의 세율이 적용됩니다. 취득 1년 후 매각 시에는 7%의 특별세율로 과세됩니다. 채굴 또는 스테이킹으로 얻은 소득은 해당 자산을 매각하는 시점에 과세되며, 가상자산을 상품이나 서비스로 교환할 경우 연간 2,400유로까지 비과세 혜택이 적용됩니다.
2024년 1월 1일부터 슬로바키아의 월 최저임금이 750유로로 인상됩니다. 이에 따라 업무 난이도별 최저임금과 주말, 야간, 공휴일 근무 수당도 함께 인상됩니다. 시간당 수당은 주말 근무 2.155유로, 야간 근무 1.724유로, 일요일 근무 4.31유로입니다.
식대 지원금도 인상되어, 식권의 최소 금액은 5.85유로, 최대 금액은 7.80유로로 조정됩니다. 고용주 부담금 역시 인상됩니다.
마지막으로, 2024년 3월 1일부터 새로운 기업 구조 변경법이 시행되어 합병 및 분할 관련 용어가 새로 도입됩니다. 주요 변경점으로, 기존 회사를 해산하지 않고 자산 일부를 이전하는 '분사(spin-off)' 제도가 도입됩니다. 또한 국경 간 합병 및 분할에 대한 규정도 포함되며, 효력 발생은 관련 EU 회원국 법률에 따라 결정됩니다.
The globally integrated economy necessitates addressing the taxation of multinational corporations earning income across various countries. International organizations are advocating
세계 경제가 통합됨에 따라 여러 국가에서 소득을 창출하는 다국적 기업에 대한 과세 문제를 해결해야 할 필요성이 커졌습니다. 이에 국제기구들은 모든 국가에서 동등한 세법 적용을 보장하기 위한 통일된 접근 방식을 추진하고 있습니다. 이는 참여국들이 특정 다국적 그룹에 국한되지 않고 모두에게 적용되는 공정한 세율을 공동으로 설정하고 이를 준수하는 것을 목표로 합
**Introduction**
The globally integrated economy necessitates addressing the taxation of multinational corporations earning income across various countries. International organizations are advocating for a unified approach to ensure equal treatment under tax laws across all nations. This involves establishing a collectively agreed-upon fair tax rate, irrespective of the multinational group involved, which participating countries would respect.
Slovakia has adopted this common approach by transposing Council Directive (EU) 2022/2523, which aims to guarantee a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups within the EU, into its tax legislation.
The directive utilizes OECD Model Rules and accompanying documents for its methodological framework, aiming to ensure companies pay a fair share of taxes, whether part of a domestic group within one country or a multinational group across several.
These rules involve determining fair taxation for multinational groups or large domestic enterprises, allowing participating countries to opt for either mandatory provisions, covering income inclusion and undertaxed profits, or voluntary provisions, incorporating a top-up tax into national law. These rules align with international reporting standards that require country-by-country reporting for cumulative revenues exceeding EUR 750 million. As Slovakia hosts mainly subsidiaries of international groups rather than domestic parent companies, it has implemented a voluntary provision transposing a global top-up tax.
Slovakia has enacted Law No. 507/2023 on the Top-Up Tax to ensure a minimum taxation level for entities within its territory belonging to multinational or large domestic groups. This law covers payment and collection of the top-up tax within Slovakia, affecting groups with consolidated revenues of at least EUR 750 million in at least two of the four accounting periods immediately preceding the analysed accounting period, plus joint ventures and entities affiliated with joint ventures.
The domestic top-up tax rate aligns with the global minimum taxation level of 15%.
Entities covered by the law must determine if their effective tax rate is at least 15%. The effective tax rate is calculated as the ratio of included taxes (including deferred tax, withholding tax, or special levies) to profit/loss in a jurisdiction, adjusted for specific items. If multiple entities from the same group are in Slovakia, the effective tax rate is calculated jointly for all. If the effective rate is below 15%, a top-up tax is calculated and paid.
A company whose effective tax rate falls below 15% must notify the relevant tax office electronically, providing information to determine the top-up tax by 15 months after the end of the tax period. This deadline is extended for transitional years. If the main parent entity in another country applies mandatory provisions and settles the top-up tax there, Slovak entities must notify the tax office of the country's details where taxation occurred.
If a Slovakia company is the main parent to a group, it is responsible for ensuring the global top-up tax is assessed and paid globally.
The entity tasked with taxation in Slovakia must file a tax return within 15 months of the designated tax period's end and pay the top-up tax. Tax returns are filed electronically.
Penalties range from EUR 1,500 to EUR 50,000 for non-compliance with notification requirements.
세계 경제가 통합됨에 따라 여러 국가에서 소득을 창출하는 다국적 기업에 대한 과세 문제를 해결해야 할 필요성이 커졌습니다. 이에 국제기구들은 모든 국가에서 동등한 세법 적용을 보장하기 위한 통일된 접근 방식을 추진하고 있습니다. 이는 참여국들이 특정 다국적 그룹에 국한되지 않고 모두에게 적용되는 공정한 세율을 공동으로 설정하고 이를 준수하는 것을 목표로 합니다.
슬로바키아 역시 이러한 공동의 접근 방식에 동참했습니다. EU 내 다국적 기업 그룹과 대규모 국내 그룹에 대한 글로벌 최저한세 도입을 목표로 하는 '이사회 지침 (EU) 2022/2523'을 자국 세법에 반영한 것입니다.
이 지침의 기준이 되는 OECD 모델 규칙 및 관련 규정은 기업이 한 국가 내의 국내 그룹에 속하든, 여러 국가에 걸친 다국적 그룹에 속하든 관계없이 공정한 세금을 납부하도록 하는 데 중점을 둡니다.
이 규칙에 따라 참여국들은 다국적 그룹 또는 대규모 국내 기업의 공정한 과세를 위해 의무 조항(소득산입규칙 및 저율과세이익규칙) 또는 선택 조항(자국 법률에 추가세 도입) 중 하나를 선택할 수 있습니다. 이 규칙들은 연결 매출액이 7억 5천만 유로를 초과하는 기업에 대한 국가별 보고 의무와 같은 국제 보고 기준과도 부합합니다. 슬로바키아는 국내 모기업보다 해외 그룹의 자회사가 주로 위치해 있기 때문에, 글로벌 추가세를 도입하는 선택 조항을 시행했습니다.
슬로바키아는 다국적 또는 대규모 국내 그룹에 속하면서 자국 영토 내에 있는 기업들의 최저한세율을 보장하기 위해 '추가세에 관한 법률 제507/2023호'를 제정했습니다. 이 법은 슬로바키아 내에서의 추가세 납부 및 징수를 다루며, 적용 대상은 분석 대상 회계연도 직전 4개 회계연도 중 2개 이상의 연도에서 연결 매출액이 7억 5천만 유로 이상인 그룹과 그 합작 투자 및 관련 기업입니다.
국내 추가세율은 글로벌 최저한세율과 동일한 15%입니다.
법 적용 대상 기업은 자사의 실효세율이 15% 이상인지 판단해야 합니다. 실효세율은 특정 항목을 조정한 관할권 내 손익에 대한 대상 조세(이연법인세, 원천징수세, 특별 부담금 등 포함)의 비율로 계산됩니다. 동일 그룹 소속 기업이 슬로바키아에 여러 개 있는 경우, 모든 기업을 합산하여 실효세율을 계산합니다. 만약 실효세율이 15% 미만이면 추가세를 산정하여 납부해야 합니다.
실효세율이 15% 미만인 기업은 과세 기간 종료 후 15개월 이내에 추가세 산정에 필요한 정보를 포함하여 관할 세무서에 전자적으로 신고해야 합니다. 이 기한은 제도 도입 초기에는 연장됩니다. 만약 다른 국가의 최종 모기업이 의무 조항을 적용하여 현지에서 추가세를 납부한 경우, 슬로바키아 내 기업은 과세가 이루어진 국가 정보를 세무서에 신고해야 합니다.
슬로바키아 기업이 그룹의 최종 모기업인 경우, 전 세계적으로 글로벌 추가세가 산정되고 납부되도록 할 책임이 있습니다.
슬로바키아 내 과세 의무가 있는 기업은 지정된 과세 기간 종료 후 15개월 이내에 세금 신고서를 제출하고 추가세를 납부해야 하며, 세금 신고는 전자적으로 이루어집니다.
신고 의무를 준수하지 않을 경우, 1,500유로부터 50,000유로까지의 과태료가 부과될 수 있습니다.
Moore Global Tax and Legal Conference Brussels 2024
ムーア・グローバル 税務・法務カンファレンス 2024(ブリュッセル)
摩尔全球2024布鲁塞尔税务法律大会
무어 글로벌 2024 브뤼셀 조세·법률 컨퍼런스
24.04.2024
The author and a colleague attended the Moore Global conference in Brussels focusing on current tax and legal topics, connecting with international colleagues and gathering new insights. The conferenc
최근 벨기에 브뤼셀에서 열린 무어 글로벌(Moore Global) 컨퍼런스에 참석하여 최신 세무 및 법률 분야의 주요 현안을 다루고, 전 세계 전문가들과 교류하며 새로운 인사이트를 얻었습니다. 이번 컨퍼런스에서는 여러 회원사의 연사들이 최신 동향과 글로벌 도전 과제에 대해 심도 깊은 논의를 진행했습니다.
특히 저는 현재 유럽연합(EU)을 비롯한 전 세계에
The author and a colleague attended the Moore Global conference in Brussels focusing on current tax and legal topics, connecting with international colleagues and gathering new insights. The conference featured speakers from member firms discussing trends and global challenges. The author presented on the global minimum tax, currently being implemented in the EU and worldwide, highlighting its complexities for multinational corporations. Moore Global emphasizes the global minimum tax, leading to the creation of a dedicated task force. Key objectives were developed at the conference for this team, with updates to follow. Discussions highlighted the need for a systematic software solution across the network to remain competitive, alongside webinars and podcasts for clients. Held annually by Moore Global, the conference provides valuable insights and challenges for serving clients. The author believes the knowledge gained and connections made will enhance their services and encourages readers to reach out for assistance.
Moore Global的年度会议总能为我们带来宝贵的行业洞察,并启发我们如何更好地应对挑战、服务客户。我们相信,此次获得的专业知识和建立的广泛人脉将有力提升我们的服务能力。如您有相关需求,欢迎随时联系。
최근 벨기에 브뤼셀에서 열린 무어 글로벌(Moore Global) 컨퍼런스에 참석하여 최신 세무 및 법률 분야의 주요 현안을 다루고, 전 세계 전문가들과 교류하며 새로운 인사이트를 얻었습니다. 이번 컨퍼런스에서는 여러 회원사의 연사들이 최신 동향과 글로벌 도전 과제에 대해 심도 깊은 논의를 진행했습니다.
특히 저는 현재 유럽연합(EU)을 비롯한 전 세계에서 도입되고 있는 '글로벌 최저한세'를 주제로 발표하며, 이로 인해 다국적 기업이 마주하게 될 복잡성에 대해 강조했습니다. 무어 글로벌은 글로벌 최저한세의 중요성을 인지하고 이를 전담할 태스크포스(TF)를 구성했으며, 이번 컨퍼런스에서 해당 팀의 핵심 목표를 수립했습니다. 관련 소식은 지속적으로 업데이트할 예정입니다.
또한, 경쟁력 유지를 위해 네트워크 전반에 걸쳐 체계적인 소프트웨어 솔루션이 필요하다는 점과 고객을 위한 웨비나 및 팟캐스트를 활성화해야 한다는 논의도 있었습니다.
무어 글로벌이 매년 개최하는 이 컨퍼런스는 고객 서비스에 필요한 귀중한 통찰과 새로운 도전 과제를 제시합니다. 이번 컨퍼런스를 통해 얻은 지식과 폭넓은 네트워크는 고객에게 더 나은 서비스를 제공하는 데 큰 도움이 될 것이라 확신합니다. 관련하여 궁금한 점이 있으시면 언제든지 문의해 주시기 바랍니다.
LEX CONSOLIDATION – Changes Resulting from the Package of Measures to Consolidate Public Finances
財政健全化法 — 財政健全化策による変更点
法规整合——公共财政巩固一揽子措施所致的变更
재정 건전화법 – 공공 재정 건전화 종합 대책에 따른 변경 사항
26.01.2024
The amendment to the Income Tax Act from January 1, 2024, introduces several changes, including the reintroduction of a minimum corporate income tax similar to that in place until 2017. The withholdin
먼저, 2017년까지 시행되었던 최저 법인세가 다시 도입됩니다. 개인의 배당 소득에 대한 원천징수세율은 2024년 이후 발생 소득분부터 기존 7%에서 10%로 인상됩니다. 또한, 고용주나 회사로부터 받은 주식 및 사업 지분에 대한 비과세 조건도 구체화되었습니다.
재도입되는
The amendment to the Income Tax Act from January 1, 2024, introduces several changes, including the reintroduction of a minimum corporate income tax similar to that in place until 2017. The withholding tax on dividends for individuals increases from 7% to 10% for profits earned from 2024 onwards. The amendment also specifies conditions for tax exemptions on shares and business shares received from employers or companies.
A minimum tax for legal entities is reintroduced, calculated based on taxable income, with rates ranging from €340 to €3,840 depending on income levels. Certain entities, such as newly established companies and non-profit organizations, are exempt. The amendment also increases the income threshold for applying a 15% income tax rate to €60,000 and raises the tax exemption limit for charitable advertising income to €30,000 for specific organizations.
Regarding VAT, the reduced 10% rate no longer applies to alcoholic beverages with more than 0.5% alcohol content, which will now be subject to the standard 20% rate. A special levy on businesses in regulated sectors is expanded to include other entities licensed by the National Bank of Slovakia (NBS). A special levy on oil companies is extended to 2024.
The rate for old-age insurance increases for employers, self-employed individuals, and the self-paying. Amendments to the law on building savings remove preferential treatment for members of households. Contributions to the second pension pillar are reduced from 5.5% to 4%. Finally, the number of public holidays is reduced by removing September 1st, Constitution Day, as a public holiday.
먼저, 2017년까지 시행되었던 최저 법인세가 다시 도입됩니다. 개인의 배당 소득에 대한 원천징수세율은 2024년 이후 발생 소득분부터 기존 7%에서 10%로 인상됩니다. 또한, 고용주나 회사로부터 받은 주식 및 사업 지분에 대한 비과세 조건도 구체화되었습니다.
재도입되는 법인 최저세는 과세 소득을 기준으로 계산되며, 소득 수준에 따라 340유로에서 3,840유로까지 차등 부과됩니다. 다만, 신설 법인이나 비영리 단체 등은 면제 대상입니다. 이 밖에도 15% 소득세율이 적용되는 소득 기준이 60,000유로로 상향 조정되었으며, 특정 단체의 자선 광고 수입에 대한 비과세 한도 역시 30,000유로로 인상되었습니다.
부가가치세(VAT)의 경우, 알코올 도수 0.5%를 초과하는 주류에 적용되던 10%의 인하 세율이 폐지되고, 앞으로는 기본세율인 20%가 적용됩니다. 특정 규제 산업에 부과되던 특별 부담금은 국립은행(NBS)의 인가를 받은 다른 기관까지로 적용 대상이 확대되며, 정유사에 대한 특별 부담금은 2024년까지 연장됩니다.
사회보험 분야에서는 고용주, 자영업자, 임의가입자의 노령연금 보험료율이 인상됩니다. 주택 저축 관련 법 개정으로 가구 구성원에 대한 우대 혜택은 폐지됩니다. 2층 연금 납입률은 기존 5.5%에서 4%로 인하됩니다. 마지막으로, 9월 1일 제헌절이 공휴일에서 제외되어 전체 공휴일 수가 줄어듭니다.
Charity event for the mentally handicapped Osmidiv 2023
知的障がい者支援チャリティーイベント「オスミディブ2023」
2023 Osmidiv 关爱心智障碍者慈善活动
발달장애인과 함께하는 오스미디브 2023 자선 행사
24.04.2024
We continued our long-standing tradition of supporting the Osmidiv charity event, held in the Banská Štiavnica Amphitheater. Organized by the Milan Štefánik Civic Association, the festival focuses on
저희는 오랜 전통에 따라 반스카 슈티아브니차 원형 극장에서 열린 Osmidiv 자선 행사를 올해도 후원했습니다. 밀란 슈테파니크 시민 협회가 주최하는 이 축제는 심신이 불편한 이들을 위한 축제로, 매년 많은 이들의 관심 속에 열립니다. 행사 현장에서 마주한 웃음과 이야기, 기쁨과 서로를 향한 따뜻한 응원은 우리 각자가 어떻게 더 서로를 이해하고 포용하는 세
We continued our long-standing tradition of supporting the Osmidiv charity event, held in the Banská Štiavnica Amphitheater. Organized by the Milan Štefánik Civic Association, the festival focuses on individuals with mental and physical disabilities, attracting significant attention annually. The smiles, stories, joy, and mutual support witnessed at the event are deeply inspiring, reminding us how each individual can contribute to a more understanding and accepting world.
The cultural program featured performances by Rednex from Sweden, Gladiátor, Cigánski Diabli, Zumba Zoli, and TV JOJ's Vilo Rozboril. Children learned new skills through creative workshops like encaustic painting, plaster casting, t-shirt painting, Latin Zumba, and face painting. Artists and participants with disabilities were awarded for their creative banners and waving flags, showcasing how art and shared fun can connect people from different backgrounds. We thank all organizers, volunteers, artists, and visitors for contributing to Osmidiv's success and look forward to future events and continued support.
저희는 오랜 전통에 따라 반스카 슈티아브니차 원형 극장에서 열린 Osmidiv 자선 행사를 올해도 후원했습니다. 밀란 슈테파니크 시민 협회가 주최하는 이 축제는 심신이 불편한 이들을 위한 축제로, 매년 많은 이들의 관심 속에 열립니다. 행사 현장에서 마주한 웃음과 이야기, 기쁨과 서로를 향한 따뜻한 응원은 우리 각자가 어떻게 더 서로를 이해하고 포용하는 세상을 만드는 데 기여할 수 있는지를 다시금 일깨워 주었습니다.
문화 프로그램으로는 스웨덴의 Rednex, Gladiátor, Cigánski Diabli, Zumba Zoli, 그리고 TV JOJ의 Vilo Rozboril이 멋진 공연을 선보였습니다. 또한, 아이들은 엔커스틱 페인팅, 석고 뜨기, 티셔츠 꾸미기, 라틴 줌바, 페이스 페인팅 등 다채로운 창작 워크숍을 통해 새로운 즐거움을 경험했습니다. 장애 예술가와 참가자들은 직접 만든 현수막과 깃발로 수상의 기쁨을 누렸으며, 이는 예술과 함께하는 즐거움이 어떻게 서로 다른 배경을 가진 사람들을 하나로 잇는지를 보여주는 감동적인 순간이었습니다.
Osmidiv 행사를 성공적으로 이끌어주신 모든 주최자, 자원봉사자, 예술가, 그리고 방문객 여러분께 깊은 감사를 드립니다. 앞으로 계속될 다음 행사를 고대하며, 저희의 지원 또한 계속될 것입니다.
We participated in the project "Professional Development of Employees in Work Activities Related to Developments in the Renewing Labor Market."
Feel free to contact us if you are interested – we will be happy to assist you.
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Summary:
The announcement highlights participation in a project focused on employee professional development, specifically related to adapting to changes in the labor market. The project aims to enhance the skills and knowledge of employees to meet the evolving demands of their jobs. The announcement encourages interested individuals to reach out for assistance, indicating a willingness to provide support and guidance related to the project's objectives. Finally, it incorporates a feedback mechanism, inviting readers to rate the usefulness of the content. The current average rating is based on one vote and prompts for further participation in the rating process.
이 공지문은 노동 시장 변화에 적응하기 위한 직원 전문성 개발 프로젝트 참여 소식을 알립니다. 이 프로젝트는 변화하는 직무 환경의 요구에 맞춰 직원의 기술과 지식을 향상시키는 것을 목표로 합니다. 또한, 관심 있는 분들께 프로젝트와 관련된 지원 및 안내를 제공하고자 문의를 권장하고 있습니다. 마지막으로, 독자들이 콘텐츠의 유용성을 평가할 수 있는 피드백 기능이 포함되어 있으며, 현재 1명의 평가를 기반으로 한 평균 평점과 함께 더 많은 참여를 유도하고 있습니다.
지나친 세금 인상은 시장에 득보다 실이 될 가능성이 높습니다. 국가는 국민에게 더 양질의 서비스를 제공해야 합니다.
31.10.2023
Slovakia faces a paradoxical situation: taxpayers pay more but receive less in return, unlike Western countries where higher taxes correlate with better public services. Tax issues impact everyone, as
슬로바키아는 납세자의 세금 부담은 늘어나는 반면 공공 서비스의 질은 그에 미치지 못하는 역설적인 상황에 놓여 있습니다. 이는 높은 세금이 더 나은 공공 서비스로 이어지는 서구 국가들과는 대조적인 모습입니다. 세금 문제는 공공 서비스의 질과 개인의 재정에 모두 영향을 미치므로, 이러한 변화가 시민과 기업에 미치는 영향을 신중히 살펴보는 것이 중요합니다.
이
Slovakia faces a paradoxical situation: taxpayers pay more but receive less in return, unlike Western countries where higher taxes correlate with better public services. Tax issues impact everyone, as tax increases affect both the quality of public services and personal finances. It's crucial to consider how these changes impact citizens and businesses. Partner Mr. Kiňa's perspective on this topic can be found in an online article in TREND magazine, accessible via the provided link. Readers are encouraged to contact the mentioned party for assistance. Readers can rate the article's usefulness.
Slovakia is experiencing a discrepancy where increased tax burdens don't translate into improved public services, contrasting with Western models. The implications of tax changes for individuals and businesses are highlighted, urging consideration of their impact. A TREND magazine article featuring Mr. Kiňa's insights on the matter is referenced. Readers are invited to explore the article and seek further assistance from the related entity. The purpose is to inform the readers and make them evaluate the article.
슬로바키아는 납세자의 세금 부담은 늘어나는 반면 공공 서비스의 질은 그에 미치지 못하는 역설적인 상황에 놓여 있습니다. 이는 높은 세금이 더 나은 공공 서비스로 이어지는 서구 국가들과는 대조적인 모습입니다. 세금 문제는 공공 서비스의 질과 개인의 재정에 모두 영향을 미치므로, 이러한 변화가 시민과 기업에 미치는 영향을 신중히 살펴보는 것이 중요합니다.
이 주제에 대한 Kiňa 파트너의 견해는 트렌드(TREND) 매거진 온라인 기사에서 확인하실 수 있습니다. 제공된 링크를 통해 기사를 읽어보시고 도움이 필요하시면 언제든지 문의해 주시기 바랍니다. 기사의 유용성 또한 평가하실 수 있습니다.
The recent 4th International Congress of Family Businesses featured insightful lectures and presentations providing valuable information and inspiration
최근 개최된 제4회 국제 가족 기업 총회에서는 가치 있는 정보와 영감을 주는 수준 높은 강연과 발표가 진행되었습니다. Moore BDR은 이 행사의 일환으로 워크숍을 주관하여, 가족 기업의 수익성 증대와 세금 부담 최소화를 위한 세무 계획 및 구조화 전략에 대해 논의했습니다.
이번 워크숍에서는 성공적인 가족 기업들이 실제로
Dear friends and members of family businesses,
The recent 4th International Congress of Family Businesses featured insightful lectures and presentations providing valuable information and inspiration. Moore BDR organized a workshop at the event, focusing on tax planning and structuring family businesses for increased profitability and minimized tax burden.
The workshop presented tax strategies implemented in successful family businesses, including tax advantages of holding structures, tax optimization in research and development (patent box, super deduction), tax optimization for individuals in investments (securities, real estate, cryptocurrencies), tax and levy optimization within corporate entrepreneurship (partner vs. employee), and preparing for the future from a tax perspective.
The event also included global speakers in family business consulting and founders of selected international family businesses. Videos of the lectures translated into Slovak are available. Further information about the Family Office Hub is also available.
Summary:
The 4th International Congress of Family Businesses provided valuable insights for family businesses. Moore BDR hosted a workshop focusing on tax planning strategies to improve profitability and minimize tax burdens. Key topics included holding structures, R&D optimization, investment optimization, and optimizing between being a partner or employee. The event featured global experts and founders of international family businesses. Resources, including translated videos and information on the Family Office Hub, are available online. The congress aimed to equip family businesses with the knowledge to navigate future challenges and opportunities, particularly in the realm of taxation. Moore BDR emphasizes the importance of proactive planning and strategic structuring for long-term success.
최근 개최된 제4회 국제 가족 기업 총회에서는 가치 있는 정보와 영감을 주는 수준 높은 강연과 발표가 진행되었습니다. Moore BDR은 이 행사의 일환으로 워크숍을 주관하여, 가족 기업의 수익성 증대와 세금 부담 최소화를 위한 세무 계획 및 구조화 전략에 대해 논의했습니다.
이번 워크숍에서는 성공적인 가족 기업들이 실제로 적용하고 있는 다음과 같은 세무 전략들이 소개되었습니다: 지주 회사 구조의 세제 혜택, 연구개발(R&D) 관련 세금 최적화(특허 박스, 특별 공제 등), 개인의 투자(증권, 부동산, 암호화폐) 관련 세금 최적화, 기업 운영 형태(파트너 혹은 직원)에 따른 세금 및 공과금 최적화, 그리고 세무 관점에서의 미래 대비 전략.
또한, 이번 행사에는 가족 기업 컨설팅 분야의 세계적인 연사들과 저명한 글로벌 가족 기업 창업가들이 참여했습니다. 슬로바키아어로 번역된 강연 영상과 Family Office Hub에 대한 자세한 정보도 확인하실 수 있습니다.
**요약:**
제4회 국제 가족 기업 총회는 가족 기업들을 위한 귀중한 통찰력을 제공하는 자리였습니다. Moore BDR은 수익성 향상과 세금 부담 최소화를 위한 세무 전략 워크숍을 개최했습니다. 주요 논의 주제로는 지주 회사 구조, R&D 세제 혜택, 개인 투자 최적화, 파트너와 직원 형태에 따른 세금 최적화 등이 있었습니다. 행사에는 세계적인 전문가들과 글로벌 가족 기업의 창업가들이 함께했습니다. 번역된 강연 영상과 Family Office Hub 관련 정보 등 다양한 자료는 온라인을 통해 제공됩니다. 이번 총회는 가족 기업이 미래의 도전과 기회, 특히 세무 분야에 효과적으로 대응할 수 있도록 전문 지식을 공유하는 것을 목표로 했습니다. Moore BDR은 장기적인 성공을 위해 선제적인 계획과 전략적인 기업 구조 설계가 매우 중요함을 강조합니다.
마틴 키노: 가족 기업은 많은 일을 미루다가, 막상 투자자가 나타나면 준비가 되어있지 않습니다.
04.08.2023
Transforming a company for the next generation is crucial for survival; failure to do so could lead to its downfall or family discord. Tax advisor Martin Kiňo believes that while progressive taxation
다음 세대를 위한 기업의 변화는 생존에 필수적입니다. 이를 소홀히 하면 회사가 몰락하거나 가족 간의 분쟁으로 이어질 수 있습니다.
세무 자문가 마르틴 키뇨는 개인과 부유층에 대한 누진세가 강화될 가능성이 있지만, 정부는 기업이 성장하고 고용을 창출할 수 있도록 기업가 정신을 지원하는 것을 우선해야 한다고 말합니다.
키뇨는 수년이 걸릴 수 있는 기업 혁신
Transforming a company for the next generation is crucial for survival; failure to do so could lead to its downfall or family discord. Tax advisor Martin Kiňo believes that while progressive taxation of individuals and the wealthy is likely, governments should prioritize supporting entrepreneurship so businesses can thrive and employ people.
Kiňo highlights the importance of business transformation, which can take several years, and comments on Slovakia's tax burden. He suggests governments should focus on fostering a supportive environment for businesses to succeed.
Instead of rapid expansion, companies are focusing on profit growth.
企業は急速な規模拡大よりも、利益の成長を重視している。
企业不再追求规模扩张,转而聚焦盈利增长。
기업들은 외형 확장보다는 수익 성장에 집중하고 있다.
04.08.2023
Opportunities for company growth lie in three areas: digitalization, effective marketing, and innovation, according to the Partners for Company Development. Company directors invest most of their ener
기업 성장 파트너(Partners for Company Development)는 기업 성장의 기회가 디지털화, 효과적인 마케팅, 혁신이라는 세 가지 핵심 영역에 있다고 분석합니다.
많은 기업 경영진이 전략 기획이나 경영 효율성 제고보다는 당면한 일상 업무에 대부분의 역량을 쏟고 있으며, 이는 기업의 빠른 성장을 저해하는 요인이 될 수 있습니다. 조직의 성
Opportunities for company growth lie in three areas: digitalization, effective marketing, and innovation, according to the Partners for Company Development. Company directors invest most of their energy in daily operations at the expense of strategic planning and management efficiency. This can hinder rapid growth. A clear division of tasks contributes to better organizational functioning. Cost-cutting alone is no longer sufficient.
New opportunities are the way forward. Where can they be found? What are the new trends in financial management? What other challenges do Slovak companies face? Experts from the Partners for Company Development – Martin Kiňo, Michal Mackov, Štěpán Štarha, and Matej Taliga – answered these and other questions.
The Partners for Company Development identifies three key areas for business growth: digitalization, effective marketing, and innovation. Many companies prioritize daily operations over strategic planning, potentially hindering their progress despite rapid growth. Improved organizational performance requires a clear task division. Traditional cost-cutting measures are insufficient.
Instead, firms should focus on identifying and exploiting new opportunities. Experts from the organization, including Martin Kiňo, Michal Mackov, Štěpán Štarha, and Matej Taliga, address key questions surrounding these opportunities, new financial management trends, and the specific challenges faced by Slovak companies. The partnership offers assistance and emphasizes that these elements, particularly focusing on areas beyond simple cost reduction, are essential for fostering sustainable and significant business expansion.
企业未来的出路在于把握新机遇。这些机遇在哪里?财务管理有哪些新趋势?斯洛伐克等地的公司还面临哪些特有挑战?针对这些问题,该机构的专家 Martin Kiňo、Michal Mackov、Štěpán Štarha 和 Matej Taliga 提供了专业解答。他们强调,企业必须超越传统的成本控制思维,积极识别和利用新机遇,这对于促进可持续的显著扩张至关重要。
기업 성장 파트너(Partners for Company Development)는 기업 성장의 기회가 디지털화, 효과적인 마케팅, 혁신이라는 세 가지 핵심 영역에 있다고 분석합니다.
많은 기업 경영진이 전략 기획이나 경영 효율성 제고보다는 당면한 일상 업무에 대부분의 역량을 쏟고 있으며, 이는 기업의 빠른 성장을 저해하는 요인이 될 수 있습니다. 조직의 성과를 높이려면 명확한 역할 분담이 필요하며, 이제 전통적인 비용 절감 방식만으로는 충분하지 않습니다.
대신 기업들은 새로운 기회를 찾아 적극적으로 활용하는 데 집중해야 합니다. 새로운 기회는 어디에 있으며, 금융 관리의 새로운 트렌드는 무엇일까요? 또한 슬로바키아 기업들은 어떤 문제에 직면하고 있을까요? 마틴 키뇨, 미할 마츠코프, 슈테판 슈타르하, 마테이 탈리가 등 기업 성장 파트너의 전문가들이 이러한 질문에 대한 해답을 제시합니다. 이들은 단순한 비용 절감을 넘어 앞서 언급한 핵심 요소들에 집중하는 것이 지속 가능하고 의미 있는 사업 확장을 위한 필수 조건이라고 강조합니다.
Current news not only from the field of taxes – Part 3
税務分野にとどまらない最新ニュース – 第3回
最新动态:不止于税务领域(三)
세무 등 최신 소식 – 3부
19.07.2023
**Summary:**
Slovakian law has removed Controlled Foreign Corporation (CFC) rules for individuals, effective August 1, 2023, due to concerns about proportionality and purpose. This change aims to dis
2023년 8월 1일부터 슬로바키아에서 개인을 대상으로 한 해외통제기업(CFC) 과세 규정이 폐지되었습니다. 이는 제도의 실효성과 비례성에 대한 문제 제기에 따른 조치로, 자국 납세자의 해외 이전을 방지하기 위한 목적입니다.
또한, 슬로바키아 재무국은 계약상 위약금의 부가가치세 과세 여부를 검토하고
**Summary:**
Slovakian law has removed Controlled Foreign Corporation (CFC) rules for individuals, effective August 1, 2023, due to concerns about proportionality and purpose. This change aims to discourage tax subjects from moving abroad. Simultaneously, the Financial Directorate of the Slovak Republic is reviewing the inclusion of contractual penalties and similar payments in the VAT base, emphasizing that amounts paid under contractual terms related to goods or services should be considered part of the taxable base, regardless of their designation. Interest on late payments and compensation for damaged goods are exceptions. Furthermore, the VAT treatment of financial contributions from landlords to tenants, such as "free rent" periods or "fit-out" contributions, requires careful assessment to determine if they constitute taxable supplies. Finally, a new law on the transformation of commercial companies and cooperatives, effective June 28, 2023, transposes EU Directive 2019/2121, introducing new terminology and procedures for cross-border conversions, mergers, divisions, and changes of legal form, aiming to streamline company mobility and enhance protection for stakeholders.
2023년 8월 1일부터 슬로바키아에서 개인을 대상으로 한 해외통제기업(CFC) 과세 규정이 폐지되었습니다. 이는 제도의 실효성과 비례성에 대한 문제 제기에 따른 조치로, 자국 납세자의 해외 이전을 방지하기 위한 목적입니다.
또한, 슬로바키아 재무국은 계약상 위약금의 부가가치세 과세 여부를 검토하고 있습니다. 명칭과 관계없이 상품이나 서비스 공급과 관련하여 지급되는 금액은 부가가치세 과세표준에 포함되어야 한다는 점을 강조했습니다. 다만, 연체 이자나 상품 파손에 대한 배상금 등은 예외로 인정됩니다. 이와 함께 임대인이 임차인에게 제공하는 '렌트프리(무상 임대)'나 '인테리어 공사비 지원'과 같은 금전적 혜택이 과세 대상이 되는지에 대한 신중한 검토가 필요하다고 밝혔습니다.
마지막으로, 2023년 6월 28일부터 새로운 상사 및 협동조합의 조직 변경에 관한 법률이 시행됩니다. 이 법은 EU 지침을 반영한 것으로, 기업의 국경 간 이동을 원활하게 하고 이해관계자 보호를 강화하는 데 중점을 둡니다. 이에 따라 국경을 넘는 합병, 분할, 법적 형태 변경 등에 대한 새로운 용어와 절차가 도입되었습니다.
Current news not only from the field of taxes – Part 2
税務分野に限らない最新ニュース – その2
时事新闻:不止于税务领域(二)
최신 세무 및 주요 동향 – 2부
29.06.2023
The Slovak National Council has approved an amendment to the Law on the Protection of Whistleblowers, effective from July 1, 2023, with provisions on internal investigation system obligations and fine
슬로바키아 국민의회가 공익신고자 보호법 개정안을 승인했습니다. 개정안은 2023년 7월 1일부터 시행되며, 내부 조사 시스템 의무 및 벌금 관련 조항은 9월 1일부터 적용됩니다. 이번 개정으로 고용주의 의무가 신설되고, 신고자 보호가 강화되며, 관련 처벌도 무거워집니다.
내부 조사 시스템은 공익신고를 접수, 조사하고 그 결과를 통보하는 내부 절차와 규정을
The Slovak National Council has approved an amendment to the Law on the Protection of Whistleblowers, effective from July 1, 2023, with provisions on internal investigation system obligations and fines effective from September 1, 2023. The amendment introduces new employer obligations, strengthens whistleblower protection, and increases sanctions.
The internal investigation system involves internal processes and rules for receiving, investigating, and reporting the results of whistleblower reports. The amendment expands the scope of employers required to have such a system, including those providing services in transport, environment, and finance, regardless of employee count. It restricts delegating investigation duties to external entities, allowing it only for employers with fewer than 250 employees who are not public authorities.
The amendment broadens the definition of "whistleblower" to include those in "other similar relationships," extending protection to self-employed individuals, members of statutory and supervisory bodies, former employees, and prospective employees.
Sanctions for hindering whistleblowing, breaching confidentiality, or retaliating against whistleblowers can reach €6,000, doubling to €12,000 for repeat offenses. Employers can face fines up to €100,000.
Separately, the EU Court of Justice has ruled that charging electric vehicles constitutes a supply of goods for VAT purposes, encompassing access to charging stations, electricity flow, technical support, and related IT services.
슬로바키아 국민의회가 공익신고자 보호법 개정안을 승인했습니다. 개정안은 2023년 7월 1일부터 시행되며, 내부 조사 시스템 의무 및 벌금 관련 조항은 9월 1일부터 적용됩니다. 이번 개정으로 고용주의 의무가 신설되고, 신고자 보호가 강화되며, 관련 처벌도 무거워집니다.
내부 조사 시스템은 공익신고를 접수, 조사하고 그 결과를 통보하는 내부 절차와 규정을 의미합니다. 개정안은 직원 수와 관계없이 운송, 환경, 금융 분야 사업자까지 내부 조사 시스템을 의무적으로 갖추도록 대상을 확대했습니다. 조사 업무의 외부 위탁은 250인 미만 사업장이면서 공공기관이 아닌 경우에만 제한적으로 허용됩니다.
'공익신고자'의 범위도 넓어져 자영업자, 법인 기관의 구성원, 전 직원, 채용 후보자 등 '기타 유사한 관계'에 있는 사람도 보호 대상에 포함됩니다.
신고 방해, 비밀유지 의무 위반, 보복 행위에 대해서는 최대 6천 유로의 벌금이 부과될 수 있으며, 반복 위반 시에는 1만 2천 유로까지 가중됩니다. 고용주에게는 최대 10만 유로의 과태료가 부과될 수 있습니다.
한편, 유럽연합 사법재판소는 전기차 충전을 부가가치세법상 '재화의 공급'에 해당한다고 판결했습니다. 여기에는 충전소 접근, 전력 공급, 기술 지원 및 관련 IT 서비스가 모두 포함됩니다.
Current news not only from the field of taxes - part 1
税務に限らない最新ニュース - パート1
时讯:不止于税务(一)
세무 분야뿐만 아닌 최신 소식 - 1부
21.06.2023
Effective June 1, 2023, meal allowance rates for domestic business trips in Slovakia have increased. For trips lasting 5-12 hours, the allowance is now €7.30; 12-18 hours, €10.90; and over 18 hours, €
2023년 6월 1일부터 슬로바키아의 국내 출장 시 식비 지원금이 인상되었습니다. 출장 기간에 따라 ▲5-12시간: 7.30유로 ▲12-18시간: 10.90유로 ▲18시간 초과: 16.40유로가 지급됩니다. 식권의 최소 금액은 5-12시간 출장 지원금의 75%에 해당하는 5.48유로입니다. 자영업자는 근무일당 식비로 5-12시간 지원금의 55%인 최대 4.
Effective June 1, 2023, meal allowance rates for domestic business trips in Slovakia have increased. For trips lasting 5-12 hours, the allowance is now €7.30; 12-18 hours, €10.90; and over 18 hours, €16.40. The minimum value of meal vouchers is €5.48, based on 75% of the 5-12 hour allowance. Self-employed individuals can claim a maximum of €4.02 per workday for meal expenses, representing 55% of the 5-12 hour allowance.
Amendments to the Act on Regional Investment Aid, effective May 1, 2023, extend the period for claiming tax relief under § 30a of the Income Tax Act, excluding the tax periods in 2023 and 2024 from the deadline for starting tax relief and excluding three consecutive tax periods, beginning in 2023, from the eligibility period for tax relief. This extension also applies to decisions under previous investment aid legislation.
The Ministry of Economy of the Slovak Republic will continue providing compensation for increased electricity and gas prices through September 2023. Businesses engaged in economic activities are eligible for subsidies up to 80% of eligible costs, with a maximum subsidy of €200,000 per month per company. The increase in price is calculated as the difference between the unit price paid during the eligible period and €199 per MWh for electricity or €99 per MWh for gas. Applications must be submitted by November 30, 2023. Businesses without an established electricity or gas connection during the eligible period are not eligible, and the gas or electricity cannot have been used to produce electricity or heat.
2023년 6월 1일부터 슬로바키아의 국내 출장 시 식비 지원금이 인상되었습니다. 출장 기간에 따라 ▲5-12시간: 7.30유로 ▲12-18시간: 10.90유로 ▲18시간 초과: 16.40유로가 지급됩니다. 식권의 최소 금액은 5-12시간 출장 지원금의 75%에 해당하는 5.48유로입니다. 자영업자는 근무일당 식비로 5-12시간 지원금의 55%인 최대 4.02유로까지 경비 처리가 가능합니다.
2023년 5월 1일부터 지역 투자 지원법 개정안이 시행됩니다. 이에 따라 소득세법에 명시된 세금 감면 혜택을 신청할 수 있는 기간이 연장됩니다. 구체적으로, 세금 감면 혜택을 받기 시작해야 하는 기한을 계산할 때 2023년과 2024년은 제외되며, 혜택을 받을 수 있는 전체 기간에서도 2023년부터 3년간은 제외됩니다. 이 연장 조치는 기존 투자 지원법에 따른 결정에도 동일하게 적용됩니다.
슬로바키아 경제부는 인상된 전기 및 가스 요금에 대한 보조금 지원을 2023년 9월까지 연장합니다. 경제 활동을 하는 기업은 지원 대상 비용의 최대 80%까지, 기업당 월 최대 20만 유로의 보조금을 신청할 수 있습니다. 보조금은 MWh당 전기 요금 199유로, 가스 요금 99유로를 초과하는 인상분에 대해 지급됩니다. 신청 마감일은 2023년 11월 30일입니다. 단, 지원 대상 기간에 전기나 가스를 공급받지 않았거나, 공급받은 에너지로 전기 또는 열을 생산한 기업은 지원 대상에서 제외됩니다.
Press Release – Moore Group in Slovakia Joins Forces
プレスリリース:ムーア・グループ、スロバキアで事業提携
新闻稿:摩尔斯洛伐克强强联手
보도 자료: 무어 그룹, 슬로바키아에서 파트너십 체결
04.05.2023
We are pleased to announce our certification as Odoo accountants. Having used Odoo extensively, we're impressed with its performance and efficiency, and embrace digital, paperless accounting. We're ex
저희가 Odoo 공인 회계사 자격을 취득했음을 기쁜 마음으로 알려드립니다. 오랫동안 Odoo를 사용하며 그 뛰어난 성능과 효율성을 직접 경험했고, 이를 통해 디지털 페이퍼리스 회계를 실현하고 있습니다. 오랜 Odoo 골드 파트너인 26House와 협력하게 되어 매우 기쁩니다. 26House는 체코와 슬로바키아 법률에 완벽하게 부합하는 Odoo 회계 현지화
We are pleased to announce our certification as Odoo accountants. Having used Odoo extensively, we're impressed with its performance and efficiency, and embrace digital, paperless accounting. We're excited to begin collaboration with 26House, a long-standing Odoo Gold Partner, offering comprehensive localization of Odoo accounting compliant with Czech and Slovak legislation. 26House, with over 20 years of experience and a dedicated team, aids businesses of all sizes with end-to-end Odoo ERP implementation.
Our Odoo expertise, coupled with certifications in auditing and tax consulting, allows us to provide high-quality, efficient business process management services, improving client financial performance and profitability. Martin Kiňo, partner at Moore BDR, and Roman Konečný, CEO of Moore Technology, spearhead Moore Technology Slovakia, which provides digitalization, hardware/software solutions, ERP system implementation, cybersecurity services, IT consulting, and online education.
Roman Konečný envisions helping clients achieve their goals through smart IT system usage. Moore Technology Slovakia, a joint venture between Moore Slovakia and Moore Czech Republic, collaborates with Moore Technology CZ and its subsidiaries Servodata, Doxologic, and Datascript. Moore BDR, an auditing and consulting firm with 30 years of experience in Slovakia and a member of Moore Global, offers a wide range of services. Moore Czech Republic, part of Moore Global since 2020, provides comprehensive services across six sub-holdings and operates in several cities. Moore Global is a global network of accounting and consulting firms.
凭借我们在 Odoo 领域的专业知识,以及在审计和税务咨询方面获得的专业认证,我们能为客户提供高质量、高效率的业务流程管理服务,帮助客户提升财务表现与盈利能力。Moore Technology Slovakia 公司由 Moore BDR 合伙人 Martin Kiňo 与 Moore Technology 首席执行官 Roman Konečný 共同领导,致力于提供数字化转型、软硬件解决方案、ERP系统实施、网络安全、IT咨询及在线教育等服务。
Roman Konečný 致力于通过智能化的 IT 系统应用,助力客户实现业务目标。Moore Technology Slovakia 是由 Moore Slovakia 和 Moore Czech Republic 共同成立的合资公司,并与 Moore Technology CZ 及其子公司 Servodata、Doxologic 和 Datascript 紧密合作。Moore BDR 是一家在斯洛伐克拥有30年历史的审计与咨询公司,作为 Moore Global 的成员,提供多元化的专业服务。Moore Czech Republic 自2020年起加入 Moore Global,通过其六大业务板块在多个城市提供综合性服务。Moore Global 是一个由全球会计与咨询公司组成的专业服务网络。
저희가 Odoo 공인 회계사 자격을 취득했음을 기쁜 마음으로 알려드립니다. 오랫동안 Odoo를 사용하며 그 뛰어난 성능과 효율성을 직접 경험했고, 이를 통해 디지털 페이퍼리스 회계를 실현하고 있습니다. 오랜 Odoo 골드 파트너인 26House와 협력하게 되어 매우 기쁩니다. 26House는 체코와 슬로바키아 법률에 완벽하게 부합하는 Odoo 회계 현지화 서비스를 제공하는 전문 기업입니다. 20년 이상의 경험과 전문팀을 갖춘 26House는 기업 규모와 관계없이 Odoo ERP 시스템 도입의 전 과정을 지원합니다.
저희의 Odoo 전문성에 감사 및 세무 컨설팅 자격이 더해져, 고객의 재무 성과와 수익성을 개선하는 고품질의 효율적인 비즈니스 프로세스 관리 서비스를 제공할 수 있게 되었습니다. Moore BDR의 파트너 Martin Kiňo와 Moore Technology의 CEO Roman Konečný가 Moore Technology Slovakia를 이끌고 있습니다. Moore Technology Slovakia는 디지털 전환, 하드웨어/소프트웨어 솔루션, ERP 시스템 구축, 사이버 보안, IT 컨설팅, 온라인 교육 등 다양한 서비스를 제공합니다.
Roman Konečný CEO는 스마트 IT 시스템을 통해 고객이 비즈니스 목표를 달성하도록 돕겠다는 비전을 가지고 있습니다. Moore Technology Slovakia는 Moore Slovakia와 Moore Czech Republic의 합작 회사로, Moore Technology CZ 및 그 자회사인 Servodata, Doxologic, Datascript와 긴밀히 협력합니다. 슬로바키아에서 30년의 역사를 자랑하는 감사 및 컨설팅 전문 기업인 Moore BDR은 Moore Global의 회원사로서 폭넓은 서비스를 제공합니다. 2020년부터 Moore Global의 일원이 된 Moore Czech Republic은 6개의 자회사를 통해 여러 도시에서 종합적인 서비스를 운영하고 있습니다. Moore Global은 전 세계 회계 및 컨설팅 기업들의 글로벌 네트워크입니다.
The Income Tax Act (§ 33) allows taxpayers with taxable income under § 5 or § 6, sections 1 and 2 to claim a tax bonus for each dependent child living in their household. As of Jan
소득세법 규정에 따라 특정 소득이 있는 납세자는 가구 내 부양 자녀 1인당 세금 공제 혜택을 받을 수 있습니다. 2023년 1월 1일부터 이 공제액은 15세 초과 자녀의 경우 월 50유로, 15세 이하 자녀의 경우 월 100유로로 인상됩니다. 단, 자녀가 급식 지원 보조금을 받는 경우는 제외됩니다.
2023년 1월부터 2024년 12월까
**Income Tax Act**
The Income Tax Act (§ 33) allows taxpayers with taxable income under § 5 or § 6, sections 1 and 2 to claim a tax bonus for each dependent child living in their household. As of January 1, 2023, the bonus increases to €50 monthly for children over 15 and €100 monthly for children under 15, except when the child receives a subsidy for meal support.
A temporary change increases the bonus to €50 for dependents over 18 and €140 for those under 18, valid from January 2023 to December 2024, excluding cases with meal support subsidies. The bonus is capped based on a percentage of the income tax base: 20% for one child, up to 55% for six or more.
The Act introduces a "safe harbor" for transfer pricing by defining a significant controlled transaction as one exceeding €10,000, reducing administrative burden. The financial administration will use the median of independent comparable values. Related party definitions are also updated, including close relatives. The OECD Transfer Pricing Guidelines are incorporated into Slovak law. Bilateral and multilateral Advance Pricing Agreements (APAs) can be issued for over five tax periods if agreed. Taxpayers can submit transfer pricing documentation in any foreign language, with a 15-day Slovak translation upon request. Rules for determining the tax base of a permanent establishment of a Slovak non-resident are revised to align with OECD standards. The act also includes changes related to interest expense limitations, preventative restructuring, insurance pricing, registration adjustments, and the taxation of corporate bond yields.
**VAT Act**
The VAT Act (§ 53b) requires customers (debtors) to correct deducted VAT if they haven't paid for goods or services 100 days after the due date. Debtors can re-deduct the corrected VAT upon payment. This applies only to cases where the supplier pays the tax (§ 69, section 1), not reverse charge situations. The Act introduces a presumption for the latest possible delivery date of correction documents.
For irrecoverable debts (§25a), a debt is deemed irrecoverable if unpaid 150 days after the due date, meeting conditions based on value (above or below €1,000 including VAT). Rules regarding low-value debts (under €300) are removed.
The Act removes mandatory VAT registration for entities with a turnover of €49,790 solely from exempt activities (§ 37-39). These entities can request deregistration. A reduced VAT rate of 10% applies from January 1 to March 31, 2023, to certain gastronomy, sports services, and passenger transport via cable cars and ski lifts.
**Accounting Act**
The Accounting Act (§ 21) requires final parent companies with consolidated revenues exceeding €750 million in each of the two previous accounting periods to prepare a report with income tax information. A standalone accounting unit should do the same if its revenues exceeded €750,000,000. These reports must be filed in the commercial registry, excluding entities exclusively tax resident in Slovakia or those publishing annual reports according to the Banking Act. Auditors must include information regarding the income tax report according to (§ 21a or § 21b) in the auditor's report. Also, the auditor´s report is required for legal entities which has received over 35.000 eur of tax payment shares.
**Act on International Assistance and Cooperation in Tax Administration**
DAC7 mandates digital platforms like Airbnb and Uber to report customer information to the financial administration, starting in January 2023, without being prompted. Reporting occurs annually, with the first report due by January 31, 2024, for the 2023 period.
**Commercial Code**
Amendments to the Commercial Code alter the effective date of transferring a majority share in a company, eliminating legal distinctions between majority and minority share transfers. The registry entry now confirms an existing legal state. The requirement to provide tax administrator consent for transferring majority shares if either transferor or transferee appears on the tax debtor list is removed.
**Minimum Wage Act**
The minimum wage, effective January 1, 2023, is set at €700 per month or €4.023 per hour.
**Travel Expense Act**
As of January 1, 2023, meal allowance rates for business trips increase to €6.80 (5-12 hours), €10.10 (12-18 hours), and €15.30 (over 18 hours). The minimum value of meal vouchers is €5.10.
소득세법 규정에 따라 특정 소득이 있는 납세자는 가구 내 부양 자녀 1인당 세금 공제 혜택을 받을 수 있습니다. 2023년 1월 1일부터 이 공제액은 15세 초과 자녀의 경우 월 50유로, 15세 이하 자녀의 경우 월 100유로로 인상됩니다. 단, 자녀가 급식 지원 보조금을 받는 경우는 제외됩니다.
2023년 1월부터 2024년 12월까지 한시적으로 18세 초과 부양가족에 대해서는 월 50유로, 18세 이하 부양가족에 대해서는 월 140유로로 공제액이 인상됩니다. 이 또한 급식 지원 보조금을 받는 경우는 제외됩니다. 공제 한도액은 소득세 과세표준의 일정 비율에 따라 정해지며, 자녀가 1명일 경우 20%에서 시작해 6명 이상일 경우 최대 55%까지 적용됩니다.
또한, 10,000유로를 초과하는 거래를 중요한 특수관계자 간 거래로 정의하여 이전가격세제 관련 행정 부담을 줄이는 면책 조항이 도입됩니다. 과세 당국은 독립된 기업 간의 거래 가격 중 중간값을 기준으로 삼게 됩니다. 가까운 친척을 포함하는 등 특수관계자의 정의도 개정되며, OECD 이전가격 가이드라인이 국내법에 통합됩니다. 상호 합의가 있다면, 5년을 초과하는 기간에 대해 양자 또는 다자간 정상가격산출방법 사전승인(APA)을 받을 수 있습니다. 납세자는 이전가격 관련 서류를 외국어로 제출할 수 있으며, 당국의 요청이 있을 경우 15일 이내에 슬로바키아어 번역본을 제출해야 합니다. 비거주자의 국내 고정사업장 과세표준 결정 규칙도 OECD 기준에 맞춰 개정됩니다. 이 외에도 이자 비용 공제 한도, 사전 예방적 구조조정, 보험료 산정, 사업자 등록 조정, 회사채 수익 과세 관련 변경 사항이 포함됩니다.
**부가가치세법**
부가가치세법에 따라, 고객(채무자)은 재화나 용역을 공급받고 대금 지급기한으로부터 100일이 지나도록 대금을 지급하지 않은 경우, 공제받았던 부가가치세를 수정하여 납부해야 합니다. 이후 대금을 지급하면 수정했던 부가세를 다시 공제받을 수 있습니다. 이 규정은 공급자가 세금을 납부하는 경우에만 적용되며, 역부과 방식에는 적용되지 않습니다. 또한, 수정 세금계산서의 교부 시점을 명확히 하기 위한 규정이 도입됩니다.
대손세액공제와 관련하여, 채무가 지급기한으로부터 150일 이상 미지급 상태이고 일정 조건을 충족하면 회수 불가능한 것으로 간주합니다. 이 조건은 채권 금액(부가세 포함 1,000유로)을 기준으로 구분됩니다. 300유로 미만의 소액 채무에 대한 기존 규정은 삭제됩니다.
면세 사업(매출액 49,790유로)만 영위하는 사업자에 대한 부가세 의무 등록 규정이 폐지되며, 해당 사업자는 등록 말소를 요청할 수 있습니다. 2023년 1월 1일부터 3월 31일까지 요식업, 스포츠 시설, 케이블카 및 스키 리프트 이용과 같은 여객 운송 서비스에는 10%의 인하된 부가세율이 적용됩니다.
**회계법**
회계법에 따라, 직전 2개 회계연도 각각의 연결 수익이 7억 5,000만 유로를 초과하는 최종 모회사는 소득세 정보 보고서를 작성해야 합니다. 독립 회계 단위의 경우에도 수익이 7억 5,000만 유로를 초과하면 동일한 보고서를 작성해야 합니다. 이 보고서는 상업 등기소에 제출되어야 하지만, 슬로바키아에만 납세 의무가 있거나 은행법에 따라 연례 보고서를 공시하는 기업은 제외됩니다. 감사인은 감사 보고서에 해당 소득세 정보 보고서 관련 내용을 포함해야 합니다. 또한, 35,000유로 이상의 세금 납부액을 배분받은 법인은 감사 보고서를 의무적으로 제출해야 합니다.
**조세 분야의 국제 지원 및 협력에 관한 법률**
디지털 플랫폼 규제(DAC7)에 따라 에어비앤비, 우버와 같은 플랫폼 사업자는 2023년 1월부터 별도의 요청 없이 고객 정보를 의무적으로 과세 당국에 보고해야 합니다. 보고는 매년 이루어지며, 2023년도에 대한 첫 보고는 2024년 1월 31일까지 완료되어야 합니다.
**상법**
상법 개정을 통해 회사의 과반수 지분 이전 효력 발생 시점이 변경되어, 과반수 지분과 소수 지분 이전 간의 법적 구분이 사라집니다. 이제 등기부 기재는 이미 발생한 법적 상태를 확인하는 역할만 합니다. 지분 양도인 또는 양수인이 세금 체납자 명단에 있는 경우 과반수 지분 이전에 필요했던 세무 당국의 동의서 제출 의무가 폐지됩니다.
**최저임금법**
2023년 1월 1일부터 최저임금은 월 700유로 또는 시간당 4.023유로로 설정됩니다.
**여비 규정법**
2023년 1월 1일부터 출장 시 식대 수당이 인상되어, 근무 시간에 따라 5~12시간은 6.80유로, 12~18시간은 10.10유로, 18시간 초과는 15.30유로가 지급됩니다. 식권의 최저 금액은 5.10유로입니다.
The Ministry of Economy of the Slovak Republic announced a new call for energy subsidies on February 21, 2023, to mitigate the impact of increased gas and electricity prices. Eligible recipients inclu
슬로바키아 경제부는 급등한 가스 및 전기 요금 부담을 완화하기 위한 새로운 에너지 보조금 지원 계획을 발표했습니다. (2023년 2월 21일)
**지원 대상** 법적 형태, 자금 조달 방식, 규모와 관계없이 시장에 상품이나 서비스를 제공하는 모든 사업체
**지원 내용** * **적용 기간:** 2023년 1월 1일부터 3월 31일까지 사용한 에너지
The Ministry of Economy of the Slovak Republic announced a new call for energy subsidies on February 21, 2023, to mitigate the impact of increased gas and electricity prices. Eligible recipients include any business or entity engaged in economic activity, regardless of legal status, funding, or size, where economic activity is defined as offering goods and services on the market. The subsidy application period covers January 1, 2023, to March 31, 2023.
Eligible costs for determining the subsidy amount are calculated by multiplying the amount of natural gas and/or electricity (in MWh) consumed by the applicant during the eligible period by the increase in price paid per unit (EUR/MWh). However, natural gas and/or electricity used for electricity and heat production are not eligible.
The subsidy calculation formulas are: Electricity Subsidy = Consumption in MWh x (Average price per MWh in EUR – 199) x 0.8; Gas Subsidy = Consumption in MWh x (Average price per MWh in EUR – 99) x 0.8.
Subsidies can cover up to 80% of eligible costs, with a maximum of EUR 200,000 per month per enterprise, not per individual company ID. Applicants must disclose all entities forming part of the same economic unit.
Applications must be submitted electronically via a form on the Central Government Portal. Gas and electricity consumption can be found using the POD or EIC code on the invoices. The application deadline is June 30, 2023, and the allocated budget is EUR 279,820,623. The Ministry may amend the call until its closure.
슬로바키아 경제부는 급등한 가스 및 전기 요금 부담을 완화하기 위한 새로운 에너지 보조금 지원 계획을 발표했습니다. (2023년 2월 21일)
**지원 대상** 법적 형태, 자금 조달 방식, 규모와 관계없이 시장에 상품이나 서비스를 제공하는 모든 사업체
**지원 내용** * **적용 기간:** 2023년 1월 1일부터 3월 31일까지 사용한 에너지 * **지원 비용 산정:** 해당 기간에 사용한 에너지(MWh)와 인상된 단가(EUR/MWh)를 곱하여 산정된 '적격 비용'을 기준으로 합니다. 단, 전기 및 열 생산에 사용된 가스 및 전기는 지원 대상에서 제외됩니다. * **보조금 계산식:** * 전기 보조금 = 사용량(MWh) x (MWh당 평균 구매 단가(EUR) - 199) x 0.8 * 가스 보조금 = 사용량(MWh) x (MWh당 평균 구매 단가(EUR) - 99) x 0.8 * **지원 한도:** * 적격 비용의 최대 80%까지 지원 * 기업당 월 최대 20만 유로 (이때 '기업'이란 개별 사업자등록번호가 아닌, 동일한 경제 공동체에 속한 모든 관계사를 포함하는 단위)
**신청 방법** * **신청 마감:** 2023년 6월 30일 * **신청 절차:** 중앙 정부 포털 사이트에서 온라인 양식을 작성하여 제출 * **필요 정보:** 전기 및 가스 사용량은 요금 고지서에 있는 POD 또는 EIC 코드를 통해 확인할 수 있습니다.
**기타** * **총예산:** 279,820,623 유로 * **주의사항:** 공고 마감 전까지 지원 내용이 변경될 수 있습니다.
Overview of the Most Important Changes Regarding Transfer Pricing
移転価格における主な変更点の概要
转让定价最重要变更概述
이전가격 관련 주요 변경사항
13.02.2023
The recent amendment to the Income Tax Act in Slovakia introduces several significant changes to transfer pricing, effective from January 1, 2023. Accompanying this is an updated Guideline from the Mi
2023년 1월 1일부터 시행된 슬로바키아의 소득세법 개정으로 이전가격세제에 몇 가지 중요한 변화가 생겼습니다. 이와 함께 재무부는 이전가격 문서의 내용과 범위를 명확히 하는 새로운 가이드라인을 발표했습니다.
주요 변경 내용은 다음과 같습니다. 먼저 소액 거래의 행정 부담을 줄이기 위해 '중요 특수관계자 거래'의 기준 금액이 10,000유로로 새롭게 설정
The recent amendment to the Income Tax Act in Slovakia introduces several significant changes to transfer pricing, effective from January 1, 2023. Accompanying this is an updated Guideline from the Ministry of Finance, defining the content and scope of transfer pricing documentation.
Key changes include a new definition of a "significant controlled transaction," set at €10,000, aiming to reduce administrative burden for low-value transactions. The tax authorities will use the median of independent comparable values if pricing is inconsistent with the arm's length principle, although taxpayers can argue for adjustments within the independent range. The definition of related parties is expanded to include close relatives and their shareholdings, aggregating to at least 25%.
The OECD Transfer Pricing Guidelines are now formally incorporated into Slovak law, bolstering legal certainty. Bilateral and multilateral Advance Pricing Agreements (APAs) can now extend beyond five tax periods, subject to agreement between treaty states. Taxpayers can submit transfer pricing documentation in any foreign language, with tax authorities retaining the right to request Slovak translations within 15 days.
The amendment also adjusts the determination of taxable income for permanent establishments of non-residents in Slovakia, aligning with OECD principles, particularly regarding expenses demonstrably incurred. Foreign taxpayers can assess the tax base as the difference between income and expenses attributable to the permanent establishment, not solely on a cash basis.
The updated Guideline incorporates the concept of "significant controlled transactions," reducing the number of taxpayers required to prepare transfer pricing documentation, especially in simplified form. Documentation is not required for insignificant transactions (under €10,000) if the taxpayer doesn't report a tax loss, doesn't apply a tax loss deduction, or applies a 15% tax rate. Full tax return filings suffice for documentation in these cases. Increased documentation requirements persist for those claiming tax relief, transacting with related parties in non-cooperative states, or seeking APAs. The guideline is applicable for tax periods starting after December 31, 2022.
2023년 1월 1일부터 시행된 슬로바키아의 소득세법 개정으로 이전가격세제에 몇 가지 중요한 변화가 생겼습니다. 이와 함께 재무부는 이전가격 문서의 내용과 범위를 명확히 하는 새로운 가이드라인을 발표했습니다.
주요 변경 내용은 다음과 같습니다. 먼저 소액 거래의 행정 부담을 줄이기 위해 '중요 특수관계자 거래'의 기준 금액이 10,000유로로 새롭게 설정되었습니다. 또한, 거래 가격이 독립적인 제3자 간의 가격 원칙(정상가격 원칙)에 부합하지 않을 경우, 세무 당국은 비교 가능한 독립 기업 간 거래 가격의 중앙값을 적용하게 됩니다. 다만 납세자는 독립적인 가격 범위 내에서 다른 가격을 적용해야 하는 합리적인 이유를 제시할 수 있습니다. 특수관계자의 범위는 직계 가족 및 그들의 지분을 포함하도록 확대되었으며, 합산 지분율이 25% 이상일 경우 특수관계자로 간주됩니다.
OECD 이전가격 가이드라인이 슬로바키아 법에 공식적으로 통합되어 법적 확실성이 강화되었습니다. 조약 상대국과의 합의가 있다면, 양자 및 다자간 정상가격 사전합의(APA)의 적용 기간을 5년을 초과하여 연장할 수 있게 되었습니다. 이전가격 문서는 외국어로도 제출할 수 있지만, 세무 당국은 15일 이내에 슬로바키아어 번역본을 요청할 권한을 가집니다.
이번 개정안은 비거주자의 슬로바키아 내 고정사업장 과세소득 결정 방식도 조정했습니다. OECD 원칙에 따라, 특히 명백하게 발생한 비용에 대한 처리 기준이 명확해졌습니다. 이에 따라 외국 납세자는 현금주의 방식만이 아닌, 고정사업장에 귀속되는 소득과 비용의 차액으로 과세표준을 산정할 수 있습니다.
개정된 가이드라인은 '중요 특수관계자 거래' 개념을 도입하여, 이전가격 문서 제출 의무가 있는 납세자의 수를 줄였습니다. 거래 금액이 10,000유로 미만인 경우, ▲세무상 결손을 신고하지 않고, ▲결손금 공제를 신청하지 않으며, ▲15%의 낮은 세율을 적용받는 납세자는 문서를 제출할 필요가 없습니다. 이 경우 일반적인 세금 신고로 문서 제출을 대체할 수 있습니다. 하지만 세금 감면을 신청하거나, 비협조적 국가의 특수관계자와 거래하거나, 정상가격 사전합의(APA)를 신청하는 경우에는 강화된 문서 제출 의무가 유지됩니다. 이 가이드라인은 2022년 12월 31일 이후 시작되는 과세 기간부터 적용됩니다.
Does the amendment to the law on social economy and social enterprises move family businesses in the right direction?
社会的経済及び社会的企業に関する法律の改正は、家族経営企業を正しい方向へと導くのか?
《社会经济与社会企业法》修正案是否为家族企业指明了正确的发展方向?
사회적 경제 및 사회적 기업 관련 법 개정은 가족 기업을 바람직한 방향으로 이끄는가?
24.01.2023
According to the Ministry of Labour, Social Affairs and Family of the Slovak Republic, the amendment aims to "strengthen and support a favorable environment for the development of social entrepreneurs
슬로바키아 노동사회부가족부에 따르면, 이번 개정안은 "사회적 기업가 정신이 발전할 수 있도록 우호적인 환경을 강화하고 지원하는 것"을 목표로 합니다. 또한 가족의 유대, 가치, 전통 보존을 강조하며 가족기업에 대한 정의를 새롭게 도입했습니다.
사회적 경제 및 기업에 관한 법률 개정안은 슬로바키아 최초로 가족기업에 대한 법적 정의를 도입했습니다. 이에 따르
According to the Ministry of Labour, Social Affairs and Family of the Slovak Republic, the amendment aims to "strengthen and support a favorable environment for the development of social entrepreneurship." It also introduces a definition of family businesses, emphasizing the preservation of family ties, values, and traditions.
The amendment to the Act on Social Economy and Social Enterprises introduces the first legislative definition of a family business in Slovakia: a business company, cooperative, or natural person – entrepreneur, provided it meets specific legal conditions, particularly the existence of ties between several family members and the business.
The law specifies three types of family businesses: Registered Family Business, Recorded Family Business and Family Farm.
A Recorded Family Business is entitled to use the designation "family business" or the abbreviation "r. p." in writing and can apply to have the designation "family business" entered in the Commercial Register.
A Registered Family Business is obliged to use at least 12% of its profit after tax to strengthen its internal and external relations within one year from the date of approval of the financial statements showing a positive result for the accounting period, primarily for education, pension provision, recreation, healthcare, and social assistance for family members and employees. They are required to use the designation "registered family business" or the abbreviation "r. r. p." in writing, also to register the designation “registered family business” into the Commercial Register. Failure to fulfill these obligations may result in fines.
While the effort to define family business concepts is positive, the amended law lacks specific forms of support for family businesses, attempting to align them with social enterprises. While preserving family ties is important, family businesses are primarily about profit. The amendment is perceived as more "family" than "business." Family businesses need assistance in succession planning, inheritance law reform, tax benefits, preferential employment conditions for family members, and easier access to financing. Defining family businesses in other laws, such as those concerning income tax and commercial and civil codes, is considered more important.
一方、「登録家族経営企業」は、利益が出た年度の決算承認から1年以内に、税引後利益の12%以上を社内外の関係強化のために使うことが義務付けられています。主な用途は、家族や従業員の教育、年金、福利厚生、医療、社会扶助などです。この企業は、「登録家族経営企業」またはその略称「r. r. p.」という名称の使用と、商業登記簿への登録が義務付けられます。これらの義務を怠った場合、罰金が科される可能性があります。
슬로바키아 노동사회부가족부에 따르면, 이번 개정안은 "사회적 기업가 정신이 발전할 수 있도록 우호적인 환경을 강화하고 지원하는 것"을 목표로 합니다. 또한 가족의 유대, 가치, 전통 보존을 강조하며 가족기업에 대한 정의를 새롭게 도입했습니다.
사회적 경제 및 기업에 관한 법률 개정안은 슬로바키아 최초로 가족기업에 대한 법적 정의를 도입했습니다. 이에 따르면, 가족기업은 여러 가족 구성원과 사업 간의 유대 관계 등 특정 법적 요건을 충족하는 회사, 협동조합, 또는 개인 사업자를 의미합니다.
법률은 가족기업을 세 가지 유형으로 명시합니다: 등록 가족기업, 기록 가족기업, 가족농장.
기록 가족기업은 '가족기업'이라는 명칭이나 약어 'r. p.'를 사용할 권리를 가지며, 상업 등기부에 '가족기업' 명칭 등재를 신청할 수 있습니다.
등록 가족기업은 회계연도에 흑자를 기록한 재무제표 승인일로부터 1년 이내에 세후 이익의 최소 12%를 사용해야 할 의무가 있습니다. 이 금액은 주로 가족 구성원과 직원의 교육, 연금, 여가, 건강 관리, 사회 지원 등 내외부 관계를 강화하는 데 사용되어야 합니다. 또한, '등록 가족기업' 또는 약어 'r. r. p.'라는 명칭을 의무적으로 사용해야 하며, 이 명칭을 상업 등기부에 등록해야 합니다. 이러한 의무를 이행하지 않을 경우 벌금이 부과될 수 있습니다.
가족기업의 개념을 정의하려는 노력은 긍정적이지만, 개정된 법은 가족기업을 사회적 기업과 동일시하려 할 뿐, 구체적인 지원책은 부족합니다. 가족 간의 유대를 지키는 것도 중요하지만, 가족기업의 본질은 이윤 창출에 있습니다. 따라서 이번 개정안은 '기업'보다는 '가족'에 더 치우쳐 있다는 평가를 받습니다. 실질적으로 가족기업에 필요한 지원은 승계 계획, 상속법 개정, 세금 혜택, 가족 구성원 고용 우대, 금융 접근성 확대 등입니다. 이 때문에 소득세법, 상법, 민법 등 다른 법률에서 가족기업을 정의하는 것이 더 시급한 과제로 여겨집니다.
The Slovak Ministry of Labor, Social Affairs, and Family announced new minimum wage levels effective January 1, 2023. The monthly minimum wage is set at €700, and the hourly minimum wage is €4.023. Th
슬로바키아 노동사회복지부가 2023년 1월 1일부터 적용되는 새로운 최저임금 기준을 발표했습니다. 월 최저임금은 700유로, 시간당 최저임금은 4.023유로로 책정되었습니다. 비과세 기본 공제액(410.24유로)을 적용하고 자녀 세액 공제를 제외한 최저임금 실수령액은 568.97유로입니다.
근로자가 부담하는 사회보험료, 건강보험료, 소득세는 2022년에
The Slovak Ministry of Labor, Social Affairs, and Family announced new minimum wage levels effective January 1, 2023. The monthly minimum wage is set at €700, and the hourly minimum wage is €4.023. The net minimum wage will be €568.97, considering a non-taxable base of €410.24 and excluding child tax credits.
Employee contributions to social and health insurance, along with income tax, have increased compared to 2022. The total labor cost for an employer for an employee earning the minimum wage will be €946.40 in 2023.
The minimum monthly wage also varies based on the job's difficulty level, as defined by the Labor Code, ranging from €700 to €1,280. Hourly minimum wages also differ based on the shift schedule, with single-shift workers earning €4.023, two-shift workers earning €4.153, and three-shift workers earning €4.291 per hour. Furthermore, wage bonuses for weekend, night, and holiday work have also increased, with specific amounts provided for each type of bonus. Reduced bonuses can be agreed upon for regularly performed work.
슬로바키아 노동사회복지부가 2023년 1월 1일부터 적용되는 새로운 최저임금 기준을 발표했습니다. 월 최저임금은 700유로, 시간당 최저임금은 4.023유로로 책정되었습니다. 비과세 기본 공제액(410.24유로)을 적용하고 자녀 세액 공제를 제외한 최저임금 실수령액은 568.97유로입니다.
근로자가 부담하는 사회보험료, 건강보험료, 소득세는 2022년에 비해 인상되었습니다. 이에 따라 2023년 최저임금 근로자 1인당 고용주가 부담해야 할 총비용은 946.40유로입니다.
월 최저임금은 노동법에 명시된 직무 난이도에 따라 700유로에서 1,280유로까지 차등 적용됩니다. 시간당 최저임금 또한 근무 형태에 따라 달라져, 단일 교대 근무자는 시급 4.023유로, 2교대 근무자는 4.153유로, 3교대 근무자는 4.291유로가 적용됩니다. 아울러 주말, 야간, 공휴일 근무 수당도 인상되었으며, 정기적으로 수행하는 업무의 경우 합의를 통해 수당을 일부 조정할 수 있습니다.
This year, we supported the "Osmidiv" benefit event for mentally disabled children, which took place on August 21, 2022, at the House of Culture in Banská Štiavnica. This was the 13th edition of the e
This year, we supported the "Osmidiv" benefit event for mentally disabled children, which took place on August 21, 2022, at the House of Culture in Banská Štiavnica. This was the 13th edition of the event, aimed at children from institutions and facilities for the disabled. The cultural program included performances by Václav Neckář & Bacily, the band Polemic, and the ABBA Tribute Show from Hungary, with Roman Pomajbo as the host. The educational portion of the program offered children opportunities to learn new skills such as Zumba dancing, face painting, encaustic painting (painting with hot wax), dowsing, coin minting, and decorating leather products. We are pleased to have contributed to the happiness and joy of those who need it most. Articles about the event are available online.
In summary, the "Osmidiv" benefit event, now in its 13th year, provided a day of entertainment and learning for mentally disabled children from various institutions. The event, held in Banská Štiavnica, featured musical performances, hosted by Roman Pomajbo, and interactive workshops teaching skills like dancing, painting, dowsing and crafts. The event aimed to bring joy and new experiences to the children. Multiple news outlets covered the event, highlighting its positive impact. The organizers were gratified to support this initiative and contribute to the well-being of the participating children.
저희는 2022년 8월 21일, 반스카 슈티아브니차 문화의 집에서 열린 정신 장애 아동을 위한 자선 행사 '오스미디브(Osmidiv)'를 후원했습니다. 올해로 13회를 맞이한 이 행사는 여러 보호시설의 아동들에게 즐거움과 새로운 경험을 선사하기 위해 기획되었습니다.
행사에서는 로만 포마이보(Roman Pomajbo)의 사회로 바츨라프 네츠카르 & 바칠리(Václav Neckář & Bacily), 밴드 폴레믹(Polemic), 헝가리 ABBA 트리뷰트 쇼 등 다채로운 문화 공연이 펼쳐졌습니다. 또한, 아이들이 줌바 댄스, 페이스 페인팅, 인카우스틱 페인팅(뜨거운 밀랍을 이용한 그림), 다우징, 동전 주조, 가죽 공예 등 새로운 기술을 배울 수 있는 체험 프로그램도 함께 진행되었습니다.
가장 도움이 필요한 아이들의 행복과 기쁨에 기여할 수 있어 매우 기쁘게 생각하며, 이번 행사는 여러 언론을 통해서도 긍정적으로 소개되었습니다. 관련 기사는 온라인에서 찾아보실 수 있습니다.
On December 1, 2022, the government approved significant aid for businesses struggling with rising energy prices. The state capped electricity prices at €199 per MW/h and gas prices at €99 per MW/h. B
2022년 12월 1일, 정부는 급등하는 에너지 가격으로 어려움을 겪는 기업들을 위한 지원책을 승인했습니다. 이는 기업 부문을 안정시키고 경제 전반을 지원하기 위함입니다.
정부는 전기 요금은 MWh당 199유로, 가스 요금은 MWh당 99유로로 상한을 설정합니다. 자격 요건을 충족하는 기업은 2022년 8월과 9월 사용분에 대해, 이 상한액을 초과하는 금
On December 1, 2022, the government approved significant aid for businesses struggling with rising energy prices. The state capped electricity prices at €199 per MW/h and gas prices at €99 per MW/h. Businesses meeting specified criteria are eligible to have 80% of the amount exceeding these limits reimbursed for August and September 2022. The government aims to stabilize the business sector and support the overall economy through this initiative.
Applications can only be submitted electronically via a form on www.energodotacie.mhsr.sk. The minimum grant amount is €50; applications for lower sums will be rejected. The maximum grant is €500,000, provided that the total aid does not exceed €500,000 per single economic entity. A guide to completing the application is available on the website. The application deadline is December 22, 2022.
Eligibility criteria include not being in bankruptcy or restructuring, not being subject to previous recovery orders from the European Commission, not having a legally imposed ban on receiving subsidies, not being subject to EU sanctions related to Russia's aggression against Ukraine, and not operating in sectors targeted by EU sanctions.
The subsidy calculation formula for electricity is: Subsidy Amount = Consumption in MWh x (Average price per 1 MWh in EUR – 199) x 0.8. For gas, the formula is: Subsidy Amount = Consumption in MWh x (Average price per 1 MWh in EUR – 99) x 0.8.
补贴金额计算方式如下: 电费补贴 = 用电量 (MWh) x (每兆瓦时平均支付价格 - 199欧元) x 80% 天然气补贴 = 天然气用量 (MWh) x (每兆瓦时平均支付价格 - 99欧元) x 80%
2022년 12월 1일, 정부는 급등하는 에너지 가격으로 어려움을 겪는 기업들을 위한 지원책을 승인했습니다. 이는 기업 부문을 안정시키고 경제 전반을 지원하기 위함입니다.
정부는 전기 요금은 MWh당 199유로, 가스 요금은 MWh당 99유로로 상한을 설정합니다. 자격 요건을 충족하는 기업은 2022년 8월과 9월 사용분에 대해, 이 상한액을 초과하는 금액의 80%를 환급받을 수 있습니다.
**신청 안내** * **신청 방법:** www.energodotacie.mhsr.sk 웹사이트의 온라인 양식을 통해서만 신청할 수 있습니다. 자세한 작성 안내서는 웹사이트에서 확인 가능합니다. * **신청 마감:** 2022년 12월 22일 * **지원 금액:** * 최소 신청 금액은 50유로이며, 이보다 낮은 금액은 지원되지 않습니다. * 최대 지원금은 50만 유로이며, 단일 사업체당 총 지원금이 이 금액을 초과할 수 없습니다.
**신청 자격** 아래에 해당하지 않는 기업만 지원을 신청할 수 있습니다. * 파산 또는 구조조정 절차가 진행 중인 경우 * 유럽 위원회(EC)로부터 환수 명령을 받은 적이 있는 경우 * 법적으로 보조금 수령이 금지된 경우 * 러시아의 우크라이나 침공과 관련된 EU의 제재 대상인 경우 * EU의 제재 대상 산업 분야에서 사업을 운영하는 경우
**보조금 계산 방식** * **전기:** 보조금 = 총사용량(MWh) x (MWh당 평균 구매 단가(EUR) - 199) x 0.8 * **가스:** 보조금 = 총사용량(MWh) x (MWh당 평균 구매 단가(EUR) - 99) x 0.8
Who were the top taxpayers of 2021? How much tax did they pay to the state? How do companies perceive the tax and levy burden in Slovakia? According to Martin Kiňo, a partner, speaking to Trend.sk, mo
주자나 쿨로바(Zuzana Kullová)가 Trend.sk에 기고한 기사는 2021년 슬로바키아의 최고액 납세자들이 누구이며, 이들이 국가 재정에 얼마나 기여했는지 살펴봅니다. 또한 슬로바키아의 세금 및 부담금 제도에 대한 기업들의 인식을 다루고 있습니다. 파트너인 마틴 키노(Martin Kiňo)에 따르면, 대부분의 기업은 법인세를 체코와 비슷한 수준인
Who were the top taxpayers of 2021? How much tax did they pay to the state? How do companies perceive the tax and levy burden in Slovakia? According to Martin Kiňo, a partner, speaking to Trend.sk, most companies propose reducing corporate income tax by at least 2 percent to 19 percent, similar to the Czech Republic, and decreasing the levy burden by 5 to 10 percent. More information can be found in Zuzana Kullová's article on Trend.sk. The article discusses Matovič's plans for higher taxes and smaller profits, aiming for more money for the state, contrasting it with the desires of the top taxpayers of the year.
The article on Trend.sk explores the top taxpayers of 2021 in Slovakia, examining their financial contributions and perspectives on the country's tax and levy system. Companies are advocating for tax reductions, specifically lowering the corporate income tax to 19% to align with rates in the Czech Republic, and a 5-10% decrease in the levy burden. The discussion stems from Matovič's proposed tax increases aimed at boosting state revenue, a policy in direct contrast with the wishes of the leading taxpayers. The article, authored by Zuzana Kullová, delves into the potential implications of these conflicting viewpoints on the Slovakian economy.
주자나 쿨로바(Zuzana Kullová)가 Trend.sk에 기고한 기사는 2021년 슬로바키아의 최고액 납세자들이 누구이며, 이들이 국가 재정에 얼마나 기여했는지 살펴봅니다. 또한 슬로바키아의 세금 및 부담금 제도에 대한 기업들의 인식을 다루고 있습니다. 파트너인 마틴 키노(Martin Kiňo)에 따르면, 대부분의 기업은 법인세를 체코와 비슷한 수준인 19%로 낮추고, 기타 부담금도 5~10% 감면해 줄 것을 제안하고 있습니다. 이러한 기업들의 바람은 국가 재원 확충을 위해 증세를 계획했던 마토비치(Matovič) 전 총리의 정책과는 정면으로 대치됩니다. 이 기사는 이처럼 상충하는 두 관점이 슬로바키아 경제에 미칠 잠재적 영향을 심도 있게 분석합니다.
최적화할 수 있는 방법은 다양합니다. 하지만 세금 문제 앞에서는 기업들도 여전히 망설입니다.
18.11.2022
Why are companies still hesitant about tax optimization, even though they could save up to 50 percent on taxes with certain measures? Radovan Žuffa from Trend.sk discussed this topic with Martin Kiňo.
적절한 방법을 활용하면 세금을 최대 50%까지 절약할 수 있음에도, 왜 기업들은 여전히 절세를 망설일까요? Trend.sk는 Martin Kiňo와의 인터뷰를 통해 기업들이 절세에 적극적이지 않은 이유를 살펴보고, 기업이 활용할 수 있는 다양한 절세 전략에 대해 심도 있게 논의합니다. 기업이 활용할 수 있는 구체적인 절세 방안은 기사 원문에서 확인하실 수
Why are companies still hesitant about tax optimization, even though they could save up to 50 percent on taxes with certain measures? Radovan Žuffa from Trend.sk discussed this topic with Martin Kiňo. Read about the options available to companies for tax optimization in the full article.
Companies hesitate on tax optimization despite potential savings of up to 50%, according to an interview on Trend.sk. The discussion, featuring Martin Kiňo, explores the reasons behind this hesitancy and delves into the various tax optimization strategies available to businesses. While the specific strategies are detailed in the linked article, the core question revolves around why companies are slow to adopt measures that could significantly reduce their tax burden.
적절한 방법을 활용하면 세금을 최대 50%까지 절약할 수 있음에도, 왜 기업들은 여전히 절세를 망설일까요? Trend.sk는 Martin Kiňo와의 인터뷰를 통해 기업들이 절세에 적극적이지 않은 이유를 살펴보고, 기업이 활용할 수 있는 다양한 절세 전략에 대해 심도 있게 논의합니다. 기업이 활용할 수 있는 구체적인 절세 방안은 기사 원문에서 확인하실 수 있습니다.
DIGITAL PLATFORMS AND REPORTING OBLIGATIONS UNDER DAC 7
DAC7に基づくデジタルプラットフォームの報告義務
DAC 7指令下的数字平台及其报告义务
DAC 7에 따른 디지털 플랫폼 및 보고 의무
15.11.2022
As of January 2023, a new amendment to Act No. 442/2012, implementing DAC 7, requires digital platforms to report information about their users to the Slovakian Financial Administration without being
2023년 1월부터 슬로바키아에서 새로운 법이 시행됨에 따라, 디지털 플랫폼 사업자는 이용자(판매자)의 정보를 세무 당국에 의무적으로 보고해야 합니다. 이는 플랫폼을 통해 발생한 소득에 대한 세금을 정확히 부과하기 위한 조치입니다. 여기서 디지털 플랫폼이란 상품 판매, 임대, 서비스 제공 등을 중개하며 판매자와 구매자를 연결해 주는 모든 종류의 소프트웨어나
As of January 2023, a new amendment to Act No. 442/2012, implementing DAC 7, requires digital platforms to report information about their users to the Slovakian Financial Administration without being prompted. This targets income earned through these platforms, ensuring proper tax compliance. Digital platforms are defined as any software or electronic interface connecting sellers and buyers, including those facilitating sales, rentals, or service provisions.
The reporting requirements apply to both platform operators established and not established in Slovakia, with specific criteria defining each. Operators must report data, including identifying information and details on sellers' activities, such as income and financial account identifiers. The first reporting period is the 2023 calendar year, with information due by January 31, 2024. Exceptions exist for operators who have already reported information through another platform. Operators must also notify authorities of their chosen reporting member state and register if not established in any member state.
The law outlines verification procedures for collecting information on sellers and imposes penalties for non-compliance. Fines range from €3,000 for failing to report, €5,000 for failing to register, and up to €10,000 for non-compliance with information reporting and verification procedures. Repeated offenses after warnings can result in further penalties. Platform operators must assess their obligations and prepare for compliance to avoid sanctions, potentially implementing processes in advance.
2023년 1월부터 슬로바키아에서 새로운 법이 시행됨에 따라, 디지털 플랫폼 사업자는 이용자(판매자)의 정보를 세무 당국에 의무적으로 보고해야 합니다. 이는 플랫폼을 통해 발생한 소득에 대한 세금을 정확히 부과하기 위한 조치입니다. 여기서 디지털 플랫폼이란 상품 판매, 임대, 서비스 제공 등을 중개하며 판매자와 구매자를 연결해 주는 모든 종류의 소프트웨어나 전자 인터페이스를 의미합니다.
이 보고 의무는 슬로바키아에 사업장이 있는지 여부와 관계없이 모든 플랫폼 사업자에게 적용됩니다. 사업자는 판매자의 신원 정보, 플랫폼을 통한 소득, 사용된 은행 계좌 정보 등 활동 내역에 관한 자료를 제출해야 합니다. 첫 보고 대상 기간은 2023년이며, 관련 정보는 2024년 1월 31일까지 제출되어야 합니다. 만약 다른 플랫폼을 통해 이미 동일한 정보를 보고한 경우 예외가 적용될 수 있습니다. 또한 사업자는 어느 국가에 정보를 보고할지 당국에 알려야 하며, 특정 국가에 소속되지 않은 경우 별도로 등록해야 합니다.
이 법은 판매자 정보 수집을 위한 검증 절차를 명시하고 있으며, 이를 준수하지 않을 경우 벌금이 부과됩니다. 예를 들어, 보고 의무를 위반하면 3,000유로, 사업자 등록을 하지 않으면 5,000유로, 정보 보고 및 검증 절차를 제대로 따르지 않으면 최대 10,000유로의 벌금을 물게 됩니다. 경고를 받은 후에도 위반 행위가 반복되면 추가적인 제재를 받을 수 있습니다. 따라서 플랫폼 사업자는 제재를 피하기 위해 자신에게 부과된 의무 사항을 명확히 파악하고, 필요한 절차를 미리 마련하여 법규를 준수할 준비를 해야 합니다.
Changes to the Commercial Code in accordance with the amendment to the law on resolving imminent bankruptcy
倒産法改正に伴う商法の改正
依据《处理临近破产法》修正案对《商法典》作出的修订
도산법 개정에 따른 상법 개정
20.10.2022
The amendment to Act No. 111/2022 on managing imminent bankruptcy, effective from July 17, 2022, introduces changes to the Commercial Code regarding the transfer of business shares.
2022년 7월 17일부터 시행된 '임박한 파산 관리법(Act No. 111/2022)' 개정안에 따라, 상법상 회사 지분 양도 관련 규정이 변경되었습니다.
기존에는 과반수 지분을 양도할 경우 상업 등기부에 등기한 날부터 효력이 발생했습니다. 하지만 이번 개정으로 과반수와 소수 지분의 구분이 없어졌으며, 이제 지분 양도 계약서에 별도의 날짜가 명시되지 않
The amendment to Act No. 111/2022 on managing imminent bankruptcy, effective from July 17, 2022, introduces changes to the Commercial Code regarding the transfer of business shares.
Previously, the effective date of a majority business share transfer was the date of registration in the Commercial Register. The amendment removes the distinction between majority and minority shares, making the effective date the date the company receives the transfer agreement, unless the agreement specifies a later date, but not before shareholder approval if required. Registration now serves as a confirmation of an existing legal status, simplifying the transfer process, reducing administrative burden for businesses and the registry court, and increasing legal certainty.
Furthermore, the requirement to obtain tax administrator consent for transferring majority shares when the transferor or transferee is on the list of tax debtors has been eliminated. This obligation to verify tax arrears and submit consent or an affidavit for foreign entities is no longer necessary for transfers after July 17, 2022.
However, the obligation to submit tax administrator consent or an affidavit remains when establishing a limited liability company if the founder is on the list of tax debtors. The change only affects business share transfers.
2022년 7월 17일부터 시행된 '임박한 파산 관리법(Act No. 111/2022)' 개정안에 따라, 상법상 회사 지분 양도 관련 규정이 변경되었습니다.
기존에는 과반수 지분을 양도할 경우 상업 등기부에 등기한 날부터 효력이 발생했습니다. 하지만 이번 개정으로 과반수와 소수 지분의 구분이 없어졌으며, 이제 지분 양도 계약서에 별도의 날짜가 명시되지 않는 한 회사가 그 계약서를 접수한 날부터 효력이 발생합니다. 단, 주주총회 승인이 필요한 경우에는 승인 이후여야 합니다. 이에 따라 등기 절차는 이미 발생한 법적 효력을 확인하는 역할만 하게 되어, 지분 양도 절차가 간소화되고 기업과 등기소의 행정 부담이 줄었으며 법적 안정성도 높아졌습니다.
또한, 지분을 넘기는 사람이나 받는 사람이 국세 체납자 명단에 있더라도 과반수 지분 양도를 위해 세무 당국의 동의서를 받아야 했던 의무가 폐지되었습니다. 따라서 2022년 7월 17일 이후의 지분 양도 시에는 체납 사실을 확인하거나, 해외 법인의 경우 관련 동의서 또는 진술서를 제출할 필요가 없습니다.
다만, 유한책임회사를 설립할 때 설립자가 국세 체납자 명단에 올라 있다면 기존과 같이 세무 당국의 동의서나 진술서를 제출해야 합니다. 이번 변경 사항은 회사 지분 양도에만 한정됩니다.
귀사의 사업은 코로나19 팬데믹의 영향을 받았나요? 이는 이전가격 산정에도 영향을 미칠 수 있습니다.
팬데믹 기간 동안 기업들은 수익과 현금 흐름의 변동을 겪거나 사업장 폐쇄에 직면했습니다. 반면, 일부 산업 및 기업은 오히려 크게 성장하기도 했습니다. 많은 국가에서는 자국 경제를 보호하고 고용을 유지하기 위해 기업에 보조금을 지급하는 등 시장에 개입했습
Was your business affected by the COVID-19 pandemic? This may also impact your transfer pricing.
Companies experienced fluctuations in revenues and cash flows during the pandemic and faced forced closures. Conversely, some segments and companies significantly strengthened. Many countries intervened and provided subsidies to domestic firms to protect local economies and maintain jobs. Independent companies and businesses in the market responded to the new economic conditions in various ways. Companies re-evaluated their existing business strategies and contractual arrangements with third parties. Economic entities faced and continue to face new types of risks.
All these changes also affect the comparison of prices and profitability of transactions with related parties. The OECD has therefore issued guidance on the impact of the Covid-19 pandemic on transfer pricing, addressing, for example, the comparability of data for comparability analysis purposes, as well as the potential impact of government support programs on transfer prices.
The issue of transfer pricing is becoming even more complex, so the correct application of the guidance can be crucial for companies. Some practical conclusions can be drawn from them, likely applicable to your company as well.
If the industry in which you operate was affected by the pandemic, it may require an update of the comparability analysis or quantification of the impact of the pandemic.
If you have received a state subsidy, taxpayers should conduct an analysis to determine the impact of state aid programs on their operations and their market and adjust their transfer pricing accordingly.
If your group or company faced significant losses and new risks, then it is necessary to update the functional and risk profile and consider the allocation of losses or specific costs within the group of companies.
The Financial Administration is paying more attention to transfer prices during tax audits.
The Financial Administration pointed out that the Office for Selected Economic Entities (ÚVHS) will ask 889 taxpayers to voluntarily complete a simple questionnaire focused on transactions they carried out with related parties for the tax period of the calendar year 2020, or for a tax period other than the calendar year ending in 2020. The Financial Administration expects that the analysis of the data will allow it to more effectively combat tax evasion and possible tax fraud. The data obtained will also be used to assess the need for legislative and non-legislative changes in the area of transfer pricing and their possible impacts.
ÚVHS is one of the institutions of the Financial Administration, which was established in 2019 by transforming the Tax Office for Selected Tax Subjects. Its remit includes: banks or branches of foreign banks, insurance and reinsurance companies and branches of foreign insurance and reinsurance companies, securities dealers, pension management companies or supplementary pension companies, payment institutions, entities with the status of approved economic entity, taxpayers who have achieved an annual turnover of EUR 40 million or more for each of two consecutive tax periods.
This growing trend can also be observed based on statistical data on tax audits from the Financial Administration Open Data portal. In 2021, a total of 46 tax audits focused on transfer pricing in international taxation were completed, of which more than 75% ended with a finding (35). The total amount of the finding (in EUR) in 2021 exceeded EUR 46 million, which represents an average finding of more than EUR 1.3 million per completed tax audit.
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If you have more questions or need advice in the area of transfer pricing, please contact us at any time. We have an experienced team of experts focusing on transfer pricing and transactions with related parties.
Offered services in the area of transfer pricing:
Comprehensive setting of the methodology in the area of transfer pricing as well as its approval with foreign tax advisors
Preparation of transfer documentation in the required scope as well as related defense of price setting in the group
Preparation of comparability analysis using external databases (e.g. TP Catalyst, Royalty Range) as well as internal client data
Preparation of opinions and ad hoc advice in the area of transfer pricing
Revision/update of existing transfer documentation
Representation of clients during tax audits with a focus on transfer pricing
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The COVID-19 pandemic significantly impacted businesses, affecting revenues, cash flows, and prompting operational adjustments. The OECD issued guidance addressing how the pandemic affects transfer pricing, particularly concerning data comparability and government support. Companies should update comparability analyses, quantify the pandemic's impact, and analyze state aid effects on operations and transfer pricing. Updating functional and risk profiles and considering loss allocation within groups is essential, especially when facing significant losses or new risks. Slovakian Financial Administration increases scrutiny on transfer pricing, focusing on potential tax evasion. They are surveying taxpayers regarding transactions with related parties. Audits related to transfer pricing are on the rise, with substantial tax findings. Businesses should seek expert advice, with offered services include transfer pricing methodology setup, documentation, comparability analysis, and representation during tax audits.
귀사의 사업은 코로나19 팬데믹의 영향을 받았나요? 이는 이전가격 산정에도 영향을 미칠 수 있습니다.
팬데믹 기간 동안 기업들은 수익과 현금 흐름의 변동을 겪거나 사업장 폐쇄에 직면했습니다. 반면, 일부 산업 및 기업은 오히려 크게 성장하기도 했습니다. 많은 국가에서는 자국 경제를 보호하고 고용을 유지하기 위해 기업에 보조금을 지급하는 등 시장에 개입했습니다. 이러한 새로운 경제 상황에 대응하여 기업들은 기존 사업 전략과 제3자와의 계약 관계를 재검토했으며, 이전에는 없던 새로운 유형의 위험에 직면하게 되었습니다.
이러한 모든 변화는 특수관계자와의 거래 가격 및 수익성을 분석하는 과정에도 영향을 미칩니다. 이에 OECD는 이전가격에 대한 코로나19 팬데믹의 영향 관련 지침을 발표했습니다. 이 지침은 비교가능성 분석을 위한 데이터 확보 문제, 정부 지원 프로그램이 이전가격에 미칠 수 있는 잠재적 영향 등의 내용을 다루고 있습니다.
이전가격 문제는 점점 더 복잡해지고 있으므로, 기업에게는 관련 지침을 정확히 적용하는 것이 매우 중요합니다. 이 지침들로부터 귀사에도 적용될 수 있는 몇 가지 실질적인 결론을 도출할 수 있습니다.
* **귀사가 속한 산업이 팬데믹의 영향을 받았다면,** 비교가능성 분석을 업데이트하거나 팬데믹으로 인한 영향을 수치로 정량화해야 할 수 있습니다.
* **정부 보조금을 받았다면,** 해당 지원 프로그램이 기업 운영 및 시장에 미친 영향을 분석하고, 그에 따라 이전가격을 조정해야 합니다.
* **그룹 또는 회사가 상당한 손실과 새로운 위험에 직면했다면,** 기능 및 위험 프로파일을 업데이트하고 그룹 내에서 손실 또는 특정 비용을 어떻게 배분할지 고려해야 합니다.
최근 과세당국은 세무조사 시 이전가격을 더욱 면밀히 검토하고 있습니다.
실제로 많은 국가의 과세당국은 특수관계자 거래에 대한 자료 제출을 납세자에게 요구하고 있으며, 수집된 데이터를 분석하여 잠재적인 조세 회피 및 탈루를 방지하는 데 활용하고 있습니다. 또한, 이 데이터는 이전가격 관련 법규 및 제도의 변경 필요성과 그 영향을 평가하는 데 사용될 것입니다.
이러한 경향은 세무조사 관련 통계 자료를 통해서도 확인할 수 있습니다. 이전가격 관련 세무조사 건수는 증가하는 추세이며, 조사 결과 적발되는 추징 세액 또한 상당한 규모에 이르는 것으로 나타났습니다.
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이전가격 분야에 대해 더 궁금한 점이 있거나 자문이 필요하시면 언제든지 문의해 주십시오. 저희는 이전가격 및 특수관계자 거래를 전문으로 다루는 경험 많은 전문가 팀을 보유하고 있습니다.
**이전가격 관련 제공 서비스:**
* 이전가격 방법론의 포괄적인 수립 및 해외 조세 전문가와의 검토 * 요구되는 범위의 이전가격 문서 작성 및 그룹 내 가격 설정 방어 * 외부 데이터베이스(예: TP Catalyst, Royalty Range) 및 내부 고객 데이터를 활용한 비교가능성 분석 수행 * 이전가격 분야에 대한 의견서 작성 및 수시 자문 * 기존 이전가격 문서의 검토 및 업데이트 * 이전가격 관련 세무조사 대리
A Rational Approach is Needed When Involving Relatives in Business (Part 5)
親族の事業参加に必要な合理的アプローチ(その5)
亲戚经商的理性之道(五)
친인척의 사업 참여, 합리적 접근이 필요하다 (5)
17.10.2022
Employing family members is a key aspect of generational transitions in family businesses, often influenced by emotions. While having relatives on the payroll can be beneficial with a well-defined sys
가족 기업에서 세대 교체의 핵심은 가족을 고용하는 것이며, 이 과정에는 종종 감정적인 요인이 개입됩니다. 체계적인 시스템과 돈독한 가족 관계가 뒷받침된다면 가족 고용은 이점이 될 수 있지만, 반대로 부담으로 작용할 수도 있습니다. 가족 관계와 업무 관계는 작동 원리가 다르므로 명확히 구분해야 하며, 가족인 직원의 잘못을 일반 직원과 다르게 대하는 것은 반드
Employing family members is a key aspect of generational transitions in family businesses, often influenced by emotions. While having relatives on the payroll can be beneficial with a well-defined system and strong family relationships, it can also be a burden. It's crucial to differentiate between family and work relationships, as they operate on different principles. Treating a family member's misconduct differently than an employee's is essential.
Founders must avoid letting familial devotion overshadow rational business decisions, such as prematurely granting high positions to inexperienced relatives. For the business's sake, founders must detach from family ties while remaining open to changes brought by the new generation.
Recent legislative changes offer some flexibility in employing relatives. From a tax perspective, the Ministry of Finance of the Slovak Republic issued guidelines stipulating that dependent activity is not generally considered a controlled transaction, regardless of whether it is performed by an employee, partner, or executive.
Also, relatives assisting in a family business without an employment contract may not pose a problem. Since 2020, relatives of the sole shareholder of a limited liability company are not considered illegal workers if they are pension insured, pensioners, or students under 26. As of 2023, this exception extends to limited liability companies with two shareholders if they are direct relatives, siblings, or spouses.
가족 기업에서 세대 교체의 핵심은 가족을 고용하는 것이며, 이 과정에는 종종 감정적인 요인이 개입됩니다. 체계적인 시스템과 돈독한 가족 관계가 뒷받침된다면 가족 고용은 이점이 될 수 있지만, 반대로 부담으로 작용할 수도 있습니다. 가족 관계와 업무 관계는 작동 원리가 다르므로 명확히 구분해야 하며, 가족인 직원의 잘못을 일반 직원과 다르게 대하는 것은 반드시 피해야 합니다.
창업자는 가족에 대한 애정이 합리적인 경영 판단을 흐리게 해서는 안 됩니다. 예를 들어, 경험이 부족한 가족에게 섣불리 높은 직책을 주는 것과 같은 결정을 피해야 합니다. 회사의 미래를 위해 창업자는 사적인 관계에서 한 걸음 물러서서 새로운 세대가 가져올 변화에 열린 자세를 가져야 합니다.
최근 법 개정으로 가족 고용에 대한 유연성이 일부 허용되었습니다. 세금 관점에서 볼 때, 슬로바키아 재무부는 직원, 파트너, 임원 등 직책과 관계없이 가족 간의 고용 관계를 일반적으로 특수관계자 간 거래로 보지 않는다는 지침을 발표했습니다.
또한, 고용 계약 없이 가족 사업을 돕는 것도 특정 조건 하에서는 문제가 되지 않을 수 있습니다. 2020년부터 유한책임회사의 단독 주주인 경우, 그 친척이 연금 가입자, 연금 수급자, 또는 26세 미만 학생이라면 불법 고용으로 간주되지 않습니다. 2023년부터는 이 예외 조항이 주주 2명이 직계 가족, 형제 또는 부부인 유한책임회사까지 확대 적용됩니다.
Bill amending Act No. 595/2003 Coll. on Income Tax, as amended (part 3/3)
所得税法(2003年法律第595号、改正後)改正案(その3/3)
第595/2003号《所得税法》(经修订)修正案(第三部分,共三部分)
법률 제595/2003호 소득세법 일부개정법률안 (3/3)
12.10.2022
Effective January 1, 2024, an amendment to the Income Tax Act introduces a new rule limiting interest expenses to combat artificial tax base reduction through excessive debt financing, transposing EU
2024년 1월 1일부터 새로운 소득세법 개정안이 시행됩니다. 이 개정안은 과도한 차입을 통한 조세 기반의 인위적인 축소를 방지하기 위해 이자 비용 공제 한도를 설정하는 새로운 규정(제17조k)을 도입하며, 이는 EU 지침을 반영한 것입니다.
기존에는 특수관계자에 대한 이자 비용만 제한되었으나(제21조a), 새로운 규정(제17조k)은 은행 이자를 포함한
Effective January 1, 2024, an amendment to the Income Tax Act introduces a new rule limiting interest expenses to combat artificial tax base reduction through excessive debt financing, transposing EU Directive 2016/1164. A new section, § 17k, addresses this.
Until 2023, Slovakia had an exception, limiting interest expense restrictions under § 21a to related parties only. The new § 17k applies to all interest expenses, including bank interest. If net interest expenses exceed €3,000,000, the tax base increases by the amount exceeding 30% of the tax base plus net interest expenses and depreciation (EBITDA). Net interest expenses are the difference between deductible interest expenses and taxable interest income.
Unlike § 21a, capitalized interest is included. § 21a clarifies that it doesn't apply to capitalized interest. A new paragraph stipulates that low capitalization rules (§ 21a) don't apply if the taxpayer increases the tax base under § 17k, prioritizing § 17k.
The rules apply to loan agreements concluded after December 31, 2023, including amendments to pre-existing agreements. § 21a applies only to interest paid to dependent person, irrespective of interest costs amount and calculates with account EBITDA, not including capitalized interest. § 17k applies to interest costs connected with all debts, regardless the creditor and the tax EBITDA is the calculation base, but includes capitalized interest. It´s applicable only above 3,000,000 EUR. § 17k allows to apply unused interest costs in next 5 tax periods.
2024년 1월 1일부터 새로운 소득세법 개정안이 시행됩니다. 이 개정안은 과도한 차입을 통한 조세 기반의 인위적인 축소를 방지하기 위해 이자 비용 공제 한도를 설정하는 새로운 규정(제17조k)을 도입하며, 이는 EU 지침을 반영한 것입니다.
기존에는 특수관계자에 대한 이자 비용만 제한되었으나(제21조a), 새로운 규정(제17조k)은 은행 이자를 포함한 모든 이자 비용에 적용됩니다. 순이자비용이 3백만 유로를 초과하는 경우, 세전·이자·감가상각 전 이익(EBITDA)의 30%를 초과하는 금액은 세법상 비용으로 인정되지 않습니다. 여기서 순이자비용은 지급한 총 이자 비용에서 수취한 이자 수익을 차감한 금액을 의미합니다.
특히 기존 규정(제21조a)과 달리, 자산으로 처리된 이자(자본화된 이자)도 이자 비용 계산에 포함됩니다. 만약 새로운 규정(제17조k)에 따라 이자 비용 공제가 제한되면, 기존의 과소자본세제 규정(제21조a)은 적용되지 않으며 새로운 규정이 우선합니다.
이 규정은 2023년 12월 31일 이후에 체결된 신규 대출 계약이나 기존 계약의 주요 변경 건부터 적용됩니다. 또한, 새로운 규정에 따라 당해 연도에 공제받지 못한 이자 비용은 향후 5년간 이월하여 공제받을 수 있습니다.
Bill amending Act No. 595/2003 Coll. on Income Tax, as amended (part 2/3)
所得税法(2003年法律第595号)の一部を改正する法律案(その2/3)
第595/2003号《所得税法》(经修订)修正案(三部分之二)
법률 제595/2003호 소득세법 일부 개정 법률안 (2/3)
10.10.2022
The amendment to the Income Tax Act addresses preventive restructuring as per Act No. 111/2022, enabling debtors facing insolvency to proactively implement restructuring measures. This involves creati
소득세법 개정안은 지급 불능 위기에 처한 채무자가 파산 전에 선제적으로 구조조정을 이행할 수 있도록 하는 '예방적 구조조정' 제도를 다룹니다. 이 제도는 채무 탕감을 포함한 구조조정 계획 수립을 골자로 합니다. 개정안에 따라, 법원이 예방적 구조조정 계획을 승인하고 일반 요건이 충족되면 채권자는 탕감해준 채무를 세금 신고 시 비용(손금)으로 인정받아 세금
The amendment to the Income Tax Act addresses preventive restructuring as per Act No. 111/2022, enabling debtors facing insolvency to proactively implement restructuring measures. This involves creating a plan that may include debt forgiveness. The amendment allows creditors to recognize the forgiven debt as a tax-deductible expense when a preventive restructuring plan is court-approved, provided general conditions are met. Debtors will proceed with standard debt write-off procedures.
Furthermore, the amendment allows for the inclusion of provisions for receivables from debtors in preventive restructuring proceedings as tax-deductible expenses, similar to standard restructuring. Full provision can be made up to the receivable's nominal value if it was included in taxable income.
The amendment also adapts to new international accounting standards for the insurance industry, specifically IFRS 17, which replaces IFRS 4. IFRS 17 changes how insurance contract liabilities are reported. Instead of technical reserves, insurers will report liabilities based on discounted cash flow. These costs will be tax-deductible in accordance with accounting practices. Adjustments to the tax base resulting from implementing IFRS 17 and IFRS 9 will be included in the tax base evenly, starting no earlier than January 1, 2023.
Finally, the amendment adjusts the tax bonus for dependent children following the July 1, 2022 change, allowing for a higher deduction by factoring in the income of both eligible individuals. This aggregation of income will first be applicable for the 2023 tax year. The law also modifies the income tax registration process for specific taxpayer types. Taxpayers will be registered ex officio based on data from public registers and a notice published by the Financial Directorate, starting January 1, 2023.
소득세법 개정안은 지급 불능 위기에 처한 채무자가 파산 전에 선제적으로 구조조정을 이행할 수 있도록 하는 '예방적 구조조정' 제도를 다룹니다. 이 제도는 채무 탕감을 포함한 구조조정 계획 수립을 골자로 합니다. 개정안에 따라, 법원이 예방적 구조조정 계획을 승인하고 일반 요건이 충족되면 채권자는 탕감해준 채무를 세금 신고 시 비용(손금)으로 인정받아 세금 부담을 줄일 수 있습니다. 채무자는 표준 절차에 따라 부채를 상각 처리하게 됩니다.
또한, 일반적인 구조조정 절차와 마찬가지로 예방적 구조조정 절차를 밟는 채무자에 대한 채권도 대손충당금 설정 대상에 포함되어 세법상 비용으로 인정받을 수 있습니다. 만약 해당 채권이 과거 과세 소득에 포함되었다면, 채권의 명목 가치 전액까지 대손충당금으로 설정할 수 있습니다.
이번 개정안은 보험 산업에 적용되는 새로운 국제회계기준(IFRS 17)의 도입을 반영합니다. IFRS 17은 기존의 책임준비금 방식 대신, 미래 현금흐름을 할인한 현재가치를 기준으로 보험 계약 부채를 평가하도록 규정합니다. 이렇게 회계상 인식된 비용은 세법상 비용으로도 인정됩니다. 새로운 회계기준(IFRS 17, IFRS 9) 도입으로 인해 발생하는 세무상 조정 금액은 2023년 1월 1일 이후부터 여러 해에 걸쳐 과세표준에 균등하게 반영될 것입니다.
마지막으로, 2022년 7월 1일자 변경 사항에 따라 부양 자녀에 대한 세액 공제 제도가 조정됩니다. 이제 부부 등 공제 대상자 2명의 소득을 합산하여 더 높은 세액 공제를 받을 수 있게 되며, 이 방식은 2023년 귀속 소득부터 처음 적용됩니다. 더불어 특정 유형의 납세자를 위한 소득세 등록 절차도 변경되어, 2023년 1월 1일부터는 공공 등록부의 정보를 바탕으로 과세 당국이 직권으로 납세자 등록을 처리하고 이를 고시하게 됩니다.
An external consultant is suitable for a family business, and can help resolve conflicts (part 4)
外部コンサルタントは家族経営に適しており、対立の解決にも役立つ(その4)
外部顾问有助于家族企业化解矛盾(四)
가족 기업의 갈등 해결, 외부 컨설턴트가 필요한 이유 (4부)
06.10.2022
The generational transfer in a family business is a lengthy process of handing over capital to successors. As the family grows, managing the business becomes more complex, shifting from individual lea
가족 기업의 세대 승계는 후계자에게 기업의 자산과 경영권을 넘겨주는 긴 과정입니다. 가족 구성원이 늘어날수록 창업주 개인의 리더십에서 가족 회의를 통한 공동 경영 체제로 바뀌면서 기업 관리는 더욱 복잡해집니다. 따라서 다음 세대로 갈수록 더 높은 수준의 경영 역량이 요구됩니다.
가족 기업은 가족 구성원이 직접 경영에 참여할지, 혹은 소유권만 갖고 경영은
The generational transfer in a family business is a lengthy process of handing over capital to successors. As the family grows, managing the business becomes more complex, shifting from individual leadership by the founder to collective management through a general meeting. This necessitates higher management standards that increase with each generation.
Family businesses face the choice of involving family members in management or limiting their roles to ownership, delegating management to external individuals. When employing family members, it's crucial that they meet the same standards as other employees without undue favoritism, to avoid disadvantages and maintain employee morale. Early consideration of the founder's descendants' education in the context of the business is advisable, although not mandatory, as strong family relationships are vital.
When appointing external individuals to key positions, the family should maintain independence. While fostering a family-like atmosphere for all employees is beneficial, external hires require similar oversight as in non-family businesses. These employees can still prioritize the family firm's interests if properly motivated. External managers must understand the unique dynamics of family businesses, which often operate differently than conventional companies, and adapt creatively to their specific characteristics.
Whether family members participate actively or remain in the background, hiring an external, impartial advisor is recommended. This advisor can provide unbiased opinions in conflicts between family members or between family and key external employees.
가족 기업의 세대 승계는 후계자에게 기업의 자산과 경영권을 넘겨주는 긴 과정입니다. 가족 구성원이 늘어날수록 창업주 개인의 리더십에서 가족 회의를 통한 공동 경영 체제로 바뀌면서 기업 관리는 더욱 복잡해집니다. 따라서 다음 세대로 갈수록 더 높은 수준의 경영 역량이 요구됩니다.
가족 기업은 가족 구성원이 직접 경영에 참여할지, 혹은 소유권만 갖고 경영은 외부 전문가에게 맡길지 선택해야 합니다. 가족을 직원으로 채용할 경우, 부당한 특혜 없이 다른 직원과 동일한 기준을 적용하는 것이 중요합니다. 이는 불필요한 불이익을 막고 직원들의 사기를 유지하기 위함입니다. 가장 중요한 것은 돈독한 가족 관계이지만, 창업주의 후손들이 장차 기업에 기여할 수 있도록 관련 교육을 미리 고려하는 것이 좋습니다.
외부 전문가를 주요 직책에 임명할 때, 가족은 경영의 독립성을 유지해야 합니다. 모든 직원에게 가족 같은 분위기를 만들어주는 것은 좋지만, 외부에서 영입된 인재는 일반 기업과 마찬가지로 객관적인 기준에 따라 관리해야 합니다. 적절한 동기 부여가 있다면 이들 역시 가족 기업의 이익을 최우선으로 생각하게 만들 수 있습니다. 외부 경영인은 일반 기업과 다른 가족 기업 특유의 문화를 이해하고, 그 특수성에 창의적으로 적응할 줄 알아야 합니다.
가족의 경영 참여 여부와 관계없이, 객관적인 시각을 가진 외부 조언가를 두는 것이 좋습니다. 이 조언가는 가족 간의 갈등이나 가족과 외부 핵심 인력 사이에 문제가 생겼을 때, 치우치지 않는 중립적인 의견을 제시해 줄 수 있습니다.
Bill amending Act No. 595/2003 Coll. on Income Tax, as amended
所得税法(2003年法律第595号)の一部を改正する法律案
关于修正《2003年第595号所得税法(经修订)》的法案
2003년 법률 제595호 소득세법 개정 법률안
05.10.2022
Currently, the Slovak National Council is discussing a draft law amending Act No. 595/2003 Coll. on Income Tax and Act No. 563/2009 Coll. on Tax Administration (Tax Code). The law takes effect in two
현재 슬로바키아 의회에서 소득세법 및 세법 개정안이 논의 중입니다. 이 법은 2023년 1월 1일과 2024년 1월 1일, 두 단계에 걸쳐 시행됩니다. 2023년 1월 1일부터 특수관계자, 이전가격, 고정사업장에 대한 규정이 일부 변경됩니다.
주요 변경 내용은 다음과 같습니다.
친족의 지분을 합산하여 경제적 연관성 기준인 25%를 충족하는 경우도 특수관
Currently, the Slovak National Council is discussing a draft law amending Act No. 595/2003 Coll. on Income Tax and Act No. 563/2009 Coll. on Tax Administration (Tax Code). The law takes effect in two stages: January 1, 2023, and January 1, 2024. Several amendments to the definition of related parties, transfer pricing rules, and the assessment of permanent establishments are introduced, effective from January 1, 2023.
The definition of related parties is expanded to include cases where close relatives' shares are combined to reach a 25% threshold for economic interconnection. The definition of economic connection is reformulated, specifically addressing relationships between permanent establishments and their founders. The definition of a controlled transaction is adjusted, excluding dependent activities where income falls under § 5 of the Income Tax Act, regardless of whether it's performed by an employee of a related party or a company executive.
Foreign taxpayers operating in Slovakia through a permanent establishment can now determine the tax base based on the difference between revenues and expenses attributable to the permanent establishment, as determined from the foreign taxpayer's accounting records. The definition of a significant controlled transaction is refined, excluding legal relationships where neither related party achieves taxable income or tax expense exceeding €10,000 (except for loans exceeding €10,000). The law grants the right to a corresponding adjustment of the tax base when a primary adjustment is made in a Slovak legal entity and the counterparty is a Slovak permanent establishment of a non-resident. The determination of the tax base for permanent establishments is aligned with OECD guidelines. The law also adds a reference to OECD Transfer Pricing Guidelines and clarifies the tax administrator's procedures when prices used in transactions with related parties don't adhere to the arm's length principle. Finally, the documentation can first be submitted in a foreign language, before translating to state language, based on tax authorities decision.
현재 슬로바키아 의회에서 소득세법 및 세법 개정안이 논의 중입니다. 이 법은 2023년 1월 1일과 2024년 1월 1일, 두 단계에 걸쳐 시행됩니다. 2023년 1월 1일부터 특수관계자, 이전가격, 고정사업장에 대한 규정이 일부 변경됩니다.
주요 변경 내용은 다음과 같습니다.
친족의 지분을 합산하여 경제적 연관성 기준인 25%를 충족하는 경우도 특수관계자에 포함되도록 그 범위가 확대됩니다. 또한, 고정사업장과 그 설립자 간의 관계를 명확히 하는 등 경제적 연관성의 정의가 구체화됩니다. 특수관계자의 직원이나 임원이 수행하는 근로소득 관련 활동은 통제거래(특수관계자 간 거래)에서 제외됩니다.
슬로바키아에 고정사업장을 둔 외국 납세자는 이제 자사의 회계 기록에 따라 해당 고정사업장의 수익과 비용의 차액을 기준으로 과세표준을 산정할 수 있습니다. 거래 당사자 양쪽의 과세소득 또는 세무상 비용이 10,000유로를 넘지 않는 거래는 중요 통제거래에서 제외됩니다. 단, 10,000유로를 초과하는 대출은 예외입니다.
슬로바키아 법인에서 1차 세무조정이 이루어지고 그 상대방이 비거주자의 슬로바키아 고정사업장인 경우, 해당 고정사업장도 관련 과세표준을 조정할 수 있습니다. 고정사업장의 과세표준 산정 방식이 OECD 가이드라인에 부합하도록 조정됩니다. 또한 특수관계자 간 거래 가격이 정상가격 원칙을 따르지 않을 경우, 과세 당국의 조치 절차를 명확히 하고 OECD 이전가격 가이드라인을 준거로 추가합니다.
마지막으로, 과세 당국의 판단에 따라 관련 서류를 외국어로 먼저 제출한 후, 공식 언어로 번역하여 제출하는 것이 허용됩니다.
The most advantageous form for a family holding is a limited liability company or a joint-stock company (part 3)
ファミリーホールディングスに最適な会社形態は合同会社または株式会社(その3)
家族控股公司的最佳组织形式为有限责任公司或股份有限公司(三)。
가족 지주회사는 유한책임회사나 주식회사 형태가 가장 유리합니다 (3부).
03.10.2022
Consolidating family assets is crucial for tax optimization and protecting wealth across generations. Selling a business as an individual can incur up to 25% tax plus health insurance contributions, w
가족 자산 통합은 절세와 성공적인 자산 승계를 위해 매우 중요합니다. 개인이 사업체를 매각할 경우 최대 25%의 세금과 건강보험료까지 부담할 수 있지만, 법인을 통해 매각하면 특정 조건 하에 세금이 전혀 발생하지 않을 수도 있습니다. 현재 증여세와 상속세가 없는 경우에도, 증여 계약서나 유언장만으로는 수혜자에게 조건을 강제할 수 없다는 한계가 있습니다.
Consolidating family assets is crucial for tax optimization and protecting wealth across generations. Selling a business as an individual can incur up to 25% tax plus health insurance contributions, while selling through a legal entity can potentially result in zero taxation under specific conditions. Although gift and inheritance taxes are currently absent, donation contracts and wills cannot impose conditions on recipients.
Consider a founder whose children inherit equal shares of the company. If the son wants to sell his share and the daughter wishes to continue the business, the son can sell to a foreign investor if the daughter lacks funds to buy him out. Eventually, the daughter might also sell due to disagreements, leading to the demise of the family business and inefficient taxation.
Family holdings, typically structured as limited liability or joint-stock companies, are the most recognized method for asset consolidation. These companies hold and manage assets and equity in subsidiary companies. Limited liability companies offer the advantage of restricting share transfers and inheritance, alongside lower operating costs. Joint-stock companies allow for unlimited shareholders, shareholder anonymity, and limited liability. For large estates, trusts or private foundations in the Czech Republic can further safeguard assets by separating ownership from the family, reducing risks associated with tax increases or the introduction of wealth taxes. These structures maintain assets as a whole and allow for stipulated rules for their use.
가족 자산 통합은 절세와 성공적인 자산 승계를 위해 매우 중요합니다. 개인이 사업체를 매각할 경우 최대 25%의 세금과 건강보험료까지 부담할 수 있지만, 법인을 통해 매각하면 특정 조건 하에 세금이 전혀 발생하지 않을 수도 있습니다. 현재 증여세와 상속세가 없는 경우에도, 증여 계약서나 유언장만으로는 수혜자에게 조건을 강제할 수 없다는 한계가 있습니다.
예를 들어, 창업주의 자녀들이 회사 지분을 동일하게 상속받았다고 가정해 보겠습니다. 아들은 지분을 매각하길 원하고 딸은 사업을 계속 이어가고 싶지만, 딸에게 아들의 지분을 인수할 자금이 부족하다면 아들은 외부 투자자에게 지분을 넘길 수 있습니다. 결국 경영상의 이견 등으로 딸마저 지분을 매각하게 되면 가업의 대가 끊기고 비효율적인 세금 문제만 남게 될 수 있습니다.
가족 자산을 통합하는 가장 대표적인 방법은 유한책임회사나 주식회사 형태의 가족 지주회사를 설립하는 것입니다. 지주회사는 자회사의 자산과 지분을 소유하고 관리하는 역할을 합니다. 유한책임회사는 운영 비용이 비교적 낮고, 지분 이전 및 상속을 제한하여 가족 경영권을 보호하는 데 유리합니다. 주식회사는 주주 수에 제한이 없고 주주의 익명성이 보장되며, 주주들은 투자한 지분에 대해서만 유한 책임을 진다는 장점이 있습니다.
자산 규모가 매우 큰 경우에는 체코의 신탁(Trust)이나 개인 재단(Private Foundation) 같은 구조를 활용해 자산을 더욱 안전하게 보호할 수 있습니다. 이러한 방식은 가족으로부터 자산의 소유권을 분리하여, 향후 세율이 인상되거나 부유세가 도입될 경우 발생할 수 있는 위험을 줄여줍니다. 또한, 자산을 온전히 보존하면서 그 사용에 대한 명확한 규칙을 미리 설정해 둘 수 있습니다.
3rd Annual International Congress of Family Businesses
第三回国際ファミリービジネス年次大会
第三届国际家族企业大会
제3회 국제 가족기업 대회
15.08.2022
The Institute of Family Business is organizing the 3rd International Congress of Family Firms in Bratislava on September 8, 2022, at the Radisson Blu Carlton Hotel. This event aims to foster strong, m
가족 기업 연구소가 주최하는 제3회 국제 가족 기업 컨퍼런스가 2022년 9월 8일, 슬로바키아 브라티슬라바의 래디슨 블루 칼튼 호텔에서 개최됩니다. 본 행사는 여러 세대에 걸쳐 지속되는 강한 가족 기업의 성장을 지원하고, 관련 지식과 경험, 영감을 교류하는 특별한 장을 제공하고자 마련되었습니다.
컨퍼런스에는 이탈리아, 스위스, 슬로바키아, 체코 등 각국
The Institute of Family Business is organizing the 3rd International Congress of Family Firms in Bratislava on September 8, 2022, at the Radisson Blu Carlton Hotel. This event aims to foster strong, multi-generational family businesses and provides a unique platform for exchanging knowledge, experiences, and inspiration. The congress will host over 200 guests from family firms and related professionals, featuring speakers from Italy, Switzerland, Slovakia, and the Czech Republic who will share practical insights and expertise.
Participants can attend workshops focusing on legal, financial, tax, and business development aspects of family entrepreneurship. Key topics include the Gucci family story, conflict resolution, support for family businesses in Slovakia, ethical management and philanthropy, innovation through tradition, multi-generational asset management, improving competitiveness, family offices, and family foundations. Attendees can expect practical advice, inspiration, and networking opportunities. A 10% discount on tickets is available for family firms using the code BDR10 during purchase. The congress promises to be a valuable day for families and their businesses, promoting the development of multi-generational companies.
가족 기업 연구소가 주최하는 제3회 국제 가족 기업 컨퍼런스가 2022년 9월 8일, 슬로바키아 브라티슬라바의 래디슨 블루 칼튼 호텔에서 개최됩니다. 본 행사는 여러 세대에 걸쳐 지속되는 강한 가족 기업의 성장을 지원하고, 관련 지식과 경험, 영감을 교류하는 특별한 장을 제공하고자 마련되었습니다.
컨퍼런스에는 이탈리아, 스위스, 슬로바키아, 체코 등 각국의 연사들이 참여하여 실질적인 통찰과 전문 지식을 공유할 예정이며, 200여 명의 가족 기업인 및 관련 전문가들이 함께할 것입니다.
참가자들은 가족 기업 경영에 필수적인 법률, 재무, 세무, 사업 개발 등 다양한 분야의 워크숍에 참여할 수 있습니다. 주요 주제는 구찌 가문의 이야기, 기업 내 갈등 해결, 슬로바키아의 가족 기업 지원 정책, 윤리 경영과 사회 공헌, 전통을 통한 혁신, 다세대 자산 관리, 기업 경쟁력 강화, 패밀리 오피스와 가족 재단 운영 등입니다.
참석자들께서는 실질적인 조언과 새로운 영감을 얻는 것은 물론, 폭넓은 인적 교류의 기회도 가질 수 있습니다. 가족 기업의 경우, 할인 코드 'BDR10'을 입력하시면 티켓을 10% 할인된 가격으로 구매하실 수 있습니다. 이번 컨퍼런스는 성공적인 다세대 기업으로의 발전을 꿈꾸는 모든 가족과 기업에게 매우 유익한 시간이 될 것입니다.
Changes in the child tax credit from 1 July 2022 and from 1 January 2023
2022年7月1日および2023年1月1日からの児童税額控除の変更について
子女税收抵免自2022年7月1日及2023年1月1日起的调整
2022년 7월 1일 및 2023년 1월 1일부터 적용되는 자녀 세액 공제 변경 사항
01.08.2022
From July 1, 2022, to December 31, 2022, changes were implemented in calculating the child tax bonus in Slovakia. Previously, the bonus varied based on the child's age (e.g., €47.14 for children under
슬로바키아의 자녀 세액 공제 계산 방식이 2022년 7월 1일부터 12월 31일까지 한시적으로 변경되었습니다. 기존에는 6세 미만 자녀에게 월 €47.14를 지급하는 등 연령에 따라 공제액이 달랐지만, 2022년 7월 1일부터는 15세 미만은 월 €70, 15~25세는 월 €40로 변경되었습니다. 이 과도기 동안에는 납세자에게 더 유리한 기존 방식과 새로운
From July 1, 2022, to December 31, 2022, changes were implemented in calculating the child tax bonus in Slovakia. Previously, the bonus varied based on the child's age (e.g., €47.14 for children under 6), but from July 1, 2022, it became €70 for children under 15 and €40 for those aged 15-25. During this transitional period, the calculation used whichever method (old or new) was more beneficial for the taxpayer.
Full entitlement to the tax bonus (either €70 or €40) depends on meeting a specific income threshold, calculated as a percentage of the taxpayer's tax base, depending on the number of dependent children.
Further changes are planned for January 1, 2023, increasing the bonus to €100 for children under 15 and €50 for those aged 15-25. The comparison with the old calculation method will be abolished.
A draft amendment to the Income Tax Act aims to address situations where taxpayers have too low an income to claim the bonus. They may be allowed to file a tax return (even employees normally eligible for annual settlement) and include the income of another eligible person who jointly supports the child in the household to calculate the bonus. However, these proposed changes are subject to revision.
슬로바키아의 자녀 세액 공제 계산 방식이 2022년 7월 1일부터 12월 31일까지 한시적으로 변경되었습니다. 기존에는 6세 미만 자녀에게 월 €47.14를 지급하는 등 연령에 따라 공제액이 달랐지만, 2022년 7월 1일부터는 15세 미만은 월 €70, 15~25세는 월 €40로 변경되었습니다. 이 과도기 동안에는 납세자에게 더 유리한 기존 방식과 새로운 방식 중 하나를 선택하여 적용받을 수 있었습니다.
다만, 이 세액 공제 혜택을 전액 받기 위해서는 소득 기준을 충족해야 합니다. 이 기준은 부양 자녀 수에 따라 납세자 과세표준의 일정 비율로 정해집니다.
2023년 1월 1일부터는 공제액이 15세 미만은 월 €100, 15~25세는 월 €50로 더욱 인상될 예정이며, 이때부터는 기존 방식과 비교하여 유리한 쪽을 선택하는 제도는 폐지됩니다.
한편, 소득이 너무 낮아 세액 공제를 받지 못하는 경우를 위한 소득세법 개정안이 발의되었습니다. 개정안에 따르면, 연말정산 대상인 직장인이라도 별도의 세금 신고를 통해, 함께 자녀를 부양하는 배우자 등 다른 가족의 소득을 합산하여 세액 공제를 신청할 수 있게 될 수 있습니다. 다만, 이 개정안은 아직 확정되지 않았으며 변경될 수 있습니다.
The Ministry of Finance of the Slovak Republic (MFSR) is introducing the Electronic Invoicing Information System (IS EFA) to streamline tax collection, prevent tax fraud, and implement European Union
슬로바키아 재무부(MFSR)는 세금 징수를 효율화하고 탈세를 방지하며, 유럽 연합 지침을 이행하기 위해 전자 송장 정보 시스템(IS EFA)을 도입합니다. 이를 위해 '보장된 전자 송장 발행 및 중앙 경제 시스템에 관한 법률(Law No. 215/2019 Coll., 2019.6.18.)'이 이미 승인되었습니다.
이 시스템은 여러 단계에 걸쳐 시행됩니다.
The Ministry of Finance of the Slovak Republic (MFSR) is introducing the Electronic Invoicing Information System (IS EFA) to streamline tax collection, prevent tax fraud, and implement European Union directives. Law No. 215/2019 Coll. of 18.6.2019 on guaranteed electronic invoicing and the central economic system has already been approved for this purpose.
The system's implementation is taking place in several phases. From January 1, 2022, all entities conducting business transactions with public administration bodies (B2G, G2G) are required to record these transactions. From January 1, 2023, all entities will be required to record their business transactions with other businesses (B2B, G2B) and with their customers/end consumers (B2C, G2C).
The law regulating the submission of invoice data from taxable entities to other businesses or end consumers is still in preparation at the MFSR.
Preparatory work is currently underway for the second and third phases, according to the following schedule: a public test operation of the IS EFA prototype and OpenAPI for guaranteed electronic invoicing was launched in June 2022, and the full operation of guaranteed electronic invoicing (B2B, B2C, G2B and G2C) is scheduled to start in January 2023. The public testing aims to involve the public in testing the system, gather feedback during development, prepare for upcoming changes, identify shortcomings, and implement improvements before the system's full launch.
슬로바키아 재무부(MFSR)는 세금 징수를 효율화하고 탈세를 방지하며, 유럽 연합 지침을 이행하기 위해 전자 송장 정보 시스템(IS EFA)을 도입합니다. 이를 위해 '보장된 전자 송장 발행 및 중앙 경제 시스템에 관한 법률(Law No. 215/2019 Coll., 2019.6.18.)'이 이미 승인되었습니다.
이 시스템은 여러 단계에 걸쳐 시행됩니다. 2022년 1월 1일부터는 공공기관과 거래하는 모든 사업자(B2G, G2G)가, 2023년 1월 1일부터는 다른 사업자(B2B, G2B) 및 최종 소비자(B2C, G2C)와 거래하는 모든 사업자가 거래 내역을 의무적으로 기록해야 합니다.
과세 사업자가 다른 사업자나 최종 소비자에게 송장 데이터를 제출하는 것을 규제하는 법률은 재무부에서 아직 준비 중입니다.
2단계 및 3단계 준비 작업은 다음 일정에 따라 진행되고 있습니다. 2022년 6월, 전자 송장 시스템(IS EFA) 프로토타입 및 OpenAPI 공개 테스트 운영을 시작했으며, 2023년 1월부터는 B2B, B2C, G2B, G2C 거래를 포함한 전자 송장 시스템의 전면 운영이 시작될 예정입니다. 이번 공개 테스트의 목적은 일반 대중을 시스템 테스트에 참여시켜 개발 과정에서 피드백을 수렴하고, 향후 변경 사항에 대비하며, 시스템이 전면 시행되기 전에 문제점을 파악하고 개선하는 것입니다.
상표 등록 비용, 정부 지원금으로 해결할 수 있다는 사실을 알고 계셨나요? 현재 유럽 연합(EU)에 기반을 둔 기업이라면 누구나 EU 전역에 적용되는 상표 등록 비용에 대한 지원금을 신청할 수 있습니다.
많은 분들이 상표 등록을
Protect your intellectual property!
Be responsible and protect your intellectual property! Your know-how belongs to you, so remember to register your trademark.
We remind you that you still have the opportunity to obtain a grant for trademark registration fees. Currently, Slovak companies, as well as entities based in the European Union, can obtain a grant to cover the costs associated with trademark registration, specifically for an application that covers all countries of the European Union.
Some entrepreneurs ignore trademark registration, but it is then difficult to defend them against other entrepreneurs who are parasitizing on their years of built-up reputation.
Want to learn more and take advantage of advantageous registration? Contact us.
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This article emphasizes the importance of protecting intellectual property through trademark registration. It highlights that businesses, especially those in Slovakia and the EU, can access grants to cover trademark registration fees for applications covering the entire EU. The piece warns against neglecting trademark registration, noting the difficulty in defending a brand against competitors who may exploit its reputation without proper protection. The article encourages readers to contact them for more information on advantageous registration opportunities and underscores the value of safeguarding one's know-how. It serves as a reminder to be proactive in securing their intellectual property rights.
상표 등록 비용, 정부 지원금으로 해결할 수 있다는 사실을 알고 계셨나요? 현재 유럽 연합(EU)에 기반을 둔 기업이라면 누구나 EU 전역에 적용되는 상표 등록 비용에 대한 지원금을 신청할 수 있습니다.
많은 분들이 상표 등록을 간과하곤 합니다. 하지만 이는 오랜 시간 공들여 쌓은 브랜드의 명성을 무단으로 도용하는 경쟁사로부터 비즈니스를 보호하기 어렵게 만듭니다.
지원금 혜택과 함께 더 스마트하게 등록하고 싶으신가요? 지금 바로 문의하세요.
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이 글은 상표 등록을 통한 지식재산 보호의 중요성을 강조합니다. 특히 유럽 연합(EU) 내 기업들은 EU 전역에 적용되는 상표 등록 비용에 대한 정부 지원금을 활용할 수 있다는 점을 안내합니다. 또한, 상표 등록을 소홀히 할 경우, 오랜 기간 쌓아온 브랜드의 명성을 무단으로 이용하는 경쟁사로부터 브랜드를 지키기 어렵다는 점을 경고합니다. 더 자세한 정보와 유리한 등록 기회에 대해 문의하도록 권장하며, 자신의 노하우를 지키는 것의 가치를 다시 한번 강조합니다. 이 글은 지식재산권을 보호하기 위해 선제적으로 행동할 것을 상기시키는 역할을 합니다.
이 콘텐츠는 독자가 궁금한 점을 문의하도록 안내하며, 글의 유용성을 평가하는 평점 시스템을 갖추고 있습니다. 독자에게 평점 제출을 권장하며, 현재 5명이
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This content invites readers to contact them with any questions. It also includes a rating system for evaluating the article's helpfulness. Readers are encouraged to submit a rating, with the current average being 5 out of 5 based on 5 votes. However, it also indicates that currently there are no votes, inviting the reader to be the first to evaluate the content. The goal is to gather feedback on the article's quality and utility from the audience.
이 콘텐츠는 독자가 궁금한 점을 문의하도록 안내하며, 글의 유용성을 평가하는 평점 시스템을 갖추고 있습니다. 독자에게 평점 제출을 권장하며, 현재 5명이 참여하여 5점 만점 중 평균 5점을 기록했다고 예시를 보여줍니다. 동시에, 아직 평가가 없다는 메시지를 통해 독자가 첫 번째로 평가에 참여하도록 유도하기도 합니다. 이 기능의 목적은 콘텐츠의 품질과 효용성에 대한 독자 피드백을 수집하는 것입니다.
MOORE BDR in Slovakia is expanding its team and strengthening the digitalization of its services. In 2021, MOORE BDR, along with MOORE Czech Republic, acquired a stake in ESCAPE CONSULT SK, an account
슬로바키아 MOORE BDR이 서비스 디지털화 강화와 팀 확장에 나섭니다. MOORE BDR은 MOORE 체코와 함께 2021년, ESCAPE CONSULT SK의 지분을 인수했습니다. ESCAPE CONSULT SK는 2013년부터 브라티슬라바를 기반으로 회계, 급여 처리, 세무 자문 서비스를 제공해 온 전문 기업입니다.
이번 인수는 슬로바키아 내 MO
MOORE BDR in Slovakia is expanding its team and strengthening the digitalization of its services. In 2021, MOORE BDR, along with MOORE Czech Republic, acquired a stake in ESCAPE CONSULT SK, an accounting and tax advisory firm based in Bratislava that has been providing accounting, payroll processing, and tax advisory services in the Slovak market since 2013.
The acquisition of ESCAPE CONSULT SK aims to strengthen MOORE BDR's accounting team in Slovakia. The company plans to integrate its accounting departments in Banská Bystrica and Bratislava this year, completing the digitalization process initiated in 2020. MOORE BDR sees significant potential in modern technologies to further enhance its services to clients. The integration strengthens the accounting team in Bratislava, as these outsourcing services were previously primarily provided from the Banská Bystrica office.
ESCAPE CONSULT SK was originally a subsidiary of the Czech accounting and tax company ESCAPE CONSULT, acquired in 2020 and merged into Moore Accounting CZ in 2022. The joint acquisition allows MOORE BDR and MOORE Czech Republic to develop joint projects in the Czech and Slovak markets in auditing, tax and economic consulting, accounting, and payroll services.
슬로바키아 MOORE BDR이 서비스 디지털화 강화와 팀 확장에 나섭니다. MOORE BDR은 MOORE 체코와 함께 2021년, ESCAPE CONSULT SK의 지분을 인수했습니다. ESCAPE CONSULT SK는 2013년부터 브라티슬라바를 기반으로 회계, 급여 처리, 세무 자문 서비스를 제공해 온 전문 기업입니다.
이번 인수는 슬로바키아 내 MOORE BDR의 회계팀을 강화하기 위한 것입니다. 회사는 올해 반스카비스트리차와 브라티슬라바의 회계 부서를 통합하여 2020년부터 시작된 디지털 전환을 마무리할 계획입니다. MOORE BDR은 최신 기술을 통해 고객 서비스를 더욱 향상시킬 큰 잠재력을 보고 있습니다. 이번 통합으로 기존에 반스카비스트리차 지점에서 주로 제공되던 아웃소싱 역량이 브라티슬라바 회계팀에 더해지면서 팀의 전문성이 한층 강화되었습니다.
ESCAPE CONSULT SK는 본래 체코의 회계 및 세무 법인 ESCAPE CONSULT의 자회사로, 2020년에 인수되어 2022년 Moore Accounting CZ에 통합되었습니다. 이번 공동 인수를 통해 MOORE BDR과 MOORE 체코는 양국 시장에서 감사, 세무 및 경제 컨설팅, 회계, 급여 서비스 분야의 공동 프로젝트를 추진할 수 있는 기반을 마련했습니다.
The number of tax audits in the last three years has decreased by an average of 40 percent compared to the situation ten years ago, but the efficiency of the financial administra
최근 10년 사이 세무조사 건수는 40%가량 줄었지만, 세무 행정의 효율성은 오히려 높아졌습니다. 기업 감사에서 적발되는 평균 추징액은 약 60% 증가했으며, 이는 조사 건수가 줄어든 대신 탈세 적발 확률은 기록적으로 높아지고 있음을 의미합니다.
국세청 자료에 따르면 이러한 경향은 현재의 세무조사 방식이 과거보다 훨씬 더 정교하고 효과적으로 운영되고 있음
Tax Audits Decreased
The number of tax audits in the last three years has decreased by an average of 40 percent compared to the situation ten years ago, but the efficiency of the financial administration is increasing every year. This was stated in a press release by the audit and advisory company Moore BDR. The amount of the finding during inspections in companies has increased by more than half on average. The probability of finding a violation of tax legislation, along with penalties, is growing at a record pace. "When we compare the current three-year period 2018, 2019 and 2020 with the period from 10 years ago, the number of tax audits decreased by approximately 40%, but the amount of findings from tax audits increased by almost 60% over the same period," the company warned. This is a statistic based on data from the Financial Administration.
Summary:
The number of tax audits has significantly decreased in recent years, with a 40% drop compared to a decade ago. However, the efficiency of the financial administration has improved, leading to a notable increase in the average amount found during company audits. Specifically, the amount of detected violations and associated penalties has risen by approximately 60% over the same period. These statistics, derived from the Financial Administration's data, indicate a higher probability of businesses being found in violation of tax laws, despite the reduced number of audits. This trend underscores the increased effectiveness of current audit processes.
Tax optimization firms hesitate. They can save significant money in the innovation business.
イノベーション事業は大幅な節税効果が見込めるにもかかわらず、節税コンサルティング会社の動きは鈍い。
税务筹划公司踌躇不前,但创新业务的节税潜力巨大。
혁신 사업을 통해 상당한 비용 절감이 가능함에도, 세무 최적화 기업들은 망설이고 있습니다.
31.03.2022
The period leading up to the end of March is the annual tax optimization season for companies. Despite many Slovak entrepreneurs being dissatisfied with the current state of legal tax optimization, ex
매년 3월 말은 기업들의 세금 정산 및 절세 준비 기간입니다. 많은 슬로바키아 기업가들이 현행 법률에 따른 절세 방안에 만족하지 못하지만, 전문가들은 정작 많은 기업이 최신 법규를 제대로 활용하지 못하고 있다고 지적합니다.
새로운 법률 개정안, 특히 혁신 및 과학 연구개발(R&D) 활동을 통해 세금 부담을 크게 줄일 수 있습니다. Moore BDR의 전문
The period leading up to the end of March is the annual tax optimization season for companies. Despite many Slovak entrepreneurs being dissatisfied with the current state of legal tax optimization, experts say many don't fully utilize all the latest legal provisions.
New amendments could significantly help reduce their tax burden, especially through activities in innovation, science, and research. According to Martin Kiňo from Moore BDR, the aim is to support high value-added production in Slovak companies. He highlights tax incentives for R&D firms, including a "super deduction" for R&D costs, a "patent box" regime that exempts income from patents, utility models, and software developed in-house, and temporary support for productive investments tied to Industry 4.0.
Companies can save up to 50% on taxes using the patent box regime, effectively taxing relevant income at 10.5%. Those using the super deduction and continuing R&D can potentially achieve an effective tax rate of 0%. To leverage tax benefits for R&D, companies must understand relevant regulations and have documentation proving they meet all conditions. Determining if an activity qualifies as R&D can be complex.
매년 3월 말은 기업들의 세금 정산 및 절세 준비 기간입니다. 많은 슬로바키아 기업가들이 현행 법률에 따른 절세 방안에 만족하지 못하지만, 전문가들은 정작 많은 기업이 최신 법규를 제대로 활용하지 못하고 있다고 지적합니다.
새로운 법률 개정안, 특히 혁신 및 과학 연구개발(R&D) 활동을 통해 세금 부담을 크게 줄일 수 있습니다. Moore BDR의 전문가 Martin Kiňo에 따르면, 이러한 제도는 슬로바키아 기업의 고부가가치 생산을 지원하기 위해 마련되었습니다. 그는 R&D 비용에 대한 '초과 공제(super deduction)', 자체 개발한 특허·실용신안·소프트웨어에서 발생하는 소득을 감면해주는 '특허 박스(patent box)' 제도, 그리고 4차 산업혁명과 관련된 생산적 투자에 대한 한시적 지원 등을 대표적인 R&D 세제 혜택으로 꼽았습니다.
'특허 박스' 제도를 활용하면 관련 소득에 대해 실효세율 10.5%가 적용되어 세금을 최대 50%까지 절감할 수 있습니다. 여기에 '초과 공제'를 함께 적용하고 R&D 활동을 지속하면, 실효세율을 0%까지 낮추는 것도 가능합니다. 이러한 R&D 세제 혜택을 받으려면, 관련 규정을 정확히 이해하고 모든 조건을 충족함을 증명하는 서류를 완벽하게 구비해야 합니다. 어떤 활동이 R&D에 해당하는지 판단하는 과정 자체가 복잡할 수 있습니다.
Even Innovations Can Help with Tax Optimization, Companies Don't Know About the Innovation
イノベーションが税務の最適化にも繋がることは、多くの企業に知られていない。
许多企业尚未意识到,创新亦可用于税收优化。
혁신을 통해 절세가 가능하지만, 기업들은 그 사실을 모르고 있다.
18.03.2022
Most entrepreneurs are not fully utilizing recent amendments to the Income Tax Act, particularly in innovation, science, and research. These amendments offer significant tax relief to companies engage
최근 소득세법 개정으로 혁신, 과학, 연구 분야에 대한 세제 혜택이 확대되었으나, 많은 기업이 이를 제대로 활용하지 못하고 있습니다.
주요 절세 방안은 다음과 같습니다.
1. **특허 박스 (Patent Box):** 기업이 자체 연구개발(R&D)을 통해 획득한 특허, 실용신안, 소프트웨어에 대한 라이선스 수입의 50%를 비과세하는 제도입니다. 또한,
Most entrepreneurs are not fully utilizing recent amendments to the Income Tax Act, particularly in innovation, science, and research. These amendments offer significant tax relief to companies engaged in these activities.
Key tax optimization tools include:
1. **Patent Box:** A tax regime for legal entities allowing a 50% tax exemption on income from licensing fees for patents, utility models, and software resulting from the company's R&D in Slovakia. A similar exemption applies to 50% of income from product sales utilizing patents or utility models developed by the taxpayer in Slovakia.
2. **Super Deduction for R&D Expenses:** Allows companies and the self-employed to deduct R&D expenses from their tax base, in addition to the initial deduction. From 2015 up to 2021, the deduction was 200% of the R&D expenses. In 2022, however, the percentage decreased to 100%.
3. **Investment Deduction:** A temporary incentive allowing additional deduction of investment expenses from tax depreciation, ranging from 15% to 55%, depending on the investment amount and targeting productive investments tied to Industry 4.0. This applies to investments in manufacturing and logistics systems (tangible and intangible assets), requiring a minimum investment of €1 million exceeding seven times the average investment over the past three years (2019-2021) and an investment plan covering the period of 2022 to 2025. It applies to legal entities and self-employed persons operating for more than three years.
Expertise in preparing documentation and adherence to legal requirements are essential when applying these regimes.
최근 소득세법 개정으로 혁신, 과학, 연구 분야에 대한 세제 혜택이 확대되었으나, 많은 기업이 이를 제대로 활용하지 못하고 있습니다.
주요 절세 방안은 다음과 같습니다.
1. **특허 박스 (Patent Box):** 기업이 자체 연구개발(R&D)을 통해 획득한 특허, 실용신안, 소프트웨어에 대한 라이선스 수입의 50%를 비과세하는 제도입니다. 또한, 자체 개발한 특허나 실용신안을 활용한 제품 판매 수입의 50%에도 동일한 혜택이 적용됩니다.
2. **R&D 비용 추가 공제 (Super Deduction):** 기업 및 개인 사업자가 연구개발에 지출한 비용을 세법상 비용으로 인정받는 것 외에, 과세표준에서 추가로 공제받을 수 있는 제도입니다. 공제율은 2015년부터 2021년까지는 지출 비용의 200%였으나, 2022년부터는 100%로 조정되었습니다.
3. **투자 세액 공제 (Investment Deduction):** '인더스트리 4.0'과 관련된 생산성 향상 목적의 투자에 대해 세금 감면 혜택을 제공하는 한시적 제도입니다. 세법상 감가상각 외에 투자 비용의 15%에서 55%를 추가로 공제받을 수 있습니다. * **적용 대상:** 제조 및 물류 시스템(유형 및 무형 자산)에 대한 투자 * **최소 투자 요건:** * 최소 100만 유로 이상 투자 * 최근 3년(2019-2021) 평균 투자액의 7배를 초과하는 금액 * 2022년부터 2025년까지의 투자 계획서 제출 * **신청 자격:** 3년 이상 사업을 운영한 법인 및 개인 사업자
이러한 세제 혜택을 적용받기 위해서는 관련 서류 준비와 법적 요건을 철저히 준수하는 전문성이 필수적입니다.
Properly Consolidated Family Wealth is the Foundation for a New Generation of Managers (Part 2)
適切に集約された家産は、次世代経営者の礎となる(後編)
家族财富的妥善整合:新一代管理者的基石(下)
체계적으로 정리된 가문 자산, 차세대 경영의 초석 (2)
18.03.2022
The main challenge for family businesses, especially those established after the Velvet Revolution, is succession. While the younger generation brings fresh perspectives, their entry also presents cha
가족 기업, 특히 비교적 최근에 설립된 기업의 가장 큰 과제는 승계 문제입니다. 젊은 후계 세대가 새로운 시각을 제시하는 긍정적인 면도 있지만, 이 과정에서 여러 어려움이 따르기도 합니다.
이에 대한 해결책은 가족 기업의 자산을 통합 관리하는 것입니다. 이를 위해서는 기업이 마주한 위험과 기회, 사업 구조, 유동성은 물론, 현금 흐름이나 투자 수익률 같은
The main challenge for family businesses, especially those established after the Velvet Revolution, is succession. While the younger generation brings fresh perspectives, their entry also presents challenges.
The solution lies in consolidating the family business's assets. This requires understanding the business's overall situation, including risks, opportunities, structure, liquidity, and financial indicators like cash flow and return on investment. Consolidation ensures a clearly defined structure that maximizes asset efficiency, benefiting relationships with creditors and facilitating intergenerational transfer and inheritance. This consolidation should ideally be done by the original founder who intuitively understands the business and can provide guidance for future generations.
Proper asset consolidation reduces risks associated with the founder's established influence, which successors need to build anew. A well-consolidated estate provides a solid foundation for them, allowing them to navigate and utilize assets effectively. It also simplifies property rights, reducing potential conflicts arising from multiple heirs. Without consolidation, the "family tree" of ownership relationships can become increasingly complex, hindering decision-making and efficiency across generations.
가족 기업, 특히 비교적 최근에 설립된 기업의 가장 큰 과제는 승계 문제입니다. 젊은 후계 세대가 새로운 시각을 제시하는 긍정적인 면도 있지만, 이 과정에서 여러 어려움이 따르기도 합니다.
이에 대한 해결책은 가족 기업의 자산을 통합 관리하는 것입니다. 이를 위해서는 기업이 마주한 위험과 기회, 사업 구조, 유동성은 물론, 현금 흐름이나 투자 수익률 같은 재무 지표까지 전반적인 상황을 파악해야 합니다. 자산을 통합하면 명확한 사업 구조가 확립되어 자산 효율성을 극대화할 수 있습니다. 이는 채권자 관계에 긍정적인 영향을 미치고, 원활한 증여나 상속을 가능하게 합니다. 이러한 자산 통합은 사업을 직관적으로 이해하고 다음 세대에게 방향을 제시해 줄 수 있는 창업주가 직접 실행하는 것이 가장 이상적입니다.
자산이 체계적으로 통합되면, 후계자가 처음부터 다시 쌓아야 하는 창업주의 영향력에 대한 부담과 위험을 줄여줍니다. 잘 정리된 자산은 후계자에게 든든한 기반이 되어, 이들이 사업 자산을 효과적으로 파악하고 활용할 수 있도록 돕습니다. 또한 재산 소유 관계가 단순해져 여러 상속인 사이에서 발생할 수 있는 분쟁의 소지를 줄입니다. 자산 통합이 이루어지지 않으면, 여러 세대를 거치며 소유권 관계가 '가계도'처럼 복잡하게 얽히게 되고, 이는 결국 신속한 의사결정과 경영 효율성을 저해하는 원인이 됩니다.
The generational handover is the most important business of the family (Part 1)
事業承継は、一族の一大事である(その1)
家族传承是头等大事(上)
세대교체, 가문의 가장 중요한 사업이다 (상)
18.03.2022
The generational handover in a family business, involving the company's entire assets, is a challenging process often made more difficult by the founder's initial focus on immediate opportunities rath
기업의 모든 자산이 걸린 가업 승계는 매우 어려운 과제입니다. 특히 창업주가 장기적인 승계 계획보다 당장의 사업 기회에 집중하는 경우가 많아 그 과정은 더욱 복잡해집니다. 다음 세대가 경영에 참여하면서 다양한 의견이 생겨나고, 이를 신중하게 조율하지 못하면 사업 전체가 위기에 빠질 수 있습니다. 가업 승계는 한번 이루어지면 되돌리기 어려운 중대한 과정으로,
The generational handover in a family business, involving the company's entire assets, is a challenging process often made more difficult by the founder's initial focus on immediate opportunities rather than long-term succession planning. The inclusion of subsequent generations introduces diverse perspectives, potentially jeopardizing the business if not handled carefully. This transition is a critical, often irreversible operation where inadequate preparation can lead to failure and the gradual erosion of the family's wealth.
The key solution lies in family asset consolidation, aimed at preventing the fragmentation of strategic assets among future generations while ensuring adequate support for close family members. Assets should remain firmly within the immediate family, avoiding dispersal among different branches, former partners, or individuals outside the core family. Asset consolidation is paramount in safeguarding the family business during generational shifts.
기업의 모든 자산이 걸린 가업 승계는 매우 어려운 과제입니다. 특히 창업주가 장기적인 승계 계획보다 당장의 사업 기회에 집중하는 경우가 많아 그 과정은 더욱 복잡해집니다. 다음 세대가 경영에 참여하면서 다양한 의견이 생겨나고, 이를 신중하게 조율하지 못하면 사업 전체가 위기에 빠질 수 있습니다. 가업 승계는 한번 이루어지면 되돌리기 어려운 중대한 과정으로, 준비가 미흡할 경우 기업의 실패는 물론 가족의 자산까지 점차 사라지게 될 위험이 있습니다.
핵심적인 해결책은 '가족 자산의 통합'에 있습니다. 이는 핵심 자산이 후대로 내려가면서 여러 사람에게 흩어지는 것을 막고, 직계 가족 구성원들의 안정적인 삶을 보장하기 위한 것입니다. 자산은 반드시 직계 가족의 범위 내에 머물러야 하며, 방계 가족이나 과거의 동업자, 혹은 가족의 범위를 벗어난 외부인에게 분산되는 것을 막아야 합니다. 이처럼 자산을 통합하는 것은 세대교체 과정에서 가족 기업을 지키는 가장 중요한 원칙입니다.
Globalization has created a parallel world where some companies seek to optimize taxes by, for example, relocating their headquarters abroad. To eliminate this phenomenon, several initiatives have eme
세계화로 인해 일부 기업들은 본사를 해외로 이전하는 등 조세 부담을 최소화하려는 전략을 사용하고 있습니다. 이러한 움직임에 대응하기 위해 '세원 잠식과 소득 이전(BEPS) 방지 프로젝트'와 유럽연합(EU)의 관련 지침(ATAD, ATAD II) 등 여러 국제적 규제가 도입되었습니다.
이 규제들은 공격적인 조세 회피를 막는 것이 주된 목적이지만, 합법적인
Globalization has created a parallel world where some companies seek to optimize taxes by, for example, relocating their headquarters abroad. To eliminate this phenomenon, several initiatives have emerged, including the Action Plan on Base Erosion and Profit Shifting (BEPS) and the related European Union (EU) directives ATAD and ATAD II. These initiatives primarily target companies using aggressive tax structures, but the rules they introduce also affect legitimate holding structures. Read more about current tax trends for holding structures in an article by Martin Kiňo in the Trend weekly. Contact them for assistance.
Globalization has led to tax optimization strategies by companies, such as relocating headquarters, prompting international initiatives like BEPS and EU directives ATAD and ATAD II. These measures aim to counter aggressive tax avoidance but also impact legitimate holding structures. An article by Martin Kiňo in Trend weekly explores current tax trends affecting holding structures. The globalized economy enables companies to exploit tax loopholes through strategies like headquarters relocation, leading to initiatives like BEPS and EU's ATAD directives. While targeting aggressive tax schemes, these regulations also affect compliant holding companies. The article featured discusses these trends and their implications. Assistance is available for those seeking clarification or guidance.
세계화로 인해 일부 기업들은 본사를 해외로 이전하는 등 조세 부담을 최소화하려는 전략을 사용하고 있습니다. 이러한 움직임에 대응하기 위해 '세원 잠식과 소득 이전(BEPS) 방지 프로젝트'와 유럽연합(EU)의 관련 지침(ATAD, ATAD II) 등 여러 국제적 규제가 도입되었습니다.
이 규제들은 공격적인 조세 회피를 막는 것이 주된 목적이지만, 합법적인 지주회사 구조에도 영향을 미칩니다. 지주회사 구조에 영향을 미치는 최신 조세 동향에 대한 더 자세한 내용은 Trend 주간지에 실린 Martin Kiňo의 기사에서 다루고 있습니다. 도움이 필요하시면 문의하시기 바랍니다.
Transparent Entities after 1.1.2022 (General Commercial Partnerships and Limited Partnerships)
2022年1月1日以降のパススルー事業体(合名会社・合資会社)
自2022年1月1日起的税收透明实体(普通合伙企业与有限合伙企业)
2022.1.1. 이후 투과과세 법인 (합명회사 및 합자회사)
16.02.2022
The article discusses new Slovak tax regulations concerning transparent entities like general partnerships and limited partnerships controlled by foreign individuals, effective January 1, 2022. These
2022년 1월 1일부터 슬로바키아에서 새로운 세법이 시행되었습니다. 이는 외국인이 지분을 소유한 합명회사나 합자회사 같은 특정 파트너십 회사에 적용되는 규정입니다. 유럽연합(EU)의 조세 회피 방지 지침에 따라, 국제적 이중 비과세 문제를 해결하기 위해 도입되었습니다.
핵심 내용은 '역혼성 불일치' 해소에 있습니다. 슬로바키아 법상 '투명 실체'란 회사
The article discusses new Slovak tax regulations concerning transparent entities like general partnerships and limited partnerships controlled by foreign individuals, effective January 1, 2022. These regulations implement ATAD 2, introducing rules for reverse hybrid entities to tax income allocated to foreign partners if it isn't taxed elsewhere. A "transparent entity" is defined as a partnership where income is taxed at the partner level. A "reverse hybrid entity" is considered transparent in its country of origin but non-transparent by its foreign owner's country, creating a risk of double non-taxation. If foreign partners own 50% or more of a transparent entity, their income will be taxed at the corporate income tax rate of 21% in Slovakia if not taxable elsewhere. A new reporting requirement mandates foreign partners meeting the 50% threshold to declare the company's hybrid status. This applies retroactively to existing entities, requiring notification by January 31, 2022. While the rules primarily target foreign partners, limited partners should still verify the ultimate beneficiary for profit distributions to avoid potential withholding taxes, which can be as high as 35% if the beneficiary is not proven. This is particularly relevant due to ongoing discussions regarding the definition of the "ultimate beneficiary". The complexities necessitate consultation with tax advisors when using transparent entities.
2022년 1월 1일부터 슬로바키아에서 새로운 세법이 시행되었습니다. 이는 외국인이 지분을 소유한 합명회사나 합자회사 같은 특정 파트너십 회사에 적용되는 규정입니다. 유럽연합(EU)의 조세 회피 방지 지침에 따라, 국제적 이중 비과세 문제를 해결하기 위해 도입되었습니다.
핵심 내용은 '역혼성 불일치' 해소에 있습니다. 슬로바키아 법상 '투명 실체'란 회사 자체는 과세되지 않고, 발생한 소득이 파트너(구성원)에게 귀속되어 파트너 단계에서 과세되는 회사를 의미합니다. 그러나 이 회사가 슬로바키아에서는 '투명 실체'로 취급되나, 외국인 파트너의 국가에서는 '불투명 실체'(과세 법인)로 간주될 경우, 양국 어디에서도 과세되지 않는 문제가 발생할 수 있습니다.
새로운 규정에 따라, 외국인 파트너의 지분율이 총 50% 이상인 투명 실체에서 발생한 소득이 다른 국가에서 과세되지 않는다면, 해당 소득에 대해 슬로바키아에서 21%의 법인세가 부과됩니다.
또한, 외국인 파트너 지분율이 50% 이상인 회사는 이러한 '혼성' 상태임을 신고해야 할 의무가 생겼으며, 이 규정은 기존 회사에도 소급 적용됩니다.
이 규정은 주로 외국인 파트너를 대상으로 하지만, 유한책임 파트너 역시 이익을 배당할 때 '최종 수익자'가 누구인지 명확히 확인해야 합니다. 최종 수익자를 증명하지 못할 경우, 최대 35%에 달하는 높은 세율의 원천징수세가 부과될 수 있기 때문입니다. 특히 '최종 수익자'의 정의에 대한 논의가 계속되고 있어 주의가 필요합니다.
이처럼 관련 규정이 복잡하므로, 슬로바키아에서 파트너십 형태의 회사를 운영할 경우 반드시 세무 전문가와 상담하는 것이 중요합니다.
The coming weeks are a period of tax optimization for companies. While most Slovak firms are dissatisfied with the current state of legal tax optimization, many fail to fully utilize the latest amendm
최근 기업들의 절세 전략이 중요해지는 시기입니다. 많은 기업들이 현행 세법상 절세 혜택에 만족하지 못하면서도, 정작 최근 개정된 소득세법의 새로운 규정들은 제대로 활용하지 못하고 있습니다.
특히 이번 개정안은 혁신, 과학, 연구개발(R&D) 분야에 대한 활동을 통해 기업의 세금 부담을 크게 줄일 수 있는 기회를 제공합니다. 하지만 여전히 많은 기업들이 이
The coming weeks are a period of tax optimization for companies. While most Slovak firms are dissatisfied with the current state of legal tax optimization, many fail to fully utilize the latest amendments to the Income Tax Act. These new adjustments could significantly help reduce their tax burden, particularly through company activities in innovation, science, and research.
Many companies aren't using current tax law adjustments to lower their tax liabilities. The news article encourages innovation, science, and research ventures because of the newest tax law adjustments in those areas.
최근 기업들의 절세 전략이 중요해지는 시기입니다. 많은 기업들이 현행 세법상 절세 혜택에 만족하지 못하면서도, 정작 최근 개정된 소득세법의 새로운 규정들은 제대로 활용하지 못하고 있습니다.
특히 이번 개정안은 혁신, 과학, 연구개발(R&D) 분야에 대한 활동을 통해 기업의 세금 부담을 크게 줄일 수 있는 기회를 제공합니다. 하지만 여전히 많은 기업들이 이러한 세법 개정 내용을 세금 감면에 활용하지 않고 있어, 관련 분야에 대한 적극적인 관심과 투자가 권장됩니다.
Erika Matwij, a PRF expert in family business strategy and management, was interviewed by TREND magazine about the proper timing of generational transitions, the purpose of a family constitution, the
가족 기업 전략 및 경영 전문가인 에리카 마트비(Erika Matwij)가 TREND 매거진과 인터뷰를 가졌습니다. 인터뷰에서는 성공적인 세대 교체 시점, 가족 헌장의 목적, 가족 협의회의 이상적인 운영 방식, 후계자들이 겪는 어려움 등 심도 있는 주제를 다룹니다.
기사 원문은 보수 책정이나 재산 분할과 같이 민감한 사안도 조명하며, 이러한 과정이 6년
Erika Matwij, a PRF expert in family business strategy and management, was interviewed by TREND magazine about the proper timing of generational transitions, the purpose of a family constitution, the ideal functioning of family councils, and common shortcomings of successors. More information is available at the provided link. The article discusses sensitive topics in family businesses such as remuneration and property division, highlighting that these processes can take up to six years or more. The piece also includes an invitation to contact them for assistance with application processes.
Tax audits are generally unpleasant for businesses, representing a significant government intervention. However, financial administration statistics show increasing efficiency in tax audits. Compared
세무조사는 기업에게 부담스러운 일이며, 정부의 강력한 개입을 의미합니다. 하지만 최근 국세청 통계에 따르면 세무조사의 효율성은 점차 높아지고 있습니다. 10년 전과 비교해 세무조사 건수는 절반으로 줄었지만, 적발 건수와 추징 세액은 오히려 늘어났습니다. 이는 세무조사가 더욱 정교해졌으며, 납세자의 부담은 가중되었음을 시사합니다. 주요 조사 대상은 여전히 부
Tax audits are generally unpleasant for businesses, representing a significant government intervention. However, financial administration statistics show increasing efficiency in tax audits. Compared to a decade ago, the number of tax audits has halved, while the detected discrepancies and resulting fines have increased, indicating more effective audits but greater challenges for taxpayers. VAT remains the primary focus, but tax authorities are increasingly scrutinizing other taxes, such as corporate and individual income tax.
Data from 2018-2020 reveals a higher probability of findings during audits. Taxpayers lacking proper documentation and professional representation are at a disadvantage. The dynamic nature of tax, accounting, and auditing legislation makes it nearly impossible for businesses to manage these areas alongside their core activities. Statistics highlight a high percentage of audits related to employment income tax also resulting in findings. Transfer pricing audits in 2020 resulted in findings in 83% of cases.
Preparing for a tax audit successfully relies on the quality, quantity, and professional processing of supporting documents. Therefore, seeking representation from experts can save time, stress, and money by avoiding hefty penalties. Moore BDR offers 30 years of experience in tax and economic consulting, auditing, accounting, and payroll services, with a specialized team for every tax area.
세무조사는 기업에게 부담스러운 일이며, 정부의 강력한 개입을 의미합니다. 하지만 최근 국세청 통계에 따르면 세무조사의 효율성은 점차 높아지고 있습니다. 10년 전과 비교해 세무조사 건수는 절반으로 줄었지만, 적발 건수와 추징 세액은 오히려 늘어났습니다. 이는 세무조사가 더욱 정교해졌으며, 납세자의 부담은 가중되었음을 시사합니다. 주요 조사 대상은 여전히 부가가치세이지만, 법인세와 소득세 등 다른 세목에 대한 조사도 강화되는 추세입니다.
실제로 2018년부터 2020년까지의 통계를 보면 세무조사에서 문제점이 발견될 확률이 매우 높게 나타납니다. 특히, 관련 증빙 자료를 제대로 갖추지 못했거나 전문가의 조력을 받지 못하는 납세자는 불리한 위치에 놓일 수밖에 없습니다. 빠르게 변화하는 세법, 회계, 감사 규정을 기업이 본업과 병행하며 모두 관리하기란 거의 불가능에 가깝습니다. 통계적으로도 근로소득세 관련 조사나 이전가격 세무조사에서 문제점이 적발되는 비율이 매우 높게 나타나는데, 2020년 이전가격 세무조사의 경우 83%가 추징으로 이어졌습니다.
성공적인 세무조사 대비는 관련 증빙 서류를 얼마나 체계적으로, 그리고 전문적으로 준비하고 관리하는지에 달려 있습니다. 따라서 전문가의 도움을 받는 것은 과도한 추징금을 피하고 시간과 스트레스, 비용을 절약하는 가장 효과적인 방법입니다. Moore BDR은 지난 30년간 세무, 경제 컨설팅, 감사, 회계 및 급여 관리 분야에서 전문성을 쌓아왔으며, 각 세무 분야별 전담팀을 통해 최적의 서비스를 제공합니다.
In connection with the amendment to the Tax Code, several noteworthy changes are being introduced. Approved by the National Council of the Slovak Republic on October 27, 2021, the amendment affects no
최근 세법 개정에 따라 몇 가지 중요한 변경 사항이 시행됩니다. 2021년 10월 27일 슬로바키아 국회를 통과한 이번 개정안은 기존 세법은 물론 소득세법과 부가가치세법에도 영향을 미칩니다.
2021년 11월 15일부터 납세자는 모든 사업용 은행 계좌를 국세청에 신고해야 하며, 국세청은 이 계좌 목록을 웹사이트에 공개합니다. 만약 신고되지 않은 계좌로 대
In connection with the amendment to the Tax Code, several noteworthy changes are being introduced. Approved by the National Council of the Slovak Republic on October 27, 2021, the amendment affects not only the Tax Code but also the Income Tax Act and the VAT Act.
Effective November 15, 2021, taxpayers must report all business-related bank accounts to the Financial Directorate, which will publish a list on its website. Failure to report or paying to unlisted accounts results in VAT liability for the customer.
From January 1, 2022, the tax reliability index is modified to enhance motivation. The index, assigned to all income tax-registered entities, will be evaluated every half-year based on criteria set by the Ministry of Finance. Highly reliable entities receive benefits like extended deadlines for tax audits and reduced fees for binding opinions. Conversely, unreliable entities face shorter deadlines.
Additional changes from January 1, 2022, include publishing taxpayer bank accounts and tax reliability indices on the Financial Administration's website. The deduction for research and development is reduced to 100% of eligible expenses. Furthermore, taxpayers can claim an additional deduction (15% to 55%) for investment expenses, depending on the level of reinvestment, with specific conditions to be met, including a minimum investment of EUR 1 million and an investment plan.
Administrative burdens are reduced by eliminating physical DIČ/IČ-DPH cards, while the fee for binding opinions is lowered. A new measure allows authorities to exclude individuals from acting as statutory representatives of companies to combat VAT fraud. Other changes include the abolition of summary protocols, easier access to files, and the possibility of conducting witness hearings via videoconference.
최근 세법 개정에 따라 몇 가지 중요한 변경 사항이 시행됩니다. 2021년 10월 27일 슬로바키아 국회를 통과한 이번 개정안은 기존 세법은 물론 소득세법과 부가가치세법에도 영향을 미칩니다.
2021년 11월 15일부터 납세자는 모든 사업용 은행 계좌를 국세청에 신고해야 하며, 국세청은 이 계좌 목록을 웹사이트에 공개합니다. 만약 신고되지 않은 계좌로 대금을 지급할 경우, 대금을 지급한 고객이 부가가치세를 대신 납부해야 할 책임이 생길 수 있습니다.
2022년 1월 1일부터는 납세자의 성실 신고를 유도하기 위해 '세금 성실도 지수' 제도가 개선됩니다. 소득세 납세자로 등록된 모든 사업자를 대상으로 하는 이 지수는 매년 두 차례 평가되며, 성실도가 높은 사업자는 세무조사 기한 연장, 유권해석 수수료 인하 등의 혜택을 받지만, 불성실 사업자는 반대로 각종 기한이 단축되는 불이익을 받게 됩니다.
또한 이날부터 국세청 웹사이트에는 납세자의 은행 계좌 정보와 세금 성실도 지수가 공개됩니다. 연구개발비 세액공제율은 적격 비용의 100%로 조정됩니다. 더불어, 재투자 수준에 따라 투자 비용의 15%에서 55%까지 추가 공제를 받을 수 있는 제도도 신설됩니다. 다만, 최소 100만 유로 이상을 투자하고 투자 계획을 제출하는 등 특정 조건을 충족해야 합니다.
납세자의 행정 부담을 줄이기 위한 여러 조치도 함께 시행됩니다. 실물 사업자등록증 카드가 폐지되고 유권해석 신청 수수료가 인하됩니다. 부가가치세 사기 방지를 위해 특정 인물이 회사의 법적 대표를 맡지 못하도록 제한하는 새로운 규정이 도입됩니다. 이외에도 요약 보고서 제출 의무가 폐지되고, 관련 서류 열람이 간편해지며, 화상회의를 통한 증인 신문도 가능해집니다.
The amendment aims to combat tax fraud, improve the business environment, and transpose EU law into the VAT Act. Key changes include new reporting obligations for VAT payers, specifically concerning b
이번 개정안은 세금 탈루 방지, 사업 환경 개선, 그리고 관련 EU 법규를 부가가치세법에 반영하기 위해 시행됩니다.
주요 변경 사항으로, 모든 부가가치세 납세자는 사업에 사용하는 은행 계좌를 세무 당국에 의무적으로 신고해야 합니다. 신고된 계좌 정보는 공개되어, 거래 상대방이 미납 부가세에 대한 연대 책임을 지는 위험을 줄일 수 있도록 합니다. 기존 사업
The amendment aims to combat tax fraud, improve the business environment, and transpose EU law into the VAT Act. Key changes include new reporting obligations for VAT payers, specifically concerning bank accounts used for business, which must be reported to the Financial Directorate. These accounts will be publicly accessible to minimize the risk of liability for unpaid VAT. Existing VAT payers had to report their accounts by November 30, 2021, while newly registered payers must do so immediately. Failure to comply results in fines and delays in VAT refunds.
The amendment also expands liability for unpaid VAT, creating a presumption that customers knew or should have known if a supplier would not pay VAT, especially if payment was made to an unreported bank account. To avoid liability, customers can verify the supplier's bank account against the Financial Directorate's list or use "split payment," where the VAT portion of the invoice is paid directly to the tax authority. Registration cards are eliminated from January 1, 2022, and OSS scheme rules clarified. Finally, deposits on beverage containers are excluded from the taxable base.
이번 개정안은 세금 탈루 방지, 사업 환경 개선, 그리고 관련 EU 법규를 부가가치세법에 반영하기 위해 시행됩니다.
주요 변경 사항으로, 모든 부가가치세 납세자는 사업에 사용하는 은행 계좌를 세무 당국에 의무적으로 신고해야 합니다. 신고된 계좌 정보는 공개되어, 거래 상대방이 미납 부가세에 대한 연대 책임을 지는 위험을 줄일 수 있도록 합니다. 기존 사업자는 2021년 11월 30일까지 신고를 완료해야 했으며, 신규 사업자는 등록 즉시 신고해야 합니다. 이 의무를 위반할 경우, 과태료가 부과되고 부가세 환급이 지연될 수 있습니다.
또한 이번 개정안은 공급업체의 부가세 미납에 대한 구매자의 책임도 확대합니다. 특히 세무 당국에 신고되지 않은 계좌로 대금을 이체한 경우, 구매자는 공급업체의 탈루 가능성을 알았거나 알 수 있었다고 간주됩니다. 이러한 연대 책임을 피하기 위해서는, 거래 전 세무 당국이 공개한 목록을 통해 공급업체의 계좌가 신고된 것인지 확인하거나, 대금 중 부가세에 해당하는 금액을 공급업체가 아닌 세무 당국에 직접 납부하는 '부가세 대리 납부 제도(split payment)'를 이용할 수 있습니다.
그 외 변경 사항으로, 2022년 1월 1일부터 사업자 등록증 발급 절차가 간소화되고(등록 카드 폐지), 원스톱 상점(OSS) 제도 관련 규정이 명확해집니다. 마지막으로, 음료 용기 보증금은 부가세 과세 표준에서 제외됩니다.
Effective November 15, 2021, a new amendment to the Slovak VAT law requires all VAT payers in Slovakia to report all bank account numbers used for VAT-taxable business activities to the Financial Dire
2021년 11월 15일부터 발효되는 슬로바키아 부가가치세법 개정안에 따라, 슬로바키아의 모든 부가세 납세자는 부가세 과세 사업에 사용하는 모든 은행 계좌를 2021년 11월 30일까지 슬로바키아 금융위원회에 신고해야 합니다. 이는 슬로바키아 국내 및 해외 금융 기관의 계좌를 모두 포함합니다.
또한, 지주회사나 그룹 내 다른 관계사의 은행 계좌도 신고할
Effective November 15, 2021, a new amendment to the Slovak VAT law requires all VAT payers in Slovakia to report all bank account numbers used for VAT-taxable business activities to the Financial Directorate of the Slovak Republic by November 30, 2021. This includes accounts held in Slovakia or with foreign payment service providers.
VAT payers can also report bank accounts belonging to other entities within a holding or group, which will then be considered as their own accounts. In such cases, the VAT payer must also identify the actual account owner, who will be jointly liable for unpaid VAT on invoices paid into that account.
From January 1, 2022, customers paying suppliers into unreported accounts may be liable for the supplier's unpaid VAT. Furthermore, VAT refunds will only be paid into reported accounts, with delays if accounts are not registered. Failure to comply may result in fines ranging from €30 to €3,000, and providing incorrect information can incur penalties up to €10,000.
VAT payers must promptly report any changes to their registered bank accounts. If the sender of the email handles electronic communication with the tax authorities on behalf of a client, they request the client to provide all relevant bank account details for reporting. Otherwise, taxpayers can find pre-filled forms on the Financial Administration portal or seek assistance.
2021년 11월 15일부터 발효되는 슬로바키아 부가가치세법 개정안에 따라, 슬로바키아의 모든 부가세 납세자는 부가세 과세 사업에 사용하는 모든 은행 계좌를 2021년 11월 30일까지 슬로바키아 금융위원회에 신고해야 합니다. 이는 슬로바키아 국내 및 해외 금융 기관의 계좌를 모두 포함합니다.
또한, 지주회사나 그룹 내 다른 관계사의 은행 계좌도 신고할 수 있으며, 이 경우 해당 계좌는 납세자 본인의 계좌로 간주됩니다. 이때, 부가세 납세자는 실제 계좌 소유주를 명시해야 하며, 해당 계좌로 대금이 입금된 거래에 대한 미납 부가세에 대해 계좌 소유주와 연대 납세 의무를 집니다.
2022년 1월 1일부터는, 공급업체의 미신고 계좌로 대금을 지급하는 고객이 공급업체의 미납 부가세에 대한 납부 책임을 질 수 있습니다. 부가세 환급 또한 신고된 계좌로만 이루어지며, 계좌가 등록되지 않은 경우 환급이 지연될 수 있습니다. 신고 의무를 이행하지 않을 경우 30유로에서 3,000유로의 벌금이, 허위 정보를 제공할 경우 최대 10,000유로의 과태료가 부과될 수 있습니다.
부가세 납세자는 등록된 은행 계좌에 변경 사항이 발생할 경우 즉시 신고해야 합니다. 세무 대리인을 통해 국세청 업무를 처리하는 경우, 신고에 필요한 모든 은행 계좌 정보를 대리인에게 제공해야 합니다. 직접 신고하는 납세자는 금융행정 포털에서 관련 양식을 이용하거나 필요한 지원을 받을 수 있습니다.
Companies would welcome a reduction in payroll taxes of five to ten percent, according to Martin Kiňo, a partner and advisor for Trend. The article "Taxpayer of the Year" by Zuzana Kullová discusses t
트렌드(Trend)의 파트너 겸 고문인 마르틴 키뇨는 기업들이 5~10%의 인건비 관련 세금 인하를 환영할 것이라고 밝혔습니다. 이 내용은 주자나 쿨로바가 작성한 "올해의 납세자"라는 기사에서 다루어졌습니다. 해당 기사는 2020년 슬로바키아의 세수 증가 현황을 분석하고, 국가 세수에 가장 크게 기여한 상위 50대 납세 기업을 공개합니다.
또한, 이 기사
Companies would welcome a reduction in payroll taxes of five to ten percent, according to Martin Kiňo, a partner and advisor for Trend. The article "Taxpayer of the Year" by Zuzana Kullová discusses the growth of tax revenues in 2020 and identifies the top 50 taxpayers in Slovakia. A partner from Trend, Martin Kiňo, suggests that businesses would benefit from a 5-10% decrease in payroll taxes. The article "Taxpayer of the Year" by Zuzana Kullová delves into Slovakia's tax revenue growth in 2020 and identifies the country's 50 largest taxpayers. It explores the correlation between tax burdens and business prosperity and potentially highlights specific industries or companies that significantly contribute to the national tax revenue. The article likely provides an analysis of the tax landscape in Slovakia, offering insights into the major players and their impact on the economy. Ultimately, it aims to inform readers about the financial ecosystem and the entities driving Slovakia's tax revenues.
트렌드(Trend)의 파트너 겸 고문인 마르틴 키뇨는 기업들이 5~10%의 인건비 관련 세금 인하를 환영할 것이라고 밝혔습니다. 이 내용은 주자나 쿨로바가 작성한 "올해의 납세자"라는 기사에서 다루어졌습니다. 해당 기사는 2020년 슬로바키아의 세수 증가 현황을 분석하고, 국가 세수에 가장 크게 기여한 상위 50대 납세 기업을 공개합니다.
또한, 이 기사는 세금 부담과 기업 성장 사이의 상관관계를 탐구하고, 국가 재정에 상당한 영향을 미치는 특정 산업이나 기업들을 조명합니다. 이를 통해 슬로바키아의 전반적인 조세 환경과 경제에 대한 깊이 있는 통찰을 제공하며, 궁극적으로 독자들이 국가 경제의 핵심 동력인 기업 및 금융 생태계를 이해하도록 돕는 것을 목표로 합니다.
TREND 매거진이 선정한 '올해의 납세 기업' 순위에서 폭스바겐 슬로바키아가 1위를 차지했습니다. 이 회사는 슬로바키아 국고에 약 2억 5,500만 유로의 세금을 납부했습니다.
그 뒤를 이어 유스트림이 2위, U.S. 스틸 코시체가 3위에 올랐습니다. 이번 순위는 이들 기업이 세금 납부를 통해 슬로바키아 경제에 얼마나 중요한 재정적 기여를 하는지 잘 보
We compiled a ranking of the largest taxpayers for TREND magazine.
Volkswagen Slovakia, a.s., Bratislava, won the TREND TOP award in the Taxpayer of the Year category. Eustream, a.s., Bratislava, took second place in this category, and U.S. Steel Košice, s.r.o., Košice, completed the top three. Last year, the category winner, Volkswagen Slovakia, a.s., paid approximately 255 million euros in taxes to the state treasury.
Volkswagen Slovakia secured the top spot as Taxpayer of the Year in a TREND magazine ranking, contributing roughly €255 million in taxes to the Slovakian state treasury. Eustream, a.s., followed in second place, while U.S. Steel Košice completed the top three largest taxpayers. The ranking highlights the significant financial contributions of these companies to the Slovakian economy through their tax payments.
The Ministry of Economy of the Slovak Republic has announced a package of measures aimed at improving the business environment, known as "Kilečko". More information can be found on the Ministry of Eco
슬로바키아 경제부가 기업 환경 개선을 위한 정책 패키지 '킬레치코(Kilečko)'를 발표했습니다. 이번 정책은 기업 운영의 절차를 간소화하고 각종 부담을 완화하는 것을 목표로 합니다.
'킬레치코'의 구체적인 계획, 기대 효과, 추진 일정 등 자세한 내용은 경제부 공식 웹사이트에서 확인할 수 있습니다. 경제부는 앞으로의 개혁 추진을 위해 관련 내용을 공개
The Ministry of Economy of the Slovak Republic has announced a package of measures aimed at improving the business environment, known as "Kilečko". More information can be found on the Ministry of Economy's website.
The Ministry of Economy of the Slovak Republic has unveiled "Kilečko," a collection of proposed measures designed to streamline processes and ease burdens on businesses operating within the country. Further details regarding the specific initiatives encompassed by "Kilečko," their potential impact, and implementation timelines are available on the Ministry's official website. The announcement invites businesses and the public to review the information and potentially provide feedback as the Ministry moves forward with these proposed reforms. The stated aim is to foster a more conducive environment for economic activity and growth. Initial feedback has been positive, with an average rating of 5 out of 5 based on one vote.
슬로바키아 경제부가 기업 환경 개선을 위한 정책 패키지 '킬레치코(Kilečko)'를 발표했습니다. 이번 정책은 기업 운영의 절차를 간소화하고 각종 부담을 완화하는 것을 목표로 합니다.
'킬레치코'의 구체적인 계획, 기대 효과, 추진 일정 등 자세한 내용은 경제부 공식 웹사이트에서 확인할 수 있습니다. 경제부는 앞으로의 개혁 추진을 위해 관련 내용을 공개하고 기업과 국민의 의견을 수렴하고 있으며, 이를 통해 경제 활동과 성장에 더욱 유리한 환경을 조성하고자 합니다. 발표 초기부터 긍정적인 반응을 얻고 있습니다.
Micro, small and medium-sized enterprises - family businesses beware!
家族経営の中小企業に警鐘
中小微企业与家族企业须警惕
가족 경영 소상공인·중소기업, 각별한 주의 요망.
11.10.2021
There's an opportunity to receive free expert advice in various areas supporting the management and development of your company. The consultation focuses on expanding and improving market position, ge
기업의 경영과 발전을 지원하는 다양한 분야의 전문가 컨설팅을 무료로 받을 기회를 드립니다. 본 컨설팅은 시장 입지 확장 및 개선, 세대 교체, 가족 구성원의 비즈니스 잠재력 개발, 자산 승계, 팬데믹 위기 영향 대응 등 핵심 분야에 중점을 둡니다. 총 30만 유로의 예산이 배정되었으며, 가족 기업당 최대 2만 5천 유로 상당의 컨설팅 서비스를 지원받을 수
There's an opportunity to receive free expert advice in various areas supporting the management and development of your company. The consultation focuses on expanding and improving market position, generational change, developing the potential of family members in business, succession in terms of assets, and addressing the impacts of the pandemic crisis. A total of EUR 300,000 has been allocated to this call, with the value of consulting services provided to a family business reaching up to EUR 25,000. The deadline for submitting applications is October 14, 2021, at 11:59 PM. Contact them if you're interested, and they will gladly help you promptly with completing the application.
Summary:
Family businesses have the chance to receive up to €25,000 worth of free expert consultation, with a total of €300,000 allocated to this initiative. The consultation covers key areas like market expansion, generational transitions, developing family members' potential within the business, asset succession planning, and addressing the economic impact of the recent pandemic. The offer aims to support the effective management and sustainable development of family-owned companies. The application deadline is October 14, 2021, at 11:59 PM, and assistance is available to guide applicants through the process. This program provides valuable resources to family businesses facing diverse challenges and opportunities.
기업의 경영과 발전을 지원하는 다양한 분야의 전문가 컨설팅을 무료로 받을 기회를 드립니다. 본 컨설팅은 시장 입지 확장 및 개선, 세대 교체, 가족 구성원의 비즈니스 잠재력 개발, 자산 승계, 팬데믹 위기 영향 대응 등 핵심 분야에 중점을 둡니다. 총 30만 유로의 예산이 배정되었으며, 가족 기업당 최대 2만 5천 유로 상당의 컨설팅 서비스를 지원받을 수 있습니다. 신청 마감일은 2021년 10월 14일 오후 11시 59분입니다. 관심 있는 기업은 문의 주시면 신청서 작성을 신속하고 친절하게 도와드리겠습니다.
요약:
가족 기업을 대상으로 최대 2만 5천 유로 상당의 전문가 무료 컨설팅을 지원합니다. 총 지원 규모는 30만 유로입니다. 컨설팅 분야는 시장 확장, 세대 교체, 가족 구성원 역량 개발, 자산 승계 계획, 팬데믹 위기 극복 등 기업 경영과 지속 가능한 발전에 필요한 핵심 영역을 포함합니다. 본 프로그램은 가족 기업의 효과적인 경영과 성장을 돕기 위해 마련되었습니다. 신청 마감은 2021년 10월 14일 오후 11시 59분이며, 신청 절차에 대한 도움이 필요하시면 언제든지 지원해 드립니다. 이 프로그램은 다양한 도전과 기회에 직면한 가족 기업에 귀중한 자원을 제공할 것입니다.
This year's annual awards for outstanding business achievements will be held in the categories of: Company of the Year, Bank of the Year, Insurance Company of the Year, Manager of the Year, and Invest
올해의 우수 기업 성과를 위한 연례 시상식이 개최됩니다. 시상 부문은 '올해의 기업', '올해의 은행', '올해의 보험사', '올해의 경영자', '올해의 투자자'입니다. 저희 기업은 작년에 이어 올해도 '올해의 납세자' 부문을 후원합니다. 본 시상식에서는 올해의 납세자 순위를 선정하여 우수 기업에 상을 수여하며, 2021년 11월 9일 브라티슬라바의 슬로바
This year's annual awards for outstanding business achievements will be held in the categories of: Company of the Year, Bank of the Year, Insurance Company of the Year, Manager of the Year, and Investor of the Year. Our company will once again sponsor the Taxpayer of the Year category. We will compile a ranking of taxpayers of the year, present awards to the best in business, and possibly meet in person at the gala evening, which will take place on November 9, 2021, in the New Building of the Slovak National Theatre – Drama Hall in Bratislava.
Summary:
The annual awards recognizing outstanding business achievements across various categories are scheduled for this year. Key categories include Company, Bank, Insurance Company, Manager, and Investor of the Year. Notably, our company is sponsoring the Taxpayer of the Year category. The event will involve creating a ranking of top taxpayers, awarding the winners, and potentially hosting a gala event on November 9, 2021, at the Slovak National Theatre in Bratislava. The event aims to celebrate and acknowledge excellence within the business sector, specifically highlighting remarkable accomplishments in these designated fields.
올해의 우수 기업 성과를 위한 연례 시상식이 개최됩니다. 시상 부문은 '올해의 기업', '올해의 은행', '올해의 보험사', '올해의 경영자', '올해의 투자자'입니다. 저희 기업은 작년에 이어 올해도 '올해의 납세자' 부문을 후원합니다. 본 시상식에서는 올해의 납세자 순위를 선정하여 우수 기업에 상을 수여하며, 2021년 11월 9일 브라티슬라바의 슬로바키아 국립극장 신관 드라마 홀에서 열리는 갈라 디너에서 직접 만나 뵐 수 있기를 바랍니다.
요약:
다양한 부문에서 뛰어난 비즈니스 성과를 이룬 기업을 선정하는 연례 시상식이 올해 개최될 예정입니다. 주요 시상 부문으로는 '올해의 기업', '은행', '보험사', '경영자', '투자자' 부문이 있습니다. 특히 저희 기업은 '올해의 납세자' 부문을 후원합니다. 이번 행사는 우수 납세자 순위 선정, 수상자 시상 순으로 진행되며, 2021년 11월 9일 브라티슬라바의 슬로바키아 국립극장에서 갈라 행사가 열릴 수 있습니다. 본 행사는 비즈니스 부문의 우수성을 기념하고, 지정된 분야에서 이룩한 눈부신 성과를 조명하는 것을 목표로 합니다.
Want to learn more about the financial and tax benefits of a family holding company? Don't miss the webinar on this topic organized by IRB Slovakia. During the webinar, partner and advisor Martin Kiňo
가족 지주회사의 재무 및 세금 혜택에 대해 더 자세히 알고 싶으신가요? IRB Slovakia가 주최하는 웨비나를 놓치지 마세요. 이번 웨비나에서는 파트너이자 자문위원인 마틴 키뇨(Martin Kiňo)가 기업 재무 효율화, 세금 부담 최적화, 그리고 원활한 가업 승계를 위한 실질적인 조언을 제공합니다.
웨비나에서는 가족 지주회사의 효과적인 설립 방법,
Want to learn more about the financial and tax benefits of a family holding company? Don't miss the webinar on this topic organized by IRB Slovakia. During the webinar, partner and advisor Martin Kiňo will offer practical advice on how to streamline corporate finances, optimize tax burden, and prepare the company for a smooth intergenerational transfer.
The webinar will cover practical advice focused on: effectively structuring a family holding company; avoiding the fragmentation of strategic assets in future generations; and practical examples of the benefits of a holding company from a financial and tax perspective.
The "Family Business Talk" with Martin Kiňo, partner at Moore BDR, will be held on Thursday, October 14, 2021, at 6:00 PM.
If you missed the talk with Martin Kiňa about the structure and benefits of a family holding, you can access a recording by providing your email address.
Register for the free talk via the link provided.
Summary:
IRB Slovakia is hosting a webinar featuring Martin Kiňo of Moore BDR, focusing on the financial and tax advantages of family holding companies. The webinar aims to provide practical guidance on structuring family holdings effectively, preventing asset fragmentation across generations, and illustrating financial and tax benefits. Topics will include efficient structuring, preventing asset dilution, and practical case studies of financial and tax advantages. The event took place on October 14, 2021. A recording is available to those who provide their email address. The webinar offers valuable insights for businesses aiming for smooth intergenerational transitions and optimized financial management through the family holding structure. It aims to guide how to set up and make family holding work and avoid future problems.
가족 지주회사의 재무 및 세금 혜택에 대해 더 자세히 알고 싶으신가요? IRB Slovakia가 주최하는 웨비나를 놓치지 마세요. 이번 웨비나에서는 파트너이자 자문위원인 마틴 키뇨(Martin Kiňo)가 기업 재무 효율화, 세금 부담 최적화, 그리고 원활한 가업 승계를 위한 실질적인 조언을 제공합니다.
웨비나에서는 가족 지주회사의 효과적인 설립 방법, 다음 세대로의 핵심 자산 분산 방지 방안, 재무 및 세금 관점에서의 지주회사 혜택에 대한 실제 사례 등 실용적인 내용을 다룰 예정입니다.
Moore BDR의 파트너, 마틴 키뇨와 함께하는 '패밀리 비즈니스 토크'는 2021년 10월 14일 목요일 오후 6시에 진행됩니다.
마틴 키뇨의 가족 지주회사 구조 및 혜택에 대한 강연을 놓치셨더라도, 이메일 주소를 등록하시면 녹화 영상을 다시 보실 수 있습니다.
제공된 링크를 통해 무료 강연에 등록하세요.
요약:
IRB Slovakia는 Moore BDR의 마틴 키뇨 전문가를 초청하여 가족 지주회사의 재무 및 세금 혜택에 초점을 맞춘 웨비나를 개최합니다. 이 웨비나는 가족 지주회사를 효과적으로 설립하고, 세대 간 자산 분산을 방지하며, 재무 및 세금 혜택을 구체적인 사례로 설명하는 등 실질적인 가이드를 제공하는 것을 목표로 합니다. 주요 내용으로는 효율적인 지주회사 구조 설계, 자산 분산 방지, 그리고 재무 및 세금 혜택에 대한 실제 사례 분석이 포함됩니다. 본 행사는 2021년 10월 14일에 진행되었으며, 이메일 주소를 등록하면 녹화 영상을 시청할 수 있습니다. 이 웨비나는 가족 지주회사 구조를 통해 원활한 가업 승계와 최적화된 재무 관리를 목표로 하는 기업들에게 유용한 통찰력을 제공하며, 가족 지주회사를 성공적으로 설립 및 운영하고 미래에 발생할 수 있는 문제들을 예방하는 방법을 안내합니다.
The 2nd International Congress of Family Businesses, organized by the Institute of Family Business (IRB), took place in September 2021 near Bratislava. Over 200 attendees, including family business ow
가족기업연구소(IRB)가 주최한 제2회 국제 가족기업 총회가 2021년 9월 브라티슬라바 인근에서 개최되었습니다. 하루 동안 진행된 이 행사에는 슬로바키아 국내외 가족기업 소유주, 전문가, 파트너, 언론 관계자 등 200명 이상이 참석했습니다. 6명의 전문 연사들은 가족기업 경영, 마케팅, 그리고 핵심 주제인 승계 계획 등에 대한 경험을 공유했습니다.
총
The 2nd International Congress of Family Businesses, organized by the Institute of Family Business (IRB), took place in September 2021 near Bratislava. Over 200 attendees, including family business owners, experts, partners, and media representatives from Slovakia and abroad, participated in the one-day event. Six expert speakers shared their experiences on topics such as managing family businesses, marketing, and, crucially, succession planning.
The congress featured an online video interview with Zengoro Hoshi, successor of the world's oldest family-run hotel, Hoshi Ryokan in Japan. He emphasized the importance of securing successors, whether through family or adoption, for the survival of family firms. Adrianna Lewandowska, president of the Polish Institute of Family Business, highlighted that many smaller firms don't identify as family businesses and dispelled the misconception that they are less professional than corporations, citing examples like Walmart and Adidas. She also presented the concept of a Family Constitution. A unique publication on succession planning, "Generational Exchange Step by Step," was also introduced. Ján Oravec, State Secretary of the Ministry of Economy, announced the upcoming definition of a family firm in Slovakia. Digital marketing consultant Paolo Ramazzotti advised on social media strategies for family businesses. Gabriela Končitíková shared the Bata company's succession secret: every key manager had a replaceable counterpart. Martin Kiňo led a workshop on the financial advantages of family holdings, explaining the benefits of establishing such structures despite the current legislative gaps in Slovakia.
가족기업연구소(IRB)가 주최한 제2회 국제 가족기업 총회가 2021년 9월 브라티슬라바 인근에서 개최되었습니다. 하루 동안 진행된 이 행사에는 슬로바키아 국내외 가족기업 소유주, 전문가, 파트너, 언론 관계자 등 200명 이상이 참석했습니다. 6명의 전문 연사들은 가족기업 경영, 마케팅, 그리고 핵심 주제인 승계 계획 등에 대한 경험을 공유했습니다.
총회에서는 세계에서 가장 오래된 가족 경영 호텔인 일본 호시 료칸의 후계자 젠고로 호시와의 온라인 화상 인터뷰가 있었습니다. 그는 가족기업의 존속을 위해서는 혈연이나 입양을 통해서라도 후계자를 확보하는 것이 중요하다고 강조했습니다. 폴란드 가족기업연구소의 아드리아나 레반도프스카 회장은 많은 소규모 기업들이 스스로를 가족기업으로 여기지 않는 현실을 지적하고, 월마트나 아디다스와 같은 사례를 들며 가족기업이 대기업보다 전문성이 떨어진다는 오해를 바로잡았습니다. 또한 '가족 헌장'이라는 개념도 소개했습니다. 승계 계획을 다룬 특별한 출판물인 『단계별 세대 교체』도 공개되었습니다. 얀 오라벡 경제부 차관은 슬로바키아에서 곧 가족기업에 대한 법적 정의가 마련될 것이라고 발표했습니다. 디지털 마케팅 컨설턴트 파올로 라마조티는 가족기업을 위한 소셜 미디어 전략을 조언했습니다. 가브리엘라 콘치티코바는 모든 핵심 관리자에게 대체 가능한 인력을 두었던 것이 바타(Bata) 기업의 승계 비결이었다고 밝혔습니다. 마르틴 키뇨는 워크숍을 통해, 슬로바키아에 관련 법규가 미비함에도 불구하고 가족 지주회사를 설립할 경우 얻을 수 있는 재정적 이점에 대해 설명했습니다.
Are you unsure if you need an audit for 2021 and 2022? The Slovak National Council approved Law No. 198/2020, amending the requirements for auditing individual financial statements. Effective January
2021년과 2022년 회계감사가 필요한지 확실하지 않으신가요? 슬로바키아 법률(No. 198/2020) 개정에 따라 개별 재무제표에 대한 외부감사 요건이 변경되었습니다. 2021년 1월 1일과 2022년 1월 1일부터 의무 감사 대상 기업의 규모 기준이 조정되었습니다.
2021년 의무 감사 대상은 다음 세 가지 기준 중 두 가지 이상을 충족하는 경우입니
Are you unsure if you need an audit for 2021 and 2022? The Slovak National Council approved Law No. 198/2020, amending the requirements for auditing individual financial statements. Effective January 1, 2021, and January 1, 2022, the size criteria for mandatory audits were adjusted.
For 2021, an audit is required if a company exceeds two of the following criteria: total assets over €3,000,000, net turnover over €6,000,000, or an average of more than 40 employees. For 2022, the thresholds increase to €4,000,000 in assets, €8,000,000 in turnover, and 50 employees. These criteria are assessed based on the accounting period in which the period began and the previous period.
Even without a legal obligation, a voluntary audit can benefit a company by enhancing financial reliability and trust with stakeholders, identifying risks, improving internal controls, and providing assurance to management. It also helps verify tax accuracy, offers insights from auditors' industry experience, and can be beneficial when seeking loans. An example illustrates how these criteria apply to a company with a non-calendar fiscal year, demonstrating the assessment process for audit obligations. The article encourages readers to seek their services for mandatory or voluntary audits.
2021년과 2022년 회계감사가 필요한지 확실하지 않으신가요? 슬로바키아 법률(No. 198/2020) 개정에 따라 개별 재무제표에 대한 외부감사 요건이 변경되었습니다. 2021년 1월 1일과 2022년 1월 1일부터 의무 감사 대상 기업의 규모 기준이 조정되었습니다.
2021년 의무 감사 대상은 다음 세 가지 기준 중 두 가지 이상을 충족하는 경우입니다: 총자산 300만 유로 초과, 매출액 600만 유로 초과, 또는 평균 임직원 수 40명 초과. 2022년부터는 이 기준이 총자산 400만 유로, 매출액 800만 유로, 평균 임직원 수 50명으로 상향 조정됩니다. 감사 대상 여부는 해당 사업연도와 그 직전 사업연도의 재무 상태를 기준으로 판단합니다.
법적 의무가 없더라도 임의 감사를 통해 기업은 다양한 이점을 얻을 수 있습니다. 재무 정보의 신뢰도를 높여 이해관계자와의 신뢰를 구축하고, 잠재적 리스크를 발견하며, 내부통제 시스템을 강화하고, 경영진의 의사결정에 확신을 더할 수 있습니다. 또한 세무 신고의 정확성을 검증하고, 감사인의 산업 전문성을 통해 경영에 대한 통찰력을 얻을 수 있으며, 금융기관 대출 신청 시 유리하게 작용할 수 있습니다. 예를 들어, 회계 기간이 일반적인 1~12월이 아닌 경우에도 이 기준을 어떻게 적용하여 감사 의무를 판단하는지 명확히 알 수 있습니다. 의무 감사 또는 임의 감사 관련 서비스가 필요하시면 언제든지 문의해 주십시오.
Support for state-owned rental housing and other proposed legislative changes
公営賃貸住宅への支援とその他の法改正案
支持国有租赁住房及其他拟议的立法调整
국영 임대주택 지원 및 기타 입법 개정 제안
30.08.2021
On May 28, 2021, a bill supporting state-subsidized rental housing and amending related laws was submitted to the National Council of the Slovak Republic. The bill aims to address the issue of housing
2021년 5월 28일, 슬로바키아 공화국 의회에 국가 지원 임대 주택을 활성화하고 관련 법률을 개정하는 법안이 제출되었습니다. 이 법안은 폭넓은 계층의 주거비 부담을 줄이고 주택 접근성을 높이는 것을 목표로 합니다.
법안의 핵심 내용 중 하나는 고용주가 직원에게 주택 수당을 지급하는 '국가 지원 임대 주택 수당' 제도 도입입니다. 수당은 주택 면적 1제
On May 28, 2021, a bill supporting state-subsidized rental housing and amending related laws was submitted to the National Council of the Slovak Republic. The bill aims to address the issue of housing affordability and accessibility for a broad range of the population.
A key element is the introduction of a state-supported rental housing allowance, capped at €4 per square meter of floor space and a maximum of €360 per month, to be provided by employers. Employees can only claim this allowance from one employer per month. The allowance is proposed to be tax-exempt and considered a tax-deductible expense for employers.
The bill also proposes reducing the depreciation period for buildings used for state-subsidized rental housing from 40 to 20 years. It suggests income from the sale of mutual fund shares held for over 36 months to be tax-free. Additionally, a reduced VAT rate of 5% is proposed for the supply of buildings (including land and parking spaces), renovations, and reconstructions intended for state-subsidized rental housing, provided the recipient is a state-supported rental housing landlord with a building operation agreement.
The bill also aims to remove restrictions on the option to choose taxation for the supply of buildings intended for state-supported rental housing, allowing VAT payers to opt for taxation on previously tax-exempt properties.
The bill will undergo interdepartmental review, with a deadline for discussion in committees set for mid-September 2021.
2021년 5월 28일, 슬로바키아 공화국 의회에 국가 지원 임대 주택을 활성화하고 관련 법률을 개정하는 법안이 제출되었습니다. 이 법안은 폭넓은 계층의 주거비 부담을 줄이고 주택 접근성을 높이는 것을 목표로 합니다.
법안의 핵심 내용 중 하나는 고용주가 직원에게 주택 수당을 지급하는 '국가 지원 임대 주택 수당' 제도 도입입니다. 수당은 주택 면적 1제곱미터당 4유로, 월 최대 360유로까지 지원됩니다. 직원은 한 달에 한 곳의 직장에서만 이 수당을 받을 수 있으며, 지급된 수당은 세금이 면제됩니다. 고용주는 지급한 수당을 비용으로 처리하여 세금 감면 혜택을 받게 됩니다.
또한, 법안에는 여러 세제 혜택이 포함되어 있습니다. 국가 지원 임대 주택으로 사용되는 건물의 감가상각 기간을 기존 40년에서 20년으로 단축하고, 36개월 이상 장기 보유한 뮤추얼 펀드 주식의 매매 차익에 대해서는 비과세 혜택을 부여합니다. 더불어, 정부와 운영 계약을 맺은 임대 사업자가 임대 주택을 건설하거나 공급, 개보수할 경우 5%의 낮은 부가가치세율을 적용받게 됩니다.
이 밖에도, 기존에 세금이 면제되던 임대 주택 공급에 대해 사업자가 원할 경우 과세 대상으로 선택할 수 있도록 허용하여 부가가치세 관련 규제를 완화하는 내용도 담겼습니다.
해당 법안은 관계 부처의 검토를 거칠 예정이며, 2021년 9월 중순까지 위원회에서 논의될 계획입니다.
Slovakia implemented "Kurzarbeit" (short-time work) from January 1, 2022, through a law supporting reduced working hours. This aims to aid both employers and employees during crises when employers can
슬로바키아는 2022년 1월 1일부터 단축근무 지원 제도를 시행했습니다. 이 제도는 외부 요인으로 인해 고용주가 근로자에게 정상적으로 일을 맡길 수 없는 위기 상황에서 고용주와 근로자 모두를 지원하기 위한 것입니다. 이 제도를 위한 보험료를 납부한 고용주가 지원 대상이며, 보험료는 고용주가 내는 실업 보험료의 일부로, 기존 1% 중 0.5%는 단축근무 지원
Slovakia implemented "Kurzarbeit" (short-time work) from January 1, 2022, through a law supporting reduced working hours. This aims to aid both employers and employees during crises when employers cannot assign work due to external factors. Employers who pay insurance for this scheme are eligible. This insurance is part of the unemployment insurance, with the employer's 1% contribution split into 0.5% for short-time work support and 0.5% for unemployment insurance.
If external factors like emergencies, states of exception, or force majeure prevent employers from providing work, they can apply for "Kurzarbeit" support from the Social Insurance Agency via the Labor, Social Affairs and Family Office. This support is then used to pay employee wage compensation. External factors exclude war, seasonality, restructuring, or planned shutdowns.
Eligible employers are both individuals and legal entities under specific Social Insurance Act provisions. Eligible employees are those in employment or civil service, or under contract for professional sports. A key condition is that at least one-third of employees cannot be assigned work for at least 10% of their weekly hours. Employers must have paid social insurance and pension contributions for 24 months, not have violated illegal employment bans, and have a written agreement with employee representatives (or employees) or an arbitrator's approval to apply for support.
The support covers 60% of the average hourly earnings for each hour of work obstacle, but is capped, and employers must pay employees at least 80% of their average earnings (or the minimum wage). Support is provided for a maximum of 6 months within 24 consecutive months, and employers must maintain the supported job for at least 2 months after the period of work obstacle.
슬로바키아는 2022년 1월 1일부터 단축근무 지원 제도를 시행했습니다. 이 제도는 외부 요인으로 인해 고용주가 근로자에게 정상적으로 일을 맡길 수 없는 위기 상황에서 고용주와 근로자 모두를 지원하기 위한 것입니다. 이 제도를 위한 보험료를 납부한 고용주가 지원 대상이며, 보험료는 고용주가 내는 실업 보험료의 일부로, 기존 1% 중 0.5%는 단축근무 지원금으로, 나머지 0.5%는 실업 보험 기금으로 적립됩니다.
비상사태, 국가적 위기, 천재지변과 같은 외부 요인으로 업무 제공이 불가능해지면, 고용주는 노동사회복지청을 통해 사회보험공단에 지원금을 신청할 수 있습니다. 이 지원금은 근로자의 임금을 보전하는 데 사용됩니다. 다만, 전쟁, 계절적 요인, 기업 구조조정, 계획된 공장 가동 중단 등은 외부 요인에서 제외됩니다.
지원 대상 고용주는 개인 및 법인 사업자 모두 해당되며, 지원 대상 근로자는 일반 고용계약자, 공무원, 프로 스포츠 선수 등입니다. 핵심 신청 조건 중 하나는, 전체 근로자의 3분의 1 이상이 주당 소정근로시간의 10% 이상을 일할 수 없는 상황이어야 합니다. 또한 고용주는 최소 24개월 이상 사회보험료를 성실히 납부하고, 불법 고용 관련 규정을 위반한 사실이 없어야 하며, 근로자 대표(또는 근로자)와 서면으로 합의하거나 중재인의 승인을 받아야 합니다.
지원금은 근로자가 일하지 못하는 시간당 평균 임금의 60%이며, 상한선이 정해져 있습니다. 하지만 고용주는 근로자에게 평균 임금의 최소 80%(또는 최저임금) 이상을 지급해야 합니다. 지원은 연속 24개월 이내 최대 6개월까지 가능하며, 지원을 받은 고용주는 단축근무 기간 종료 후 최소 2개월간 해당 근로자의 고용을 유지해야 합니다.
Dear friends and members of family businesses, you are cordially invited to the 2nd International Congress of Family Businesses, themed "Strong Family – Strong Company," on September 8, 2021, from 8:0
"튼튼한 가족, 튼튼한 기업"을 주제로 열리는 제2회 국제 가족 기업 컨퍼런스에 여러분을 초대합니다. 행사는 2021년 9월 8일, 오전 8시부터 오후 5시까지 진행됩니다.
※ 중요: 장소가 변경되었습니다. 코로나19 상황 변화에 따라, 행사 장소가 카슈티엘 스투데네(Kaštieľ Studené)로 이전되었으니 참고 바랍
Dear friends and members of family businesses, you are cordially invited to the 2nd International Congress of Family Businesses, themed "Strong Family – Strong Company," on September 8, 2021, from 8:00 AM to 5:00 PM. Note the location change! Due to the evolving pandemic situation, the congress has been moved to Kaštieľ Studené.
The congress offers a program featuring Slovak and international experts who will share their experiences, knowledge, and innovative ideas on family business topics. Key themes include support for family entrepreneurship in Slovakia, innovative development strategies, establishing family councils and constitutions, implementing values in management, inheritance planning, family holdings, and legal protection of family assets, among others.
The event provides an opportunity to connect with other family businesses, forge collaborations, exchange experiences, and join an international community dedicated to professionalizing family businesses and strengthening families. A 10% discount on tickets is available for family businesses using the code BDR10 during purchase. The organizers hope attendees will gain valuable contacts and inspiration for their family firms.
가족 기업을 대상으로 다음과 같은 분야에 경험을 갖춘 전문가의 컨설팅을 제공합니다: 세대 교체 및 승계
**Assistance Scheme:**
Family Business Support Scheme (DM-20/2021) (de minimis aid scheme)
**Allocation:** EUR 500,000
**Duration:** Max. 4 months (11/2021 – 02/2022)
**Activities:**
Support will be provided as expert advice to family firms from experts with experience in areas such as: generational change and succession planning (managerial and asset-related), addressing the impact of the COVID-19 crisis on family businesses, self-crisis leadership, organizational and personnel adjustments, talent management, succession strategies, career development plans, family rules for intergenerational transfers, conflict management, and leadership development during crises.
**Eligibility:**
Eligible applicants are natural and legal persons authorized to conduct business under the Commercial Code, qualifying as micro, small, or medium-sized enterprises, and meeting the definition of a family business. A family business is defined as a group of individuals connected by blood, legal ties (adoption, marriage), or personal relationships, aiming for mutual dependence and fulfilling at least one of the following conditions: owning over 50% of shares/votes, having the ability to assert their will, holding control functions, or holding management functions within the company.
**Eligible Location:**
The entire territory of the Slovak Republic is considered an eligible location for project implementation.
**Eligible Costs:**
Advisory service costs are covered up to EUR 25,000 per family business per budget year. This includes the number of advisory hours provided multiplied by the total cost of the expert's work.
**Summary:**
The Family Business Support Scheme, with a budget of EUR 500,000, offers expert advice to family businesses in Slovakia between November 2021 and February 2022. The scheme covers areas like succession planning, crisis management due to COVID-19, and organizational development. Eligible businesses must be SMEs meeting the family business definition, involving individuals linked by blood, legal ties, or close relationships, and holding significant ownership or influence. The entire Slovak Republic is eligible, and advisory costs up to EUR 25,000 per business per year are covered, based on expert hourly rates. Interested parties should fill out the form on www.moore-bdr.sk.
가족 기업을 대상으로 다음과 같은 분야에 경험을 갖춘 전문가의 컨설팅을 제공합니다: 세대 교체 및 승계 계획(경영권, 자산 관련), 코로나19 위기 영향 대응, 위기 상황의 리더십, 조직 및 인사 개편, 인재 관리, 승계 전략, 경력 개발 계획, 세대 간 승계를 위한 가족 규범, 갈등 관리, 위기 시 리더십 개발 등.
**지원 자격:**
상법에 따라 사업 허가를 받은 개인 또는 법인으로, 중소기업 및 가족 기업의 정의에 부합해야 합니다. 가족 기업이란 혈연, 법적 관계(입양, 결혼 등) 또는 개인적 친분으로 연결된 사람들이 상호 의존을 목표로 하는 기업을 의미하며, 아래 조건 중 하나 이상을 충족해야 합니다: * 지분 또는 의결권 50% 초과 소유 * 주요 의사 결정권 보유 * 기업의 주요 통제 기능 담당 * 기업의 주요 경영 기능 담당
**지원 대상 지역:**
슬로바키아 공화국 전역
**지원 비용:**
가족 기업당 연간 최대 25,000유로의 전문가 자문 비용을 지원합니다. 지원금은 전문가의 총 업무 시간에 시간당 비용을 곱하여 산정됩니다.
**요약:**
본 제도는 총 50만 유로 예산으로, 2021년 11월부터 2022년 2월까지 슬로바키아 내 가족 기업을 대상으로 전문가 컨설팅을 제공합니다. 주요 지원 분야는 기업 승계 계획, 코로나19 위기 대응, 조직 관리 등입니다. 지원 대상은 중소기업이면서 가족 기업의 정의(혈연, 법적 관계 등으로 연결된 구성원이 기업의 소유권이나 경영에 상당한 영향력을 행사)를 충족하는 기업입니다. 슬로바키아 전역에서 신청 가능하며, 기업당 연간 최대 25,000유로의 자문 비용을 지원합니다. 신청을 원하시는 경우 www.moore-bdr.sk 웹사이트의 양식을 작성해 주시기 바랍니다.
Changes to the Labor Code and their Impact on the Employer and Employee
労働法改正の使用者および労働者への影響
劳动法修订对劳资双方的影响
노동법 개정이 사용자와 근로자에게 미치는 영향
27.07.2021
The amendment to the Labor Code, effective from March 1, 2021, and January 1, 2022, introduces several changes. Employees can now choose between meal vouchers and a financial contribution to meals, wi
2021년 3월 1일 및 2022년 1월 1일부터 시행되는 개정 노동법에 따라 몇 가지 주요 사항이 변경됩니다. 근로자는 식권 또는 식대 지원금 중 하나를 선택할 수 있으며, 지원금액은 법정 최소 식권 가치의 55% 이상이어야 합니다. 기존에 식권 계약을 맺은 고용주는 계약이 만료될 때까지는 예외가 적용되지만, 늦어도 2023년 1월 1일까지는 전자 식권
The amendment to the Labor Code, effective from March 1, 2021, and January 1, 2022, introduces several changes. Employees can now choose between meal vouchers and a financial contribution to meals, with the amount being at least 55% of the minimum value of a meal voucher. Employers who already have voucher contracts are exempt until those expire, but no later than January 1, 2023, is when electronic meal vouchers are planned. Temporary assignment of employees between parent and subsidiary companies is simplified, removing the requirement for objective operational reasons and a minimum employment period if the assignment is unpaid.
The definition of an employee permanently caring for a child is clarified, affecting vacation entitlement. Employees personally caring for a child, including through shared custody, are entitled to five weeks of vacation. Regular work from home, whether termed homeworking or teleworking, must be agreed upon in the employment contract. Employees have the right to disconnect, are treated equally to on-site staff, and employers may be obligated to cover increased expenses. The trial period is extended by any full-day absences of the employee.
Employers can now terminate employment when an employee turns 65 and is eligible for a retirement pension. Fifteen-year-olds who haven't completed compulsory education can be employed for light work with labor inspectorate permission. Students retain their student status until October 31st of the year they graduate. Disputes about trade union representation at a workplace are resolved by an arbitrator appointed by mutual agreement or by the Ministry of Labour, Social Affairs and Family.
2021년 3월 1일 및 2022년 1월 1일부터 시행되는 개정 노동법에 따라 몇 가지 주요 사항이 변경됩니다. 근로자는 식권 또는 식대 지원금 중 하나를 선택할 수 있으며, 지원금액은 법정 최소 식권 가치의 55% 이상이어야 합니다. 기존에 식권 계약을 맺은 고용주는 계약이 만료될 때까지는 예외가 적용되지만, 늦어도 2023년 1월 1일까지는 전자 식권 제도를 도입해야 합니다. 또한, 모회사와 자회사 간의 직원 파견 절차가 간소화되어 무급 파견의 경우, 객관적인 경영상 사유나 최소 재직 기간 등의 요건이 폐지됩니다.
자녀를 상시 돌보는 근로자의 정의가 명확해져 휴가 부여 기준에 영향을 미칩니다. 공동 양육을 포함해 자녀를 직접 돌보는 근로자는 5주의 휴가를 받을 수 있습니다. 재택근무나 원격근무와 같은 정기적인 자택 근무는 반드시 근로계약서에 명시되어야 합니다. 재택근무자는 '연결되지 않을 권리'를 가지며, 사무실 근무자와 동등한 대우를 받습니다. 또한, 고용주는 재택근무로 인해 발생하는 추가 비용을 부담해야 할 수 있습니다. 수습 기간 중 근로자가 하루 단위로 결근한 경우, 해당 일수만큼 수습 기간이 연장됩니다.
근로자가 만 65세가 되어 정년 연금을 수급할 자격이 생기면, 고용주는 고용 계약을 해지할 수 있습니다. 의무 교육을 마치지 않은 만 15세 청소년도 노동 감독 기관의 허가를 받으면 가벼운 업무에 종사할 수 있습니다. 학생은 졸업한 해의 10월 31일까지 학생 신분을 유지합니다. 사업장 내 노동조합 대표성과 관련된 분쟁은 노사 합의 또는 노동사회부가 지정한 중재인을 통해 해결됩니다.
Short-time work scheme "Kurzarbeit" effective from 01/01/2022
短時間労働制度(クルツアルバイト)、2022年1月1日より施行
短时工作方案(Kurzarbeit)自2022年1月1日起生效。
단축 근무 제도(Kurzarbeit), 2022년 1월 1일부터 시행
19.07.2021
On May 4, 2021, the National Council of the Slovak Republic approved Act No. 215/2021 Coll. on support during short-time work, effective from January 1, 2022. This act amends Sections 9 and 13 of Act
2021년 5월 4일, 슬로바키아 국회는 단축근무 지원에 관한 법률(제215/2021호)을 승인했으며, 이 법은 2022년 1월 1일부터 시행됩니다. 이로 인해 기존 소득세법(제595/2003호)의 제9조 및 제13조가 개정되었습니다.
개정된 법의 핵심 내용은 단축근무 지원금을 개인과 법인 모두에게 소득세가 면제되는 비과세 소득으로 규정한 것입니다. 이
On May 4, 2021, the National Council of the Slovak Republic approved Act No. 215/2021 Coll. on support during short-time work, effective from January 1, 2022. This act amends Sections 9 and 13 of Act No. 595/2003 Coll. on income tax.
The amendment states that support during short-time work is considered income exempt from tax for both individuals and legal entities. This support aims to partially cover employers' wage costs when an external factor limits their operations. An external factor is defined as a temporary, unavoidable event with a negative impact on work allocation, such as a state of emergency or force majeure, excluding war, seasonal work, or planned shutdowns.
Because the support provided to employers is tax-exempt income, related expenses incurred by the employer to compensate employees wages are not considered tax-deductible expenses under Section 21 paragraph 1 letter j) of the Income Tax Act.
2021년 5월 4일, 슬로바키아 국회는 단축근무 지원에 관한 법률(제215/2021호)을 승인했으며, 이 법은 2022년 1월 1일부터 시행됩니다. 이로 인해 기존 소득세법(제595/2003호)의 제9조 및 제13조가 개정되었습니다.
개정된 법의 핵심 내용은 단축근무 지원금을 개인과 법인 모두에게 소득세가 면제되는 비과세 소득으로 규정한 것입니다. 이 지원 제도는 예측 불가능한 외부 요인으로 기업 운영에 차질이 생겼을 때, 고용주가 부담하는 인건비의 일부를 보전해주기 위해 마련되었습니다. 여기서 외부 요인이란 국가 비상사태나 불가항력처럼 기업이 피할 수 없고 정상적인 업무 수행을 어렵게 만드는 일시적인 상황을 의미하며, 전쟁, 계절적 업무 변동, 계획된 휴업 등은 이에 해당하지 않습니다.
이처럼 정부로부터 받은 지원금이 비과세 소득이므로, 고용주가 이 지원금을 사용하여 직원에게 임금을 지급한 비용은 소득세법 제21조 제1항 j)호에 따라 사업상 비용으로 인정받아 세금 공제를 받을 수 없습니다.
The article discusses upcoming amendments to the Labor Code and the Tax Code in Slovakia. The Labor Code amendment, expected to be effective from January 1, 2022, addresses issues with meal vouchers,
* **식대 지원 변경**: 고용주는 5~12시간 출장 시 식대의 100%까지 지원할 수 있으며, 최대 5.10유로까지는 세금이 면제됩니다. * **식대 소급 지급 허용**: 예측하지 못한 상황으로 인해 식권이나 식대 지원금 계산에 문제가 생긴
The article discusses upcoming amendments to the Labor Code and the Tax Code in Slovakia. The Labor Code amendment, expected to be effective from January 1, 2022, addresses issues with meal vouchers, allowing employers to contribute up to 100% of the meal allowance for business trips (5-12 hours), capped at €5.10 with tax and levy exemptions. It also permits retroactive meal voucher and financial contribution payments to alleviate calculation issues due to unforeseen circumstances. Self-employed individuals can claim €5.10 for meals per workday without needing to provide proof.
The Tax Code amendment proposes several changes, including abolishing registration cards, reducing the binding opinion fee to €1,000 (or €500 for highly reliable taxpayers), introducing a tax reliability index with associated benefits and drawbacks, and implementing a mechanism to exclude individuals who severely breach tax obligations from holding statutory positions in companies. Other changes include eliminating summary protocols, requiring evidence for excused absences from tax proceedings, enabling joint acts for evidence collection, allowing witness and expert testimony via videoconference, streamlining the delivery of tax assessment protocols, clarifying tax debt extinction, and addressing bank account registration and VAT liability. VAT payers will be required to register their bank accounts for business use with the Financial Directorate, and the Directorate will publish and update these accounts daily. Purchasers will have the ability to pay VAT liability of sellers to the tax office directly, in the event the seller fails to do so. Most of these changes are expected to be effective from January 1, 2022, with bank account registration required by November 30, 2021.
* **식대 지원 변경**: 고용주는 5~12시간 출장 시 식대의 100%까지 지원할 수 있으며, 최대 5.10유로까지는 세금이 면제됩니다. * **식대 소급 지급 허용**: 예측하지 못한 상황으로 인해 식권이나 식대 지원금 계산에 문제가 생긴 경우, 이를 소급하여 지급할 수 있습니다. * **자영업자 식대 처리 간소화**: 자영업자는 별도의 증빙 서류 없이 근무일 기준 하루 5.10유로를 식대로 경비 처리할 수 있습니다.
**세법 개정안 주요 내용**
* **납세자 등록 카드 폐지**: 기존의 납세자 등록 카드 제도가 사라집니다. * **유권해석 수수료 인하**: 법규 해석을 요청하는 유권해석 수수료가 1,000유로로 인하되며, 성실 납세자는 500유로가 적용됩니다. * **납세 신뢰도 지수 도입**: 납세자의 신뢰도를 평가하는 지수를 도입하여, 등급에 따라 세무 관련 혜택 또는 불이익을 차등 적용합니다. * **탈세자 임원 자격 제한**: 납세 의무를 심각하게 위반한 사람은 회사의 법적 직위를 맡을 수 없도록 제한하는 제도가 도입됩니다. * **세무 절차 간소화 및 현대화**: * 요약 보고서 제도가 폐지됩니다. * 세무 절차에 불참할 경우, 사유를 입증할 증거를 제출해야 합니다. * 증거 수집을 위한 공동 조치가 가능해집니다. * 증인 및 전문가의 증언을 화상 회의로 진행할 수 있습니다. * 세금 부과 결정서의 전달 절차가 간소화됩니다. * **부가가치세(VAT) 관련 변경**: * 부가가치세 납부자는 사업용 은행 계좌를 금융 당국에 등록해야 합니다. (2021년 11월 30일까지) * 금융 당국은 등록된 계좌 목록을 매일 게시하고 업데이트합니다. * 판매자가 부가가치세를 내지 않을 경우, 구매자가 해당 금액을 세무서에 직접 납부할 수 있는 제도가 도입됩니다.
2022년 1월 1일부터 시행 예정인 회계법 개정안은 토지 조합, 비정부기구(NGO) 등 더 많은 법인을 재무제표 공개 대상에 포함하는 것을 목표로 합니다. 모든 회계 문서는 전자적으로 보관해야 합니다. 이를 통해 문서를 효율적으로 보관하고 더 쉽게 관리할 수 있으며, 처리 과정에서의 오류도 줄일 수 있습니다.
개
**Register of Financial Statements and Accounting Records Electronic Transformation**
A proposed amendment to the Accounting Act, effective from January 1, 2022, aims to expand the public section of the Register of Financial Statements to include additional legal entities, such as land associations and non-governmental organizations. All accounting documents must be stored electronically. This measure promotes efficient storage, easier handling, and reduced errors in processing.
The amendment specifies procedures for converting paper-based documents to electronic formats, allowing scanning, besides guaranteed conversion, under certain conditions to simplify archiving. Explicit guidelines are provided for discarding original paper records after electronic transformation. Furthermore, any electronic signature that allows provable identification of the person can substitute handwritten signatures of the responsible parties.
The amendment includes mandatory content requirements for the annual reports of non-profit organizations, and defines the minimum fine for a person who fails to fulfill the obligations after taking over the responsibilities after the termination of an accounting unit. As the amendment is still under interdepartmental review, changes may occur.
2022년 1월 1일부터 시행 예정인 회계법 개정안은 토지 조합, 비정부기구(NGO) 등 더 많은 법인을 재무제표 공개 대상에 포함하는 것을 목표로 합니다. 모든 회계 문서는 전자적으로 보관해야 합니다. 이를 통해 문서를 효율적으로 보관하고 더 쉽게 관리할 수 있으며, 처리 과정에서의 오류도 줄일 수 있습니다.
개정안은 종이 문서를 전자 문서로 변환하는 절차를 구체적으로 명시하고 있으며, 보관 절차를 간소화하기 위해 특정 조건 하에서는 보증된 변환 방식 외에 스캔을 통한 전자화도 허용합니다. 전자화 이후 원본 종이 문서를 폐기하는 것에 대한 명확한 지침도 포함되어 있습니다. 또한, 서명자의 신원을 증명할 수 있는 모든 전자 서명은 책임자의 자필 서명을 대체할 수 있습니다.
개정안은 비영리 단체의 연차 보고서에 포함되어야 할 필수 기재 사항을 규정하고, 회계 단위의 활동 종료 후 업무를 인계받은 자가 의무를 이행하지 않을 경우 부과되는 최소 과태료 금액을 명시합니다. 해당 개정안은 현재 관계 부처 협의 중이므로, 내용이 변경될 수 있습니다.
Family stability and asset protection are prerequisites for preserving family values.
家族の価値観を守り伝えるためには、家庭の安定と資産の保全が不可欠です。
家庭稳定与财产安全是家族价值得以传承的基石。
가정의 안정과 자산 보호는 가족의 가치를 지키기 위한 필수 조건입니다.
06.07.2021
Experts Erika Matwij and Martin Kiňo from the Association of Family Businesses Partners discuss current topics relevant to family businesses. Succession planning is a key issue, with the present situa
가족 기업 파트너 협회의 전문가 에리카 마트위와 마틴 키뇨는 가족 기업이 직면한 주요 현안에 대해 논의합니다. 가업 승계는 핵심 과제이며, 현 상황은 젊은 세대가 경영 전면에 나설 절호의 기회입니다. 코로나19 사태와 같은 외부 압력은 가족과 사업 간의 관계를 명확히 정립해야 할 필요성을 부각시켰습니다. 따라서 기업 소유주는 리더이자 멘토가 되어야 하는 어
Experts Erika Matwij and Martin Kiňo from the Association of Family Businesses Partners discuss current topics relevant to family businesses. Succession planning is a key issue, with the present situation offering an opportune moment for the younger generation to step up. The external pressures of the COVID-19 crisis have highlighted the need for well-defined family and business relationships. Owners should involve successors in management and problem-solving, despite the challenges of being both a leader and a mentor.
Preparing the next generation involves careful management transfer. An academy for successors helps develop essential skills through practical training and internships in successful family businesses. The program focuses on understanding the successor role, managing generational differences, and developing business strategies, brand building, international expansion, controlling, and innovation management.
If a family successor is unavailable, hiring a professional manager is an option, either internally or externally. The key is to find someone whose values and management principles align with the owner's. Alternatively, seeking an investor can bring in new management or lead to a full acquisition.
The upcoming legislation regulating trust and foundation funds is sparking interest in protecting family and business assets. Holding structures are becoming standard, improving financial transparency and cost allocation. These structures facilitate risk diversification and investor access. Trust and foundation funds can further protect assets by preventing fragmentation and ensuring support for family members, even excluding certain individuals. These funds, managed by a trustee appointed by the founder, also protect against mismanagement and third-party claims, offering a degree of anonymity. Standard operating costs are comparable to those of a regular business. Super deductions for research and development expenses and patent boxes for income from self-developed intangible assets are underutilized tax incentives worth exploring.
가족 기업 파트너 협회의 전문가 에리카 마트위와 마틴 키뇨는 가족 기업이 직면한 주요 현안에 대해 논의합니다. 가업 승계는 핵심 과제이며, 현 상황은 젊은 세대가 경영 전면에 나설 절호의 기회입니다. 코로나19 사태와 같은 외부 압력은 가족과 사업 간의 관계를 명확히 정립해야 할 필요성을 부각시켰습니다. 따라서 기업 소유주는 리더이자 멘토가 되어야 하는 어려움에도 불구하고, 후계자를 실제 경영과 문제 해결 과정에 적극적으로 참여시켜야 합니다.
다음 세대를 준비하기 위해서는 체계적인 경영권 이전이 필수적입니다. 후계자 양성 아카데미는 성공적인 가족 기업에서의 실무 교육 및 인턴십을 통해 차세대 리더에게 필수적인 역량을 길러줍니다. 이 프로그램은 후계자로서의 역할을 이해하고, 세대 간의 차이를 관리하며, 사업 전략 수립, 브랜드 구축, 해외 시장 확장, 경영 관리, 혁신 경영 등 다방면에 걸쳐 전문성을 키우는 데 중점을 둡니다.
만약 가족 내에 적합한 후계자가 없다면, 내부 혹은 외부에서 전문 경영인을 고용하는 것도 좋은 대안이 될 수 있습니다. 이때 핵심은 소유주와 가치관 및 경영 철학이 일치하는 인물을 찾는 것입니다. 또 다른 방법으로는 투자자를 유치하여 새로운 경영진을 영입하거나, 기업을 완전히 매각하는 방안도 고려할 수 있습니다.
최근 신탁 및 재단 기금에 관한 법안이 주목받으면서, 가족과 기업의 자산을 보호하려는 관심이 높아지고 있습니다. 지주회사 구조는 재무 투명성을 높이고 비용을 효율적으로 배분할 수 있어 점차 보편화되고 있습니다. 이러한 구조는 위험을 분산하고 투자 유치를 용이하게 만듭니다. 신탁 및 재단 기금은 자산의 분할을 막고, 특정인을 상속에서 제외하는 경우에도 다른 가족 구성원의 안정적인 생활을 보장하는 등 자산을 더욱 효과적으로 보호할 수 있습니다. 설립자가 지정한 수탁인이 기금을 관리하므로, 부실 경영이나 제3자의 부당한 요구로부터 자산을 안전하게 지킬 수 있으며, 어느 정도의 익명성도 보장됩니다. 운영 비용은 일반적인 기업 수준과 비슷합니다. 또한, 많은 기업이 제대로 활용하지 못하고 있는 연구개발비 특별 세액공제나 자체 개발한 무형자산 소득에 대한 세금 감면 제도(특허 박스) 등 절세 혜택도 적극적으로 검토해 볼 가치가 있습니다.
Effective May 1, 2021, amendments to the Building Act regarding advertising structures come into force. Advertising structures will now only be permitted for a definite period, not exceeding three yea
2021년 5월 1일부터 광고물 관련 건축법이 개정되어 시행됩니다. 주요 변경 사항은 다음과 같습니다.
이제 광고물은 건축 허가 시 최대 3년의 유효 기간으로만 설치가 허가됩니다. 이전에는 영구적으로 허용되던 것과 달리, 이제는 정해진 기간 동안만 허가가 가능합니다.
허가 기간이 만료된 후 소유주가 연장을 신청하지 않거나 관할 당국이 연장을 불허할 경우
Effective May 1, 2021, amendments to the Building Act regarding advertising structures come into force. Advertising structures will now only be permitted for a definite period, not exceeding three years, through the building permit process. Previously, advertising structures could be permitted indefinitely.
If the owner does not apply for an extension, they are obligated to remove the advertising structure within 30 days after its permit expires. This also applies if the building authority decides not to extend the permit; the structure must be removed within 30 days of the decision becoming legally binding. Failure to comply can result in the decision serving as an enforcement title for execution.
The range of entities that can initiate the removal of illegal advertising structures is expanded to include municipalities for structures within their administrative areas. The process for removing illegal advertising structures (those without a building permit or in violation of one) is simplified, allowing the building authority to issue consent for removal within 30 days of a notification.
Furthermore, penalties for non-compliance are increased. These penalties vary based on the size of the advertising surface, rising from the current €150-€450 to €450-€1,350. All existing building permits for advertising structures issued indefinitely will become valid for a limited period of up to three years from the law's effective date, meaning until April 30, 2024. The law itself took effect on May 1, 2021.
It is recommended to consult with a construction professional to identify affected advertising structures and adjust accounting depreciation periods to three years or multiples thereof, aligning with potential permit extensions.
연구개발비 공제 시, 정부 지원금을 받은 비용은 원칙적으로 공제 대상에서 제외됩니다. 하지만 이번 개정안에 따라, 비상사태 선포 및 그 영향 해소와 관련된 정부의 고용 안정 지원책의 일환으로 지원받은 인건비는 예외적으로 공제 대상에 포함될 수 있습니다. 이는 비상사태 중 매출 감소율에 따라 직원 개인에게 일시불로 지급된 지원
Changes to the Deduction of Research and Development Costs
When deducting research and development costs, costs that have received support from public sources cannot be claimed. The amendment allows for the inclusion of wage costs that were supported by public funds within active labor market measures related to the declaration of an emergency situation, state of emergency, and the elimination of their consequences. This refers to support within this type of measure, but only within the measure through a lump-sum contribution for each employee depending on the decline in revenue during the emergency situation (so-called measure 3B). This fact is defined in § 30c paragraph 5 letter a) of the Income Tax Act. This option will be used when filing a tax return after December 31, 2020.
Summary:
The amendment to the Income Tax Act in Slovakia, specifically § 30c paragraph 5 letter a), introduces a change regarding the deductibility of research and development (R&D) costs. Previously, costs supported by public funds were ineligible for deduction. However, the amendment now permits the inclusion of wage costs that received public funding as part of active labor market measures. This applies specifically to lump-sum contributions provided to employees based on revenue decline during emergency situations (measure 3B). This new provision can be utilized for tax returns filed after December 31, 2020, offering businesses a more favorable tax treatment for R&D expenses incurred under specific government support schemes during crises.
연구개발비 공제 시, 정부 지원금을 받은 비용은 원칙적으로 공제 대상에서 제외됩니다. 하지만 이번 개정안에 따라, 비상사태 선포 및 그 영향 해소와 관련된 정부의 고용 안정 지원책의 일환으로 지원받은 인건비는 예외적으로 공제 대상에 포함될 수 있습니다. 이는 비상사태 중 매출 감소율에 따라 직원 개인에게 일시불로 지급된 지원금(소위 ‘3B 조치’)에만 한정적으로 적용됩니다. 이 내용은 소득세법 제30c조 제5항 a)호에 명시되어 있으며, 2020년 12월 31일 이후 세금 신고 시부터 적용됩니다.
요약:
슬로바키아 소득세법 개정(제30c조 제5항 a)호)으로 연구개발(R&D) 비용 공제 규정이 변경되었습니다. 기존에는 정부 지원금이 투입된 비용은 공제 대상에서 제외되었으나, 이번 개정으로 예외가 허용됩니다.
이제 비상사태와 같은 위기 상황에서 정부의 고용 안정 지원책(특히, 매출 감소에 따른 일시금 지원인 ‘3B 조치’)으로 받은 지원금을 통해 지급된 인건비는 연구개발비 공제 항목에 포함할 수 있습니다. 이 새로운 규정은 2020년 12월 31일 이후 세금 신고부터 적용되어, 위기 상황에서 특정 정부 지원을 받은 기업들이 R&D 비용에 대해 보다 유리한 세금 혜택을 받을 수 있게 되었습니다.
슬로바키아의 법인 납세 거주지 결정 기준이 더 명확해졌습니다. 이제 법인의 등록된 사무소 또는 '실질적 관리 장소'가 슬로바키아 내에 있을 경우, 해당 법인은 슬로바키아 납세 거주자로 간주됩니다. 여기서 '실질적 관리 장소'란, 누가 결정을 내리는지와 관계없이 법인 전체에 대한 핵심적인 경영 및 사업상 결정이 이루어지
Clarification of Criteria for Determining Corporate Tax Residence
The criteria for determining a legal entity's tax residence in Slovakia have been refined. A legal entity is considered a Slovak resident if its registered office or place of effective management is within the Slovak Republic. The concept of "place of effective management" now specifically refers to the location where crucial managerial and business decisions for the entity as a whole are made or received, regardless of who makes them. Decisions pertaining to smaller organizational units or administrative matters are excluded. This clarification is particularly relevant for companies with international ownership structures, especially those with foreign holding companies.
Changes to the 15% Reduced Tax Rate Application
Effective from January 1, 2021, the 15% tax rate is exclusively for taxpayers (legal entities or sole traders) whose taxable income does not exceed €49,790 per tax period. This applies even to micro-taxpayers, and only taxable income is considered for this threshold. For the 2020 tax period, the income limit for the 15% rate was €100,000.
Exclusion of Cross-Border Workers
The method for determining tax residence for individuals who cross the border daily to work in Slovakia and would otherwise be tax residents has changed. From January 1, 2021, their tax residence will be determined based on tie-breaker rules outlined in the relevant double taxation treaties. A similar approach applies to legal entities to resolve dual residency conflicts.
Exemption for "First Aid" Labor Policy Benefits
Benefits provided under active labor policy measures for employment retention projects during declared states of emergency, states of emergency, or exceptional states related to COVID-19 are now tax-exempt. This includes "First Aid" contributions intended to support employers during the pandemic. Similarly, benefits provided by the Ministry of Culture to support artists are also exempt. Expenses incurred for these tax-exempt incomes must be excluded from tax-deductible expenses.
Micro-Taxpayer's Tax Deduction for Bad Debt Write-off
From January 1, 2021, micro-taxpayers can deduct the write-off of bad debts, up to the amount of the provision created for them, provided the debt was previously included in taxable income.
Annual Tax Reconciliation by Any Employer
Starting in 2021, employees can request an annual tax reconciliation from any employer they received income from during the tax period, not just the last one where they claimed tax reliefs. The process for calculating the annual tax reconciliation has also been clarified.
Elimination of Reconciliation for Paid vs. Due Tax Advances
The obligation to reconcile the difference between paid and due tax advances by the end of the month following the tax return deadline has been removed. Paid advances for a tax period will be applied towards the tax liability for that period.
Abolition of 13th and 14th Salary Tax Exemption
The tax exemption for 13th and 14th salaries, provided for summer holidays and Christmas, has been abolished effective January 1, 2021. The last eligible period for this exemption was for Christmas bonuses paid by December 31, 2020.
Gradual Change in Child Tax Bonus Amounts
The tax bonus for children has been adjusted. From January 1, 2021, to June 30, 2021, children under six receive double the bonus, while older children receive one times the bonus. Further adjustments are scheduled from July 1, 2021, with increased bonuses for older children until December 31, 2022.
Cancellation of Spa Care Tax Relief
The tax-exempt portion of income for spa care and related services, up to €50 per year, has been canceled from 2021. The last time this relief could be claimed was for the 2020 tax period.
Clarification of Definition for Non-Cooperating States
From 2021, countries on the EU's "black list" of non-cooperating tax jurisdictions, those not applying corporate income tax, or those with a 0% corporate income tax rate will be excluded from Slovakia's national list of cooperating states. This exclusion will not affect the application of double taxation treaties.
Establishment of a Permanent Establishment
If a foreign tax entity establishes a permanent establishment in Slovakia, it must retroactively fulfill employer obligations, including tax withholding and reporting, from the start of the activity. The foreign entity must file a tax return and pay the tax within three months of discovering the permanent establishment. The existence of a permanent establishment is assessed from the date of commencing activities on Slovak territory as per contractual agreements.
Other Changes from January 1, 2021
Preferential tax depreciation for buildings in the spa industry and for company apartments has been abolished. The tax-exempt amount for spa care and related services for individuals has been canceled.
Summary:
Slovak tax law amendments effective January 1, 2021, introduced significant changes. Corporate tax residence criteria are now more precise, focusing on the place of effective management. The 15% reduced tax rate is limited to lower-income taxpayers, with a reduced threshold from previous years. The exemption for cross-border workers' tax residence determination has been removed, relying on double taxation treaties. Benefits from the "First Aid" program for employment retention during COVID-19 are tax-exempt, as are cultural support payments. The 13th and 14th salaries are no longer tax-exempt. Child tax bonus amounts have been adjusted, with increases for older children over time. Tax relief for spa care has been abolished, as has preferential depreciation for spa buildings and company apartments. The definition of non-cooperating states has been clarified, excluding those on the EU's blacklist. Foreign entities establishing a permanent establishment in Slovakia now have specific retroactive compliance obligations. The annual tax reconciliation process has been simplified, allowing employees to choose any employer. The reconciliation of tax advance differences has also been eliminated.
슬로바키아의 법인 납세 거주지 결정 기준이 더 명확해졌습니다. 이제 법인의 등록된 사무소 또는 '실질적 관리 장소'가 슬로바키아 내에 있을 경우, 해당 법인은 슬로바키아 납세 거주자로 간주됩니다. 여기서 '실질적 관리 장소'란, 누가 결정을 내리는지와 관계없이 법인 전체에 대한 핵심적인 경영 및 사업상 결정이 이루어지거나 수령되는 장소를 의미합니다. 소규모 조직 단위나 행정 관련 결정은 이에 해당하지 않습니다. 이 변경 사항은 특히 외국에 지주회사를 둔 국제적 소유 구조를 가진 기업에 중요합니다.
15% 인하 세율 적용 대상 변경
2021년 1월 1일부터 15% 인하 세율은 과세 기간 동안 과세 대상 소득이 49,790유로를 초과하지 않는 납세자(법인 또는 개인 사업자)에게만 적용됩니다. 이는 소규모 납세자에게도 동일하게 적용되며, 오직 과세 대상 소득만을 기준으로 합니다. 2020년 과세 기간의 경우, 15% 세율 적용 소득 한도는 100,000유로였습니다.
국경 통근 근로자 관련 규정 변경
매일 국경을 넘어 슬로바키아로 출퇴근하여 기존 규정상 납세 거주자에 해당했던 개인 근로자의 납세 거주지 결정 방식이 변경되었습니다. 2021년 1월 1일부터는 관련 이중과세방지협약에 명시된 기준에 따라 납세 거주지가 결정됩니다. 이중 거주지 문제를 해결하기 위해 법인에도 유사한 방식이 적용됩니다.
'응급 지원(First Aid)' 노동 정책 지원금 비과세
코로나19와 관련된 비상사태 기간 동안 고용 유지를 위해 정부의 적극적인 노동 정책에 따라 지급된 지원금은 이제 비과세 대상입니다. 여기에는 팬데믹 기간 동안 고용주를 지원하기 위한 '응급 지원(First Aid)' 보조금이 포함됩니다. 문화부가 예술가들을 지원하기 위해 제공하는 지원금 또한 비과세입니다. 단, 이러한 비과세 소득을 얻기 위해 발생한 비용은 세금 공제 대상에서 제외해야 합니다.
소규모 납세자의 대손상각 세금 공제
2021년 1월 1일부터 소규모 납세자는 이전에 과세 소득에 포함되었던 악성 채무에 대해, 설정된 대손충당금 한도 내에서 대손상각 처리를 통해 세금 공제를 받을 수 있습니다.
모든 고용주를 통한 연말정산 가능
2021년부터 근로자는 세금 공제를 신청했던 마지막 직장뿐만 아니라, 해당 과세 기간 동안 소득을 지급한 모든 고용주 중 한 곳을 선택하여 연말정산을 요청할 수 있습니다. 연말정산 계산 절차 또한 명확해졌습니다.
납부 세액과 예정 세액 간 차액 정산 의무 폐지
소득세 신고 기한 다음 달 말까지 납부한 예정 세액과 실제 납부해야 할 세액 간의 차액을 정산해야 했던 의무가 폐지되었습니다. 이제 해당 과세 기간에 납부한 예정 세액은 그 기간의 납세 의무액에 바로 적용됩니다.
13월, 14월 보너스 비과세 혜택 폐지
여름휴가와 크리스마스에 지급되던 13번째, 14번째 급여(특별 상여금)에 대한 비과세 혜택이 2021년 1월 1일부터 폐지되었습니다. 이 혜택의 마지막 적용 대상은 2020년 12월 31일까지 지급된 크리스마스 보너스였습니다.
자녀 세액 공제 금액의 단계적 변경
자녀 세액 공제 금액이 조정되었습니다. 2021년 1월 1일부터 6월 30일까지는 6세 미만 자녀에게 기존의 2배, 그 이상의 자녀에게는 기존과 동일한 금액이 공제됩니다. 2021년 7월 1일부터 2022년 12월 31일까지는 연령이 높은 자녀에 대한 공제액도 점차 인상될 예정입니다.
스파(Spa) 이용료 세금 공제 혜택 폐지
연간 최대 50유로까지 가능했던 스파 이용 및 관련 서비스 비용에 대한 소득 공제 혜택이 2021년부터 폐지되었습니다. 이 혜택은 2020년 과세 기간을 마지막으로 종료되었습니다.
조세 비협조국 정의 명확화
2021년부터 EU의 조세 비협조국 '블랙리스트'에 오른 국가, 법인세를 부과하지 않거나 법인세율이 0%인 국가는 슬로바키아의 협력 국가 목록에서 제외됩니다. 단, 이 변경 사항이 기존에 체결된 이중과세방지협약의 적용에 영향을 미치지는 않습니다.
고정 사업장 설립 시 의무 강화
외국 법인이 슬로바키아에 고정 사업장을 설립한 경우, 활동 시작 시점부터 소급하여 세금 원천징수 및 신고를 포함한 고용주로서의 의무를 이행해야 합니다. 해당 외국 법인은 고정 사업장의 존재를 인지한 후 3개월 이내에 소득세 신고 및 납부를 완료해야 합니다. 고정 사업장의 존재 여부는 계약에 따라 슬로바키아 영토 내에서 활동을 시작한 날짜를 기준으로 판단합니다.
기타 변경 사항 (2021년 1월 1일 시행)
스파 산업용 건물 및 사원용 아파트에 대한 우대 감가상각 제도가 폐지되었습니다. 개인을 위한 스파 이용료 비과세 혜택도 폐지되었습니다.
요약
2021년 1월 1일부터 시행된 슬로바키아 세법 개정안은 다음과 같은 주요 변경 사항을 포함합니다. 법인 납세 거주지 기준이 '실질적 관리 장소'를 중심으로 더 명확해졌습니다. 15% 인하 세율은 소득 기준이 이전보다 낮아져 저소득 납세자에게만 제한적으로 적용됩니다. 국경 통근 근로자의 거주지 판정은 이중과세방지협약에 따르게 됩니다. 코로나19 고용 유지를 위한 '응급 지원' 프로그램 지원금과 문화 지원금은 비과세 대상이 되었습니다. 13월, 14월 보너스에 대한 비과세 혜택과 스파 이용료 공제는 폐지되었습니다. 자녀 세액 공제액은 단계적으로 인상됩니다. 조세 비협조국의 정의가 명확해졌으며, 외국 기업의 고정 사업장 설립 시 소급 적용 의무가 생겼습니다. 근로자는 어떤 고용주를 통해서든 연말정산을 신청할 수 있게 되었고, 세금 예정 납부액 정산 의무는 사라졌습니다.
슬로바키아는 2022년 1월 1일부터 납세자 등록, 혼성 불일치(hybrid mismatch) 및 해외 자회사(CFC) 관련 규정을 개정합니다.
앞으로 개인 및 법인이 법인 등기를 마치면, 세무 당국이 납세자 등록을 자동으로 처리하게 됩니다.
새로운 혼성 불일치 규정은 '역혼성 기
**Taxpayer Registration and Hybrid Mismatches (Effective January 1, 2022)**
Slovakia is implementing changes to taxpayer registration, hybrid mismatch rules, and controlled foreign corporation (CFC) regulations, effective January 1, 2022.
Tax registration for both individuals and legal entities will be automated by the tax authority after their entry into the register of legal entities.
New rules address hybrid mismatches to prevent income from going untaxed in reverse hybrid entities. A subject will be considered a separate taxpayer if the state where the subject was established considers it transparent, as will be viewed from the point of view of the country of the non-resident founder of the company. For reverse hybrid entities, if the entity is considered transparent in its country of origin but a separate taxable entity in the founder's country, creating a risk of double non-taxation, income attributable to foreign shareholders owning 50% or more of the transparent company will be taxed at the corporate income tax rate of 21% at the level of the transparent company if it cannot be taxed through a permanent establishment. A new reporting obligation is introduced for foreign shareholders of transparent companies to declare the company's status.
CFC rules are extended to individuals to prevent profit shifting to tax havens. An entity is considered a CFC if an individual, alone or with related parties, holds at least 10% of the capital, voting rights, or profit share or exercises actual control and is located in a non-cooperative state or has an effective tax rate below 10%. Profits from CFCs will be taxed at 25% or 35% before distribution. Tax authorities will also notify taxpayers of the amount and due dates of income tax prepayments at least 5 days before the payment deadline.
슬로바키아는 2022년 1월 1일부터 납세자 등록, 혼성 불일치(hybrid mismatch) 및 해외 자회사(CFC) 관련 규정을 개정합니다.
앞으로 개인 및 법인이 법인 등기를 마치면, 세무 당국이 납세자 등록을 자동으로 처리하게 됩니다.
새로운 혼성 불일치 규정은 '역혼성 기업(reverse hybrid entity)'을 통한 조세 회피를 방지하기 위해 도입됩니다. 역혼성 기업이란, 설립된 국가에서는 투과 과세(소득을 주주에게 직접 귀속) 대상으로 보지만, 투자자(주주)의 국가에서는 별도의 과세 주체로 인정받아 양국에서 모두 과세되지 않는 문제를 야기하는 기업을 말합니다. 개정안에 따르면, 외국인 주주가 지분의 50% 이상을 소유한 투과 과세 기업의 소득이 이중 비과세 위험이 있을 경우, 해당 소득은 기업 단계에서 21%의 법인세율로 과세됩니다. 이는 해당 소득이 고정 사업장을 통해 과세될 수 없는 경우에 적용됩니다. 또한, 투과 과세 기업의 외국인 주주에게는 해당 기업의 법적 성격을 신고할 의무가 새롭게 부과됩니다.
해외 자회사(CFC) 규정은 조세 피난처로의 이익 이전을 막기 위해 개인에게까지 확대 적용됩니다. 개인이 단독 또는 특수관계인과 함께 자본, 의결권, 또는 이익 지분의 10% 이상을 소유하거나 실질적 지배력을 행사하는 해외 법인이 조세 비협조국에 소재하거나 실효세율이 10% 미만일 경우, 해당 법인은 CFC로 간주됩니다. CFC에서 발생한 이익은 배당 전이라도 25% 또는 35%의 세율로 과세됩니다. 한편, 세무 당국은 소득세 중간예납 세액과 납부 기한을 마감일 최소 5일 전까지 납세자에게 통지해야 합니다.
DAC6 Reporting Obligation Belongs in the Hands of Experts
DAC6報告義務は専門家の領域
DAC6申报义务当属专家之责
DAC6 보고 의무는 전문가의 영역입니다.
22.02.2021
The DAC6 directive mandates reporting obligations for companies engaging in cross-border tax planning, primarily aimed at securing tax advantages. This initiative, driven by the EU and OECD, seeks to
DAC6 지침은 기업이 조세 혜택을 목적으로 국경 간 거래를 계획할 경우, 이를 의무적으로 보고하도록 규정합니다. EU와 OECD가 주도하는 이 제도는 회원국 간 조세 투명성과 정보 교환을 강화하여, 공격적인 조세 회피를 방지하고 공정한 과세 환경을 조성하는 것을 목표로 합니다.
보고 의무는 국경 간 거래에 관여하는 세무 자문가, 변호사, 회계사 등의 '
The DAC6 directive mandates reporting obligations for companies engaging in cross-border tax planning, primarily aimed at securing tax advantages. This initiative, driven by the EU and OECD, seeks to enhance tax transparency and information exchange among member states, combating aggressive tax practices and promoting fair taxation.
The reporting duty falls upon intermediaries (tax advisors, lawyers, accountants, auditors) or users involved in cross-border arrangements. Intermediaries are obligated to report unless bound by confidentiality, in which case the responsibility shifts to the user. A cross-border arrangement involves at least two member states, a member and non-member state, or aims to circumvent automatic financial account information exchange or beneficial ownership identification. The arrangement must meet specific hallmarks, either general or specific, with general hallmarks and some specific ones requiring a "main benefit test," demonstrating a primary purpose of achieving a tax advantage.
Hallmarks include confidentiality agreements, success-based fees, standardized structures, transfer and cross-border use of losses, income conversion, multiple depreciation claims, and transfer pricing issues with hard-to-value intangibles and opaque ownership structures.
Failure to comply with DAC6 reporting deadlines can result in penalties up to €30,000. Companies should conduct internal analyses of international arrangements and consult tax advisors to navigate the complexities of DAC6, as the reporting requirement covers a broad spectrum of legal and tax scenarios.
DAC6 지침은 기업이 조세 혜택을 목적으로 국경 간 거래를 계획할 경우, 이를 의무적으로 보고하도록 규정합니다. EU와 OECD가 주도하는 이 제도는 회원국 간 조세 투명성과 정보 교환을 강화하여, 공격적인 조세 회피를 방지하고 공정한 과세 환경을 조성하는 것을 목표로 합니다.
보고 의무는 국경 간 거래에 관여하는 세무 자문가, 변호사, 회계사 등의 '중개인' 또는 해당 거래를 이용하는 '납세자'에게 있습니다. 중개인은 직업상 비밀유지 의무가 없는 한 보고해야 하며, 비밀유지 의무가 있을 경우 납세자에게 보고 책임이 이전됩니다. 국경 간 거래는 둘 이상의 회원국 또는 회원국과 비회원국 간에 이루어지거나, 금융계좌 정보의 자동 교환 또는 실소유자 정보 파악을 회피하려는 목적을 가집니다. 또한, 이러한 거래는 '핵심표지(Hallmarks)'라는 특정 기준을 충족해야 하며, 일부 핵심표지의 경우 조세 혜택을 얻는 것이 주된 목적인지를 증명하는 '주요 혜택 테스트'를 통과해야 합니다.
주요 핵심표지로는 비밀유지 계약, 성공 연계 수수료, 표준화된 거래 구조, 손실의 이전 및 국경 간 활용, 소득 유형 전환, 자산에 대한 중복 감가상각, 가치 평가가 어려운 무형자산 관련 이전가격 문제, 불투명한 소유 구조 등이 있습니다.
DAC6 보고 기한을 준수하지 않으면 최대 3만 유로의 과태료가 부과될 수 있습니다. 보고 의무가 광범위한 법적·세무적 상황에 적용되므로, 기업은 국제 거래에 대해 자체적으로 분석하고 세무 전문가의 자문을 받아 DAC6의 복잡한 규정에 대응해야 합니다.
Payment of Income Tax Prepayments for Legal Entities from 2021
2021年以降の法人税中間納付
2021年度起法人所得税预缴
2021년 법인세 중간예납 납부
15.02.2021
Corporate income tax advance payments are governed by Section 42 of Act No. 595/2003 Coll. An obligation to pay advance payments arises if the corporate income tax for the previous tax period exceeds
법인세 중간예납은 직전 사업연도의 법인세 납부액이 5,000유로를 초과하는 경우에 납부 의무가 발생합니다. 납부 방식은 직전 연도 최종 납부세액에 따라 결정됩니다.
직전 연도 납부세액이 5,000유로 초과 16,600유로 이하인 법인은 분기별로 중간예납을 해야 하며, 납부 기한은 각 분기 마지막 날까지입니다. 만약 납부세액이 16,600유로를 초과하면 매
Corporate income tax advance payments are governed by Section 42 of Act No. 595/2003 Coll. An obligation to pay advance payments arises if the corporate income tax for the previous tax period exceeds EUR 5,000. Depending on the amount of this last known tax liability, the corporation is obliged to pay quarterly advance payments, due by the end of the respective calendar quarter, if the tax for the previous period exceeded EUR 5,000 but did not exceed EUR 16,600, or monthly advance payments, due by the end of the respective calendar month, if the tax exceeded EUR 16,600.
The obligation to pay advance payments does not apply if the tax administrator determines otherwise, specifically to taxpayers whose tax for the previous period did not exceed EUR 5,000, those in liquidation or bankruptcy, or those filing a tax return for the first time, until the deadline for filing the return. In this case, the advance payments due up to the filing deadline are settled by the end of the month following the filing deadline.
The tax for the previous period is calculated from the tax base reduced by tax loss stated in the tax return filed for the period immediately preceding the current one, using the tax rate specified in that return, reduced by any applicable allowances. The calculation considers the tax rate valid in the relevant period (either 21% or, from 2020, potentially 15% for taxpayers with income not exceeding EUR 100,000, later replaced by 49,790 EUR). From 2021, only taxable income is included in the income calculation for the 15% rate.
Advance payments are calculated differently before and after the tax return filing deadline. Before the deadline, they're based on the "last known tax liability" from the previous year. After the deadline, they're based on the tax for the previous period as reported in the filed tax return, considering the taxpayer's taxable income and applicable tax rate (15% or 21%). A change effective from January 1, 2021, eliminated the obligation to settle any difference between advance payments made before the filing deadline and the actual tax liability calculated in the tax return. Overpaid amounts are either credited towards future payments or refunded upon request.
법인세 중간예납은 직전 사업연도의 법인세 납부액이 5,000유로를 초과하는 경우에 납부 의무가 발생합니다. 납부 방식은 직전 연도 최종 납부세액에 따라 결정됩니다.
직전 연도 납부세액이 5,000유로 초과 16,600유로 이하인 법인은 분기별로 중간예납을 해야 하며, 납부 기한은 각 분기 마지막 날까지입니다. 만약 납부세액이 16,600유로를 초과하면 매월 말일까지 월별로 중간예납을 해야 합니다.
다만, 직전 연도 납부세액이 5,000유로 이하인 경우, 청산 또는 파산 절차를 진행 중인 경우, 또는 최초로 법인세를 신고하는 경우에는 중간예납 의무가 면제될 수 있습니다. 최초 신고 법인의 경우, 신고 기한까지 발생한 중간예납세액은 신고 기한 다음 달 말일까지 납부하면 됩니다.
중간예납의 기준이 되는 직전 연도 세액은, 해당 연도 신고서에 기재된 세무상 결손금을 차감한 과세표준에 당시 적용 세율(21% 또는 특정 소득 기준 충족 시 15%)을 곱하고, 각종 세액 공제를 차감하여 산출합니다. 2021년부터 15% 세율 적용 여부를 판단하는 소득 기준에는 과세 대상 소득만 포함됩니다.
중간예납액은 법인세 신고 기한을 기준으로 다르게 계산됩니다. 신고 기한 이전에는 전전년도(last known) 납부세액을 기준으로 납부하고, 신고 기한 이후부터는 새로 신고된 직전 사업연도의 확정 세액을 기준으로 계산합니다. 2021년부터는 신고 전 납부한 중간예납액과 실제 확정된 세액 간의 차액을 추가로 정산할 의무는 사라졌습니다. 초과 납부한 금액은 다음 납부할 세액에서 차감되거나, 신청 시 환급받을 수 있습니다.
In October 2020, the Slovak government introduced "First Aid Plus," an extension of the original "First Aid" project, aimed at increasing and prolonging financial assistance for job protection and exp
2020년 10월, 슬로바키아 정부는 기존의 '응급 처치' 프로젝트를 연장한 '응급 처치 플러스'를 도입했습니다. 이는 고용 유지를 위한 재정 지원 규모와 기간을 늘리고 지원 대상자의 자격을 확대하기 위함이었습니다. 이후 2021년 2월부터는 '응급 처치 플러스 플러스' 프로젝트를 통해 지원 대상을 더욱 넓히고 지원액을 증액했으며, 프로젝트 기간은 2021
In October 2020, the Slovak government introduced "First Aid Plus," an extension of the original "First Aid" project, aimed at increasing and prolonging financial assistance for job protection and expanding the eligibility of applicants. Further changes are planned from February 2021, with the "First Aid Plus Plus" project intending to broaden target groups and increase aid amounts, extending the project until June 30, 2021.
Entities starting work or business by February 1, 2021, can apply, and contributions can be claimed for employees hired by the same date. Employers, including the self-employed acting as employers, could previously apply for aid under measures 1 and 3, covering employers with mandatory closures (Measure 1) or inability to assign work (Measure 3A) or revenue decline (Measure 3B).
The "First Aid Plus Plus" project increases contributions under Measures 1 and 3A to 100% of the total labor cost (up from 80%), capped at €1,100. Measure 3B expands revenue decline categories from four to seven, ranging from €330 to €870, with the maximum contribution for an 80% or more revenue decline rising from €810 to €870. These improved conditions apply to requests and reports submitted for February 2021 onwards, up to €1.6 million per company. After exceeding this limit, contributions will continue at 80% of the total labor cost. Self-employed individuals (SZČO) who aren't employers could apply for contributions under Measures 2 and 4, with Measure 2 covering those with mandatory closures or revenue decline, and Measures 4A and 4B targeting specific groups. "First Aid Plus Plus" increases financial contributions under Measure 2 by changing revenue decline categories and raising the flat-rate contribution from €330 to €870. Measure 4A and 4B provides a flat-rate contribution of €360, up from €315. These increases apply to requests and reports submitted for February 2021 onwards. The Ministry recommends self-employed individuals under Measure 4A and 4B to switch to Measure 2 for a potentially higher contribution of up to €870, provided they voluntarily obtain sickness and pension insurance by February 15, 2021.
2020년 10월, 슬로바키아 정부는 기존의 '응급 처치' 프로젝트를 연장한 '응급 처치 플러스'를 도입했습니다. 이는 고용 유지를 위한 재정 지원 규모와 기간을 늘리고 지원 대상자의 자격을 확대하기 위함이었습니다. 이후 2021년 2월부터는 '응급 처치 플러스 플러스' 프로젝트를 통해 지원 대상을 더욱 넓히고 지원액을 증액했으며, 프로젝트 기간은 2021년 6월 30일까지 연장되었습니다.
2021년 2월 1일까지 사업을 시작한 사업체와 해당 날짜까지 고용된 직원에 대해 지원금을 신청할 수 있었습니다. 자영업자를 포함한 고용주는 기존에 정부의 강제 영업 중단 조치(조치 1), 업무 배정 불가(조치 3A), 또는 매출 감소(조치 3B)에 따라 지원을 신청할 수 있었습니다.
‘응급 처치 플러스 플러스’ 프로젝트에 따라 '조치 1'과 '조치 3A'의 지원금은 기존 총인건비의 80%에서 100%로 상향 조정되었으며, 최대 1,100유로까지 지원됩니다. '조치 3B'의 경우, 매출 감소 구간을 4개에서 7개로 세분화하고 지원액 범위를 330유로에서 870유로로 확대했습니다. 특히 매출이 80% 이상 감소한 경우, 최대 지원금은 810유로에서 870유로로 인상되었습니다. 이러한 상향된 조건은 2021년 2월 이후에 제출된 신청서에 적용되며, 기업당 최대 160만 유로 한도 내에서 지원됩니다. 이 한도를 초과하면 지원금은 다시 총인건비의 80% 수준으로 지급됩니다.
고용주가 아닌 자영업자는 기존에 '조치 2'(강제 영업 중단 또는 매출 감소)와 '조치 4'(특정 그룹 대상)에 따라 지원금을 신청할 수 있었습니다. '응급 처치 플러스 플러스'를 통해 '조치 2'의 매출 감소 구간이 조정되면서 정액 지원금이 330유로에서 최대 870유로까지 인상되었습니다. '조치 4A'와 '4B'의 정액 지원금은 기존 315유로에서 360유로로 인상되었습니다. 이러한 인상안은 2021년 2월 이후 제출된 신청서부터 적용됩니다. 정부는 '조치 4A', '4B' 대상 자영업자에게 2021년 2월 15일까지 질병 및 연금 보험에 자발적으로 가입하면 최대 870유로의 더 높은 지원금을 받을 수 있는 '조치 2'로 전환할 것을 권고했습니다.
Easing of conditions for claiming the tax bonus during the pandemic
コロナ禍における特別給付金の受給要件の緩和
放宽疫情期间税务补贴申领条件
팬데믹 기간 세제 혜택 신청 요건 완화
28.01.2021
On January 27, 2021, the Slovak government approved an amendment to Act No. 67/2020, known as Lex Corona, addressing extraordinary financial measures related to COVID-19. The amendment aims to support
2021년 1월 27일, 슬로바키아 정부는 코로나19 관련 특별 재정 조치를 다루는 '렉스 코로나' 법(법률 제67/2020호) 개정안을 승인했습니다. 이 개정안의 주요 목표는 팬데믹으로 경제적 어려움을 겪는 납세자를 지원하는 것으로, 코로나19 검사 비용을 세금 비용으로 인정하고 자녀 세액 공제 조건을 완화하는 내용을 담고 있습니다.
이번 개정안은 특히
On January 27, 2021, the Slovak government approved an amendment to Act No. 67/2020, known as Lex Corona, addressing extraordinary financial measures related to COVID-19. The amendment aims to support taxpayers economically impacted by pandemic measures by allowing COVID-19 testing expenses to be included in tax costs and by easing the conditions for claiming the child tax bonus.
The amendment focuses on employees and self-employed individuals whose income fell below the required threshold for the tax bonus due to pandemic-related disruptions. These individuals received pandemic-related support, such as sick pay, childcare allowance, unemployment benefits, and subsidies for cultural workers. Because these income sources were tax-exempt, the individuals became ineligible for the child tax bonus.
The amendment revises the conditions for claiming the tax bonus by including pandemic-related income in taxable income. Specifically, income from active labor market policies, subsidies from the Ministry of Culture for cultural workers, and pandemic-related sick pay and childcare allowance are included. This applies only to taxpayers who do not meet the minimum income requirement. To include these exempt incomes, the tax payer has to gain these incomes during the pandemy period. Employees who do not meet the income requirement and received income must notify their employer of the amount by February 15, 2021, if they have requested an annual tax settlement.
2021년 1월 27일, 슬로바키아 정부는 코로나19 관련 특별 재정 조치를 다루는 '렉스 코로나' 법(법률 제67/2020호) 개정안을 승인했습니다. 이 개정안의 주요 목표는 팬데믹으로 경제적 어려움을 겪는 납세자를 지원하는 것으로, 코로나19 검사 비용을 세금 비용으로 인정하고 자녀 세액 공제 조건을 완화하는 내용을 담고 있습니다.
이번 개정안은 특히 팬데믹으로 인해 소득이 감소하여 자녀 세액 공제 기준을 충족하지 못하게 된 근로자와 자영업자를 대상으로 합니다. 이들은 질병수당, 육아수당, 실업급여 등 팬데믹 관련 지원금을 받았지만, 이 소득이 비과세 처리되면서 오히려 자녀 세액 공제를 받을 수 없게 되는 문제가 발생했습니다.
개정안은 이러한 문제를 해결하기 위해, 특정 팬데믹 관련 지원금을 과세 소득에 포함하여 세액 공제 신청 자격을 판단하도록 했습니다. 구체적으로 노동 시장 정책 지원금, 문화 예술인을 위한 보조금, 팬데믹 관련 질병수당 및 육아수당 등이 여기에 해당됩니다. 이 조항은 기존 소득만으로는 최저 소득 기준을 충족하지 못하는 납세자에게만 적용되며, 혜택을 받기 위해서는 해당 소득이 팬데믹 기간에 발생한 것이어야 합니다.
연말정산을 신청한 근로자 중, 소득 기준을 충족하지 못하지만 관련 지원금을 받은 경우, 2021년 2월 15일까지 해당 지원금 액수를 고용주에게 알려야 합니다.
On January 27, 2021, the Slovak government approved an amendment to Law No. 67/2020, known as "Lex Corona," concerning special financial measures related to COVID-19. The amendment aims to allow COVID
On January 27, 2021, the Slovak government approved an amendment to Law No. 67/2020, known as "Lex Corona," concerning special financial measures related to COVID-19. The amendment aims to allow COVID-19 testing expenses to be tax-deductible and ease the conditions for claiming the tax bonus during the pandemic.
The law specifies that expenses incurred by employers or self-employed individuals for COVID-19 testing will be considered tax-deductible. This includes testing for employees, their close relatives living in the same household, self-employed individuals, their close relatives, and individuals working for the taxpayer at their place of business (e.g., external company workers providing logistics or cleaning services). This provision applies retroactively to the entire pandemic period, including the 2020 tax year. Non-monetary benefits provided for employee and their relatives testing will not be subject to employee tax during the pandemic.
If an employer has already completed the annual tax reconciliation or issued income confirmation for 2020, they can issue a corrected version to reflect these changes. The amendment also includes measures to ease the conditions for claiming the tax bonus during the pandemic.
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The Slovak government has amended the "Lex Corona" law to allow tax deductions for COVID-19 testing expenses incurred by employers and self-employed individuals. This includes testing for employees, their cohabitating relatives, the self-employed, their relatives, and individuals working at the taxpayer's business location. This measure applies retroactively to the entire pandemic, including the 2020 tax year. Crucially, non-monetary benefits related to employee and relative testing will not be taxed during the pandemic. Employers who have already completed their 2020 tax reconciliation can issue corrections. The amendment also addresses the criteria for claiming the tax bonus during the pandemic, offering further financial relief. The goal is to alleviate the financial burden associated with testing and support individuals and businesses impacted by the ongoing COVID-19 pandemic, with the amendments applied to the entire duration of the pandemic period to provide maximal help.
Moore BDR이 납세자 순위를 집계했으며, 폭스바겐이 '올해의 납세자'로 선정되었습니다.
저희는 비즈니스 분야 최고의 기업을 선정하는 'TREND TOP 2020 올해의 납세자' 프로젝트에 참여하게 된 것을 자랑스럽게 생각합니다.
자세한 내용은 링크된 TREND 주간지 기사에서 확인하실 수 있습니다.
폭스바겐이 TREND TOP이 선정하는 '올해의
Moore BDR compiled a ranking of taxpayers.
Volkswagen is the Taxpayer of the Year.
Our company is proud to have been part of the TREND TOP 2020 Taxpayer of the Year project, recognizing the best of the best in business.
More information can be found in the TREND weekly magazine article at the provided link.
Volkswagen has been named Taxpayer of the Year by TREND TOP for the fourth consecutive year. Moore BDR is proud to have participated in the project that recognizes top businesses in the area of tax contribution. More details about the ranking and Volkswagen's achievement can be found in the TREND weekly magazine. The article highlights the company's commitment to fulfilling its tax obligations and its contribution to the economy. The original article is available via the provided link. This award demonstrates Volkswagen's continued dedication to responsible corporate citizenship and its significant role in the financial landscape. Moore BDR's involvement underscores its commitment to supporting and recognizing excellence in business practices.
Moore BDR이 납세자 순위를 집계했으며, 폭스바겐이 '올해의 납세자'로 선정되었습니다.
저희는 비즈니스 분야 최고의 기업을 선정하는 'TREND TOP 2020 올해의 납세자' 프로젝트에 참여하게 된 것을 자랑스럽게 생각합니다.
자세한 내용은 링크된 TREND 주간지 기사에서 확인하실 수 있습니다.
폭스바겐이 TREND TOP이 선정하는 '올해의 납세자'로 4년 연속 선정되었습니다. Moore BDR은 납세 분야의 우수 기업을 선정하는 본 프로젝트에 참여한 것을 영광으로 생각합니다. 전체 순위와 폭스바겐의 수상에 대한 자세한 내용은 TREND 주간지를 통해 확인하실 수 있습니다. 해당 기사는 성실한 납세 의무를 이행하는 폭스바겐의 노력과 경제에 대한 기여를 조명합니다. 이 상은 책임감 있는 기업 시민으로서 폭스바겐의 지속적인 헌신과 금융계에서의 중요한 역할을 증명합니다. Moore BDR의 프로젝트 참여는 우수한 기업 활동을 지원하고 인정하려는 저희의 의지를 보여줍니다. 원문 기사는 제공된 링크에서 보실 수 있습니다.
The amendment to the Motor Vehicle Tax Act reduces the tax burden on road carriers operating in truck and bus transport.
The National Council of the Slovak Republic approved on Nove
**Translation:**
The amendment to the Motor Vehicle Tax Act reduces the tax burden on road carriers operating in truck and bus transport.
The National Council of the Slovak Republic approved on November 5, 2020, an amendment to Act No. 361/2014 Coll. on Motor Vehicle Tax, removing the condition of "pairing" tractor units and semi-trailers in semi-trailer combinations.
Annual rates specified in a new separate Annex No. 1a will apply to these vehicles.
A lower annual tax rate than would have applied under the highest permissible total weight or total weight stated in the vehicle document before the amendment effective from December 1, 2020, is introduced for all tractor units and semi-trailers.
In addition to the new Annex No. 1a, new percentage reductions in the annual tax rate are introduced for all commercial vehicles classified in categories M2, M3, and N3.
Adjustments to the annual motor vehicle tax rates are also made based on vehicle age, effective from December 1, 2020. Separate adjustments apply for vehicle categories L, M1, N1, N2, O1 to O3; M2, M3, N3; and O4.
Tax rates for L, M1, N1, N2, O1 to O3 vehicles for the 2020 tax period remain at the same level. Vehicles in this category will get from 25 % to -20 % based on the age.
For vehicles in categories M2, M3, and N3 for the 2020 tax period, the annual tax rate is reduced from 50% to -0% depending on the vehicle age.
The annual tax rate for commercial vehicles in category O4 is reduced by 60%, regardless of the vehicle's age.
The 50% reduction in the annual tax rate for special motor vehicles (hybrid motor vehicles, motor vehicles powered by CNG or LNG, or hydrogen) remains in effect.
These changes apply for the first time when filing the motor vehicle tax return for the 2020 tax period, which is exceptionally due by March 31, 2021. Taxpayers do not pay tax advances for the 2021 tax period due before the deadline for filing the tax return. The Ministry of Finance of the Slovak Republic will publish a new tax return form.
**Summary:**
An amendment to Slovakia's Motor Vehicle Tax Act, effective December 1, 2020, aims to lower the tax burden on road carriers, particularly those using trucks and buses. The amendment removes the "pairing" condition for tractor units and semi-trailers and introduces a lower annual tax rate for these vehicles as stated in the annex No. 1a. Additionally, new percentage reductions in the annual tax rate are introduced for M2, M3, and N3 category commercial vehicles. Adjustments to annual tax rates based on vehicle age are implemented, with separate scales for different vehicle categories. Specific reductions are provided for vehicles in categories M2, M3, and N3, depending on their age. Category O4 vehicles (trailers over 10 tons) receive a 60% tax reduction, irrespective of age. The 50% tax reduction for special vehicles (hybrids, CNG/LNG/hydrogen powered) remains unchanged. These changes are applicable for the 2020 tax return, exceptionally due on March 31, 2021, and tax advances for 2021 are waived. The Ministry of Finance will provide a new tax return form.
A July 1, 2021 amendment to the VAT Act introduces significant changes, particularly concerning distance selling. The term "distance selling" is replaced by "distance selling of goods within the Europ
A July 1, 2021 amendment to the VAT Act introduces significant changes, particularly concerning distance selling. The term "distance selling" is replaced by "distance selling of goods within the European Union" or "distance selling of goods imported from third countries." The legislation now defines these sales and updates rules for determining the place of supply to align with taxation at the place of consumption within the EU.
Foreign entities registered for distance selling in Slovakia under the previous § 6 will have their VAT identification numbers automatically considered valid under § 5, ensuring continued registration as taxpayers. The amendment also establishes specific places of supply for distance selling within the EU and certain services to non-taxable persons, with a unified threshold of €10,000 for cross-border sales annually.
This aims to reduce administrative burdens by eliminating country-specific thresholds for distance selling. The changes also introduce special procedures, including the Mini One Stop Shop (MOSS) for specific services to EU consumers by non-EU suppliers, and the expanded One Stop Shop (OSS) covering intra-EU distance sales of goods and services supplied by EU businesses to non-taxable persons in other member states. The Import One Stop Shop (IOSS) facilitates VAT declaration and payment for imported goods valued up to €150, with online platforms taking responsibility for tax collection.
**Correction of Tax Base and VAT Deduction for Uncollectible Receivables in Slovakia**
Under new Slovakian VAT regulations, VAT payers can adjust their tax base if a customer fails to fully or partially pay for goods or services after the VAT obligation arises, and the receivable becomes uncollectible. The tax base can be reduced up to the unpaid amount. The difference between the original and adjusted tax base and VAT is reported in the tax period the receivable becomes uncollectible.
A receivable becomes uncollectible based on specific legal circumstances, such as execution proceedings, bankruptcy proceedings, debt relief proceedings, or the debtor ceasing to exist without a legal successor.
Concurrently, if a VAT payer reduces the tax base due to an uncollectible receivable, the customer who deducted VAT on the unpaid supply must correct their VAT deduction. This correction occurs in the tax period when the customer receives the adjustment document from the supplier.
Furthermore, a new VAT return form and control statement will be introduced from January 1, 2021. These forms will accommodate the tax base adjustments for uncollectible receivables and the corresponding VAT deduction corrections. The revised control statement should be used for tax periods starting on or after January 1, 2021.
We supported the Benefit Event Osmidiv for Mentally Disabled 2020
12.10.2020
We supported:
Charity Event Osmidiv for Mentally Handicapped Individuals
Thanks to our help, the eleventh annual event for mentally and physically disabled children from institutions and facilities
We supported:
Charity Event Osmidiv for Mentally Handicapped Individuals
Thanks to our help, the eleventh annual event for mentally and physically disabled children from institutions and facilities for disabled people, from social care homes and centers, took place on Sunday, August 16, 2020, in the amphitheater in Banská Štiavnica.
Handicapped children had the opportunity to learn new skills at workshops. These included Latin American Zumba dancing, hand painting, decorating plaster casts, encaustic painting (hot wax painting on paper), rattan weaving, crossbow and archery shooting, coin minting, and crafting jewelry from metal and accessories from leather.
The cultural program featured performances by:
Kristína Zóna A La3no Cubano Jamaron /Czech Republic/
The event was hosted by entertainer Jožo Pročko, with Zumba instructor Zoli also participating.
Summary: The "Osmidiv" charity event, held in Banská Štiavnica on August 16, 2020, successfully provided a day of activities and cultural performances for mentally and physically disabled children from various institutions. Supported by our contribution, the event offered participants a chance to develop new skills through a variety of workshops, including art and craft activities like painting, plaster casting, rattan weaving, and jewelry making, alongside sports such as archery and crossbow shooting. The cultural program showcased performances by Kristína, Zóna A, La3no Cubano, and Jamaron from the Czech Republic. The event was further enlivened by host Jožo Pročko and Zumba instructor Zoli, creating a memorable and enriching experience for all attendees.
The amendment to Law No. 361/2014 Z. z. on motor vehicle tax, effective January 1, 2020, introduced several changes. The subject of the tax now includes vehicles registered in Slovakia used for busine
The amendment to Law No. 361/2014 Z. z. on motor vehicle tax, effective January 1, 2020, introduced several changes. The subject of the tax now includes vehicles registered in Slovakia used for business during the tax period. "Used for business" encompasses actual use, accounting entries, inclusion in tax records, claiming expenses, or use by specific taxpayer categories. Vehicles must also belong to categories L, M, N, or O.
Tax liability arises on the first day of the month when a vehicle is registered and used for business. A new provision states tax liability arises for a new taxpayer on the first day of the month following a change in taxpayer within the same calendar month. Tax liability ceases with vehicle deregistration, cessation of business, theft confirmation, taxpayer dissolution, ownership transfer, or termination of vehicle use.
Vehicles with special license plates (M for new/test vehicles, H for historic, S for sports) are not subject to tax. Hybrid, CNG, LNG, and hydrogen-powered vehicles benefit from a 50% annual tax rate reduction. Employers paying travel allowances for employees' private vehicles used for business must now report the start and end of tax liability for these vehicles in the tax return's notes.
Regarding prepayments, taxpayers with an estimated tax below €700 pay no prepayments. Those with estimated tax between €700 and €8300 pay quarterly, and those above €8300 pay monthly. Taxpayers were exempt from prepayments from April 2020 due to COVID-19 measures, but this exemption ended on September 30, 2020. Unpaid prepayments are settled in the final tax return.
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The amendment to Slovak motor vehicle tax law, effective January 1, 2020, redefined taxable vehicles to include those registered in Slovakia and used for business, encompassing various forms of business association with the vehicle, not just actual use. Vehicles must fall into categories L, M, N, or O. Tax liability commences when a vehicle is registered and used for business. New provisions address changes in taxpayer status and cessation of tax liability.
Specific vehicle categories, including newly manufactured, historic, and sports vehicles identified by special license plates, are exempt. Hybrid, CNG, LNG, and hydrogen-powered vehicles receive a 50% tax rate reduction. Employers using employee-owned vehicles for business must now report tax liability changes for these vehicles. COVID-19 pandemic measures temporarily suspended motor vehicle tax prepayments from April 2020, with the exemption ending September 30, 2020, requiring outstanding prepayments to be settled in the annual tax return.
On September 29, 2020, Act No. 264/2020 came into effect, amending Act No. 67/2020 of the Collection of Laws on certain extraordinary measures in the financial sector in connection with the spread of
On September 29, 2020, Act No. 264/2020 came into effect, amending Act No. 67/2020 of the Collection of Laws on certain extraordinary measures in the financial sector in connection with the spread of the dangerous infectious human disease COVID-19, with the aim of cancelling several measures. According to the adopted amendment, the pandemic period applied to specific financial measures is abolished.
The changes will primarily concern the submission of tax returns and payment of taxes, payment of advance payments, preparation of financial statements, and filing of financial statements into the register of financial statements. For tax purposes, the pandemic period is considered to have ended on September 30, 2020. Based on the amendment to Act No. 67/2020, Section 2, Paragraph 3 was supplemented stating that for purposes of measures under specific sections (§ 3 and 4, § 6, § 8 to 12, § 16 to 18a, § 20 to 24a, § 24c to 24h, § 24j, § 24n and 24o, § 33, 34, § 36 paragraphs 1 and 3, § 36a, and § 36c paragraphs 1 and 2), the pandemic period is considered to have ended on September 30, 2020, while for measures under § 7, 24i, and 31, the pandemic period is considered to have ended on December 31, 2020. These changes effectively roll back certain COVID-19 related financial relief measures.
This article explains a legislative amendment that terminated certain pandemic-related financial measures in Slovakia. Effective September 29, 2020, Act No. 264/2020 modified Act No. 67/2020. The core change is the abolition of the designated "pandemic period" for specific financial obligations. Crucially, for tax purposes, the pandemic period ended on September 30, 2020. This impacts tax return submissions, tax payments, advance payments, and financial statement preparation and filing. The amendment clarifies that for most financial measures, the pandemic period concluded on September 30, 2020, but for a few specific measures, it extended to December 31, 2020. This effectively signals the winding down of some financial support mechanisms put in place due to the COVID-19 pandemic.
Support for SMEs within the endogenous tourism development potential in the BBSK and PSK districts
28.09.2020
Operational Programme: Integrated Infrastructure Investment Priority: 3c Support the creation and expansion of advanced capacities for product and service development Specific Objective: 11.3 Increasi
Operational Programme: Integrated Infrastructure Investment Priority: 3c Support the creation and expansion of advanced capacities for product and service development Specific Objective: 11.3 Increasing the competitiveness of SMEs in the development phase Allocation: 7.5 million EUR in BBSK, 7.5 million in PSK Project Implementation Duration: Max. 18 months Project Location: Lučenec, Rimavská Sobota, Poltár, Revúca, Snina, Humenné, Medzilaborce districts
The main project activity is "Development of existing SMEs". Projects must incur eligible expenses to increase tourism potential in the designated regions, aiming to produce new/innovated products or innovate production processes. Project results must demonstrably contribute to regional tourism development through at least one of the listed eligible business activities, categorized by tourism potential (high, medium, low). High potential activities include specific transport, rental of recreational equipment, museum operations, historic site management, botanical/zoological gardens, sports facility operation, and body care services. Medium potential covers textile manufacturing, leather goods, wood products, ceramics, various accommodation types, and restaurant services. Low potential includes broader food and beverage production, textile and garment manufacturing, paper products, printing, chemical products, glass, concrete products, metal goods, and publishing/media activities. Eligible project locations are specific districts in evaluation rounds. Eligible expenses include software, intangible assets, renovations (not new construction), movable assets, specific vehicles (bicycles, scooters), supplies, and certain services and wages for project management.
The main project activity is "Development of existing SMEs." The goal is to boost regional tourism by creating new or improved products and processes. This requires eligible expenses for businesses operating in specific sectors, categorized by their tourism potential (high, medium, or low). High potential sectors include transport, rentals, museums, historic sites, and botanical/zoological gardens. Medium potential covers accommodation, dining, and certain manufacturing. Low potential includes a wider range of food, beverage, textile, and manufacturing industries, as well as media and publishing. The project must be implemented in designated districts and can last up to 18 months, with a budget of 7.5 million EUR for two regions. Eligible expenses cover software, intangible assets, renovations, movable assets, specific vehicles (bicycles/scooters), supplies, and project management costs.
Increasing the Share of Renewable Energy Sources in Enterprises
企業における再生可能エネルギーの導入拡大
28.09.2020
Investment Priority: 4.1 Support for the production and distribution of energy from renewable sources. Specific Objective: 4.1.1 Increase the share of renewable energy sources in Slovakia's gross fina
Investment Priority: 4.1 Support for the production and distribution of energy from renewable sources. Specific Objective: 4.1.1 Increase the share of renewable energy sources in Slovakia's gross final energy consumption. Allocation: 10 million EUR. Project Duration: 18 months. Eligible Activities include: A. Construction of biomass-utilizing facilities through the reconstruction and modernization of existing fossil fuel-based energy facilities (max. 20 MW thermal input), requiring the replacement or conversion of the original fossil fuel source to a renewable energy source (RES). B. Construction of facilities for solar thermal energy production; aerothermal, hydrothermal, and geothermal energy utilization with heat pumps; direct geothermal energy use for heat production (possibly combined with heat pumps); and the production and energy utilization of landfill gas and sewage sludge gas. Projects for hydropower, biogas, and biomethane are not supported. Mandatory submission of an energy audit detailing energy efficiency and RES utilization measures. Applicants must be legal entities or natural persons authorized for business, registered in the commercial register, or operating under a trade license or other specific permits, and must have at least two years of financial statements. Project implementation is eligible throughout Slovakia, excluding the Bratislava region. Eligible expenditure categories include intangible assets (up to 10% for software) and tangible assets, specifically construction work and the purchase/modernization of operational machinery and equipment related to the eligible activities.
This call aims to boost renewable energy in Slovakia by supporting the transition of existing fossil fuel plants to biomass and promoting solar thermal, geothermal, and waste gas energy projects. The focus is on practical implementation, requiring detailed energy audits and financial solvency from applicants. The geographical scope excludes the capital region, encouraging development in other parts of the country. The financial allocation is set at 10 million EUR over 18 months, targeting infrastructure upgrades and new installations for cleaner energy production.
Support for SME Business Development in Upper Nitra
28.09.2020
Operational Programme: Integrated Infrastructure
Investment Priority: 3c Support for the creation and expansion of advanced capacities for the development of products and services
Specific Objective
Operational Programme: Integrated Infrastructure
Investment Priority: 3c Support for the creation and expansion of advanced capacities for the development of products and services
Specific Objective: 11.3 Increasing the competitiveness of SMEs in the development phase
Allocation: 18 million EUR
Project Implementation Duration: max. 18 months
Project Location: Prievidza and Partizánske districts
Activities
The main project activity is "Development of Existing SMEs". The project's subject within the main activity must be the purchase of long-term tangible/intangible assets for the purpose of producing a new/innovated product by the applicant or innovating the applicant's production process. The result of the main project activity must be the achievement of at least a low innovation potential according to the table below.
Innovation Potential: No Innovation: Product/process is not new or innovative for the applicant's enterprise. Low: Product/process is new or innovative for the applicant's enterprise, but another entity already produces/uses such a product/process on the Slovak market at the time of submitting the application. Medium: Product/process is new or innovative for the applicant's enterprise, and a similar product is produced/process is used on the Slovak market, but with lower qualitative parameters. High: The applicant's enterprise's product/process is new to the Slovak market because no similar product is produced/process is used by any other entity on the Slovak market at the time of submitting the application.
Eligible Location Condition: The eligible project location is the territory of Prievidza and Partizánske districts.
Eligible Expenditure Conditions: Eligible classes and groups of expenditure: Group 013 Software, Group 014 Tradable Rights, Group 019 Other Long-Term Intangible Assets, Group 022 Self-Contained Movable Assets and Sets of Movable Assets.
This document outlines a funding opportunity under the Integrated Infrastructure Operational Programme, specifically supporting SMEs in their development phase. With an allocation of 18 million EUR and a maximum implementation period of 18 months, the programme targets projects in the Prievidza and Partizánske districts. The core activity focuses on the "Development of Existing SMEs," requiring investments in tangible or intangible assets to create new or innovate existing products and production processes. A key requirement is achieving at least a "low" innovation potential, defined as a new or innovative product/process for the applicant, even if already present on the Slovak market. Eligible expenses include software, tradable rights, other intangible assets, and movable assets.
Investment Priority: 1.2 Support for enterprise investment in R&I and the development of links and synergies between enterprises
Specific Objective of
Operational Programme: Research and Innovation
Investment Priority: 1.2 Support for enterprise investment in R&I and the development of links and synergies between enterprises
Specific Objective of Investment Priority: 1.2.2 Increase R&D and innovation capacities in industry and services
Allocation: 140 million EUR
Project Implementation Duration: max. 18 months
Activities
The main project activity is "Support for Smart Innovations." The project must involve the purchase of tangible fixed assets for product and/or process innovation, utilizing a combination of "smart solutions" elements within the enterprise or its functional unit. These smart solutions are categorized into three groups: Category 1 (Synergic and Advanced Smart Solutions), Category 2 (Advanced Smart Solutions), and Category 3 (Smart Supported Devices and Systems). Projects are evaluated for innovation potential based on the combination of these elements, with higher points awarded for combinations involving more advanced and synergic solutions.
Eligible applicants are physical or legal entities registered in Slovakia with at least 36 months of operation for those with a trade license, whose business activities align with the project's focus. The project must be realized in the regions of Trnava, Trenčín, Nitra, Banská Bystrica, Žilina, Košice, and Prešov. Eligible expenditures include software, intangible assets, movable assets, and sets of movable assets.
This call aims to boost R&D and innovation capacities in industry and services by supporting enterprises in acquiring and implementing smart technologies. The focus is on tangible asset purchases that lead to product or process innovation through integrated smart solutions. The funding aims to foster the adoption of advanced technologies like collaborative robotics, cyber-physical systems, machine vision, and digital twins.
Aid Scheme: Family Business Support Schemes (2017-2020) (de
Maximum Grant Amount: 25,000 EUR
Eligible Applicants: SMEs, family businesses
Application Deadline: August 17, 2020
Aid Intensity: 100%
Aid Scheme: Family Business Support Schemes (2017-2020) (de minimis aid scheme)
Allocation: 450,000 EUR
Consulting Implementation Period: 4 months
Activities: Support will be provided as expert consulting to family businesses by one or more experts with experience in the following areas:
Generational change and management succession, including managerial succession, potential development for family members (individual and team development, corporate culture), crisis leadership, organizational and departmental structuring, personnel management, talent management, succession strategy implementation, career development plans for key family members and top management, family rule-setting for intergenerational transfers, and conflict mediation.
Asset succession, including family asset succession planning, asset valuation, economic measure optimization (cash flow and liquidity), and other asset-related succession topics.
Addressing the impacts of the COVID-19 crisis on family businesses in changed economic conditions, including capacity development (human resources, processes, culture change), business coaching for owners and managers during crises, crisis communication, partnership formation, and employee motivation during crises.
Eligibility Criteria: Natural and legal persons authorized for business under the Commercial Code, classified as micro, small, or medium-sized enterprises, and meeting the definition of a family business. A family business is defined by familial ties or legally recognized relationships and shared interest in creating interdependence, with at least one condition met: over 50% ownership, decisive influence over other co-owners, or controlling/managing functions with influence.
Eligible Location: The entire territory of the Slovak Republic.
Eligible Expense Classes: Consulting services for a single family business, up to 25,000 EUR per budget year, calculated as the number of consulting hours multiplied by the expert's total labor cost.
To assess your intent, please fill in the basic information on the website.
We bring you a selection of the most important changes regarding tax, accounting, and social security laws, adopted as part of the 114 measures package to improve the b
Here's the translated content:
We bring you a selection of the most important changes regarding tax, accounting, and social security laws, adopted as part of the 114 measures package to improve the business sector, so-called "entrepreneurial kilo."
Gradual increase in size criteria for mandatory audit of financial statements
The size criteria will change as follows:
| | 2020 | From 1.1.2021 | From 1.1.2022 | |-------------------|----------|---------------|---------------| | Total assets | > €2 mil | > €3 mil | > €4 mil | | Net turnover | > €4 mil | > €6 mil | > €8 mil | | Average employees | 30 | 40 | 50 |
The obligation to audit financial statements applies to companies that meet at least two of these conditions for two consecutive accounting periods.
The limit for recognizing fuel expenses in tax expenses will be increased
From now on, fuel consumption from vehicle registration certificates or technical passports will be automatically increased by 20%, making consumption more realistic and allowing for a larger amount of expenses to be recognized as tax expenses. The calculation will be based on the consumption stated in the registration certificate or technical passport, or in supplementary data from the manufacturer or seller. The option to prove tax costs based on consumption proven by a document issued by an authorized organization or according to a company's internal act (for trucks and work mechanisms) remains.
Waiver of settlement of differences in paid prepayments
Legal entities that paid lower prepayments or no prepayments during the pandemic, based on adopted measures, will not have to settle the difference in prepayments by the end of the calendar month following the deadline for filing tax returns. This applies to prepayments paid and due from the beginning of the tax period until the deadline for filing tax returns, i.e., for the tax period: a. which is a calendar year starting no earlier than January 1, 2020, b. in which there was a change in the tax period from a calendar year to a fiscal year, and which began after January 1, 2020, c. which is a fiscal year for which the regular or extended deadline for filing income tax returns expired during the pandemic period, d. which is a fiscal year, at least one month of which falls into the calendar year 2020.
The deadline for submitting documentation requested by the tax administrator for a tax audit will be doubled.
The minimum deadline for responding to a tax audit protocol, within which the audited taxpayer must comment on the findings in the protocol, will be extended from 15 days to 30 working days. This deadline will first apply to protocols prepared after June 30, 2020.
Conditions for applying tax loss deductions under Lex Corona are clarified.
If the deadline for filing an income tax return expires in 2020 for multiple tax periods, the taxpayer can only apply the preferential tax loss deduction in one tax period.
Prohibition of Social Insurance Agency from requesting information it already possesses.
With the amendment to the Social Insurance Act, the obligation for employers to notify the Social Insurance Agency (hereinafter "SP") of facts that SP can ascertain otherwise will be abolished. According to the amendment, the employer's obligation is canceled to: e. de-register from the employer register kept by the Social Insurance Agency – SP will automatically terminate registration upon de-registration of the last employee; f. notify SP of changes in employee data (name, surname, permanent or temporary residence) – SP will obtain data from the Register of Natural Persons. This obligation is also canceled for self-employed individuals; g. report changes in data on the start and end dates of employment or other legal relationships with the employer; h. report changes in data regarding whether an employee is a statutory body of the employer and owns at least 50% of the employer's assets, or a member of the statutory body and owns at least 50% of the employer's assets; i. notify SP of the start and end of maternity or parental leave for employees.
Furthermore, the deadline for employers to submit a pension insurance record for employees who do not apply for an old-age pension after the termination of employment will be extended from 8 days to 30 days from the termination of employment. The obligation to submit a report to SP after an inspection on the fulfillment of measures to rectify identified deficiencies and their causes is also abolished.
Amendments to tax and social security laws effective January 1st at the earliest.
Legal regulations governing social security contributions and taxes will be amended only once a year, effective January 1st of the following year at the earliest.
Numerous other laws were also changed as part of the package. The adopted measures will remove bureaucratic restrictions for small and medium-sized enterprises, such as: cancellation of certain obligations for travel agencies, cancellation of bank levies, cancellation of the obligation to affix a control sticker to the vehicle's windshield as proof of technical inspection, emission inspection, and originality inspection, cancellation of the obligation to have a displayed complaint procedure in a visible place, and many others.
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This article summarizes key changes from a Slovak business improvement package. The mandatory audit thresholds for companies are gradually increasing until 2022. Fuel expense deductions will be more realistic, automatically increasing consumption figures by 20%. Companies that paid reduced tax prepayments during the pandemic will not need to settle the difference until after the tax return deadline. Deadlines for responding to tax audit findings are doubled to 30 working days. The application of tax loss deductions is limited to one period per taxpayer under Lex Corona. The Social Insurance Agency's ability to request information it already possesses is restricted, reducing employer notification burdens. Tax and social security laws will be amended annually, effective January 1st. Other measures include removing bureaucratic hurdles for SMEs, such as for travel agencies and vehicle inspections.
A new amendment to Act No. 62/2020 Coll. on certain extraordinary measures related to the spread of a dangerous infectious human disease COVID-19 and in justice, and amendin
TEMPORARY RENT PROTECTION
A new amendment to Act No. 62/2020 Coll. on certain extraordinary measures related to the spread of a dangerous infectious human disease COVID-19 and in justice, and amending and supplementing certain laws, referred to as the "Temporary Rent Protection Act," provides temporary rent protection for tenants (both business and non-business) if they fall into arrears with rent and other rent-related payments due to circumstances stemming from the spread of COVID-19.
Under Section 3b of Act No. 62/2020 Coll. on Temporary Protection, a landlord cannot unilaterally terminate a lease of real estate (including residential and non-residential premises) until December 31, 2020, for a tenant's delay in paying rent, including charges for services typically associated with the lease, that became due between April 1, 2020, and June 30, 2020, provided the tenant's delay resulted from circumstances originating from the spread of COVID-19. The tenant must sufficiently substantiate the reason for the delay. Other grounds for lease termination remain unaffected.
For a tenant to receive temporary rent protection, they must meet these conditions: the rent arrears must be for the period between April 1, 2020, and June 30, 2020; the payment delay must be due to COVID-19-related circumstances; and the reason for the delay must be sufficiently evidenced. Delays occurring before April 1, 2020, or after June 30, 2020, allow landlords to terminate the lease unilaterally, regardless of the reason for the delay. The act does not prohibit termination for other reasons and does not specify landlords' claims for tenant payment delays, such as late interest. After December 31, 2020, tenants lose this protection, and landlords can terminate leases for delays occurring between April 1, 2020, and June 30, 2020.
SUBSIDY FOR RENT PAYMENT
The amendment to Act No. 71/2013 Coll. on subsidies and the supplementing of Act No. 62/2020 Coll. has introduced a new state contribution – a subsidy for rent payment. This subsidy aims to mitigate the impact of COVID-19 containment measures on businesses.
Conditions for the subsidy include an existing lease agreement, rent agreed in monetary form, the tenant's right to use the rented property acquired no later than February 1, 2020, and that the use of the property was hindered due to government measures against COVID-19. Hindrances include closure, interruption of schooling, or significant restrictions on public access. The subsidy can be applied for by landlords, including individuals and legal entities, whether business or non-business. Changes to lease agreements made after March 12, 2020, are disregarded for subsidy purposes. The "rented property" for this subsidy includes commercial spaces used for selling goods or services to consumers and market places.
The subsidy is granted based on the rent discount agreed between landlord and tenant, capped at 50% of the rent for the period of hindered use. This requires a joint application signed by both parties. The subsidy does not cover ancillary services like energy payments or turnover-based rent components. If services are inseparable from rent, a 5% reduction in rent is assumed. For state property managers, rent is automatically halved, making the subsidy 50% of the original rent. The application is submitted electronically via a form on the Ministry of Economy's website. The electronic form, bearing authorized signatures, serves as proof of the discount agreement. The subsidy is approved via electronic notification to both parties. To qualify, applicants must have settled financial relations with the state budget, have no enforcement proceedings against them, not have violated illegal employment bans in the past three years, and have no outstanding social or health insurance payments. Other conditions, like not being in insolvency or bankruptcy, not having a ban on receiving subsidies, and not having a ban on receiving EU funds, are confirmed by declaration. If the subsidy exceeds €100,000, the beneficial owner must be identified, and false declarations can lead to repayment.
If the tenant has paid rent for the entire or partial period of hindered use, the subsidy can be granted for a period equal to the hindrance, up to 50% of the rent, based on the agreed discount. If no discount was agreed upon, the tenant can pay the outstanding rent in up to 48 equal monthly installments, starting the month after the state of emergency ends, with payments due by the 15th of each month, unless otherwise agreed.
Contributions to support job retention – project changes
21.05.2020
New statements for the "First Aid" project to support employment retention are available on pomahameludom.sk as of May 17, 2020. The project offers four measures: support for employers (including self
New statements for the "First Aid" project to support employment retention are available on pomahameludom.sk as of May 17, 2020. The project offers four measures: support for employers (including self-employed individuals who are employers) who closed operations due to the emergency, support for self-employed individuals whose businesses were closed by the Public Health Office or experienced a 20% revenue drop, support for employers retaining jobs during business interruptions, and support for self-employed individuals and single-owner limited liability companies with no other income since March 13, 2020.
Contribution amounts are being adjusted, with the maximum capped at 80% of an employee's gross wage for Measure 3B. For April, the flat-rate contribution has doubled compared to March for measures considering revenue decline (Measures 2 and 3B). Employers can switch measures for April and, with multiple operations, apply for Measures 1 and 3 concurrently on different premises. However, certain combinations of measures are mutually exclusive.
The Ministry of Labour, Social Affairs and Family apologized for errors in the April statements for Measures 1 and 3, requesting corrected submissions. Measure 4 has also seen changes, with new conditions for single-owner LLCs (no employees) and broader income exclusion criteria. Deadlines for applications for Measure 4 have been extended based on the period of no income.
On April 14, 2020, the government approved changes to the employment support project during the state of emergency, expanding aid for employers and employees. This is the third type of social assistan
On April 14, 2020, the government approved changes to the employment support project during the state of emergency, expanding aid for employers and employees. This is the third type of social assistance available from the Office of Labour, Social Affairs and Family starting April 17, 2020, in the form of contributions. Applications for the first and second measures began on April 6 and April 8, 2020, respectively.
The support measures aim to compensate for wage replacements or provide fixed contributions based on reduced revenue. Employers who were forced to close their operations can receive up to 80% of an employee's average earnings, capped at €1,100 per month. Other employers facing operational obstacles or revenue declines can receive contributions based on specific criteria. Self-employed individuals (SZČO) and individuals without other income are also eligible for support, with amounts varying based on their insurance status and revenue drops. For example, SZČO with at least a 10% revenue drop in March 2020 could receive €90, while an 80% drop in April/May could yield €540. A SOS subsidy of €210 per month is available for individuals who lost income due to the crisis and are not receiving pensions or other benefits. Eligibility criteria include being insured, having a revenue drop, and fulfilling tax and social security obligations. Employers must commit to not terminating employment for two months after receiving support and demonstrate their financial standing. The definition of "revenue" for these contributions is specified for both legal entities and individuals.
According to Slovak Government Regulation No. 104/2020, effective April 30, 2020, taxpayers who did not submit a declaration under Section 24a of Act No. 67/2020 on certain extraordinary measures in t
According to Slovak Government Regulation No. 104/2020, effective April 30, 2020, taxpayers who did not submit a declaration under Section 24a of Act No. 67/2020 on certain extraordinary measures in the financial sector in connection with the spread of the dangerous contagious human disease COVID-19 (Lex Corona) by the tax return deadline, pay advance payments based on their 2019 tax liability if their 2019 tax liability was lower than their 2018 tax liability, and the 2019 tax return deadline falls within the pandemic period. This rule does not apply to advance payments determined by tax authorities.
The regulation aims to allow all taxpayers to pay income tax advance payments under more favorable conditions based on their filed tax returns, ensuring no one pays higher advance payments during the pandemic than before.
Taxpayers are categorized into four groups regarding advance payments: 1. Those whose revenue decreased by 40% compared to the same period in the previous year: They do not pay advance payments for the period immediately following the revenue drop until the end of the pandemic. 2. Those who filed their 2019 tax return during the pandemic and had a lower tax liability than in 2018: They pay advance payments based on the lower 2019 liability and will receive a refund for overpaid advance payments from April 2020. 3. Those who filed their 2019 tax return during the pandemic and had a higher tax liability than in 2018: They continue to pay advance payments based on their 2018 liability until the end of the month following the crisis state's termination and must pay the difference between the 2018 and 2019 advance payments. 4. Those who wish to adjust their advance payment obligations differently: This can be done upon request to the tax authority, which will determine the advance payments.
If a taxpayer paid higher advance payments for April than permitted by Lex Corona, they can request a refund or use the difference for future payments. Refunds are processed within 30 days if requested after April 30, 2020, or by May 31, 2020, if requested by the end of April 2020.
Penalties apply for reducing a tax credit claimed during the pandemic and subsequently filing an amended return with a lower credit; a 100% penalty on the difference will be imposed, and the difference must be repaid. Lex Corona III also introduced changes regarding penalties for late payment of certain advance tax payments, withholding tax, or tax security amounts during the pandemic, with late payment interest applicable.
Update – Amendment to the Social Insurance Act and other acts – exemption of employer's contribution obligations for April 2020
13.05.2020
This exemption applies to employers or self-employed individuals (SZČO) who are compulsorily insured for sickness and pension benefits and whose operations were closed in April 2020 for at least 15 da
This exemption applies to employers or self-employed individuals (SZČO) who are compulsorily insured for sickness and pension benefits and whose operations were closed in April 2020 for at least 15 days, based on a decision by the Public Health Authority of the Slovak Republic. Employers remain obligated to remit employee contributions by their original due dates.
Proof of closure will be demonstrated by the employer or insured SZČO through a sworn statement submitted to the Social Insurance Agency no later than May 18, 2020. Forms for the remission of social insurance contributions for April are available.
An amendment to the Employment Services Act expands the eligibility for contributions under the job retention project. This includes applicants who are permitted to fulfill their tax and contribution obligations or claims towards the Labour, Social Affairs, and Family Office through installments. It also covers cases where contributions could not be drawn due to non-compliance with tax and contribution obligations or claims for February 2020; in these instances, specific conditions under the aforementioned act will be considered met.
**Summary:**
The Slovak Republic has introduced an exemption for employers and self-employed individuals (SZČO) who were forced to close their businesses for at least 15 days in April 2020 due to public health authority decisions. These entities can apply for a waiver of social insurance contributions for that month, provided they submit a sworn statement by May 18, 2020. Employers must still remit employee-paid contributions on time.
Furthermore, amendments to the Employment Services Act broaden eligibility for job retention project contributions. This now includes those who can pay tax and social security dues in installments and those whose applications were previously rejected due to February 2020 compliance issues. These individuals will now be considered compliant regarding those specific requirements. This aims to provide further support to businesses and maintain employment during the economic challenges.
Financial assistance for ensuring liquidity of small, medium-sized or large enterprises – Lex Corona IV.
13.05.2020
The government has submitted an amendment to Act No. 67/2020 Coll. on certain extraordinary measures in the financial sector in connection with the spread of the dangerous infectious human disease COV
The government has submitted an amendment to Act No. 67/2020 Coll. on certain extraordinary measures in the financial sector in connection with the spread of the dangerous infectious human disease COVID-19 (Lex Corona) with the aim of expanding financial assistance provided to small, medium, and large enterprises.
This financial assistance will be provided through the Export-Import Bank of the Slovak Republic and funds managed by Slovak Investment Holding, a.s. Financial intermediaries will be banks and branches of foreign banks. Financial assistance will be provided in the form of a loan guarantee and in the form of a waiver of the guarantee fee.
This financial assistance can be provided to all types of enterprises that meet the following conditions: - The enterprise is not a company that is a person authorized to mediate employment for a fee issued under the Trade Licensing Act. - The Social Insurance Agency and the Health Insurance Company do not have any overdue payments outstanding for more than 90 days against the enterprise. - No bankruptcy proceedings or restructuring has been initiated against the enterprise. - The enterprise meets the conditions set by the bank.
This proposal is still under approval.
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The Slovak government has proposed an amendment to the "Lex Corona" act to expand financial aid for businesses of all sizes impacted by COVID-19. This assistance will be channeled through the Export-Import Bank of the Slovak Republic and funds managed by Slovak Investment Holding, with banks and foreign bank branches acting as intermediaries. The aid will primarily take the form of loan guarantees and waivers of guarantee fees. To qualify, businesses must not be in the employment mediation sector, have no overdue social or health insurance payments exceeding 90 days, not be undergoing bankruptcy or restructuring, and meet bank-specific conditions. The proposed amendment is currently awaiting approval.
Government Bill on Social Insurance and Other Laws – Establishment and Termination of Mandatory Sickness and Pension Insurance for Self-Employed Persons
13.05.2020
On May 11, 2020, a new government bill concerning social insurance and other laws was submitted, specifically regulating the commencement and termination of mandatory sickness and pension insurance fo
On May 11, 2020, a new government bill concerning social insurance and other laws was submitted, specifically regulating the commencement and termination of mandatory sickness and pension insurance for self-employed individuals (SZČO). This proposal targets SZČO who had not yet filed their 2019 tax returns by March 31, 2020, as per Law No. 67/2020 Z. z. (Lex Corona), and those whose deadline for filing their 2019 personal income tax return was extended.
For SZČO whose extended deadline to file their 2019 tax return under Law No. 67/2020 Z. z. had passed, mandatory insurance commencement would be assessed from the first day of the third calendar month following the expiry of their tax filing deadline. Their mandatory insurance termination would be assessed on the last day of the second calendar month following the expiry of their tax filing deadline.
For SZČO with an extended 2019 tax filing deadline, a new assessment date for mandatory sickness and pension insurance was proposed, linked to their tax filing deadline. The decisive date was September 30, 2020. If the final day for filing the 2019 tax return was after September 30, 2020, the procedure would be the same as for the first group of SZČO. If the extended Lex Corona deadline expired by September 30, 2020, mandatory insurance would commence on December 1, 2020, and terminate on September 30, 2020.
A condition for insurance commencement is that the SZČO's income for 2019 exceeds 12 times the minimum assessment base (EUR 6,078). If income falls below this threshold, mandatory insurance will terminate.
Additionally, a transitional provision proposes temporarily suspending the mechanism for increasing meal allowances and basic vehicle reimbursement rates until December 31, 2021.
A government bill was presented on May 11, 2020, to amend the Social Insurance Act and related laws. It specifically addresses the commencement and termination of mandatory sickness and pension insurance for self-employed individuals (SZČO). The bill targets SZČO who had an extended deadline for filing their 2019 tax returns, either due to the Lex Corona law or other extensions.
For those with extended deadlines, the commencement of mandatory insurance is linked to the period after their tax filing deadline expires. For SZČO whose extended deadline was before September 30, 2020, insurance would start on December 1, 2020, and end on September 30, 2020. If their deadline was after September 30, 2020, their insurance commencement and termination dates would be determined by the third and second months after their extended filing deadline, respectively.
A crucial condition for the initiation of insurance is an annual income exceeding €6,078. Below this threshold, mandatory insurance ceases. The proposal also includes a temporary measure to freeze increases in meal and travel allowances until the end of 2021.
Tax Loss Carryforward in 2020 in Connection with Coronavirus Crisis Measures
28.04.2020
The amendment to Act No. 67/2020 Coll. on certain extraordinary measures in the financial sector in connection with the spread of the dangerous infectious human disease COVID-19 (so-called Lex Corona)
The amendment to Act No. 67/2020 Coll. on certain extraordinary measures in the financial sector in connection with the spread of the dangerous infectious human disease COVID-19 (so-called Lex Corona) adjusted the possibility of deducting previously unutilized tax losses to alleviate the financial burden on businesses.
Based on Section 24b of Lex Corona III (as amended by Act No. 96/2020), effective from April 25, 2020, taxpayers can deduct unutilized tax losses reported for tax periods ending in the years 2015 to 2018. This applies to tax losses that have not yet been utilized and for which the right to claim them has not expired. The deduction is available to legal or natural persons who reported a positive tax base for the 2019 calendar tax year.
Taxpayers can claim these tax losses in their tax return filed between January 1, 2020, and December 31, 2020, with a maximum aggregate deduction of €1 million. Taxpayers with a fiscal year ending on or after October 31, 2019, can also utilize this deduction, up to €1 million. However, this does not apply to fiscal years where the tax return filing deadline falls on December 31, 2019. Taxpayers who have already filed their 2019 tax return can use an amended or additional tax return.
Tax losses are deducted sequentially, starting with the earliest reported loss. For example, if losses were incurred from 2015 to 2018, the taxpayer would deduct a quarter of the 2015 loss, then the 2016 loss, the 2017 loss, and finally the 2018 loss, up to the calculated tax base and a maximum of €1 million. Keeping records is essential for claiming remaining losses in subsequent periods. This special deduction is optional, and taxpayers can opt for the standard loss amortization method if it is more advantageous.
The government has approved further COVID-19 related measures, dubbed Lex Corona III, which amends the law concerning extraordinary financial measures due to the pandemic. Key changes include expedite
The government has approved further COVID-19 related measures, dubbed Lex Corona III, which amends the law concerning extraordinary financial measures due to the pandemic. Key changes include expedited income tax refund processing for returns filed during the pandemic, with refunds now issued within 40 days of the calendar month the return was submitted. Businesses experiencing a 40% or greater revenue drop compared to the previous year can defer income tax prepayments due during the pandemic, provided they submit a declaration to the tax administrator. The obligation to pay vehicle tax prepayments from April 2020 onwards is waived, with the full amount due by January 31, 2021. Funds received from tax assignments for pandemic relief can now be used until the end of 2021. Unused tax losses from 2015-2018 can be deducted from the tax base for returns filed in 2020, up to a maximum of €1 million. The legislation also clarifies provisions regarding missed deadlines, tax audits, penalties, and the non-publication of VAT payers deregistered due to repeated non-compliance during the pandemic. Municipalities will be allowed to use development fees for current expenses.
Preliminary Information on Upcoming Accounting Measures
22.04.2020
The Ministry of Finance of the Slovak Republic has published preliminary information regarding its proposed measure MF SR No. MF/010704/2020-74, which amends and supplements the Ministry of Finance's
The Ministry of Finance of the Slovak Republic has published preliminary information regarding its proposed measure MF SR No. MF/010704/2020-74, which amends and supplements the Ministry of Finance's measure from December 3, 2014, No. MF/23377/2014-74. This proposal establishes details concerning individual financial statements and the scope of data from individual financial statements to be published for large accounting entities and public interest entities.
The objective of the proposed amendment to the measure is to enhance the notes to the financial statements for large accounting entities and public interest entities. This enhancement includes providing detailed information on overdue receivables and payables, as well as specifics on the provision of state aid, support, and subsidies. These additions are in response to legal regulations enacted during the declaration of an emergency situation under special provisions and to meet the requirement for transparent data disclosure within financial statements.
This amendment aims to improve the transparency and comprehensiveness of financial reporting for significant economic players in Slovakia. By requiring more detailed disclosures on overdue obligations, state aid, and subsidies, the Ministry of Finance intends to provide stakeholders with a clearer understanding of the financial health and operational activities of these entities. The changes are particularly relevant in the context of emergency situations, where governmental support mechanisms are often utilized. The goal is to ensure that public interest entities and large accounting firms present a more detailed and understandable financial picture.
Law no. 67/2020 Coll. introduced a special deadline for filing corporate income tax returns for 2019. The deadline, which expired or will expire during the pandemic period, has been extended to the en
Law no. 67/2020 Coll. introduced a special deadline for filing corporate income tax returns for 2019. The deadline, which expired or will expire during the pandemic period, has been extended to the end of the calendar month following the end of the pandemic. Taxpayers must also pay their 2019 income tax by this new deadline.
This postponement also affects advance tax payments. Under current regulations, advance payments for a given tax period are based on the tax liability declared in the previous year's return (i.e., for 2018). Therefore, taxpayers whose 2019 filing deadline fell within the pandemic period (from March 12, 2020) will continue to pay advances based on their 2018 tax liability until the new extended deadline. This applies even to those who filed their returns by the original March 31 deadline.
It is important to note that interest on late advance payments made during the pandemic period will be charged according to Section 156 of the Tax Procedure Code.
A government amendment approved on April 16, 2020, introduced a provision allowing for the suspension of advance tax payments. This applies to periods immediately following a quarter in which a taxpayer's revenue decreased by at least 40% compared to the same period in the previous year. To utilize this provision, taxpayers must submit a declaration confirming they meet the conditions no later than 15 days before the advance payment deadline.
On April 2, 2020, Slovakia's parliament approved "Lex Korona," a government bill designed to mitigate the economic impact of the pandemic on taxpayers, businesses, and SMEs. The law establishes a "pan
On April 2, 2020, Slovakia's parliament approved "Lex Korona," a government bill designed to mitigate the economic impact of the pandemic on taxpayers, businesses, and SMEs. The law establishes a "pandemic period," starting from March 12, 2020, until the government lifts the state of emergency.
Key tax provisions include the extension of deadlines for submitting tax returns, notifications, and tax payments for various cases, including the 2019 income tax return, corporate income tax for economic year-endings during the pandemic, and tax returns for deceased taxpayers or those closing permanent establishments. Employers' deadlines for tax reconciliation statements are also extended.
In accounting, deadlines for fulfilling obligations and submitting financial statements to the accounting register are extended to three months after the pandemic period ends or the tax return deadline, whichever is earlier.
The legislation allows recipients of designated tax shares (third sector) to use funds to alleviate pandemic consequences. It also exempts imported goods supporting disaster victims from customs duties and VAT. Taxpayer lists and VAT registrations of those violating obligations will not be updated during the pandemic. Tax audits and proceedings are suspended unless they involve financial refunds. Tax executions are postponed, and missed deadlines can be rectified by the end of the month following the pandemic's end. Administrative fees for pandemic-related actions are waived.
Financial market measures include state-backed loans and interest subsidies for SMEs through the Export-Import Bank of Slovakia and the Slovak Guarantee and Development Bank. Budgetary rule measures permit local governments to use reserve funds, capital revenues, and loans for current expenditures until the end of 2021.
On April 2, 2020, parliament adopted amendments to the Labour Code. These changes were effective during declared states of emergency and for two months thereafter.
Key provisions included: * **Remo
On April 2, 2020, parliament adopted amendments to the Labour Code. These changes were effective during declared states of emergency and for two months thereafter.
Key provisions included: * **Remote Work:** Enabling employees to work from home if the nature of their work allowed. * **Working Time Flexibility:** Shortening the employer's notice period for organizing working time from weekly to two days, valid for at least one week. Employers could also use hours for which wage compensation was paid due to employer-side work impediments to offset future overtime, up to the annual limit of 400 hours. * **Annual Leave Notification:** Reducing the employer's advance notification period for taking annual leave to 7 days, or 2 days for unused leave. * **Quarantine/Isolation:** Employers were to excuse employee absence due to quarantine or isolation. During this period, employees would not receive wage compensation and would be considered temporarily unable to work due to the pandemic. * **Employer-Caused Work Stoppage:** If an employee couldn't work due to employer activity suspension or restriction based on official decisions or a crisis situation, it was considered an employer-side work impediment. Employees were entitled to 80% of their average earnings, at least the minimum wage. * **Unemployment Support:** Extending unemployment benefit periods by one month for insured persons whose support periods expired during the crisis. * **Occupational Safety:** Amendments to the Occupational Safety and Health Act concerning information duties for new employees or those transferred to different workplaces were also introduced.
The full details are available in the Labour Code amendment document and related legal supplements.
Amendment to the Social Insurance Act and other laws, allowing deferral of premium payment obligations
06.04.2020
On April 3, 2020, an amendment to the Social Insurance Act was approved in parliament, which regulates the deferral of contribution payment obligations for insured persons who show a decrease in net t
On April 3, 2020, an amendment to the Social Insurance Act was approved in parliament, which regulates the deferral of contribution payment obligations for insured persons who show a decrease in net turnover or a decrease in income from business and other self-employment of 40% or more.
Contributions for March 2020 are due by July 31, 2020.
You can read the full law in the following document:
Amendment to the Social Insurance Act and other laws – deferral of contribution payment obligations
A parliamentary amendment approved on April 3, 2020, allows for the deferral of social insurance contribution payments for individuals and businesses experiencing significant financial hardship. Specifically, those who demonstrate a decline in net turnover or income from business and self-employment activities by 40% or more are eligible. This measure provides relief by postponing the payment deadline for contributions originally due in March 2020 to July 31, 2020. The amendment aims to support entities facing economic challenges by easing their immediate financial burdens. Further details on this legislative change and its implications are available in the full text of the amendment.
Suggestions for Further Measures for Entrepreneurs and Taxpayers
26.03.2020
Based on information from the Press Department of the Ministry of Finance of the Slovak Republic on March 16, 2020, the following proposals for measures, requiring legislative changes and future gover
Based on information from the Press Department of the Ministry of Finance of the Slovak Republic on March 16, 2020, the following proposals for measures, requiring legislative changes and future government/parliamentary decisions, were presented following discussions with business associations:
Discussions with banks are underway regarding the possibility of deferring loan and mortgage payments without negative credit reporting for borrowers. This includes freezing interest and principal payments for both individuals and legal entities.
Simplification and attractiveness of short-term preferential loans for businesses in selected sectors will be facilitated through the Slovak Guarantee and Development Bank (SZRB). Inspired by Germany, financial support for private sector investments, potentially via the Slovak Investment Holding (SIH) and the European Investment Bank (EIB), is proposed. This includes introducing systematic support for business investments in fixed assets through a "tax super-deduction" and accelerated depreciation. Adjustments to tax loss carryforward rules are also planned.
A postponement of tax return submission for all taxpayers from March 31 to June 30, 2020, is proposed, even for those who filed on time. The deadline for VAT payments will be extended, and penalties for late payments will be waived. Self-employed individuals will see a temporary cancellation of social and health contributions for three months (March-May), with these payments to be spread over the following 18 months. Payments to employees will be exempt from social, health contributions, and income tax.
Conditions for maintaining employment support will be radically simplified, including for small businesses and sole traders. The state budget will finance costs for supported electricity generation technologies for a defined period. The EU will be lobbied to allow the use of current ESIF funds to cover crisis impacts and economic recovery, initiating timely measures and rules. Changes to sickness benefit (OČR) conditions are also anticipated. Payment deadlines for customs debt will be extended by 30-40 days. Companies will not face penalties for failing to meet obligations like public tenders on time, and supervisory activities on businesses will be limited.
A state of emergency came into effect on March 16, 2020, at 6:00 AM, leading to the closure of most retail and service outlets, with exceptions for essential goods and services. Individuals returning from abroad are mandated to undergo 14-day isolation.
A summary of the measures implemented by the Central Crisis Staff and the Government is available.
Proposal of Measures Aimed at Helping the Economy in Connection with the Spread of the COVID-19 Virus
26.03.2020
To manage this situation, the Ministry of Economy of the Slovak Republic has prepared a proposal of measures aimed at supporting the economy. These measures are designed to mitigate the negative impac
To manage this situation, the Ministry of Economy of the Slovak Republic has prepared a proposal of measures aimed at supporting the economy. These measures are designed to mitigate the negative impacts of COVID-19 restrictions on businesses and employees. The core purpose is to rapidly enhance the financial health, liquidity, and cash flow of businesses and workers, prevent the collapse of the business environment, and maintain critical processes essential for managing the virus spread, all while ensuring stability and minimizing panic.
The proposal outlines 31 measures categorized into four areas. Immediately implementable measures include short-term interest-free loans, deferrals of tax filing and payment deadlines to June 30, 2020, and extended deadlines for tax audits. Interest on delayed income tax prepayments will be waived if paid by year-end. A three-month deferral of social and health insurance contributions is proposed for companies and self-employed individuals from March to June 2020. Wages will be exempt from social, health, and income taxes for employers unable to assign work due to closures. Import duty payment deadlines will also be extended.
Measures requiring legislative changes include modifying conditions for sickness benefits, introducing "quarantine incapacity for work," and simplifying support for job retention for SMEs and the self-employed. Other measures focus on business prevention and procedures, such as a chatbot for entrepreneurs and extended storage times for postal packages. To foster economic recovery, the proposal suggests removing limitations on tax loss carryforwards and promoting private sector investment through accelerated depreciation and specific financial instruments.
On March 26, 2020, the National Council of the Slovak Republic approved an amendment to Act No. 461/2003 Coll. on Social Insurance and other laws in connection w
Amendment to the Social Insurance Act
On March 26, 2020, the National Council of the Slovak Republic approved an amendment to Act No. 461/2003 Coll. on Social Insurance and other laws in connection with the spread of the infectious human disease COVID-19, intended as the first "social aid" in combating the pandemic. The adopted amendment regulates the following areas:
Sick Leave
According to the transitional provision § 293er, an employee who is deemed temporarily unable to work due to a quarantine measure or isolation during the extraordinary situation, state of emergency, or exceptional state declared in connection with COVID-19 (hereinafter referred to as "crisis situation") is entitled to sick leave from the first day of temporary incapacity to work. The determined amount of sick leave is 55% of the daily assessment base from the first day of temporary incapacity to work, provided by the Social Insurance Agency.
Nursing Benefit (OČR)
In accordance with the amendment to the Social Insurance Act, the Social Insurance Agency will grant nursing benefit (OČR) for caring for a child until the age of 11, or until the age of 18 if the child has a long-term unfavorable health condition, for the entire period schools and preschool facilities are closed due to the crisis situation. The duration and subsequent payment of currently initiated 14-day OČR will be automatically extended without requiring a new application. Insured persons claiming OČR in connection with the pandemic must submit a sworn statement to the Social Insurance Agency at the end of each month for which they are claiming OČR payment.
Forms:
Application for nursing benefit for coronavirus (pdf)
Application for nursing benefit (word)
Sworn statement for nursing benefit application in connection with the spread of COVID-19
Procedure for filling out the sworn statement
New form for nursing benefit from Social Insurance Agency
Neues Formblatt – Pflegegeldantrag von Sozialversicherungsanstalt
Support Projects for Employers and Self-Employed to Maintain Jobs
The amendment also expands the regulation of active labor market measures within the Act on Services and Employment. New provisions consider "projects to support job retention, including jobs performed or operated by self-employed individuals, and to support employee retention in employment in connection with the declaration of an extraordinary situation, state of emergency, or exceptional state and the elimination of their consequences, approved by the ministry or central office after government approval of conditions and implemented by the central office or authority" as active measures under § 54 para. 1.
The full amendment can be found in the following document:
Amendment to the Social Insurance Act
In view of the need to eliminate the spread of infection, special procedures have been adopted related to claiming individual benefits in case of suspected COVID-19 infection or diagnosis. These procedures can be found on the Social Insurance Agency's website.
Useful links:
Information about Coronavirus
Infos zum Coronavirus
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On March 26, 2020, Slovakia amended its Social Insurance Act to provide financial support during the COVID-19 pandemic. Key changes include granting sick leave from the first day of incapacity for those quarantined or isolated due to COVID-19, with the benefit set at 55% of the daily assessment base. Additionally, nursing benefits (OČR) for parents caring for children under 11 (or children with long-term health issues under 18) will be paid for the entire duration of school closures caused by the crisis, with automatic extensions for existing claims. Recipients of OČR must submit monthly sworn statements. The amendment also introduces projects to support employers and the self-employed in maintaining jobs and employees during the crisis. Specific procedures for claiming benefits related to COVID-19 are available on the Social Insurance Agency's website.
ACT ON CERTAIN EXCEPTIONAL MEASURES IN CONNECTION WITH COVID 19
26.03.2020
On March 26, 2020, Parliament approved a law on certain extraordinary measures related to COVID-19, primarily aimed at limiting the expiration of legal deadlines within the justice system. The main ob
On March 26, 2020, Parliament approved a law on certain extraordinary measures related to COVID-19, primarily aimed at limiting the expiration of legal deadlines within the justice system. The main objective of this new legislation is to mitigate bureaucratic processes across all government departments in response to the current situation. Specifically, the measures stipulate that deadlines established by legal regulations in private law relationships, from March 12, 2020, to April 30, 2020, will not run.
This law was enacted to address the challenges posed by the COVID-19 pandemic, which has necessitated adjustments to legal and administrative timelines. By suspending the running of deadlines, the government seeks to provide relief to individuals and businesses by preventing the loss of rights or obligations due to the extraordinary circumstances. The aim is to ensure that the pandemic does not unduly hinder legal proceedings or the management of private affairs. The intention is to ease the burden of adhering to strict deadlines during a period of widespread disruption and uncertainty.
On March 26, 2020, Parliament passed a law enacting extraordinary measures in response to COVID-19, with a focus on suspending legal deadlines. The primary goal of this legislation is to streamline bureaucratic processes across all sectors given the prevailing circumstances. The enacted measures dictate that legal deadlines within private law relationships, established from March 12, 2020, to April 30, 2020, will be paused. This initiative aims to alleviate administrative burdens and prevent the expiration of rights and obligations during the pandemic, thereby offering a necessary buffer for individuals and businesses facing unprecedented challenges. The law serves as a critical tool to maintain functionality within the legal system and across various government departments amidst the global health crisis.
In accordance with the law, employers must implement general prevention principles for occupational safety and health, including providing information, education,
Preventive Measures by the Employer
In accordance with the law, employers must implement general prevention principles for occupational safety and health, including providing information, education, and organizing work and resources. To mitigate the risk of COVID-19 spread, employers must assess workplace risks and take appropriate measures. These may include canceling business trips and events, ensuring hygiene facilities, educating employees, minimizing workplace visitors, isolating at-risk employees, ordering medical check-ups, and allowing remote work. Employers are also entitled to require employees to report their whereabouts in risk areas or other health-relevant information, even if it pertains to private life, as the interest in ensuring workplace health and safety prevails. If an employer knows an employee has returned from an affected country or been in contact with an infected person and continues to work, they can order an extraordinary medical examination to detect the virus, which the employee must undergo. In companies with employee representatives, these measures must first be discussed with them.
Quarantine
The Central Crisis Staff mandates a 14-day isolation for all individuals returning from abroad in designated facilities. Employees returning from affected countries without symptoms must monitor their health for 14 days and inform their employer of their return. Voluntary home isolation for 14 days is also an option for symptomatic employees. Employees not in risk areas or showing symptoms cannot arbitrarily stop working unless they arrange for leave or remote work with their employer. Unexcused absence is a breach of discipline.
Two types of quarantine exist: Mandatory and Voluntary. For mandatory quarantine ordered by public health authorities, the employer must excuse the absence and can reassign the employee to different work or location, including home office, without the employee's consent. If no alternative work is available, it constitutes a hindrance to work on the employee's side, which the employee must prove. Medical institutions must confirm such hindrances. During mandatory quarantine, employees are considered temporarily unable to work and are entitled to income replacement from the employer for the first 10 days, followed by sickness benefits. For voluntary quarantine due to suspicion of infection but without symptoms, employers can grant leave with or without wage replacement, or employees can use their vacation days.
Employer Options and Employee Entitlements
Employers can offer excused absences for temporary incapacity due to quarantine or caring for family members, but without wage replacement. Remote work ("home office") is only possible if agreed upon in company regulations or employment contracts, requiring written amendment if not initially included. For essential health measures, deviations can be documented via email. Home office can also reduce on-site staff density. Employers can order employees to take vacation with 14 days' notice, which can be shortened with employee consent in exceptional circumstances. Similarly, compensatory time off can be arranged, usually by agreement. Shift schedules must be announced at least a week in advance, but changes may require individual assessment of employment documentation. Employers can also grant paid or unpaid leave for other reasons, to be worked later. In cases where employers prevent at-risk employees from working or close facilities to prevent virus spread, it's considered a hindrance on the employer's side, entitling employees to average wage compensation, unless an agreement with employee representatives specifies otherwise. This also applies if production is temporarily halted due to external business circumstances. An agreement with employee representatives on serious operational reasons can allow for reduced wage compensation (at least 60% of average earnings), potentially saving employers up to 40% in wage replacement costs. These measures can be implemented proactively by employers to prevent infection spread, even without confirmed cases. Further advice on mitigating economic impacts is available upon contact.
Change in reporting of intra-Community acquisitions by a foreign person
国外事業者による共同体内取得の申告に関する変更
17.02.2020
Effective January 1, 2020, an amendment to Article 44 of the VAT Act clarifies tax exemption for domestic acquisition of goods from another Member State when the acquirer is entitled to a full VAT ref
Effective January 1, 2020, an amendment to Article 44 of the VAT Act clarifies tax exemption for domestic acquisition of goods from another Member State when the acquirer is entitled to a full VAT refund. This change primarily affects foreign entities without a Slovak VAT establishment (registered under Article 5) who qualify for a complete VAT refund.
Such foreign entities are now obligated to file a VAT return even for exempt acquisitions, reporting it on line 15 as an exempt supply, rather than declaring it as a taxable transaction and claiming an offset as previously done. This shift simplifies reporting while maintaining a neutral impact on the entity's overall tax liability. For instance, a foreign entity moving goods to Slovakia for exclusive supply to Slovak taxable persons, where VAT is reversed, qualifies for this exemption and must report the goods on line 15 of their VAT return.
Changes in the payment of advance corporate income tax from January 1, 2020
23.01.2020
Changes in Corporate Income Tax Advance Payments from January 1, 2020
Effective January 1, 2020, several changes were introduced regarding corporate income tax advance payments. The lower threshold f
Changes in Corporate Income Tax Advance Payments from January 1, 2020
Effective January 1, 2020, several changes were introduced regarding corporate income tax advance payments. The lower threshold for quarterly advance payments increased from €2,500 to €5,000. All calculations are now rounded mathematically to two decimal places.
The method for calculating advance tax payments has been altered. Previously, the tax for the preceding period used to determine advance payments was reduced by reliefs from the Corporate Income Tax Act, foreign tax credits, and tax withheld at source. From January 1, 2020, this calculation is reduced only by reliefs stipulated by the Act. The tax rate used for advance payment calculations is now based on the rate applicable in the period immediately preceding the advance payment period, not the current period as before.
For advance payments due before the tax return filing deadline for 2019, the "last known tax liability" is calculated based on the 2018 tax return, excluding items like foreign tax credits and withholding tax deductions, and was rounded down. Advance payments due after the 2019 tax return filing deadline are based on the 2019 tax return using the revised calculation method.
New entities now have until the end of the month following the tax return deadline to settle their advance payments, a change from the previous requirement to settle by the tax return deadline itself.
For self-employed individuals, the €5,000 threshold for advance payments also applies, but the calculation changes take effect after the 2020 tax return filing deadline. The "last known tax liability" for self-employed individuals is now calculated using a 19% tax rate on partial taxable income from specific sources (sections 6(1) and 6(2)), reduced by tax loss. It no longer includes income from employment, rental income, or income from works/performances, nor does it consider non-taxable amounts or tax bonuses.
The amendment to the law on vehicle operation and road traffic, effective January 1, 2020, introduces significant changes to the motor vehicle tax law. These updates, particularly concerning the defin
The amendment to the law on vehicle operation and road traffic, effective January 1, 2020, introduces significant changes to the motor vehicle tax law. These updates, particularly concerning the definition of "business use" of a vehicle, will impact all entrepreneurs liable for this tax from that date. "Business use" is now broadly defined, including actual business use, accounting for the vehicle, inclusion in tax records, claiming related expenses, or use by an employee receiving travel allowances for non-business purposes. This means a vehicle can become subject to tax even before its actual business use, for instance, upon its inclusion in company assets.
Vehicles with special registration numbers (M for new/test vehicles, H for historic, S for sports) are now exempt from tax. The law also clarifies the timing of tax liability changes, ensuring no double taxation within a calendar year. Tax liability now ceases on the last day of the month of the event causing cessation, and new liability begins on the first day of the following month. The law also expands the reasons for tax cessation to include vehicle theft, confirmed by police. Furthermore, the tax period for businesses that temporarily suspend operations now ends on the last day of the month of suspension, with tax returns due within one month. For deceased taxpayers, the tax period ends on the last day of the month of death.
Other changes include a penalty for violating tax exemption conditions, a minimum tax payment threshold of 5 euros, and updated annual tax rates based on vehicle age, with reductions for hybrid, CNG, LNG, and hydrogen-powered vehicles. Advance tax payments are now calculated based on projected annual tax liability.
Act No. 390/2019 Coll. – Amendment to the Commercial Code and the Commercial Register Act
第390/2019号法案:《商法典》及《商业登记法》修正案
09.01.2020
The Commercial Register amendment introduces significant changes, primarily mandating electronic submissions to the Commercial Register, with limited exceptions for physical documents. Inactive compan
The Commercial Register amendment introduces significant changes, primarily mandating electronic submissions to the Commercial Register, with limited exceptions for physical documents. Inactive companies will be deleted, and required data will be updated. Specifically, the duration of legal entities will be recorded, and shareholders' dates of birth and identification numbers will be mandatory entries, requiring companies to update this information by September 30, 2021. Real estate used as a registered office will require a written consent with an officially certified signature from the property owner.
Foreign individuals conducting business in Slovakia will now require a trade license. Companies facing insolvency, indicated by a low equity-to-liability ratio, will be classified as companies in crisis, with an expanded definition including companies between dissolution and liquidation. Failure to file accounting statements for over six months will be grounds for court-ordered company dissolution. The liquidation process is being more strictly regulated, with a mandatory advance payment for the liquidator's fees and expenses. Additional liquidation will be introduced for companies found to possess assets after deregistration. Furthermore, significant asset transactions for dissolved companies will require expert appraisal and approval from the highest company body. These changes, largely effective from October 1, 2020, aim to formalize processes and ensure data accuracy within the Commercial Register.
The transposition of EU Directive 957/2018/EU into Slovak law significantly expands the scope of employment conditions for posted workers. Originally focused on minimum wage rates, the directive now m
The transposition of EU Directive 957/2018/EU into Slovak law significantly expands the scope of employment conditions for posted workers. Originally focused on minimum wage rates, the directive now mandates comparable working and remuneration conditions for foreign workers posted to Slovakia.
Specifically, host employers must now ensure that posted employees receive not only the minimum wage but also various mandatory wage components and allowances, including overtime pay, holiday pay, weekend pay, night work allowances, compensation for difficult working conditions, and other mandatory components stipulated by higher-level collective agreements. Furthermore, the directive clarifies that compensation for travel expenses, accommodation, and meals during business trips or commutes within Slovakia must be provided in accordance with Slovak law or applicable collective agreements. These allowances can be offset by comparable benefits provided by the posting employer under the laws of their home country.
The directive also introduces a distinction based on the duration of posting: short-term postings (up to 12 or 18 months) will apply the core conditions, while long-term postings (over 12 or 18 months) will generally require compliance with all Slovak labor law, with specific exceptions related to the commencement and termination of employment contracts and non-competition clauses. New information obligations for user employers regarding temporary employers are also introduced, along with rules for calculating posting periods in cases of successive postings.
The cost of living minimum in Slovakia has been increased from €205.07 in 2019 to €210.20 in 2020. The minimum wage has also risen from €520 to €580 per month, with the hourly rate increasing from €2.
The cost of living minimum in Slovakia has been increased from €205.07 in 2019 to €210.20 in 2020. The minimum wage has also risen from €520 to €580 per month, with the hourly rate increasing from €2.989 to €3.333.
The monthly tax bonus for children is changing: for children over 6 years old, it will increase from €22.17 to €22.72. For children under 6, the increased bonus of €45.44 per month will apply throughout 2020. Annually, this amounts to a €545.28 tax reduction for children under 6 and €272.64 for children over 6.
The non-taxable part of the tax base for an individual will increase in 2020 due to both the higher cost of living minimum and an increased calculation coefficient, from €328.12 to €367.85 monthly. Annually, this translates to an increase from €3,937.35 to €4,414.20, potentially reducing an individual's tax liability by €90.60.
Income tax rates for 2020 are: 15% for individuals earning up to €100,000 annually, 19% for annual incomes up to €37,163.36 (an increase of €906.98 compared to the previous year), and 25% for income exceeding €37,163.36.
The threshold for paying income tax prepayments has doubled from €2,500 in 2019 to €5,000 in 2020. For self-employed individuals, the minimum contribution base for health and social insurance has increased to €506.50, and the maximum base for social insurance is now €7,091. Health insurance still has no maximum base.
A new benefit for children's sports activities allows employees to claim 55% of eligible costs, up to €275, for their child's sports participation, provided they have been employed for at least 24 months. Self-employed individuals can also utilize this benefit under similar conditions. Employers can now offer a tax-exempt housing allowance of up to €100 per month per employee, an increase from €60.
Reduction of Income Tax Rate for Selected Tax Entities
11.10.2019
Reduction of Income Tax Rate for Selected Tax Entities
A novel amendment will reduce the income tax rate from 21% to 15% for legal entities and natural persons earning income under Section 6(1) and (
Reduction of Income Tax Rate for Selected Tax Entities
A novel amendment will reduce the income tax rate from 21% to 15% for legal entities and natural persons earning income under Section 6(1) and (2) of the Income Tax Act, whose annual income (revenues) is up to EUR 100,000. This reduced rate will apply for taxable periods beginning no earlier than January 1, 2020.
Increase in the Non-Taxable Part of the Tax Base per Taxpayer
The amount of the non-taxable part of the tax base per taxpayer is based on a multiple of the valid living minimum. However, this multiple of the living minimum will increase from the original 19.2 times to 21 times from 2020. In 2020, the sum of the non-taxable part of the tax base per taxpayer will be EUR 4,414.20.
Change in the Assessment Base for Social Insurance
In addition to changes in the Income Tax Act, the minimum and maximum assessment bases for social insurance are also being adjusted from 2020. The new minimum assessment base for 2020 will be EUR 506.50, with the monthly insurance premium for self-employed individuals being EUR 167.89, while the maximum assessment base will be EUR 7,091, with a monthly insurance premium for self-employed individuals of EUR 2,350.66. These new assessment bases apply from January 2020. Self-employed individuals affected will pay the new premium for the first time in February 2020, as notifications from the Social Insurance Agency will be sent in January 2020.
Summary:
This document outlines significant tax and social insurance changes effective from January 1, 2020. A key change is the reduction of the income tax rate to 15% for legal entities and individuals with annual incomes up to EUR 100,000. Additionally, the non-taxable portion of the tax base per taxpayer will increase to EUR 4,414.20, calculated as 21 times the living minimum. For social insurance, both the minimum and maximum assessment bases are being adjusted. The new minimum assessment base is EUR 506.50, resulting in a monthly premium of EUR 167.89 for the self-employed. The maximum assessment base is set at EUR 7,091, with a corresponding monthly premium of EUR 2,350.66 for the self-employed. These adjustments will impact monthly contributions starting in February 2020.
We Supported the Beneficiary Event OSMIDIV for the Mentally Handicapped
발달장애인을 위한 후원 행사 'OSMIDIV'를 지원했습니다.
24.09.2019
We are pleased to have been able to financially support the annual charity event again, which took place on August 18, 2019, in the amphitheater in Banská Štiavnica and was intended for mentally and p
We are pleased to have been able to financially support the annual charity event again, which took place on August 18, 2019, in the amphitheater in Banská Štiavnica and was intended for mentally and physically disabled children from institutions and facilities for disabled people from social service homes.
Thanks to our help, the disabled children were also able to learn new skills at workshops such as Latin American Zumba dances, face painting, decorating plaster casts, encaustic – painting with hot wax on paper, rattan crafting, crossbow and archery shooting, coin minting, making metal jewelry, and leather accessories.
This article offers expert advice for business owners and investors navigating the complex process of company acquisition. It emphasizes that selling a company is a rare and demanding event, both time
This article offers expert advice for business owners and investors navigating the complex process of company acquisition. It emphasizes that selling a company is a rare and demanding event, both time-wise and psychologically.
Experts advise selling when the company is growing, profitable, and well-capitalized, not during a downturn. Common reasons for selling include lifestyle changes, retirement, lack of successors, or reinvesting capital. Crucially, sellers must ensure meticulous accounting, management reports, and market knowledge. Legal preparation is also vital to ensure swift payment and minimize seller liability for hidden debts, while buyers often prioritize non-compete clauses.
Company valuation methods include income-based (future cash flows) and asset-based (market value minus liabilities), chosen based on purpose and company type. Finding serious investors requires discretion, with platforms like ČSOB Match'it offering a secure, verified environment for connecting businesses with investors, ensuring anonymity and data protection through non-disclosure agreements and verified user access. Legal documentation, including non-disclosure agreements, letters of intent, and transaction agreements, is essential, with its complexity depending on the deal structure (share deal vs. asset deal). Both share and asset deals carry unique risks, such as undisclosed liabilities in share deals or the need for new licenses in asset deals.
AMENDMENT TO THE LAW ON TAX ADMINISTRATION (TAX CODE)
12.09.2019
A draft amendment to the Tax Administration Act (Tax Code) is currently undergoing interdepartmental review, proposing several significant changes. Key alterations include clarifying the definition of
A draft amendment to the Tax Administration Act (Tax Code) is currently undergoing interdepartmental review, proposing several significant changes. Key alterations include clarifying the definition of a taxpayer to include organizational units of associations acting in their own name, and allowing tax administrators to waive official translations of submitted documents to reduce administrative burden. New rules will govern the replacement of overlapping powers of attorney, ensuring a new one supersedes the old where conflicts arise. For electronically mandated communicators, submissions made outside the official electronic portal will require correction before being considered filed. Taxpayers will be barred from filing tax returns for periods where tax was assessed by proxy if they fail to comply with requests. Taxpayers will need to prove facts requested by tax administrators not just during audits but in all tax administration processes. Electronic delivery will be refined to target those with accessible electronic services, those requesting it, and voluntarily registered users. Tax audit reports will no longer require the reason for commencement to avoid compromising investigations based on external tips. The scope of tax audits can be expanded to include other laws, and protocol delivery will integrate the tax assessment notice. The start date for tax assessment by proxy will be the day after notification. Notifications for payment reallocations or overpayments below €5 will be discontinued for efficiency. Decisions on tax deferral or installment payments will be automatically voided if the original tax assessment is annulled. The period during which deferral or installment payments are disallowed due to non-compliance will be reduced from five to two years. Null decisions will include those issued after the right to assess tax has expired. The obligation for individuals and legal entities to report bank account numbers will be removed, as payment service providers already supply this information. Tax assessment decisions must be issued within three months of the expression of opinion on the protocol. The deadline for forwarding appeals will commence after the appeal submission period ends or upon the taxpayer’s supplementation of the appeal. Tax overpayments will be refunded to specified accounts, with provisions for cases where accounts are not provided or known. The moment of creation for a tax administrator's lien will be tied to its enforceability, with immediate notification to debtors and relevant registers. The statute of limitations for tax debt recovery will be aligned with bankruptcy law, with a ten-year extension after the annulment of debt relief. Tax execution will be suspended when a court application is filed to exclude assets until a final court decision. Electronic communication with banks will be implemented for expanded garnishments. A new tax execution method, driver's license seizure, will be introduced, excluding professional drivers. Specific times for vehicle presentation during movable property sales will be defined to prevent execution obstruction. The period for paying execution costs will start upon the delivery of the tax administrator's decision. Fines for non-compliance with non-monetary obligations will have a lowered minimum. The calculation of fines for assessments made by tax assessment orders will be defined. Fines will not be levied if a supplementary tax return reduces a previously claimed tax refund or entitlement before it has been processed.
A proposed amendment to the Tax Administration Act aims to streamline tax processes with several key changes. It clarifies taxpayer definitions, allows for waiving official translations of documents, and modifies rules for powers of attorney, ensuring new ones supersede conflicting older versions. Submissions by those required to communicate electronically must be made via the official portal or corrected. Taxpayers failing to comply with requests after tax assessment by proxy will be barred from filing subsequent returns. Taxpayers must provide evidence requested by tax administrators in all instances, not just during audits. Electronic delivery will be refined for specific user groups. Tax audit reports will no longer require the reason for commencement, and audit scope can be broadened. The process for tax assessment by proxy will have a defined start date. Notifications for minor payment reallocations or overpayments will be eliminated for efficiency. Decisions on tax deferral or installment payments will be automatically voided if the original tax assessment is annulled, with a reduced penalty period for non-compliance. Null decisions will encompass those issued after the assessment right has expired. The reporting of bank account numbers will be removed from taxpayer obligations. Tax assessment decisions will have a three-month deadline. Appeal forwarding rules will be adjusted for timeliness. Overpayments will be refunded to specified accounts. Tax administrator liens will be based on enforceability. Statute of limitations for tax debt recovery will align with bankruptcy law. Tax execution will be suspended if assets are challenged in court. Driver's license seizure will be introduced as a tax execution method. Specifics for vehicle presentation during sales and cost payment periods will be clarified. Fines for non-compliance will have lower minimums, and fines will not apply for certain corrective tax returns.
Does your company provide fuel cards for its subsidiaries or companies within the group? This newsletter informs you about the judgment of the Court of Justice of the European Union No. C-235/18 Vega
Does your company provide fuel cards for its subsidiaries or companies within the group? This newsletter informs you about the judgment of the Court of Justice of the European Union No. C-235/18 Vega International Car Transport and Logistic, in which the Court ruled that providing fuel cards by a parent company to its subsidiaries, enabling them to refuel vehicles they use for transport, can be classified as a service of granting credit, which is exempt from VAT.
For example: A parent company provides fuel cards to its subsidiaries based on an agreement with a fuel supplier. The subsidiaries use these cards to fuel vehicles owned by them. The parent company receives a monthly invoice for all fuel card transactions, claims input VAT on the fuel, and then re-invoices the fuel to its subsidiaries with a 2% markup. According to the judgment, the parent company is not entitled to deduct VAT because it doesn't have ownership rights over the fuel, like a true owner. The subsidiary directly purchases the fuel and makes all decisions regarding the purchase conditions. The re-invoicing of the fuel is not considered a sale of fuel by the parent company, as the supply of fuel was not made for the benefit of the parent company. The parent company only has an intermediary role through the fuel cards. Therefore, the parent company is providing a financial service similar to granting credit, which is VAT-exempt.
On June 26, 2019, the National Council of the Slovak Republic approved in the first reading a bill amending the VAT Act. The proposal suggests extending the reduced VAT rate of 10% to all foodstuffs,
On June 26, 2019, the National Council of the Slovak Republic approved in the first reading a bill amending the VAT Act. The proposal suggests extending the reduced VAT rate of 10% to all foodstuffs, excluding beverages, sweets, food additives, flavorings, nutritional supplements, and confectionery. This change, if approved, would take effect on January 1, 2020.
On the same day, another bill was approved in the first reading, supplementing Annex No. 7 of the VAT Act, which defines the list of goods with a reduced tax rate. This proposal aims to introduce a reduced tax rate on newspapers, magazines, and periodicals, including those illustrated or containing advertising material. However, the reduced rate will not apply if advertising content constitutes more than 50% or erotic content exceeds 10% of the total content. This change would also take effect on January 1, 2020, if approved.
Currently, interdepartmental review is underway for a government-proposed amendment to the VAT Act, introducing several changes, including a new "CALL-OFF STOCK" regime for the supply of goods. This regime regulates the transfer of goods by a taxable person from Slovakia to another member state for subsequent delivery to a pre-known customer. Conditions include the goods being sent by the VAT payer, the payer not having a seat or establishment in the destination member state, the recipient being VAT-identified in that state, the payer recording the transfer, and including the recipient's VAT number in a summary statement. The amendment also clarifies conditions to differentiate the "CALL-OFF STOCK" regime from a standard supply of goods, particularly the requirement for the goods to be transferred to the buyer within 12 months.
Further amendments address record-keeping obligations under the "CALL-OFF STOCK" regime, summary statements, assignment of transport in EU chain transactions, VAT reduction for gratuitous transfers of assets up to EUR 1,700, changes to conditions for VAT exemption on goods supplied to the EU, correction of deducted tax on services performed on investment property, and adjustment of deducted VAT on movable investment property sold within five years of acquisition. These amendments also aim to clarify documentary evidence for VAT exemption on intra-EU supplies and consequences of incorrect summary statements.
The proposed amendment to the Income Tax Act introduces several changes, most notably the concept of a "micro-taxpayer," defined as a physical or legal entity with income/revenue not exceeding EUR 49,
The proposed amendment to the Income Tax Act introduces several changes, most notably the concept of a "micro-taxpayer," defined as a physical or legal entity with income/revenue not exceeding EUR 49,790 (the VAT registration threshold). Micro-taxpayers benefit from advantageous depreciation rules for leased tangible assets, allowing them to include depreciation in tax expenses regardless of rental income. They can also freely determine the depreciation amount for assets in depreciation groups 0-4, up to the initial cost (excluding cars over EUR 48,000), but cannot interrupt depreciation. If an asset is disposed of before full depreciation, the tax base must be increased by the difference between claimed and standard depreciation.
Micro-taxpayers using double-entry bookkeeping can also deduct the creation of provisions for receivables in line with their accounting records. The amendment introduces a new depreciation group (0) for electric vehicles with a 2-year depreciation period. The loss carryforward period is extended from four to five years, limited to 50% of the tax base (except for micro-taxpayers).
Simplifications are proposed for employee tax allowances, requiring a declaration only upon employment and when conditions change. The amendment also changes rules regarding expenses deductible only upon payment, where the payment condition is not necessary if expenses are part of the asset acquisition cost. However, consultancy services and management fees will only be deductible after payment. The threshold for mandatory advance tax payments increases from EUR 2,500 to EUR 5,000. Employers' transportation contributions are tax-free up to EUR 60 monthly. The non-statute-barred status of receivables is assessed at the end of the tax period. Super deduction for R&D expenses increases to 200%. New provisions address hybrid mismatches to prevent undue tax advantages. Furthermore, income from capital funds of contributions are added to the source of income from the territory of the Slovak Republic.
The amount of meal allowance increased from 1 July 2019.
The proposed amendment to the Accounting Act, effective from January 1, 2020, primarily focuses on modifying the conditions that trigger the mandatory
**Accounting Law and eKasa System in Slovakia**
The proposed amendment to the Accounting Act, effective from January 1, 2020, primarily focuses on modifying the conditions that trigger the mandatory audit of regular and extraordinary individual financial statements. The amendment suggests increasing the size criteria for audit obligation. The total assets threshold is raised from EUR 1,000,000 to EUR 2,000,000, and the net turnover threshold from EUR 2,000,000 to EUR 4,000,000. The National Council anticipates that this change will reduce the administrative burden on businesses.
The Financial Administration introduced a new system called eKasa, effective from July 1, 2019, mandating its adoption by all businesses. Traditional Electronic Cash Registers (ECR) are replaced by Online Cash Registers (OCR). The term "cash register" now encompasses not only traditional ECRs but also mobile phones, computers, tablets, or Virtual Cash Registers (VCR).
An OCR can be a traditional fiscal ECR, but it must be connected online to the Financial Administration after July 1, 2019. VCR is a service provided by the Financial Directorate of the Slovak Republic, communicating through a terminal device and available exclusively through mobile applications and a client environment established on the Financial Directorate's website.
Online connection to the new system is mandatory for all businesses, eliminating the option of voluntary connection via VCR from July 2019. Businesses must register for the new system between April 1, 2019, and June 30, 2019. A transitional period exists from April 1, 2019, to July 1, 2019, with full transition to OCR by July 1, 2019.
Trade in goods between EU member states with regard to QUICK FIXES in the Czech Republic
04.06.2019
The "Quick Fixes" aim to standardize VAT rules for B2B goods transactions within the EU, with the Czech Republic already implementing EU legislation into its VAT law. Significant changes in the Czech
The "Quick Fixes" aim to standardize VAT rules for B2B goods transactions within the EU, with the Czech Republic already implementing EU legislation into its VAT law. Significant changes in the Czech Republic will primarily affect the handling of goods under the call-off stock regime. Other changes mainly clarify existing practices.
The Quick Fixes, based on EU Directives 2018/1910 and 2018/1912, cover: call-off stock, assigning transport in chain transactions, verifying customer VAT IDs via VIES, and proving VAT exemption for intra-community supplies.
Regarding call-off stock, current Czech law has a brief paragraph interpreted by a 2004 agreement between tax advisors and the tax administration. This interpretation involves a known customer with a Czech VAT ID, with the fiction of acquisition occurring upon warehousing and subsequent withdrawals not considered taxable. The VAT due date follows standard principles. From January 1, 2020, the new legislation will require the supplier to be registered for VAT for intra-community supplies abroad, with a known Czech customer holding a VAT ID. The supplier will report the transfer in a summary report, and both parties must maintain records according to EU law. The customer declares the acquisition in their VAT return upon withdrawal, within 12 months. Violations result in the supplier conducting a taxable transfer in the Czech Republic.
For chain transactions, current Czech law lacks specific rules, leading to disputes and potential fraud. From January 1, 2020, EU rules will apply, assigning transport to the transaction between the supplier and intermediary, unless the intermediary provides their VAT ID from the dispatching member state, shifting the transport assignment to the intermediary's supply.
Verifying VAT IDs via VIES is already a substantive condition in the Czech Republic for VAT exemption on intra-community supplies. This practice will continue unchanged from January 1, 2020.
Currently, proving VAT exemption relies on Czech case law, with a purchaser's declaration serving as supporting evidence. Accepted evidence includes transport documents like CMR. High-risk deliveries, especially with supplier or customer transport, require caution. From January 1, 2020, the Czech tax administration will accept the documents listed in European legislation for proof of transport.
Austria: Tax Changes in Transportation – "Quick Fixes" for Chain Transactions Take Effect January 1, 2020
04.06.2019
On December 4, 2018, the EU Council of Finance Ministers approved "quick fixes" regarding chain transactions, to be implemented within Article 36a of the VAT Directive (Council Directive 2006/112/EC).
On December 4, 2018, the EU Council of Finance Ministers approved "quick fixes" regarding chain transactions, to be implemented within Article 36a of the VAT Directive (Council Directive 2006/112/EC). These rules do not apply to transactions with third (non-EU) countries.
A chain transaction involves multiple successive supplies with at least three parties, where goods are directly transported from the first supplier to the final customer. Only one physical movement of goods occurs, implying only one transport. Besides the supply linked to the transport, at least one other supply exists in each chain transaction, not connected to the physical movement. The new adjustments focus on intra-community chain transactions initiated by an intermediary.
Previously, VAT interpretation issues arose. Article 36a aims to provide greater legal certainty due to inconsistencies in national regulations and incomplete international or supranational rules.
The new regulation defines a chain transaction as described above. Article 36a of the VAT Directive aligns with existing Austrian methodology. Generally, transport is attributed to the party initiating it. However, the intermediary has the option to influence this attribution. If the intermediary initiates the supply, the transport is generally attributed to them. However, if the intermediary acts with a VAT ID from the country of dispatch, the transport is attributed to the supply from the intermediary to the final customer.
The new regulation only offers legal certainty when the intermediary initiates transport. Otherwise, legal interpretation remains inconsistent. If the first or last customer initiates transport, transport attribution must follow established case law. The main point of contention remains determining where the right to dispose of the goods transfers to the final customer. While Article 36a (Directive 2006/112/ES) improves legal certainty, a comprehensive regulation covering all possible chain transaction scenarios (at least within the intra-community area) would be desirable.
The largest European VAT reform since 1993 – new rules regarding consignment warehouses, chain transactions, and intra-community supplies from January 1, 2020.
The JStG 2018 law necessitates the implementation of "quick fix" measures, approved in December 2018 at the European level, into national law by January 1, 2020. These measures aim to facilitate intra
The JStG 2018 law necessitates the implementation of "quick fix" measures, approved in December 2018 at the European level, into national law by January 1, 2020. These measures aim to facilitate intra-community trade until a definitive VAT system based on the destination principle is established. The quick fixes, effective from January 1, 2020, address consignment stocks and intra-community supplies.
For consignment stocks, specifically call-off-stock arrangements where a single customer withdraws goods, the new rules, according to Article 17a of the VAT Directive, state that transferring goods to another member state is not equivalent to a taxable supply if certain conditions are met. VAT is only triggered upon withdrawal from the consignment stock, eliminating the supplier's tax obligation in the destination country.
Regarding intra-community supplies, the VAT Directive now mandates that a valid VAT ID and its communication to the supplier are essential for tax exemption. Failure to submit or accurately complete summary reports (relating to VAT) can jeopardize tax exemption unless the supplier can justify the omission to the authorities. Additionally, proving an intra-community supply requires at least two non-contradictory documents from independent parties like CMR documents or freight invoices.
These changes necessitate stricter verification of customer VAT IDs, accurate summary reports, and correct invoicing procedures. While the quick fixes provide legal certainty for consignment stocks, businesses claiming VAT exemptions on intra-community supplies face increased evidentiary requirements. The hope remains that the eventual transition to a definitive VAT system will further ease the burden on businesses.
The European Commission approved four VAT "Quick Fixes" at the end of 2018, effective from January 1, 2020, aimed at improving cross-border trade. These fixes address: simplifying call-off stock arran
The European Commission approved four VAT "Quick Fixes" at the end of 2018, effective from January 1, 2020, aimed at improving cross-border trade. These fixes address: simplifying call-off stock arrangements, making VAT ID a substantive requirement for VAT exemption, establishing unified criteria for chain transactions, and standardizing proof of transport for intra-community supplies.
For call-off stock, the changes treat the transfer to a consignment warehouse in another member state for a pre-determined customer as a single supply in the dispatching state and an acquisition in the receiving state, avoiding the need for the supplier to register in the destination country. A valid VAT ID of the recipient becomes a material condition for VAT exemption on intra-community supplies. Lack of a valid VAT ID reported to the supplier disqualifies the zero VAT rate application.
For chain transactions, new rules determine which supply in the chain is linked to the transport of goods. If a intermediary supplier arranges the transport and is VAT registered in a different member state, the transport is attributed to the supply to that intermediary. Standardized proof of transport is also introduced, requiring suppliers to provide at least two pieces of evidence, such as a signed CMR document or official documents, to demonstrate that goods have moved to another member state. If the recipient organizes the transport, they must provide a written statement to the supplier confirming the transport.
2019년 4월, 슬로바키아 국세청은 브렉시트 발효 전후 영국 기업의 부가가치세(VAT) 환급 절차를 명확히 하는 지침을 발표했습니다.
부가세 환급 신청 절차는 브라티슬라바 세무서에 신청서를 제출하는 시점을 기준으로 달라집니다. 영국이 유럽연합(EU)을 탈퇴하기 전에 신청서를 제출한
How should a British business operating in Slovakia prepare for Brexit?
The Slovak Financial Administration issued a methodological guideline in April 2019 clarifying the VAT refund procedure for UK applicants before and after the UK's withdrawal from the EU.
The application process for VAT refunds depends on the date the application is submitted to the Bratislava Tax Office. If the application is filed before the UK's withdrawal date, the relevant period (before December 31, 2018, or during 2019) and the timing of the decision are irrelevant. These applications will follow the existing procedure (electronic submission via the VAT REFUND system in the UK), like other EU applicants. After the UK's withdrawal, UK applicants must apply as third-country applicants, submitting VAT refund requests to the Bratislava Tax Office by June 30 of the following year.
2019년 4월, 슬로바키아 국세청은 브렉시트 발효 전후 영국 기업의 부가가치세(VAT) 환급 절차를 명확히 하는 지침을 발표했습니다.
부가세 환급 신청 절차는 브라티슬라바 세무서에 신청서를 제출하는 시점을 기준으로 달라집니다. 영국이 유럽연합(EU)을 탈퇴하기 전에 신청서를 제출한 경우, 환급 대상 기간이나 세무 당국의 결정 시점과 관계없이 기존과 동일한 절차를 따릅니다. 즉, 다른 EU 회원국 기업과 마찬가지로 영국의 부가세 환급 시스템(VAT REFUND system)을 통해 전자 방식으로 신청하면 됩니다.
브렉시트 이후에는 영국 기업도 비(非)EU 국가 기업, 즉 '제3국' 신청자로 분류됩니다. 이에 따라, 부가세 환급을 받으려면 다음 해 6월 30일까지 브라티슬라바 세무서에 관련 서류를 직접 제출해야 합니다.
What do we recommend to entrepreneurs in Slovakia trading with the UK?
对于和英国有贸易往来的斯洛伐克企业家,我们有何建议?
영국과 거래하는 슬로바키아 기업가를 위한 권장 사항은 무엇일까요?
29.05.2019
Given the possibility of a hard Brexit, the company recommends several actions. If your company purchased goods or services from a UK VAT payer in 2019, file for a UK VAT refund well before the UK lea
Given the possibility of a hard Brexit, the company recommends several actions. If your company purchased goods or services from a UK VAT payer in 2019, file for a UK VAT refund well before the UK leaves the EU. Review all intra-group business agreements with the UK, like royalty payments, and assess withholding tax obligations. Scrutinize all contracts and related payments to the UK, such as leases, and evaluate the need for tax security.
Companies with existing or planned trade relations with the UK should apply for an EORI identifier from the Slovak Financial Directorate. Communicate with business partners to address potential supply chain disruptions. If registered for the VAT Mini One-Stop Shop in the UK, register in another EU member state.
Assess whether certificates, licenses, or permits issued by UK authorities will remain valid in the EU post-Brexit, particularly in sectors like automotive, healthcare, transport, broadcasting, and finance. Examine supply chains regarding rules of origin, treating UK inputs as non-originating to secure preferential EU origin for your goods. If unfamiliar with trade procedures for third countries, familiarize yourself with these practices. The company offers assistance for navigating Brexit challenges through its experienced team and UK partners.
The United Kingdom's departure from the EU has been a major topic at the European level for the past two years. A "hard BREXIT" would occur on October 31, 2019, if the UK didn't approve the Withdrawal
The United Kingdom's departure from the EU has been a major topic at the European level for the past two years. A "hard BREXIT" would occur on October 31, 2019, if the UK didn't approve the Withdrawal Agreement or request a longer extension. Without an agreement, the exit will impact citizens, businesses, and authorities in both the UK and the EU, bringing changes to border controls, the validity of licenses, and data transfer conditions.
Slovak businesses need to prepare, especially in customs and VAT. Without a deal, customs authorities will apply third-country rules to UK trade, including customs declarations and tariffs. Companies trading regularly with the UK can apply for simplified customs procedures. Those new to UK trade require an EORI number. Post-Brexit, inputs from the UK won't count as "EU content" for preferential tariffs.
For VAT, the UK becomes a third country, impacting buying and selling goods, and VAT refunds for Slovak applicants will follow UK national legislation after Brexit. Businesses using the "MOSS" scheme must register within an EU member state, not the UK.
In international taxation, the double taxation treaty remains, but UK taxpayers are treated as third-country taxpayers. Notably, exemptions for interest and license fees under the EU Parent-Subsidiary Directive will no longer apply. Tax security measures will be implemented, requiring payers to secure 19% of taxable income paid to UK residents. An example illustrates this with rental income paid to a UK property owner, where the Slovak company must secure 19% tax.
올해도 세계적인 높이뛰기 대회인 '반스카 비스트리차 높이뛰기 대회'를 후원했습니다. 특히 올해는 25주년을 맞이한 기념적인 대회였습니다.
BBL 2019 결과 확인: www.banskobystrickalatka.sk
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요약:
This year, we supported the well-known international high jump meeting, the Banská Bystrica High Jump Meeting, this time the jubilee 25th edition.
Results of BBL 2019: www.banskobystrickalatka.sk
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Summary:
This year marked another year of support for the Banská Bystrica High Jump Meeting, a prominent international athletic event. This edition marked the 25th anniversary of the meeting. The article prompts readers to visit the official website (www.banskobystrickalatka.sk) to view the results of the BBL 2019. It also includes a feature for readers to rate the usefulness of the article, but currently, no ratings have been submitted. The article encourages the reader to be the first person to rate the post.
올해도 세계적인 높이뛰기 대회인 '반스카 비스트리차 높이뛰기 대회'를 후원했습니다. 특히 올해는 25주년을 맞이한 기념적인 대회였습니다.
BBL 2019 결과 확인: www.banskobystrickalatka.sk
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요약:
올해도 세계적인 육상 경기인 '반스카 비스트리차 높이뛰기 대회'를 후원했으며, 특히 이번 대회는 25주년을 맞았습니다. BBL 2019의 경기 결과는 공식 웹사이트(www.banskobystrickalatka.sk)에서 확인할 수 있습니다. 또한, 이 글의 유용성을 평가하는 기능이 있으나 아직 참여한 사람이 없습니다. 가장 먼저 글을 평가해달라고 독자에게 권유하고 있습니다.
New Guideline of the Ministry of Finance of the Slovak Republic on Determining the Content of Transfer Pricing Documentation
24.01.2019
In 2018, the Ministry of Finance of the Slovak Republic (MFSR) published a new guideline (MF/019153/2018-724) on determining the content of transfer pricing documentation.
The documentation is catego
In 2018, the Ministry of Finance of the Slovak Republic (MFSR) published a new guideline (MF/019153/2018-724) on determining the content of transfer pricing documentation.
The documentation is categorized into full, basic, and abbreviated, depending on its scope. Unlike previous guidelines, the extent of documentation now depends on the type of controlled transaction (significant/insignificant, cross-border/domestic) rather than the type of taxpayer. This means different controlled transactions of the same taxpayer may require different levels of documentation.
The guideline also addresses documentation requirements for permanent establishments. There are no significant changes regarding specific transfer pricing rules for the public sector.
The guideline doesn't set a minimum value for defining a significant controlled transaction, referencing the definition of materiality in accounting law and IFRS standards. The previous minimum value of EUR 1,000,000, above which transactions had to be described in the documentation, has been removed.
A standardized form for abbreviated documentation is included in the guideline's appendix. Full or basic documentation is prepared separately for each controlled transaction or jointly for a group of transactions, with reasons for grouping provided. Documentation is kept for the relevant tax period.
This guideline applies to documentation submitted for tax periods beginning after December 31, 2017. Taxpayers can follow the 2016 guideline until June 30, 2019. Controlled transaction types determine the required documentation type, with categories like significant cross-border transactions requiring full documentation, while others necessitate basic or abbreviated versions.
The new guideline significantly changes documentation requirements, particularly affecting small and medium-sized enterprises. While it sets the minimum documentation scope, tax authorities can request additional information. Taxpayers should still verify prices align with the arm's length principle to limit tax risks during audits, even if transfer pricing documentation isn't mandatory in some cases.
This is a call for applications for non-refundable financial contributions to support smart innovations in industry under the Operational Program Research and Innovation, specifically investment prior
This is a call for applications for non-refundable financial contributions to support smart innovations in industry under the Operational Program Research and Innovation, specifically investment priority 1.2, aiming to boost research, development, and innovation capacities in industry and services. The allocated budget is €35 million, and projects can run for a maximum of 18 months.
The main project activity focuses on supporting smart innovations through the purchase of long-term assets to innovate products and/or processes using a combination of smart solutions categorized into three groups: Synergistic and advanced solutions (advanced telematics, collaborative robotics, cyber-physical systems, digital twin, etc.), Advanced solutions (industrial camera systems, cybersecurity, digitalization, 3D scanning, automation, augmented reality, etc.), and Solutions with smart support (basic automation, new sensors, big data, data centers, cloud for Smart Industry, ERP systems with Smart modules, etc.). The innovation potential is evaluated based on the combination of these smart solutions, where projects combining elements from category 1 receive higher scores.
Eligible applicants include both individuals and legal entities registered in the Commercial Register or holding a trade license in Slovakia for at least 36 months. They must not be in debt to the state, undergoing bankruptcy or restructuring, or facing enforcement proceedings. The project's location must be in specific regions of Slovakia. Eligible expenses include software, intangible rights, movable assets, and other long-term assets.
This is a call for applications for non-refundable financial contributions aimed at reducing energy consumption and increasing the use of renewable energy sources (RES) in businesses, under the Operat
This is a call for applications for non-refundable financial contributions aimed at reducing energy consumption and increasing the use of renewable energy sources (RES) in businesses, under the Operational Programme Quality of Environment (OPKŽP). The investment priority focuses on supporting energy efficiency and RES in enterprises, with a specific goal of lowering energy intensity and boosting RES usage. The total allocation is €50 million.
Micro, small, and medium-sized enterprises (SMEs) can receive up to 50% funding from the European Regional Development Fund (ERDF), while large enterprises can receive up to 45%, requiring the applicant to cover the remaining costs. Project implementation length is 18 months.
Eligible activities include implementing measures from energy audits, such as building renovations for energy efficiency in industrial and service sectors, upgrading heating/cooling and lighting systems, and modernizing existing energy equipment to reduce greenhouse gas emissions. Other eligible activities encompass implementing measurement and control systems, including energy and environmental management systems, reconstructing energy distribution networks, modernizing external lighting (only in conjunction with other measures), and other actions that lower primary energy source consumption.
Applicants must be businesses operating in industrial and related service sectors for at least 36 months, possess a relevant energy audit, and meet several eligibility criteria, including not being in debt to the state, not being in bankruptcy, and having clear property rights. The project must be implemented in specified regions of Slovakia and comply with environmental regulations. Eligible expenses include long-term tangible and intangible assets and certain services, with percentage limits for specific activities.
Call for applications for a non-refundable financial contribution to support jobs under the OP ĽZ DOP 2018/3.1.1/01 program.
Investment Priority: Access to employment for job seekers and inactive ind
Call for applications for a non-refundable financial contribution to support jobs under the OP ĽZ DOP 2018/3.1.1/01 program.
Investment Priority: Access to employment for job seekers and inactive individuals, including the long-term unemployed and those distant from the labor market, as well as local employment initiatives and labor mobility support.
Specific Investment Priority Goal: To increase employment, employability, and reduce unemployment, with a particular focus on the long-term unemployed, low-skilled, older individuals, and people with disabilities.
Allocation: 15 million EUR.
Project Duration: Minimum 6 months, maximum 36 months.
Eligible Activities: Identifying and selecting job seekers and disadvantaged job seekers; employing job seekers and disadvantaged job seekers, with the possibility of mentoring and tutoring.
Conditions for Granting the Contribution:
Eligible Applicants (legal form): Employers – business entities. Must not have tax, health, or social insurance arrears; must not be subject to bankruptcy or restructuring proceedings; must not be subject to enforcement proceedings; must not be required to return aid based on a European Commission decision; must be registered in the Register of Public Sector Partners; must not be in a conflict of interest; must not violate the prohibition of illegal employment; must not have been convicted of economic crimes; must not have a legally imposed penalty of receiving subsidies or a ban on participation in public procurement. Must define measurable project indicators.
Eligible Partners (legal form): Non-governmental non-profit organizations. Must meet similar conditions regarding arrears, legal proceedings, registration, conflicts of interest, and criminal convictions as the eligible applicants. Must define measurable project indicators.
Eligible Implementation Location: Trnava, Trenčín, Nitra, Banská Bystrica, Žilina, Košice, and Prešov regions.
Eligible Expenditures: Wage costs; other forms of flat-rate financing - expenses for other employees and project management.
Summary:
This document announces a call for applications for non-refundable financial contributions aimed at supporting job creation. The initiative prioritizes increasing employment and reducing unemployment, particularly among disadvantaged groups. The total allocation is 15 million EUR, with projects lasting between 6 and 36 months. Eligible activities include identifying, selecting, and employing job seekers, along with providing mentoring and tutoring. Eligible applicants are employers and non-governmental organizations meeting specific criteria, including no tax arrears, legal compliance, registration in relevant registries, and absence of criminal convictions. The project must be implemented in specific regions and focus on eligible expenditures like wage costs and project management.
A novel amendment to the VAT Act proposes the abolition of the VAT security institute, which was introduced into the VAT Act in 2012. Decisions on the deposit of VAT security issued before December 31
A novel amendment to the VAT Act proposes the abolition of the VAT security institute, which was introduced into the VAT Act in 2012. Decisions on the deposit of VAT security issued before December 31, 2018, are to be annulled. The tax office will return such monetary security or its part by February 28, 2019, provided it was not used to settle tax arrears by December 31, 2018. From January 1, 2019, applicants for VAT registration in Slovakia will no longer be obliged to provide a financial security deposit to the tax office.
The current definition of turnover uses the terms "income" and "revenue," creating unequal conditions for taxable persons using double-entry bookkeeping versus those using single-entry bookkeeping. Th
The current definition of turnover uses the terms "income" and "revenue," creating unequal conditions for taxable persons using double-entry bookkeeping versus those using single-entry bookkeeping. These terms are replaced by "value of supplied goods and services," meaning turnover will include the value of supplied goods and services as per Section 22, Paragraph 1 of the VAT Act at the time of their supply.
According to the new definition in the VAT Act, even for taxable persons keeping single-entry accounts, payments received before the supply of goods or services will not be included in turnover. These received "advance payments" constitute part of the value of the goods or services and will be included in turnover for the calendar month in which the goods or services were supplied.
In conjunction with the change in definition, Section 50, Paragraph 2 (Calculation of the Coefficient) replaces the terms revenue (income) excluding tax with the terms value excluding tax of supplied goods and services.
Summary:
A new definition of turnover under the VAT Act aims to level the playing field for businesses. Previously, terms like "income" and "revenue" created disparities between double-entry and single-entry bookkeeping. The revised definition centers on the "value of supplied goods and services" at the time of supply. This clarification means advance payments received before goods or services are delivered will not be counted towards turnover until the actual supply occurs. This change also impacts the calculation of the coefficient, where "revenue (income) excluding tax" is now replaced by "value excluding tax of supplied goods and services."
New VAT rules for vouchers have been established due to inconsistencies in determining the time and place of supply, tax liability, and tax base for transactions involving vouchers. A voucher is defin
New VAT rules for vouchers have been established due to inconsistencies in determining the time and place of supply, tax liability, and tax base for transactions involving vouchers. A voucher is defined as a physical or electronic instrument that grants the holder the right to receive goods or services, while obligating the supplier to accept it as consideration for those goods or services.
The proposed amendment distinguishes between single-purpose and multi-purpose vouchers, based on whether the specific goods or services the voucher can be exchanged for are known in advance. This classification aims to correctly determine when tax liability arises – either upon the voucher's issuance or upon the actual supply of goods or services in exchange for it. These changes apply to vouchers issued after December 31, 2018. The rules do not cover discount vouchers, which offer a reduction on a purchase but do not grant the right to receive goods or services in exchange for the voucher itself.
The amendment to the VAT Act introduces a reduced VAT rate for accommodation services. The VAT rate is lowered from the original 20% to 10% and will apply to accommodation services categorized under c
The amendment to the VAT Act introduces a reduced VAT rate for accommodation services. The VAT rate is lowered from the original 20% to 10% and will apply to accommodation services categorized under code 55 in the statistical classification (CPA).
This reduction covers various accommodation types, including hotels and similar establishments (55.1), tourist and other short-term accommodation (55.2), campsites and recreational/holiday parks (55.3), and other accommodation services such as student dormitories, hostels, and worker accommodations (55.9).
The primary objective behind this VAT reduction is to stimulate demand for accommodation services within the Slovak Republic and, consequently, bolster domestic tourism.
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A significant change in the VAT Act concerns the VAT regime for the supply of buildings and the rental of real estate, as well as a redefined definition of initial building approval (kolaudácia).
A significant change in the VAT Act concerns the VAT regime for the supply of buildings and the rental of real estate, as well as a redefined definition of initial building approval (kolaudácia).
Currently, the supply of a building or its part, including the land it stands on, is exempt from VAT if it occurs more than five years after the initial building approval. Under the current law, VAT payers had the option to choose whether to tax the supply, but the amendment removes this discretionary power. The amendment introduces new events that trigger the five-year period during which the supply of a part of a building (apartment, non-residential space) is mandatorily subject to VAT. After this period, VAT payers must exempt the supply of residential buildings from VAT. If a residential property is sold after five years but before the period for adjusting deducted VAT (20 years), the VAT payer must adjust the VAT deducted from the property's acquisition.
The amendment also changes the rules for taxing rental properties, making VAT exemption mandatory for residential property rentals, regardless of the tenant's status. This applies to all lease agreements concluded after December 31, 2018, for properties handed over for use after that date.
Furthermore, the amendment broadens the definition of initial building approval to include not only the approval for the initial use of the building but also approvals for changes in the building's intended use and approvals for using the building after construction work significantly altering its existing use. A dividing criterion is set at 40% of the building's market value before the reconstruction, considering location and time. VAT exemption is possible five years after the kolaudácia related to the change of use or reconstruction.
Summary:
The Slovak VAT Act has been amended to change the VAT rules concerning the supply and rental of real estate. Key changes include making VAT exemption mandatory for residential property rentals and supplies occurring more than five years after initial building approval (kolaudácia). The amendment removes the VAT payer's discretionary power to tax the supply of buildings after this five-year period. It also clarifies the start of this five-year period, including situations involving changes in the building's intended use or significant renovations. The definition of "kolaudácia" is expanded to encompass these changes of use or renovations if they represent at least 40% of the property's pre-renovation market value. If residential property is sold after 5 years but before 20 years(VAT adjustment period), the VAT payer must adjust the VAT deducted from the property's acquisition. These changes aim to provide clearer and more consistent VAT treatment for real estate transactions and rentals in Slovakia. The changes in rental property taxation apply to agreements from 2019 onward.
Domestic transfer of tax liability for certain commodity transactions
特定の国内商品取引における納税義務の移転
境内特定商品交易的纳税义务转移
10.01.2019
An amendment to the VAT Act (Novela Zákona o DPH) adjusts the rules for applying the domestic reverse charge mechanism for transactions involving selected agricultural products, selected metals, and m
An amendment to the VAT Act (Novela Zákona o DPH) adjusts the rules for applying the domestic reverse charge mechanism for transactions involving selected agricultural products, selected metals, and metal products.
The VAT Act amendment effective from January 1, 2018, which abolished the €5,000 limit for applying the reverse charge to the recipient of goods, provided the recipient is a VAT payer, for the supply of agricultural crops, selected metals, and semi-finished metal products, caused several practical problems, particularly with the sale of these commodities through Electronic Registration Cash Registers (ERP).
Therefore, an amendment to the VAT Act as of January 1, 2019, excludes the reverse charge mechanism when issuing documents for which the supplier issues a simplified invoice, including documents from an electronic registration cash register. The application of the reverse charge mechanism for the supply of selected agricultural crops, selected metals, and metal products will apply to the issuance of a regular invoice.
The amendment to the Labour Code introduces a new obligation for employers to provide recreational vouchers and contributions for recreation. Employers with more than 49 employees will be required to
The amendment to the Labour Code introduces a new obligation for employers to provide recreational vouchers and contributions for recreation. Employers with more than 49 employees will be required to provide employees, who have been continuously employed for at least 24 months, with a recreation contribution of 55% of eligible expenses, up to a maximum of €275 per calendar year, upon request. This means if an employee spends €500 or more on recreation annually, the employer will contribute the maximum of €275. If the employee spends less than €500, the employer will contribute 55% of the eligible expenses.
According to the amendment to the Income Tax Act, if the conditions specified in the Labour Code are met, the recreation contribution provided will be considered tax-exempt income for the employee and an acceptable tax-deductible expense for the employer.
A recreational voucher is a specific payment instrument issued by a limited provider, usable in the Slovak Republic by service providers who have a contractual relationship with the limited provider issuing the recreational vouchers.
A new law, effective January 1, 2019, introduces an 8% insurance tax. This tax applies to non-life insurance policies where the insured risk is located within the Slovak Republic. Unlike the initial p
A new law, effective January 1, 2019, introduces an 8% insurance tax. This tax applies to non-life insurance policies where the insured risk is located within the Slovak Republic. Unlike the initial proposal, the new insurance tax will not affect life insurance sectors.
The insurance tax is an indirect tax paid by insurance companies, which will collect it from policyholders as part of the premium. The taxable period is a calendar quarter, and the tax return is due by the end of the month following the end of the taxable period. Insurance companies will settle the insurance tax through an Insurance Tax Return. The first Insurance Tax Return will be filed for the first calendar quarter of 2019.
The Insurance Tax Act will abolish the insurance premium levy, with the exception of levies on premiums received from mandatory motor vehicle liability insurance.
New forms for income tax for natural and legal persons
개인 및 법인 소득세 신규 서식
10.01.2019
The Ministry of Finance of the Slovak Republic has issued a measure that amends the templates for Income Tax Returns for natural and legal persons for the tax period 2018.
The Ministry of Finance of the Slovak Republic has issued a measure that amends the templates for Income Tax Returns for natural and legal persons for the tax period 2018.
The current templates of the tax returns will be used for filing tax returns by taxpayers whose deadline for filing the tax return expired no later than December 31, 2018.
The Ministry of Finance of the Slovak Republic has updated the templates for Income Tax Returns for both individuals and companies for the 2018 tax period. These updated forms are now available. It's important to note that the previously used templates are still valid for tax returns where the filing deadline had already passed by December 31, 2018. Taxpayers can access the new, revised templates through the provided link on the Ministry of Finance's official website. This measure ensures that taxpayers are using the correct and most current forms for their tax obligations.
The Slovak Republic has ratified the OECD Multilateral Convention, which facilitates the efficient and swift implementation of selected BEPS (Base Erosion and Profit Shifting) measures into individual
The Slovak Republic has ratified the OECD Multilateral Convention, which facilitates the efficient and swift implementation of selected BEPS (Base Erosion and Profit Shifting) measures into individual double taxation treaties. The Multilateral Convention aims to modify all double taxation treaties concluded by the Slovak Republic and will come into effect on January 1, 2019. The contracting states to which the Multilateral Convention will apply from January 1, 2019, include Australia, Austria, France, Israel, Japan, Lithuania, Poland, Serbia, Slovenia, Sweden, and the UK.
The text of the Multilateral Convention in both Slovak and English can be found at the provided link: https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2018/339/
This article explains the Slovak Republic's ratification of the OECD Multilateral Convention, a key instrument for implementing BEPS measures into existing double taxation agreements. The convention, effective January 1, 2019, streamlines the application of these measures across multiple treaties. It lists the initial signatory countries that will be affected by its implementation, including major economies like Australia, France, Japan, the UK, and several European nations. The primary goal is to combat tax base erosion and profit shifting, ensuring that profits are taxed where economic activities generating them are performed. The article also provides a link to access the full text of the convention in both Slovak and English.
The minimum wage will increase from the current 480 Euros to 520 Euros as of January 1, 2019. However, the established minimum wage of 520 Euros is a gross monthly minimum wage. After deducting 19% in
The minimum wage will increase from the current 480 Euros to 520 Euros as of January 1, 2019. However, the established minimum wage of 520 Euros is a gross monthly minimum wage. After deducting 19% income tax and contributions to health and social insurance, the net minimum wage will be approximately 430 Euros.
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The minimum wage in Slovakia is set to increase from €480 to €520 gross per month starting January 1, 2019. This new gross amount, however, will be significantly reduced after mandatory deductions. Income tax at 19% along with contributions to health and social insurance will lower the take-home pay. Consequently, the net minimum wage, or the amount an employee will actually receive, is estimated to be around €430 per month. This update aims to adjust the lowest legally permissible earnings in the country. The article also includes a feedback section for user ratings on its helpfulness, which currently has no votes.
A new amendment to the Income Tax Act, approved by the National Council of the Slovak Republic, will double the tax bonus for children under 6 years old starting in April 2019.
The tax bonus is a tax
A new amendment to the Income Tax Act, approved by the National Council of the Slovak Republic, will double the tax bonus for children under 6 years old starting in April 2019.
The tax bonus is a tax advantage provided to a taxpayer supporting a child living in a common household with the taxpayer, in the form of a reduction in income tax or advance tax payments that the taxpayer would otherwise have to pay. The tax is reduced by the amount of the tax bonus.
Currently, the tax bonus is €21.56 per month for each supported child living with the taxpayer in the household. From January 1, 2019, the amount of the tax bonus per supported child will increase to €22.17 per month. Starting in April 2019, parents of preschoolers, i.e., children under 6 years old, will see their tax bonus increase to €44.34 per month.
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**Summary:**
Slovakia is increasing its tax bonus for children. Effective April 2019, the tax bonus for children under six years old will be doubled. The tax bonus is a mechanism to reduce a taxpayer's income tax liability for supporting a child who lives with them. Currently, the monthly tax bonus is €21.56 per child. This amount will be raised to €22.17 per month on January 1, 2019. Subsequently, from April 2019, parents with children under six will receive an increased monthly tax bonus of €44.34.
Companies often face the decision of passing their business to the next generation or selling to investors, raising the question of finding suitable investors. To address this, ČSOB is launching Match
Companies often face the decision of passing their business to the next generation or selling to investors, raising the question of finding suitable investors. To address this, ČSOB is launching Match'it, a web platform connecting businesses for sale with companies and private investors interested in acquisitions.
Match'it works by initially showing investors anonymized company profiles, including revenue range, business area, and region. Sellers then evaluate potential buyers. Upon approval, the investor gains access to detailed company information and a brief information memorandum.
Karol Farkaš, Director of the Corporate Clients Division at ČSOB, highlights the platform's role in expanding ČSOB's services, making access to investors possible for firms of all sizes. Match'it serves as an intermediary within a secure environment for verified individuals and companies. The platform particularly benefits medium and smaller companies lacking access to relevant investors.
Martin Kiňo, partner at BDR auditing and consulting company, emphasizes the platform's role in mitigating risk, particularly for SMEs, by ensuring comprehensive information and addressing uncertainties. BDR offers expertise in evaluating the economic situation of target companies and the implications of transactions, as well as providing valuation services. Match'it also offers an international dimension through connections with Belgium and other countries where KBC, ČSOB's parent group, operates.
On September 24, 2018, the French government presented the draft Finance Law for 2019, to be debated in Parliament and potentially amended before final approval by the end of 2018.
On September 24, 2018, the French government presented the draft Finance Law for 2019, to be debated in Parliament and potentially amended before final approval by the end of 2018.
Article 13 incorporates the Anti-Tax Avoidance Directive (ATAD) rules, focusing on limiting interest deductibility. Key changes include capping deductible "excess borrowing costs" at the higher of €3 million or 30% of adjusted taxable income (EBITDA). A safe-harbor provision allows for the deduction of 75% of excess borrowing costs exceeding the limit if the company's equity ratio equals or exceeds its consolidated group's. A new thin capitalization rule limits deductibility to the higher of 10% of EBITDA or €1 million if related-party debt exceeds 1.5 times equity.
Taxpayers can carry forward disallowed excess borrowing costs indefinitely and unused interest capacity for up to five years. These rules also apply to French tax groups under certain conditions, affecting periods starting January 1, 2019, including interest on pre-existing loans.
Article 48 introduces a general anti-abuse rule for corporate income tax, disallowing arrangements with the main purpose of obtaining a tax advantage contrary to the law's intent. This implements the ATAD's general anti-abuse rule, enabling tax authorities to challenge arrangements aimed primarily at tax benefits without needing to prove exclusive tax avoidance intent. This clause is also effective for periods beginning January 1, 2019.
New Directive from the European Union - ATAD (Anti-Tax Avoidance Directive)
29.11.2018
The European Union's ATAD (Anti Tax Avoidance Directive) ensures taxes are paid where profits and value are generated. It mandates measures for Slovakia to implement to prevent aggressive tax planning
The European Union's ATAD (Anti Tax Avoidance Directive) ensures taxes are paid where profits and value are generated. It mandates measures for Slovakia to implement to prevent aggressive tax planning and facilitate information exchange among financial intelligence units to identify suspicious transactions.
Slovak income tax law already has anti-fraud measures but introduces further rules to strengthen protection against aggressive tax planning and base erosion and profit shifting. Implementing ATAD rules amends both the income tax law and the tax administration law.
The tax administration law change stems from introducing a new exemption for the commercial use of intangible assets, requiring the Financial Directorate of the Slovak Republic to publish a list of taxpayers claiming this exemption.
Since January 1, 2018, Slovak income tax law has included a special tax regime for the commercial use of intangible assets, exempting income from granted and registered patents, utility models, and software. This "patent box" encourages research and development by offering more favorable taxation for its commercial results, motivating registration with the Industrial Property Office and potentially increasing employment.
To enhance tax transparency, a tax administration law amendment from January 1, 2019, expands the publication of taxpayer lists to include those related to levy obligations, specifically publishing details of financial institutions paying special levies and regulated entities. This expanded publication aims to combat tax evasion, with all lists available on the Financial Directorate's website.
Austrian Implementation of the Anti-Tax Avoidance Directive
29.11.2018
The European Anti-Tax Avoidance Directive (ATAD), published in 2016, builds upon the OECD's BEPS action plan. Member states were generally required to implement ATAD by January 1, 2019, followed by th
The European Anti-Tax Avoidance Directive (ATAD), published in 2016, builds upon the OECD's BEPS action plan. Member states were generally required to implement ATAD by January 1, 2019, followed by the ATAD II amendment in 2017, with most of its measures effective from January 1, 2020.
Austria already had legislation addressing some ATAD measures, requiring adaptation rather than complete overhaul. Regarding deductibility of borrowing costs, Austria retained its 2014 rule, allowing interest deductions to related parties only if the corresponding interest income is taxed at a minimum corporate tax rate of 10%, extending also to intra-group license fees. It remains to be seen if Austria will adjust this to align with ATAD Article 4.
Austria's exit tax provisions for asset transfers were largely unchanged, with minor adjustments to criteria and a reduction in the installment payment period for taxes on long-term assets to five years, complying with ATAD Article 5.
Austria's existing anti-abuse provisions were similar to ATAD Article 6, leading to adjustments to the wording to match ATAD’s criteria. The practical impact of these changes remains to be seen.
Prior to ATAD Article 7, Austria lacked controlled foreign company (CFC) rules. Consequently, a CFC rule was introduced into Austrian corporate tax law, applicable to profits realized after January 1, 2019, exempting companies with passive income not exceeding one-third of their taxable income and setting a de minimis threshold for low-profit companies. The rule applies if passive income is taxed below 12.5%, potentially impacting companies in some EU member states.
Regarding hybrid mismatches, Austria already restricts deductibility of borrowing costs if the recipient's income is not taxed at a minimum of 10% and disallows tax exemptions on dividends if the dividend payment is a deductible expense for the subsidiary. These provisions have not yet been amended based on ATAD Article 9.
Abuse of (Tax) Law - A Phenomenon of Modern Society?
29.11.2018
In recent years, tax law has faced strong legislative pressure, mainly from the EU and OECD, aiming to combat aggressive tax practices. One recent measure transposes Article 6 of EU Directive 2016/116
In recent years, tax law has faced strong legislative pressure, mainly from the EU and OECD, aiming to combat aggressive tax practices. One recent measure transposes Article 6 of EU Directive 2016/1164 (ATAD), establishing the principle of prohibiting abuse of law in the Czech legal system. Member states have a short time to implement these rules by December 31, 2018.
Abuse of law involves subjective (taxpayer motivation) and objective (purpose of the law) criteria. The tax administrator assesses whether abuse occurred and bears the burden of proof. The principle should be used as a last resort, not replacing standard tools like price corrections. The Czech Republic's administrative courts have addressed such cases since 2005, with rulings aligning with ATAD's key aspects.
It's crucial to distinguish abuse of law from dissimulation (where the real intention is hidden). Abuse of law involves intentionally chosen actions without concealment.
The proposed law, currently in the Chamber of Deputies, incorporates the prohibition into the Tax Code, applying to all tax types to ensure consistency. The proposed wording focuses on actions with the "prevailing purpose" of gaining a tax advantage contrary to the law's intent. The tax administrator must prove the abuse.
The law doesn't target situations where taxpayers choose a tax-efficient path allowed by law. Concerns exist that this principle could be overused by tax administrators, creating uncertainty, and impacting court decisions. The article raises the question of whether businesses should be forced to act only rationally and whether tax authorities should judge the rationality of business decisions.
Identification Data of the Ultimate Beneficial Owner in a Legal Entity
15.11.2018
We would like to inform you that due to the amendment of Act No. 530/2003 on the Commercial Register, effective from November 1, 2018, the Commercial Register now includes (i) identification data of t
We would like to inform you that due to the amendment of Act No. 530/2003 on the Commercial Register, effective from November 1, 2018, the Commercial Register now includes (i) identification data of the ultimate beneficial owner of a legal entity that is not a public administration entity or an issuer of securities admitted to trading on a regulated market subject to information disclosure requirements under a special regulation, equivalent legal regulation of an EU member state, or equivalent international standards, and (ii) data establishing the status of the ultimate beneficial owner according to a special regulation.
The identification data of the ultimate beneficial owner recorded in the Commercial Register includes: name, surname, birth number or date of birth if a birth number has not been assigned, permanent or other residence address, nationality, and type and number of identity document, which data should not be published.
Registration of the ultimate beneficial owner in the Commercial Register is required regardless of whether the company has the status of a public sector partner, and this registration in the Commercial Register does not replace the obligation to register the ultimate beneficial owner of a public sector partner in the Register of Public Sector Partners (if required).
Legal entities registered in the Commercial Register by October 31, 2018, are required to submit a proposal for the registration of data on the ultimate beneficial owner to the Commercial Register by December 31, 2019.
As an advisory company dealing with this issue, if you need to register the ultimate beneficial owner in the Commercial Register, please do not hesitate to contact us for more information. We are available to answer any questions.
Summary:
Effective November 1, 2018, Slovak law mandates the registration of ultimate beneficial owners (UBOs) in the Commercial Register for most legal entities. This includes identifying information like name, address, nationality, and ID document details, though this data is not meant for public disclosure. This registration is separate from any obligation to register as a public sector partner. Companies registered before October 31, 2018, must register their UBOs by December 31, 2019. Consulting companies offer assistance with this process. This legal change aims to enhance transparency and combat financial crimes.
We supported the Osmidiv charity event for people with intellectual disabilities again.
05.10.2018
We are pleased that, thanks in part to us, handicapped children were able to learn new skills at workshops such as Latin American Zumba dances, face painting, plaster cast decoration, encaustic painti
We are pleased that, thanks in part to us, handicapped children were able to learn new skills at workshops such as Latin American Zumba dances, face painting, plaster cast decoration, encaustic painting (painting with hot wax on paper), canework, crossbow and archery shooting, coin minting, metal jewelry making, and leather accessory making.
The article expresses satisfaction with enabling handicapped children to participate in various workshops where they learned new skills. These activities ranged from artistic endeavors like Latin American Zumba, face painting, and encaustic painting, to crafts such as plaster cast decoration, canework, metal jewelry making, and leather accessory making. The workshops also included recreational activities like crossbow and archery shooting, and coin minting. The text highlights the positive impact of providing these opportunities for handicapped children to develop new skills and experience a diverse range of activities.
On June 20, 2018, the National Council of the Slovak Republic approved the Insurance Tax Act, effective January 1, 2019. The new insurance tax will have a uniform eight percent rate, affecting all non
On June 20, 2018, the National Council of the Slovak Republic approved the Insurance Tax Act, effective January 1, 2019. The new insurance tax will have a uniform eight percent rate, affecting all non-life insurance products, with the exception of mandatory contractual insurance, where the eight percent levy will remain unchanged. A change concerning informational obligations was also agreed upon. Under current legislation, clients must notify an insurance company of their intent to terminate a contract at least six weeks before the end of the insurance period. However, according to members of the finance committee, insurance companies will be required to inform clients ten weeks before the end of the insurance period about the approaching insurance expiry and the rate for the following year.
This article provides information on a new insurance tax law in Slovakia. The Act, effective from January 1, 2019, introduces an eight percent tax on non-life insurance products. Notably, mandatory contractual insurance remains subject to an eight percent levy. The legislation also mandates enhanced informational duties for insurance companies. Previously, policyholders had to give six weeks' notice for contract termination. The new regulations require insurers to inform clients ten weeks in advance about the upcoming insurance period end and the applicable rate for the subsequent year. This change aims to give policyholders more time to consider their options and make informed decisions regarding their insurance coverage.
The Financial Administration has prepared a project for online connection of all cash registers to the Financial Administration's eKasa portal. In practice, this means the Financial Administration wil
The Financial Administration has prepared a project for online connection of all cash registers to the Financial Administration's eKasa portal. In practice, this means the Financial Administration will have immediate information on every transaction, as each issued receipt will be registered in the central eKasa storage. Previously, entrepreneurs had the option to voluntarily connect to the Financial Administration's systems; going forward, connection to the Financial Administration will be mandatory. Electronic registration cash registers (ERP) will become online registration cash registers (ORP). However, entrepreneurs will have more options: a cash register can be not only a classic ERP but also a tablet, mobile phone, computer, or a Virtual Registration Cash Register (VRP).
The project is expected to bring entrepreneurs reduced administrative burdens and lower costs, while buyers will benefit from increased protection against unreliable entities and, for example, electronic receipts.
The proposal, subject to approval by the National Council of the Slovak Republic, anticipates a phased implementation. The first phase, in April 2019, will connect the HORECA segment (hotels, restaurants, cafes, and gas stations). The second phase, in July 2019, will connect retail, services, and other sectors.
The Financial Administration is implementing a mandatory online connection for all cash registers to the eKasa portal. This change transforms electronic registration cash registers (ERP) into online registration cash registers (ORP), providing the Financial Administration with real-time transaction data. Entrepreneurs will have flexibility in choosing their cash register solution, including classic ERPs, tablets, mobile phones, computers, or Virtual Registration Cash Registers (VRP). This initiative aims to reduce administrative work and costs for businesses while enhancing consumer protection and offering electronic receipts. The rollout is planned in two phases: the HORECA sector in April 2019 and retail, services, and others in July 2019. The project requires parliamentary approval for implementation.
Mandatory electronic communication after 1.7.2018 for natural persons
05.09.2018
From July 1, 2018, mandatory electronic communication with the financial administration is extended to all natural persons who are entrepreneurs. The obligation to communicate electronically from July
From July 1, 2018, mandatory electronic communication with the financial administration is extended to all natural persons who are entrepreneurs. The obligation to communicate electronically from July 1, 2018, will apply only to natural persons who are entrepreneurs, registered for income tax according to § 49a of Act no. 595/2003 Coll. on Income Tax. These are taxable entities that have income according to § 6 para. 1 and 2 of Act no. 595/2003 Coll. on Income Tax.
**Summary:**
Starting July 1, 2018, a significant change mandates electronic communication with the financial administration for all natural persons operating as entrepreneurs. This new requirement specifically targets individuals registered for income tax under Section 49a of the Slovak Income Tax Act. The obligation is for those individuals who derive income as defined by Section 6, paragraphs 1 and 2, of the same act. This initiative aims to streamline and digitize interactions between the tax authority and the entrepreneurial segment of the population, ensuring a more efficient and paperless system for tax-related matters. The update signifies a broader adoption of digital channels for official communication within the financial administration.
On July 3, 2018, the OECD issued a draft amendment to the OECD Guidelines concerning financial transactions. These provisions are intended to shed more light on the valuation methods for, for example,
On July 3, 2018, the OECD issued a draft amendment to the OECD Guidelines concerning financial transactions. These provisions are intended to shed more light on the valuation methods for, for example, intragroup loans, guarantees, and cash pooling. Special attention is paid to the actual substance of the transaction and the issue of hidden or inadequate capitalization. The draft amendment to the OECD Guidelines is not yet final.
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On July 3, 2018, the OECD released a draft amendment to its Guidelines on financial transactions. The proposed changes aim to clarify the valuation of various financial arrangements within multinational groups, including intragroup loans, guarantees, and cash pooling. A significant focus is placed on the true economic substance of these transactions and addressing the issue of thin capitalization or hidden capital. The draft amendment is still under consideration and has not been finalized. This development is crucial for companies engaging in cross-border financial activities, as it seeks to provide clearer guidance on transfer pricing for financial instruments. The aim is to ensure that such transactions are priced appropriately, reflecting arm's length principles and preventing tax base erosion. The OECD's ongoing efforts in this area underscore the importance of accurate financial transaction valuation in international tax matters.
Amendment to the Act on Prevention of Money Laundering and Terrorist Financing
05.09.2018
Currently, companies not registered in the Register of Public Sector Partners (RPVS) are obliged to identify their ultimate beneficial owner (UBO).
Following the amendment to Act No. 297/2008 Coll. o
Currently, companies not registered in the Register of Public Sector Partners (RPVS) are obliged to identify their ultimate beneficial owner (UBO).
Following the amendment to Act No. 297/2008 Coll. on the Prevention of Money Laundering and the Prevention of Terrorist Financing, and on Amendments to Certain Acts (hereinafter referred to as the "AML Act") on March 15, 2018, this obligation was extended to advisors when they enter into a business relationship. According to Section 10 of the AML Act, an advisor is, among other things, obliged to identify their client's ultimate beneficial owner as part of their due diligence.
Another new obligation is to (I) identify one's own ultimate beneficial owner (Section 10a of the AML Act) and (II) review the program of their own activities as a reporting entity, in accordance with the new requirements of the AML Act (Section 20 of the AML Act).
As of November 1, 2018, there is also an obligation to register the ultimate beneficial owner in the Commercial Register of the Slovak Republic (Section 2(3) of the Commercial Register Act). Legal entities registered in the Commercial Register by October 31, 2018, are obliged to submit a proposal for the registration of information about the ultimate beneficial owner (Section 15e of the Commercial Register Act) by December 31, 2019.
This article details new legal obligations in Slovakia concerning the identification and registration of ultimate beneficial owners (UBOs). Companies not already in the Register of Public Sector Partners must identify their UBO. This duty now also extends to advisors when forming business relationships. Furthermore, reporting entities must identify their own UBOs and review their operational programs to comply with the amended Anti-Money Laundering (AML) Act. A significant change is the mandatory registration of UBOs in the Slovak Commercial Register starting November 1, 2018. Entities already registered by October 31, 2018, have a grace period until December 31, 2019, to submit the required UBO details. These changes aim to enhance transparency and prevent illicit financial activities.
Interdepartmental Commenting – Draft Directive Establishing Rules on Taxation of Income of Legal Entities with Significant Digital Presence
05.09.2018
The Ministry of Finance of the Slovak Republic has submitted a proposal for a regular preliminary opinion on a Council directive proposal. This directive sets rules concerning the taxation of corporat
The Ministry of Finance of the Slovak Republic has submitted a proposal for a regular preliminary opinion on a Council directive proposal. This directive sets rules concerning the taxation of corporate income for entities with a significant digital presence.
The proposal aims to ensure fair and effective taxation of income generated by the digital economy. Due to digital companies operating across borders without a physical presence, existing tax rules created a mismatch between where taxation occurs and where value is actually created. Therefore, an EU-level solution is necessary to ensure fair taxation of income from modern digitized business models.
The directive intends to reform corporate income tax rules by expanding the definition of a permanent establishment to include a significant digital presence for corporate income tax purposes. It also establishes principles for attributing profits for tax purposes. The rules within the directive are to be integrated into member states' national systems and the CCCTB directive proposal. Concurrently, the Commission has issued a recommendation for member states to adapt their double taxation treaties to the proposed directive, ultimately expecting these adjustments to influence the OECD Model Tax Convention.
French Property Tax – Now Limited to Real Estate, but Increased!
21.05.2018
The French wealth tax, previously levied on individuals with assets over €1.3 million, which had prompted wealthy individuals to leave France, was limited to private real estate ownership from January
The French wealth tax, previously levied on individuals with assets over €1.3 million, which had prompted wealthy individuals to leave France, was limited to private real estate ownership from January 1, 2018, and even increased.
The new Real Estate Wealth Tax ("impôt sur la fortune immobilière" or IFI) largely adopts provisions from the old wealth tax (ISF), including the €1.3 million taxable threshold, a progressive tax rate up to 1.5%, and general valuation criteria. It now taxes both directly and indirectly held real estate more stringently, unless used for economic activity within companies. Private properties owned by companies, in which an IFI taxpayer has an interest, are considered only down to a certain participation level, with the tax base derived from company shares corresponding to directly or indirectly held real estate. Determining these values can be challenging.
This means that private individuals’ total non-operational real estate holdings are subject to IFI taxation. Other assets, such as liquid assets, movable property, securities, and business stakes, are excluded. Non-residents, who were previously taxed only on French real estate or interests in real estate companies under the old wealth tax, now face an expanded tax base under the new IFI. Loan and liability deduction rules have been significantly modified; for instance, loans from family members and related parties are generally no longer deductible, except under strict exceptions. A prohibition on deducting loans from shareholders remains. Deductions are limited if taxable assets exceed €5 million and loans constitute over 60% of these assets. The practical application of these new regulations will be closely monitored, with assistance available.
Technical Improvement and Repairs Performed by the Tenant and Non-Monetary Income of the Landlord from the Perspective of Slovak Legislation
21.05.2018
For income tax purposes, the technical enhancement of tangible and intangible assets refers to expenditures on completed additions, extensions, structural modifications, reconstructions, and moderniza
For income tax purposes, the technical enhancement of tangible and intangible assets refers to expenditures on completed additions, extensions, structural modifications, reconstructions, and modernizations exceeding €1,700 for individual tangible and intangible assets in aggregate during the tax period.
Since January 1, 2015, Slovak legislation has clarified the definition of a "rental relationship" for the purpose of adjusting the lessor's tax base for non-cash income resulting from technical enhancements and repairs on leased property performed by the lessee.
For income tax law purposes, a "rental relationship" is considered to include: * A rental relationship concluded according to the Civil Code. * A rental relationship based on an unnamed contract under the Civil Code. * A usage relationship based on a usufruct concluded under the Civil Code. * A rental relationship according to the Act on Lease and Sublease of Non-Residential Premises as amended (sublease relationship).
The expanded concept of "rental relationship" applies to technical enhancements and repairs carried out beyond those agreed upon in the "lease agreement" by a taxpayer with a calendar year tax period, except for cases accounted for from January 1, 2015.
When filing tax returns after December 31, 2015, effective from January 1, 2016, a lessee, upon de-recognition of a technical enhancement through sale, will claim the tax residual value of the building in full as a tax expense, regardless of the depreciation group in which the lessor depreciates the leased property.
Real Estate Investment from a Czech Tax Perspective
21.05.2018
Real estate investments offer stable income, with distinct tax implications for legal entities and individuals in the Czech Republic. International tax treaties generally stipulate that profits from r
Real estate investments offer stable income, with distinct tax implications for legal entities and individuals in the Czech Republic. International tax treaties generally stipulate that profits from real estate are taxed where the property is located, though specific agreements, like with Germany, may exempt certain transactions in the country of residence.
Legal entities face a 19% corporate income tax on profits after deductible expenses, with property value depreciated over 30 or 50 years. Strategic structuring can significantly reduce the tax burden across income tax, VAT, and real estate acquisition tax. Selling shares in companies is VAT-exempt, and income is tax-exempt after 12 months of holding. Mergers and spin-offs are generally tax-neutral. A notable cost is the 4% real estate acquisition tax on the purchase price, payable by the buyer, though it can be eliminated in certain corporate restructurings.
For individuals, rental income is taxed at 15% after expenses, without social or health contributions. Proper structuring can eliminate income tax and VAT on property sales after five years of ownership, and share sales are also tax-exempt after five years, allowing for tax-neutral transfers into holding structures. Property sales or contributions to companies incur the 4% real estate acquisition tax.
VAT on real estate sales is generally exempt after five years from completion or significant alteration, unless parties agree otherwise. Rent is typically VAT-exempt, though landlords can opt to charge VAT. Input VAT can be reclaimed if output VAT is charged. A 10-year period tracks property usage, affecting previously claimed input VAT deductions.
Overall, well-structured investments can lead to tax-exempt share sales for legal entities after one year, avoiding VAT and acquisition tax. For individuals, property or share sales can be tax-exempt after five years. International tax implications and technical enhancements require thorough assessment. Transferring property between individuals and legal entities always incurs the 4% real estate acquisition tax.
Real Estate Investments in Austria and Their Tax Implications
21.05.2018
When investing directly in real estate in Austria, several tax regulations must be considered.
**Real Estate Acquisition Tax and Land Registry Fee:** Upon acquiring property, a 3.5% real estate acqui
When investing directly in real estate in Austria, several tax regulations must be considered.
**Real Estate Acquisition Tax and Land Registry Fee:** Upon acquiring property, a 3.5% real estate acquisition tax and a 1.1% land registry fee are payable, based on the purchase price.
**Income Tax:** Rental income from properties is subject to income tax. Taxable income is calculated by deducting proven expenses from rental revenue. This net income is declared in the annual tax return and taxed at Austria's progressive income tax rates. Allowable expenses include depreciation, financing costs, and repair and maintenance costs. A depreciation deduction is applied to the building's portion of the purchase price, spread over its lifespan. Typically, the purchase price is allocated 40% to land and 60% to the building for rental purposes, though exceptions exist. The lifespan for depreciation of income-generating buildings is 66.6 years (1.5% of the tax base).
**Property Tax:** Property ownership is generally subject to property tax, calculated on the indicative value of the land, which reflects average 1973 land prices plus a 35% surcharge. Municipalities levy and collect this tax.
**Value Added Tax (VAT):** Property ownership is usually subject to VAT. Residential rentals incur a 10% VAT, while other rentals generally face a 20% VAT. Landlords can reclaim or offset VAT charged on rental income.
**Real Estate Sales Income Tax:** Since April 1, 2012, profits from private property sales are taxed at a 30% rate on the difference between the purchase and sale prices.
Real estate investments are booming, attracting both institutional and private investors, driven by low interest rates and Germany's strong economy. Office buildings and residential properties in majo
Real estate investments are booming, attracting both institutional and private investors, driven by low interest rates and Germany's strong economy. Office buildings and residential properties in major cities are particularly popular. While German investors dominate the residential market, foreign investors account for roughly half of buyers in the commercial and non-residential sectors. However, investing in German real estate requires careful tax planning to avoid unnecessary burdens during purchase, ownership, and sale.
Income from German real estate, such as rent, is generally subject to German income tax. For individuals, taxable income is calculated by deducting expenses from rental income, taxed at progressive rates. For corporate investments, rental income is taxed at a flat 15% corporate income tax, plus a municipal trade tax (Gewerbesteuer) ranging from 7% to 17% for corporations and partnerships. International investors renting German properties are typically subject to limited tax liability in Germany. Double taxation treaties usually stipulate that rental income is taxed where the property is located, i.e., in Germany. A foreign company owning property directly doesn't automatically create a permanent establishment in Germany, provided it lacks domestic management. This exemption from trade tax hinges on the absence of a permanent establishment. However, engaging a German service provider for property management, especially with significant decision-making power, can create a permanent establishment. A specific rule allows for an expanded trade tax reduction for companies solely managing and using their own land, aligning them with partnerships. However, any ancillary activities, like the subletting of movable assets, can forfeit this reduction. Land transfers are subject to property acquisition tax (Grunderwerbsteuer), ranging from 3.5% to 6.5% depending on the state. Crucially, direct or indirect share transfers in property-owning companies or changes in partners of property-owning partnerships can trigger trade tax. Restructuring property-owning companies necessitates careful attention to these tax implications. Ultimately, real estate investments offer tax optimization potential through adherence to legal frameworks. Consulting a tax advisor for real estate transactions or corporate restructurings involving German properties is essential for identifying the most tax-efficient solutions.
The National Council of the Slovak Republic approved amendments to the Labour Code, effective May 1, 2018, introducing several changes in employment. The most significant is the phased increase in sup
The National Council of the Slovak Republic approved amendments to the Labour Code, effective May 1, 2018, introducing several changes in employment. The most significant is the phased increase in supplementary pay for night, holiday, and weekend work, starting May 1, 2018, and continuing on May 1, 2019. These increases, calculated as percentages of the minimum wage, will boost hourly earnings for many employees. For instance, night work surcharges will rise from 20% to 30% (non-hazardous) or 35% (hazardous) from May 1, 2018, and further to 40% or 50% by May 1, 2019. Holiday pay will double to 100% from May 1, 2018, and weekend pay will increase to 25% (Saturday) and 50% (Sunday) from the same date, with Sunday rates doubling again to 100% by May 1, 2019.
Additionally, the amendment exempts 13th and 14th salaries from social security contributions and taxes, up to €500 per payment, provided certain conditions are met, such as the salary being at least the average monthly wage and the employee having a minimum period of employment. Employers can pay the 13th salary in May and the 14th in November, with specific conditions regarding length of employment and prior payment of the 13th salary.
From May 1, 2018, employers must also disclose proposed salaries in job advertisements, with a commitment to pay at least the advertised amount upon hiring. Furthermore, working pensioners will be exempt from social security contributions on income up to €200 per month from July 1, 2018, applicable to one employment agreement. Changes to the Employment Services Act, also effective May 1, 2018, aim to simplify employment for third-country nationals in certain professions and areas with low unemployment, while also enhancing support for job seekers through increased mobility allowances and a new relocation grant.
Electronic Communication of Legal Entities with the Tax Office from January 1, 2018
04.04.2018
As of January 1, 2018, all legal entities registered in the Commercial Register are mandated to communicate exclusively electronically with the tax office, regardless of their VAT payer status. This i
As of January 1, 2018, all legal entities registered in the Commercial Register are mandated to communicate exclusively electronically with the tax office, regardless of their VAT payer status. This includes submitting tax returns for income tax and motor vehicle tax for the year 2017. Paper submissions of tax returns by legal entities will no longer be accepted. To comply, documents must be signed with a guaranteed electronic signature, submitted via an eID card (chip-enabled ID card), or through a prior electronic communication agreement with the tax office. Crucially, any such agreement must have been concluded by the end of 2017, as new agreements cannot be established from January 1, 2018, onwards. Furthermore, starting July 1, 2018, natural persons will also be required to conduct their communication with the tax office electronically.
The amendment introduces measures targeting speculative company mergers. Section 69 is expanded with new paragraphs 11-15, detailing these provisions.
Paragraph 11 stipulates that on the date of comp
투기성 기업 합병을 막기 위한 법률 개정안이 도입되었습니다. 법률 69조에 11항부터 15항까지의 조항이 추가되었으며, 주요 내용은 다음과 같습니다.
11항: 합병, 신설, 분할 등기일 기준으로 존속하는 회사는 후순위 채무를 제외한 부채가 자산을 초과해서는 안 됩니다. 또한, 합병에 관련된 존속 회사와 소멸 회사 모두 청산, 파산, 회생 절차 또는 법원의
The amendment introduces measures targeting speculative company mergers. Section 69 is expanded with new paragraphs 11-15, detailing these provisions.
Paragraph 11 stipulates that on the date of company merger, consolidation, or division, the successor company's liabilities must not exceed its assets, excluding liabilities related to subordination. Neither the successor nor the dissolving company can be in liquidation. They must also not be subject to bankruptcy proceedings, restructuring proceedings, or court-initiated dissolution.
Paragraph 12 requires that if the conditions in paragraph 11 are not met, company organ members must refrain from actions leading to mergers, consolidations, or divisions. Failure to do so makes them liable to creditors for damages caused by this breach.
Paragraph 13 mandates notification of the relevant tax administrator (tax or customs office) about the draft merger or consolidation agreement at least 60 days before the general meeting. If the dissolving company's shares or stakes are pledged, the pledgee must also be notified within the same timeframe.
Paragraph 14 states that an auditor will prepare a report on findings related to company mergers.
Section 69a is amended with paragraph 5, requiring the submission of a merger/division registration proposal to the Commercial Register within 30 days.
This legislation aims to curb abusive merger practices by ensuring financial stability and transparency during corporate restructuring. It places specific obligations on company management and requires auditor involvement to verify the legitimacy of mergers. The extended timelines for notification and registration are designed to allow for proper scrutiny and prevent rapid, potentially detrimental, corporate transformations. The focus is on protecting creditors and stakeholders from the negative consequences of speculative or ill-conceived mergers.
투기성 기업 합병을 막기 위한 법률 개정안이 도입되었습니다. 법률 69조에 11항부터 15항까지의 조항이 추가되었으며, 주요 내용은 다음과 같습니다.
11항: 합병, 신설, 분할 등기일 기준으로 존속하는 회사는 후순위 채무를 제외한 부채가 자산을 초과해서는 안 됩니다. 또한, 합병에 관련된 존속 회사와 소멸 회사 모두 청산, 파산, 회생 절차 또는 법원의 해산 명령 절차를 진행 중이어서는 안 됩니다.
12항: 만약 위 11항의 조건을 충족하지 못할 경우, 회사 임원들은 합병이나 분할을 진행해서는 안 됩니다. 이를 위반하여 채권자에게 손해를 입힌 경우, 해당 임원들이 손해배상 책임을 집니다.
13항: 주주총회 개최 최소 60일 전까지 합병 계약서 초안을 관할 세무 당국(세무서 또는 세관)에 통지해야 합니다. 만약 소멸 회사의 주식이나 지분에 담보가 설정된 경우, 동일한 기간 내에 담보권자에게도 알려야 합니다.
14항: 회계감사인은 기업 합병과 관련된 조사 결과 보고서를 작성해야 합니다.
또한, 개정된 69조의2 제5항에 따라, 합병 또는 분할 등기 신청은 30일 이내에 상업등기소에 제출해야 합니다.
이번 개정안의 목적은 기업 구조조정 과정에서 재무 건전성과 투명성을 확보하여 무분별한 합병을 막는 데 있습니다. 이를 위해 회사 경영진에게 구체적인 의무를 부과하고, 합병의 정당성을 검증하기 위해 회계감사인 제도를 도입했습니다. 또한, 신고 및 등기 기간을 연장하여 관련 기관이 충분히 검토할 시간을 갖게 하고, 성급하고 잠재적으로 유해한 기업 변화를 방지하고자 합니다. 핵심은 투기적이거나 부실한 합병으로 인해 채권자와 주주들이 입을 수 있는 피해를 보호하는 것입니다.
Based on the Government of the Slovak Republic's Legislative Tasks Plan for 2018, the Ministry of Finance has submitted a draft law on insurance tax for public consultation. This proposal aims to intr
Based on the Government of the Slovak Republic's Legislative Tasks Plan for 2018, the Ministry of Finance has submitted a draft law on insurance tax for public consultation. This proposal aims to introduce an insurance tax applicable to both non-life and life insurance sectors. The new tax will replace the current 8% levy on premiums from non-life insurance, as stipulated by the Insurance Act.
The insurance tax is a common practice in most EU member states, largely because insurance services are exempt from Value Added Tax (VAT) under Council Directive 2006/112/EC. Insurance companies are responsible for collecting and remitting this tax to the state budget. The tax will apply to insurance where the risk is located domestically, primarily on premium payments. In specific instances, it will also cover insurance costs paid by a legal entity to a policyholder who contracted with an insurer from a third country.
Primarily, legal entities operating in the insurance sector, including domestic insurers, EU/EEA insurers, and branches of foreign insurers from third countries, will pay this insurance tax. The proposed 8% rate will cover most non-life insurance sectors, replacing the existing 8% contribution from premiums. Reduced rates of 4% are proposed for accident and sickness insurance. Life insurance will see rates of 2% and 3%, with an exemption for pension insurance products under the 2nd and 3rd pillars to avoid taxing pension savings. The law is intended to take effect from October 1, 2018, meaning the tax will apply to premium payments received or paid after September 30, 2018, for policies where the insurance period begins after that date.
On November 22, 2018, Measure of the Ministry of Finance of the Slovak Republic No. MF/16021/2017-721 was approved, establishing the templates for income tax returns as amended. This new measure chang
2017년 귀속 소득세 신고와 관련하여 개인(B유형) 및 법인을 위한 새로운 신고서 양식이 도입되었습니다. 이 새로운 양식은 신고 마감일이 2018년인 경우부터 적용됩니다. 따라서 2017년 소득에 대해 B유형으로 신고하는 모든 개인과 일반 회계연도(1월-12월)를 따르는 모든 법인은 새로운 양식을 사용해야 합니다. 회계연도가 다른 일부 법인도 경우에 따라
On November 22, 2018, Measure of the Ministry of Finance of the Slovak Republic No. MF/16021/2017-721 was approved, establishing the templates for income tax returns as amended. This new measure changes the tax return templates for individuals (Type B) and legal entities for the year 2017. The new templates will be used for tax returns filed when the deadline falls within 2018. Consequently, all individuals filing Type B returns and all legal entities with a calendar fiscal year will use the new templates for their 2017 returns. Some legal entities with a fiscal year other than the calendar year will also adopt the new format in certain cases.
Furthermore, Measure of the Ministry of Finance of the Slovak Republic of December 8, 2017, No. MF/016923/2017-731, which establishes the template for value-added tax (VAT) returns, mandates changes to the VAT return form effective January 1, 2018. The new template will first be used in February 2018 for the January 2018 tax period.
A notable innovation also includes pre-filled tax returns for motor vehicle tax. The Financial Administration provides this form to taxpayers who electronically filed their motor vehicle tax returns for the 2016 tax period.
In summary, this text details significant updates to Slovak tax return forms. For income tax, new templates for individual (Type B) and legal entity returns for the 2017 tax year are introduced, effective for deadlines falling in 2018. The VAT return form also sees changes from January 1, 2018, with the new template first applied for the January 2018 period. Additionally, pre-filled motor vehicle tax returns are now available for eligible electronic filers from the 2016 tax year. These changes aim to standardize and potentially simplify the tax filing process for various taxpayer categories.
2017년 귀속 소득세 신고와 관련하여 개인(B유형) 및 법인을 위한 새로운 신고서 양식이 도입되었습니다. 이 새로운 양식은 신고 마감일이 2018년인 경우부터 적용됩니다. 따라서 2017년 소득에 대해 B유형으로 신고하는 모든 개인과 일반 회계연도(1월-12월)를 따르는 모든 법인은 새로운 양식을 사용해야 합니다. 회계연도가 다른 일부 법인도 경우에 따라 새 양식을 적용받게 됩니다.
또한 2018년 1월 1일부터 부가가치세(VAT) 신고서 양식도 변경됩니다. 새로운 양식은 2018년 1월분에 대해 2월에 신고할 때 처음으로 사용됩니다.
주목할 만한 또 다른 변화는 자동차세 분야에서 '미리 채워진 신고서'가 제공된다는 점입니다. 이는 2016년 귀속 자동차세를 전자적으로 신고했던 납세자에게 제공되는 편의 기능입니다.
요약하자면, 이번 슬로바키아의 세금 신고서 개정은 소득세, 부가가치세, 자동차세 등 다양한 세금 분야에 걸쳐 이루어졌으며, 납세자의 신고 절차를 표준화하고 간소화하는 것을 목표로 합니다.
Amendment to the Act on Tax Administration (Tax Code)
国税通則法の改正
국세기본법 개정
04.04.2018
As of January 1, 2018, amendments to the Tax Administration Act (Tax Code) came into effect, introducing several legislative changes. These include modifications to the definition of tax secrecy, requ
As of January 1, 2018, amendments to the Tax Administration Act (Tax Code) came into effect, introducing several legislative changes. These include modifications to the definition of tax secrecy, requiring entities to prove their entitlement to access such information. A new provision, § 19a, allows the Financial Directorate to create summary protocols for interconnected transactions of taxpayers who have violated or circumvented tax regulations.
Electronic communication with the financial administration is now mandatory for all legal entities registered in the commercial register and for all self-employed individuals registered for income tax, effective from January 1, 2018, and July 1, 2018, respectively. The concept of a "tax reliability index" has been introduced to evaluate taxpayers and offer them special tax regimes. The Financial Directorate will also publish lists of taxpayers based on income tax returns, VAT and excise tax registrations, and selected financial institutions and regulated entities.
Furthermore, the fees for binding opinions have been adjusted, and the deadline for filing appeals has been extended from 15 to 30 days. Changes in assessment proceedings ensure that the tax administrator who initiated the tax control will also issue the decision, even if a different administrator is assigned. The right to inspect files has been clarified, with exceptions for information shared with other EU member states or when disclosure could hinder tax administration or investigations. Finally, the tax code now disregards legal acts or transactions made without a proper business or economic reason, if their primary purpose is tax avoidance or unwarranted tax benefits.
Several amendments to the VAT Act became effective on January 1, 2018. Key changes include:
**Tax Representative for Foreign Persons:** Foreign entities not registered for VAT in Slovakia, and not otherwise liable for VAT there, can appoint a tax representative. This is applicable when they acquire goods in Slovakia from another member state for subsequent intra-community supply, export, or distance sales where the place of supply is another member state. One representative can act for multiple foreign persons, filing a single VAT return, control statement, and recapitulative statement for them. Invoices for goods supplied by a foreign person with the place of supply in Slovakia must include the tax representative's details.
**Transfer of Tax Liability (Agricultural Crops & Metals):** The domestic reverse charge mechanism now applies to all supplies of agricultural crops and metals, regardless of the invoiced price. The previous €5,000 threshold has been abolished.
**Tripartite Transactions:** Conditions for tripartite transactions have been adjusted. The first customer must not be established in the member state of the second customer. Previously, the first customer could not be VAT registered in the second customer's state. This aligns Slovak legislation with EU VAT directives.
**Recapitulative Statement:** VAT payers registered under §§ 7 and 7a of the VAT Act must submit a recapitulative statement if they are the first customer in a tripartite transaction.
**Security Deposit and Tax Administrator Obligation:** If a VAT registration is cancelled within 12 months of a security deposit being made, the tax office must promptly return the deposit. This does not apply if the cancellation is due to the dissolution of a legal entity without liquidation and a legal successor becomes a taxpayer.
**Consolidated Invoice for Foreign Persons:** From January 1, 2018, consolidated invoices for rent and supplies of utilities (electricity, gas, water, heat) over a 12-month period can be issued to foreign taxable persons, not just domestic ones as previously.
**Assignment of Receivables:** For taxpayers applying special schemes, if a customer pays for goods or services to a third party via an assigned receivable, the right to deduct VAT arises on the day of payment to that third party, up to the amount paid.
**Real Estate Supply:** When a property supply, otherwise exempt from VAT, is opted to be taxed by the supplier, the buyer becomes liable for the tax. The supplier must now inform the buyer in writing about this decision within the invoice issuance period.
**Investment Property and VAT Adjustment:** The definition of investment property now includes all constructions. The 20-year period for adjusting deducted VAT remains unchanged. This amendment applies to constructions where VAT was deducted after December 31, 2017.
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Effective January 1, 2018, several significant amendments were made to the VAT Act. A key change is the introduction of a tax representative for foreign persons not registered for VAT in Slovakia, facilitating their participation in intra-community supplies, exports, or distance sales under specific conditions. This representative will handle VAT returns and reports for multiple foreign entities. The reverse charge mechanism was expanded to include all agricultural crops and metals, removing the previous €5,000 threshold. Tripartite transaction rules were clarified, aligning with EU directives. Obligations regarding recapitulative statements and the return of security deposits were also updated. Consolidated invoices can now be issued to foreign entities for certain recurring supplies. Changes were also introduced for VAT liability in property transactions where the supplier opts to tax, and the scope of investment property for VAT adjustment purposes was broadened to include all constructions. These updates aim to streamline VAT compliance and align with broader EU tax regulations.
On December 7, 2017, the National Council of the Slovak Republic approved amendments to the Income Tax Act and the Tax Administration Act. These changes incorporate measures to implement the OECD's BE
On December 7, 2017, the National Council of the Slovak Republic approved amendments to the Income Tax Act and the Tax Administration Act. These changes incorporate measures to implement the OECD's BEPS Action Plan and the EU's Anti-Tax Avoidance Directive (ATAD). The amendments aim to combat tax avoidance, protect the internal market, and prevent base erosion and profit shifting out of Slovakia.
Key changes include:
A special tax regime for the commercial use of intangible assets, offering a 50% exemption on royalties from patents, utility models, and software developed by the taxpayer in Slovakia.
Clarification of taxation for profit shares of partners in general partnerships and general partners in limited partnerships, requiring proof of the ultimate beneficial owner or a 35% withholding tax.
A refined definition of a permanent establishment to include digital business models and prevent artificial fragmentation of activities.
Introduction of "exit taxation" to tax unrealized capital gains when a taxpayer changes tax residency or transfers assets abroad, with a 21% rate and a 5-year installment option.
Rules for Controlled Foreign Companies (CFCs) effective from January 1, 2019, to prevent artificial shifting of profits to low-taxed subsidiaries.
Non-monetary contributions and company reorganizations (mergers, demergers) will now be valued at fair value, with limited exceptions for original costs.
이것은 특정 글이 얼마나 유용했는지 묻는 평가 기능에 대한 설명입니다. 사용자에게 0점에서 5점까지의 척도로 점수를 매기도록 요청하며, 현재는 아직 아무도 평가하지 않은 상태입니다. '아직 등록된 평가가 없습니다. 가장 먼저 평가해주세요.'와 같은 문구로 첫 번째 평가를 유도하기도 합니다. 참고로 'Počet hlasov'는 '투표 수'를, 'Zatiaľ
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This content is a rating prompt for an article. It asks the user how useful the article was, with a rating scale from 0 to 5. Currently, there are no votes, meaning no one has rated it yet. The prompt encourages the first user to submit a rating. The phrase "Počet hlasov" translates to "Number of votes" and "Zatiaľ žiadne hlasy!" means "No votes yet!". The purpose is to gather user feedback on the article's utility.
이것은 특정 글이 얼마나 유용했는지 묻는 평가 기능에 대한 설명입니다. 사용자에게 0점에서 5점까지의 척도로 점수를 매기도록 요청하며, 현재는 아직 아무도 평가하지 않은 상태입니다. '아직 등록된 평가가 없습니다. 가장 먼저 평가해주세요.'와 같은 문구로 첫 번째 평가를 유도하기도 합니다. 참고로 'Počet hlasov'는 '투표 수'를, 'Zatiaľ žiadne hlasy!'는 '아직 투표 없음!'을 의미하는 외국어 사례입니다. 이 기능의 목적은 콘텐츠의 유용성에 대한 사용자의 피드백을 수집하는 것입니다.
The popular athletic event, Banskobystrická latka (BBL), celebrated its 24th edition this year, attracting renowned athletes. The high jump elite participated in the event, including the World Champio
The popular athletic event, Banskobystrická latka (BBL), celebrated its 24th edition this year, attracting renowned athletes. The high jump elite participated in the event, including the World Champion from London and the 2017 Athlete of the Year, Mutaz Essa Barshim, who is the only athlete in recent years to consistently clear heights over 240 cm.
We were honored to be involved in the sports sector and support this event.
More information can be found at:
http://bblatka.sk/
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The 24th edition of the Banskobystrická latka (BBL), a favored athletic competition, drew top high jumpers. Notably, World Champion Mutaz Essa Barshim, also the 2017 Athlete of the Year, participated. Barshim is distinguished for his consistent clearances exceeding 240 cm in recent years. The organizers expressed their honor in supporting this sporting event, providing a link for further details. The content also included a rating system for the article's usefulness, which had received no votes at the time of this summary.
Employee Posting from EU States to the Czech Republic
EU加盟国からチェコ共和国への従業員派遣
从欧盟国家派遣员工至捷克共和国
EU 회원국 근로자의 체코 파견
08.01.2018
Sending employees abroad can simplify operating in foreign markets. While the Czech Republic doesn't require pre-assignment registration with customs or other authorities, compliance with various rule
Sending employees abroad can simplify operating in foreign markets. While the Czech Republic doesn't require pre-assignment registration with customs or other authorities, compliance with various rules and legal restrictions is essential to avoid penalties and ensure a smooth assignment.
EU Directive 96/71/ES mandates adherence to Czech labor laws regarding work hours, rest periods, vacation time, minimum wage, overtime pay, workplace safety, and equal treatment, even when a local contract is in place. However, if the employee's home country offers more favorable terms in any of these areas, those terms apply instead. The minimum wage in the Czech Republic for unskilled professions was CZK 11,000 in 2017, increasing to CZK 12,200 in 2018, with higher guaranteed wages for more demanding roles.
For social security within the EU, employees typically remain under their home country's system for assignments up to 24 months, as per Regulation 883/2004. This affects social security and health insurance payments but doesn't restrict access to healthcare in the host country. Form A1 is required to confirm social security affiliation.
Taxation is determined by double taxation treaties, defining tax residency and potential permanent establishments. Non-residents are taxed only on Czech-sourced income, while residents are taxed on global income. If taxation occurs in the Czech Republic, income is taxed at 15%, with an additional 7% solidarity tax for annual incomes exceeding CZK 1,355,136 in 2017 (CZK 1,438,992 in 2018). The tax base includes employer-paid insurance. Employees are entitled to a CZK 24,840 annual tax credit, with specific requirements for non-residents. It is crucial to determine whether the foreign employer is obligated to withhold taxes.
For assignments from non-EU countries, double taxation treaties still apply, but social security requires verification via bilateral agreements.
The issue of cross-border employee posting is currently relevant due to the complexities of the host country's legal system, which impose numerous obligations in labor law, social security law, tax la
해외 인력 파견은 파견 대상 국가의 노동법, 사회보장법, 세법 등 복잡한 법률 시스템으로 인해 다양한 의무가 부과되는 중요한 문제입니다. 슬로바키아에서는 2016년 6월 노동법 개정을 통해 직원 파견 관련 규정에 상당한 변화가 있었습니다. 개정된 노동법은 다음 세 가지 유형의 해외 파견을 규정합니다.
* **용역 제공 파견:** 파견 기업의 지휘와 책
The issue of cross-border employee posting is currently relevant due to the complexities of the host country's legal system, which impose numerous obligations in labor law, social security law, tax law, and other regulations. Significant changes to the regulation of employee posting were made in the Slovak Labor Code in June 2016. The Labor Code regulates three types of cross-border posting: posting under the direction and responsibility of the sending employer who provides services abroad to their customer; intra-group posting between a parent and subsidiary company or between sister companies; and temporary assignment (leasing) of an employee to a user employer, where the employee works under their direction.
This newsletter outlines simplified tax schemes related to these cross-border posting options for foreign employees working in Slovakia. If the activity is performed in Slovakia for more than 183 days in any 12-month period, Slovakia has the right to taxation. If less than 183 days, income from dependent activity is taxed abroad. However, providing services can create a permanent establishment risk. Exceeding 183 days requires the foreign employer/employee to register for income tax and pay advances in Slovakia. Employers often confuse posting with business trips, but business trips involve temporary tasks outside the scope of the employer's services.
For intra-group postings or temporary assignments, determining the employer's status is crucial. Tax advances are deducted in Slovakia from the first day by the "economic employer". The foreign employee's tax in Slovakia is settled through a tax return or annual reconciliation done by the economic employer. Due to the specifics of each employee posting, detailed information is available at martin.kino@bdrbb.sk.
해외 인력 파견은 파견 대상 국가의 노동법, 사회보장법, 세법 등 복잡한 법률 시스템으로 인해 다양한 의무가 부과되는 중요한 문제입니다. 슬로바키아에서는 2016년 6월 노동법 개정을 통해 직원 파견 관련 규정에 상당한 변화가 있었습니다. 개정된 노동법은 다음 세 가지 유형의 해외 파견을 규정합니다.
* **용역 제공 파견:** 파견 기업의 지휘와 책임 하에 해외 고객에게 서비스를 제공하는 경우 * **그룹 내 파견:** 모회사와 자회사 또는 자매회사 간에 직원을 파견하는 경우 * **임시 파견(근로자 리스):** 직원을 사용 기업에 임시로 배정하여 그 기업의 지휘를 받으며 근무하게 하는 경우
본 뉴스레터는 슬로바키아에서 근무하는 외국인 근로자를 위한 각 해외 파견 유형별 세금 규정을 간략히 설명합니다.
슬로바키아에서 12개월 중 183일을 초과하여 근무하는 경우, 슬로바키아 정부에 과세권이 있습니다. 근무 기간이 183일 미만이면 해당 근로소득은 해외에서 과세됩니다. 다만, 슬로바키아 내에서 용역을 제공하는 경우 고정 사업장(Permanent Establishment)으로 간주될 위험이 있습니다. 183일을 초과하여 근무하게 되면 해외 고용주와 근로자는 슬로바키아에 소득세를 등록하고 세금을 선납해야 합니다. 많은 기업이 파견과 출장을 혼동하지만, 출장은 기업의 주된 서비스 범위를 벗어난 임시 업무를 수행하는 것을 의미한다는 점에서 차이가 있습니다.
그룹 내 파견이나 임시 파견의 경우, 세법상 고용주가 누구인지 판단하는 것이 매우 중요합니다. 이때 실질적인 지휘·감독권을 행사하는 '경제적 고용주'가 근무 첫날부터 슬로바키아에서 세금을 원천징수해야 합니다. 외국인 근로자의 세금 정산은 근로자가 직접 세금 신고를 하거나 경제적 고용주가 연말정산을 통해 처리합니다.
각 파견 유형별로 세부 사항이 다르므로, 자세한 정보는 martin.kino@bdrbb.sk로 문의해 주시기 바랍니다.
Germany: Deployment of Foreign Workers – Tax Aspects of Posting Workers
德国:外籍员工派遣的涉税问题
독일: 외국인 근로자 파견 – 세무상 주요 사항
08.01.2018
The employment of foreign workers in Germany is steadily increasing, presenting German and international companies with various challenges. Whether through employee secondments, direct hiring of forei
독일 내 외국인 근로자 고용이 꾸준히 증가하면서, 독일 기업과 해외 기업들은 여러 어려움에 직면하고 있습니다. 직원 파견, 외국인 직접 채용, 독일 출장 등 어떤 경우든 세금 문제가 발생합니다. 서류 제출 의무가 늘어나고 법적 책임 문제도 커지고 있어, 포괄적인 전문가의 자문이 매우 중요합니다.
우선 독일 세법에 따른 납세 의무 여부를 판단해야 합니다.
The employment of foreign workers in Germany is steadily increasing, presenting German and international companies with various challenges. Whether through employee secondments, direct hiring of foreign nationals, or business trips to Germany, each scenario carries tax implications. Comprehensive advice is crucial, especially given rising documentation requirements and liability issues.
Initially, one must determine tax liability under German tax law. Establishing residency or usual abode in Germany subjects a worker to unlimited tax liability, meaning their worldwide income is taxable in Germany. Residency isn't limited to a personal apartment; even a furnished room can qualify. A usual abode is generally considered a continuous stay exceeding six months. Brief departures and returns typically don't interrupt this period. Numerous details require careful attention, making early, in-depth consultation essential.
If no residency or usual abode is established during activities in Germany, a limited tax liability applies. In this case, income sourced within Germany, such as wages for days worked in Germany, is subject to German income tax.
To prevent potential double taxation, the applicability of double taxation treaties (DTTs) must be checked. For dependent employment income, the principle of place of work generally dictates that Germany has the right to tax if work was performed domestically. Exceptions exist, notably the 183-day rule. If a worker residing abroad spends less than 183 days in Germany in a calendar year, and their salary is not paid by a German economic employer or permanent establishment, Germany usually lacks taxing rights. However, other conditions might trigger German taxing rights, requiring careful review of the relevant DTT and national regulations.
If a worker incurs German tax liability, the employer must act promptly. They need to process payroll for the employee in Germany, report, withhold, and remit the wage tax to the German tax authorities. Wage tax withholding is generally applied in full to income earned for work performed in Germany by individuals with unlimited tax liability. For those with limited liability or where Germany has taxing rights, withholding applies only to income earned during workdays spent in Germany.
Proactive planning is recommended to assess and optimize the tax implications of deploying workers. This includes clarifying tax liability, setting up payroll, and submitting necessary applications. Issues related to residence and social security regulations also require attention.
독일 내 외국인 근로자 고용이 꾸준히 증가하면서, 독일 기업과 해외 기업들은 여러 어려움에 직면하고 있습니다. 직원 파견, 외국인 직접 채용, 독일 출장 등 어떤 경우든 세금 문제가 발생합니다. 서류 제출 의무가 늘어나고 법적 책임 문제도 커지고 있어, 포괄적인 전문가의 자문이 매우 중요합니다.
우선 독일 세법에 따른 납세 의무 여부를 판단해야 합니다. 독일에 주소나 상시 거처가 있으면 '무제한 납세 의무자'가 되어 전 세계에서 발생한 모든 소득에 대해 독일에 세금을 내야 합니다. 주소는 개인 아파트에만 한정되지 않으며, 가구가 갖춰진 방 한 칸도 주소로 인정될 수 있습니다. 상시 거처는 보통 6개월 이상 연속으로 체류하는 경우를 의미하며, 중간에 잠시 출국했다 돌아와도 이 기간은 계속 이어지는 것으로 봅니다. 이처럼 고려해야 할 세부사항이 많으므로, 초기에 심도 있는 상담을 받는 것이 필수적입니다.
만약 독일에서 활동하는 동안 주소나 상시 거처가 없다면 '제한 납세 의무'가 적용됩니다. 이 경우 독일 내에서 근무한 대가로 받는 급여 등 독일에서 발생한 소득에 대해서만 독일 소득세를 납부하게 됩니다.
이중 과세를 방지하려면, 국가 간에 체결된 '이중 과세 방지 협약'의 적용 여부를 확인해야 합니다. 근로소득의 경우, 기본적으로 근무한 국가에서 과세권을 가집니다. 따라서 독일에서 일했다면 독일이 과세권을 갖는 것이 원칙입니다. 하지만 '183일 규정'과 같은 예외 조항이 있습니다. 예를 들어, 해외에 거주하는 근로자가 독일에 1년 중 183일 미만으로 체류하고, 급여를 독일의 고용주나 고정 사업장에서 지급하지 않는다면, 일반적으로 독일은 과세권을 갖지 못합니다. 그러나 다른 조건에 따라 독일이 과세권을 가질 수도 있으므로, 관련 이중 과세 방지 협약과 국내법을 면밀히 검토해야 합니다.
근로자에게 독일 납세 의무가 발생하면, 고용주는 신속하게 조치해야 합니다. 고용주는 해당 직원에 대한 급여를 독일에서 처리하고, 급여세를 신고, 원천징수하여 독일 세무 당국에 납부해야 합니다. 무제한 납세 의무자의 경우, 독일 근무로 발생한 소득 전체에 대해 급여세가 원천징수됩니다. 제한 납세 의무자이거나 조세 협약에 따라 독일이 과세권을 갖는 경우에는 독일에서 실제 근무한 기간에 발생한 소득에 대해서만 원천징수합니다.
근로자 파견 시 발생할 수 있는 세금 문제를 평가하고 최적의 방안을 찾기 위해 선제적인 계획을 세우는 것이 좋습니다. 여기에는 납세 의무 명확화, 급여 시스템 구축, 필요 서류 신청 등이 포함됩니다. 또한 체류 및 사회보장제도 관련 문제도 함께 고려해야 합니다.
Recent French laws, such as the Loi Macron (2015) and Loi Travail (2016), have significantly tightened regulations for posted workers. The definition of "posting" is broad, covering nearly all work-re
최근 프랑스의 마크롱 법(2015)과 노동법(2016) 등으로 인해 해외 기업의 프랑스 파견 근로자에 대한 규정이 크게 강화되었습니다. '파견'의 정의는 매우 광범위하여, 외국 기업 소속 직원이 프랑스에서 수행하는 거의 모든 업무 관련 출장은 기간이나 직책에 상관없이 규제 대상에 포함됩니다. 따라서 모든 파견에 대해 사전 신고 의무가 적용됩니다. 단, 프랑
Recent French laws, such as the Loi Macron (2015) and Loi Travail (2016), have significantly tightened regulations for posted workers. The definition of "posting" is broad, covering nearly all work-related travel to France by an employee of a foreign company, regardless of duration or the employee's role. A prior notification obligation applies to all such postings, with an exception for workers permanently employed in France by foreign companies registered there and paying social contributions.
Foreign companies must appoint a French representative who speaks French, has a French postal and email address, and keeps all required documentation readily available for inspections. All postings must be reported electronically via the SIPSI portal before commencement, with a €40 fee per posted worker implemented from January 1, 2018. Posted employees are subject to French labor laws, including minimum wage, working hours, and health and safety regulations. Companies must retain extensive documentation, such as payslips, work contracts, and A1 certificates, all in French.
Non-compliance with these regulations can result in substantial fines, starting at €2,000 per violation, doubling for repeat offenses, with a maximum of €500,000. These fines apply to violations like failing to appoint a representative or submit timely declarations. Additionally, clients in France are co-responsible, obligated to verify compliance by their service providers. Failure to do so can lead to penalties mirroring those for the foreign company, including interruption of work and fines for missing A1 certificates. The French client also guarantees the €40 fee payment if the posting company fails to declare and pay.
The intensified enforcement, facilitated by online reporting, means increased inspections and a higher likelihood of significant financial and reputational consequences for non-compliant businesses. Engaging local expert advisors is recommended to navigate these complex rules and ensure smooth operations for posted workers in France.
최근 프랑스의 마크롱 법(2015)과 노동법(2016) 등으로 인해 해외 기업의 프랑스 파견 근로자에 대한 규정이 크게 강화되었습니다. '파견'의 정의는 매우 광범위하여, 외국 기업 소속 직원이 프랑스에서 수행하는 거의 모든 업무 관련 출장은 기간이나 직책에 상관없이 규제 대상에 포함됩니다. 따라서 모든 파견에 대해 사전 신고 의무가 적용됩니다. 단, 프랑스에 정식으로 등록되어 사회보장세를 납부하는 외국 기업이 현지에서 직원을 상시 고용하는 경우는 예외입니다.
외국 기업은 반드시 프랑스 현지 대리인을 지정해야 합니다. 이 대리인은 프랑스어를 구사하고 현지 우편 및 이메일 주소를 보유해야 하며, 당국의 검사에 대비해 모든 필수 서류를 즉시 제출할 수 있도록 보관해야 합니다. 모든 파견 건은 업무 시작 전 'SIPSI'라는 온라인 시스템을 통해 의무적으로 신고해야 하며, 2018년 1월 1일부터 파견 직원 1인당 40유로의 수수료가 부과됩니다. 파견된 직원은 최저 임금, 근로 시간, 산업 안전 보건 등 프랑스 노동법의 적용을 받습니다. 또한 기업은 급여명세서, 고용계약서, A1 증명서 등 모든 관련 서류를 프랑스어로 작성하여 보관해야 합니다.
이러한 규정을 준수하지 않을 경우 무거운 벌금이 부과될 수 있습니다. 벌금은 위반 건당 최소 2,000유로부터 시작하며, 반복 위반 시 두 배로 증액되어 최대 500,000유로까지 부과될 수 있습니다. 이는 대리인 미지정, 신고 지연 등 모든 위반 사항에 적용됩니다. 특히 프랑스 현지 고객사에게도 연대 책임이 부과되어, 해외 파트너가 관련 규정을 준수하는지 직접 확인할 의무가 있습니다. 만약 이를 소홀히 할 경우, 파견 기업과 동일한 수준의 업무 중단 조치나 벌금(A1 증명서 미비 등)을 받을 수 있으며, 파견 기업이 신고 수수료 40유로를 미납할 경우 지불을 보증해야 합니다.
온라인 신고 시스템 도입으로 단속이 더욱 강화되면서, 규정을 준수하지 않는 기업은 상당한 재정적, 평판적 손실을 입을 가능성이 커졌습니다. 따라서 프랑스에 직원을 파견할 경우, 현지 전문가의 자문을 받아 복잡한 규정을 준수하고 원활한 업무를 진행하는 것이 중요합니다.
Sending and Temporary Assignment of Workers to Austria
オーストリアへの労働者派遣
오스트리아 근로자 파견 및 임시 배치
08.01.2018
**Posting and Temporary Assignment to Austria**
When an employer temporarily deploys employees to a different work location to fulfill a contractual obligation, it is considered a posting. This diffe
고용주가 계약상 의무 이행을 위해 직원을 다른 국가의 근무지로 일시적으로 보내는 것을 '파견(Posting)'이라고 합니다. 이는 고용주가 제3의 기업(사용 기업)에 직원을 제공하여 일하게 하는 '국가 간 임시 근로(Temporary Assignment)'와는 구분됩니다. 두 경우 모두 오스트리아의 노동법, 최저
**Posting and Temporary Assignment to Austria**
When an employer temporarily deploys employees to a different work location to fulfill a contractual obligation, it is considered a posting. This differs from cross-border temporary assignment, where an employer makes employees available to a third party (user employer). Regulations regarding labor law, minimum wage, reporting, residence permits, and social security must be adhered to.
Austrian labor law, including employee protection and regulations on working hours and rest periods (AZG, ARG, and collective agreements), must be observed if they are more beneficial to the posted or temporarily assigned employees than the regulations in their home country. A standard work week is 40 hours, and records of actual working hours must be maintained and readily available. Employees are entitled to at least the minimum wage stipulated by Austrian law or collective agreements.
EU/EEA/Swiss companies must report postings or temporary assignments using forms ZKO 3/4 to the Central Coordination Office for Illegal Employment Control before work begins. Companies posting third-country nationals require an EU posting certificate from the AMS, which verifies proper employment and adherence to Austrian wage and working conditions.
Third-country companies posting workers do not report to the Central Coordination Office; instead, the Austrian employer must apply for posting or employment permits. For temporary assignments from third countries, the Austrian company needs a special temporary assignment permit and subsequent employment permit from the AMS.
Third-country nationals require a visa and residence permit (if staying over six months); EU citizens need a residence certificate if staying longer than three months. Employees typically remain insured under their home country's social security system for postings/assignments up to 24 months, provided they don't replace previous workers. A1 certificates confirm existing insurance coverage.
Required documents (A1 certificate, posting report copy, wage records, and work permit, if applicable) must be available in German at the work location. Contact person: Mag. Florian Würth.
고용주가 계약상 의무 이행을 위해 직원을 다른 국가의 근무지로 일시적으로 보내는 것을 '파견(Posting)'이라고 합니다. 이는 고용주가 제3의 기업(사용 기업)에 직원을 제공하여 일하게 하는 '국가 간 임시 근로(Temporary Assignment)'와는 구분됩니다. 두 경우 모두 오스트리아의 노동법, 최저임금, 신고 의무, 거주 허가, 사회보장 관련 규정을 준수해야 합니다.
오스트리아의 노동법(근로자 보호, 근로시간 및 휴식기간 규정 등)이 본국 규정보다 근로자에게 더 유리한 경우, 파견 또는 임시 근로자는 오스트리아 법을 적용받습니다. 법정 기본 근로시간은 주 40시간이며, 실제 근로시간 기록부를 작성하여 항상 비치해야 합니다. 근로자는 오스트리아 법률 및 단체협약에 명시된 최저임금 이상을 받을 권리가 있습니다.
EU/EEA/스위스 기업은 업무 시작 전, ZKO 3/4 양식을 사용하여 불법고용 단속 중앙 조정 기관(ZKO)에 파견 또는 임시 근로 사실을 신고해야 합니다. 제3국 국적자를 파견하는 경우에는, 해당 근로자의 고용이 적법하며 오스트리아의 임금 및 근로 조건을 준수함을 증명하는 'EU 파견 증명서'를 오스트리아 고용서비스(AMS)로부터 발급받아야 합니다.
제3국 기업이 근로자를 파견하는 경우, 중앙 조정 기관에 신고하는 것이 아니라 오스트리아 현지 고용주가 파견 허가 또는 고용 허가를 신청해야 합니다. 제3국에서 임시 근로자를 받는 경우, 오스트리아 기업은 특별 임시 근로 허가와 그에 따른 고용 허가를 AMS로부터 받아야 합니다.
제3국 국적자는 비자가 필요하며, 6개월 이상 체류 시 거주 허가를 받아야 합니다. EU 시민은 3개월 이상 체류 시 거주 등록증이 필요합니다. 기존 파견 인력을 대체하는 경우가 아니라면, 최대 24개월까지의 파견 기간 동안에는 일반적으로 본국의 사회보장제도에 계속 가입됩니다. A1 증명서는 본국 사회보장제도 가입 사실을 증명하는 서류입니다.
필수 서류(A1 증명서, 파견 신고서 사본, 임금 관련 기록, 해당 시 노동 허가서)는 모두 독일어로 작성하여 근무지에 비치해야 합니다.
Production Models from a Transfer Pricing Perspective
移転価格税制における生産モデル
转让定价视角下的生产模式
이전가격 관점에서 본 생산 모델
23.09.2017
Manufacturing activities within a group can be organized in four main models: full-fledged manufacturer, limited-risk manufacturer, contract manufacturer, and toll manufacturer.
Manufacturing activities within a group can be organized in four main models: full-fledged manufacturer, limited-risk manufacturer, contract manufacturer, and toll manufacturer.
A full-fledged manufacturer performs all activities from product design to sales, bearing all associated risks and owning significant intangible assets. A limited-risk manufacturer is responsible for all production phases but doesn't own intangible assets, instead licensing them.
A contract manufacturer focuses solely on production and quality control according to the principal's specifications. Production is pre-sold, and the manufacturer owns the produced goods but is not involved in design, distribution, or sales, essentially acting as a service provider.
The least risky profile is the toll manufacturer, which is similar to a contract manufacturer but doesn't own inventory or finished goods.
In transfer pricing theory and practice, the fundamental rule is that greater risks and functions performed lead to a higher expected return.
Summary:
Manufacturing can be structured through four models based on risk and responsibility. A full-fledged manufacturer handles everything from design to sales, owning intangibles and bearing full risk. Limited-risk manufacturers handle all production phase but license intangible assets. Contract manufacturers produce goods to specifications, owning them until sale but not involved in design or distribution. Toll manufacturers are similar to contract manufacturers but never own the inventory. Generally, the more risk and functions a manufacturer undertakes, the greater their expected compensation under transfer pricing principles. These different models are employed to best achieve business objectives, with the riskier models potentially offering more profit but with greater responsibility and resources required.
This year, we supported the "Osmidiv Festival," a cultural event organized for the eighth year in Banská Štiavnica for children and people with intellectual disabilities.
올해 저희는 반스카 슈티아브니차에서 8회째 열린 '오스미디브 페스티벌'을 후원했습니다. 이 축제는 지적 장애 아동과 주민들을 위한 문화 행사입니다.
저희의 후원으로 장애 아동들은 이국적인 줌바 댄스, 엔커스틱 아트(뜨거운 밀랍을 이용한 그림), 장신구 및 와이어 공예, 다우징, 페이스 페인팅 등 다채로운 워크숍에 참여하여 새로운 기술을 배울 수 있었습니다
This year, we supported the "Osmidiv Festival," a cultural event organized for the eighth year in Banská Štiavnica for children and people with intellectual disabilities.
Thanks to our support, children with disabilities were able to learn new skills at workshops such as exotic ZUMBA dances, encaustic art (painting with hot wax), jewelry making, wire work, dowsing, and face painting. We are happy that these children had fun, and we were able to indirectly participate in their joy.
Summary:
The organization supported the eighth annual "Osmidiv Festival" in Banská Štiavnica, a cultural event dedicated to children and individuals with intellectual disabilities. Their support enabled disabled children to participate in various workshops, learning skills such as exotic Zumba, encaustic painting, jewelry making, wire working, dowsing, and face painting. The organization expressed satisfaction in contributing to the children's enjoyment and overall success of the festival through their involvement. The festival provided opportunities for skill development and fun for the participants.
올해 저희는 반스카 슈티아브니차에서 8회째 열린 '오스미디브 페스티벌'을 후원했습니다. 이 축제는 지적 장애 아동과 주민들을 위한 문화 행사입니다.
저희의 후원으로 장애 아동들은 이국적인 줌바 댄스, 엔커스틱 아트(뜨거운 밀랍을 이용한 그림), 장신구 및 와이어 공예, 다우징, 페이스 페인팅 등 다채로운 워크숍에 참여하여 새로운 기술을 배울 수 있었습니다. 아이들이 즐겁게 축제를 즐기는 모습을 보며, 이들의 기쁨에 함께할 수 있어 큰 보람을 느꼈습니다. 이번 후원을 통해 축제가 성공적으로 개최되고, 아이들이 새로운 기술을 배우며 즐거운 시간을 보내는 데 기여할 수 있어 기쁘게 생각합니다.
The Slovak Tax Code (Act No. 563/2009 Coll.) is expected to undergo changes aimed at increasing transparency, improving public awareness, and curbing tax evasion. The proposed amendment, effective Jan
The Slovak Tax Code (Act No. 563/2009 Coll.) is expected to undergo changes aimed at increasing transparency, improving public awareness, and curbing tax evasion. The proposed amendment, effective January 1, 2018, introduces a tax reliability index to objectively assess tax subjects based on their compliance, incentivizing higher reliability with benefits and potentially special tax regimes. It also mandates electronic filing for all legal entities and income tax-registered entrepreneurs, with limited exceptions, extending this requirement to their representatives (excluding lawyers and tax advisors).
Furthermore, the amendment empowers the Financial Directorate to create comprehensive protocols on interconnected transactions of tax subjects found violating tax regulations, particularly within fraudulent chains. These protocols, derived from tax audits and on-site investigations, will provide a holistic view of participant behavior without replacing individual audit reports. Finally, the Financial Directorate will publish quarterly lists of corporate income taxpayers, including non-profit entities, detailing assessed tax, additional tax assessments, or tax losses. Lists of VAT payers with claimed or additionally claimed VAT refunds will also be published quarterly, with a minimum threshold set by the Ministry of Finance.
The Slovak Ministry of Finance has proposed amendments to the Value Added Tax (VAT) Act, effective January 1, 2018, to align with the European Court of Justice rulings and address application issues.
The Slovak Ministry of Finance has proposed amendments to the Value Added Tax (VAT) Act, effective January 1, 2018, to align with the European Court of Justice rulings and address application issues. Key changes include adjustments to the tax security deposit, extending the deposit requirement to entities with tax arrears exceeding €1,000 or those deregistered for repeated non-compliance. The definition of a participant in a triangular transaction is refined to focus on the absence of a registered office or fixed establishment in the second customer's member state. A specific VAT liability is introduced for assignees using special arrangements, triggering tax liability upon assignment with a corresponding deduction right for the customer.
The proposed changes also abolish the €5,000 threshold for reverse charge on grains and metals, extending it to all supplies of these commodities. A summary invoice for electricity, gas, water, and heat can now be issued to foreign taxable persons for periods up to 12 months. Faster refunds of excess deductions are proposed based on control statement data, even before a tax audit. Those registered for tax under specific sections will be required to submit a summary statement if they participate in a triangular transaction as the first customer. Finally, VAT deducted from payments must be returned in the last tax period if the goods or services were not delivered by the date of deregistration.
The Ministry of Finance of the Slovak Republic is proposing an amendment to the Income Tax Act to combat tax fraud, aggressive tax planning, and base erosion and profit shifting. The changes align wit
The Ministry of Finance of the Slovak Republic is proposing an amendment to the Income Tax Act to combat tax fraud, aggressive tax planning, and base erosion and profit shifting. The changes align with the Slovak government's program statement, legislative plan for 2017, and the EU's Anti-Tax Avoidance Directive (ATAD), which Slovakia must implement by December 31, 2018, with certain exceptions effective from January 1, 2019, and a one-year extension for transfer pricing rules.
The amendment affects laws on banks, housing loans, and tax administration. Key changes include a new debt relief mechanism via bankruptcy or payment schedule, providing tax-free income for discharged debts and deductible allowances for claims against debtors with court-ordered payment schedules. A tax bonus on mortgage interest payments is proposed, capped at €50,000 per property. Support for domestic spa care and tourism is included, introducing a non-taxable portion of income for spa-related expenses (food, accommodation, procedures) up to €50 per taxpayer, spouse, and dependent child, claimable by only one of them.
A special tax regime for commercial use of intangible assets, such as patents and software developed in Slovakia, offers a 50% tax exemption on royalties. Additionally, a 50% exemption is proposed for embedded royalties from the sale of products using registered intellectual property, after deducting direct and indirect costs and a market-based markup. The amendment also clarifies the taxation of profit shares for partners in public trading and limited partnerships with stakes in limited liability companies or cooperatives. Non-cash contributions will be valued at fair market value. An "exit tax" ensures taxation of unrealized capital gains when assets or tax residency move abroad, with a 21% rate and possible installment payments. A new non-deductible expense rule targets double deduction situations between related parties, and the deadline for remitting withholding tax for apartment owners is extended. Most provisions take effect on January 1, 2018, with some on January 1, 2019.
Attention: New General Data Protection Regulation (GDPR for short) from next year
16.08.2017
On May 25, 2018, the General Data Protection Regulation (GDPR) will come into effect throughout the European Union, replacing existing data protection legislation. All entities affected by the regulat
On May 25, 2018, the General Data Protection Regulation (GDPR) will come into effect throughout the European Union, replacing existing data protection legislation. All entities affected by the regulation must revise their information systems and data handling procedures. While some GDPR mechanisms are familiar, new obligations are introduced, particularly for intermediaries who will play a more active role in data protection.
GDPR strengthens citizens' rights and introduces the principle of accountability, requiring data controllers and processors, regardless of size, to implement technical, organizational, and procedural measures to demonstrate compliance.
The changes include significantly stricter penalties for non-compliance, potentially reaching €20 million or 4% of a company's global annual turnover, whichever is higher. The exact penalty will depend on factors such as the nature, severity, and duration of the violation, the number of affected citizens, the extent of the damage, and the measures taken to mitigate the damage. The GDPR is a pressing issue, and expert advice is available to ensure companies are prepared for the upcoming changes.
The fight against illegal online gambling has begun
16.08.2017
From July 2017, the Slovak Financial Administration began monitoring illegal online gambling, targeting websites that do not comply with Slovak legislation regarding gambling. Specifically, it focuses
From July 2017, the Slovak Financial Administration began monitoring illegal online gambling, targeting websites that do not comply with Slovak legislation regarding gambling. Specifically, it focuses on entities operating online gambling games without a valid license issued by the Slovak Ministry of Finance, offering prohibited services. These entities will be published on a list of banned websites maintained by the Financial Administration, updated weekly from July 17, 2017. The Financial Administration will request court orders to block these websites and incoming payments to the accounts of illegal gambling providers.
Operating prohibited services can result in fines of up to €500,000. The main reasons for combating illegal online gambling are tax evasion and protecting minors from gambling. However, experts predict a difficult and potentially impossible battle for the Financial Administration against illegal online gambling. A list of banned websites is available.
The Financial Administration is taking action against illegal online gambling to tackle tax evasion, protect minors, and enforce gambling laws. Websites operating without a valid Slovak license will be blacklisted, and legal action will be pursued to block access and payments. This initiative aims to curb prohibited online gambling services, which are subject to substantial fines. Despite these efforts, experts anticipate significant challenges in effectively combating illegal online gambling activities. The Financial Administration will maintain a publicly accessible list of banned websites for monitoring compliance.
New Version of the OECD Transfer Pricing Guidelines
16.08.2017
On July 10, 2017, the OECD released an updated version of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. These changes are globally significant, as the OECD Gui
On July 10, 2017, the OECD released an updated version of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. These changes are globally significant, as the OECD Guidelines are a primary and respected source of guidance on transfer pricing.
The updated version incorporates changes approved in 2015 and 2016 related to the Base Erosion and Profit Shifting (BEPS) Action Plan, specifically Actions 8-10 (Aligning Transfer Pricing Outcomes with Value Creation) and Action 13 (Transfer Pricing Documentation and Country-by-Country Reporting). It also includes guidance on the application of "safe harbors" approved in 2013.
The 2017 version updates the 2010 guidelines. The original OECD Guidelines were approved and issued in 1995. While widely accepted by tax administrations worldwide, the OECD Guidelines are currently only advisory in the Slovak Republic. The updated version is available on the OECD website.
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The OECD released updated Transfer Pricing Guidelines on July 10, 2017, incorporating changes from the BEPS Action Plan related to aligning transfer pricing with value creation and transfer pricing documentation, including country-by-country reporting. These changes, approved in 2015 and 2016, also include guidance on the application of "safe harbors" approved in 2013. This 2017 update revises the 2010 version of guidelines that were originally approved in 1995. The OECD guidelines, while broadly accepted internationally, currently hold only advisory status in the Slovak Republic. The updated guidelines are available for review on the OECD website. The guidelines are primary and respected source of guidance on transfer pricing across the world.
The Subsistence Level Will Increase From July 1, 2017
16.08.2017
The subsistence minimum, unchanged for the past 4 years due to low inflation, has increased from €198.09 to €199.48 as of July 1, 2017. This change will lead to a slight increase in social benefits an
The subsistence minimum, unchanged for the past 4 years due to low inflation, has increased from €198.09 to €199.48 as of July 1, 2017. This change will lead to a slight increase in social benefits and a reduction in tax burden starting in 2018. For 2018, the tax-free allowance for a taxpayer will be €3,830.02, the same amount for a spouse. The threshold for mandatory tax return submission will rise to €1,915.01. The monthly tax bonus will increase to €21.56 from the previous €21.41. The minimum early retirement pension threshold will be raised to €239.40. The child allowance will be €23.68, and the parental allowance will increase to €214.70.
A proposed amendment to the Commercial Code, expected to take effect January 1, 2018, introduces several significant changes aimed at improving the business environment and combating tax fraud. Key me
2018년 1월 1일부터 시행 예정인 상법 개정안은 사업 환경 개선과 탈세 방지를 목표로 다음과 같은 주요 변경 사항을 포함합니다.
재정난을 겪는 기업의 부실 합병을 막기 위해 감사인의 확인서를 의무화하고, 합병 위험에 대한 감사인의 책임도 강화됩니다. 또한, 사기 행위를 위해 명의만 빌려주는 소위 '바지사장'을 내세우는 행위가 범죄로 규정됩니다. 명의를
A proposed amendment to the Commercial Code, expected to take effect January 1, 2018, introduces several significant changes aimed at improving the business environment and combating tax fraud. Key measures include preventing dishonest company mergers by requiring an auditor's attestation for financially troubled companies seeking to merge, holding the auditor responsible for the merger's risk. The amendment also criminalizes the use of "straw men" (front individuals for fraudulent activities), imposing up to a 15-year prison sentence for involvement in such schemes, including those who facilitate these transfers or transfer their company shares to straw men. Furthermore, it tightens penalties for irresponsible statutory representatives who fail to file for bankruptcy on time, making them liable for damages to creditors and potentially disqualifying them from holding directorial positions for three years. Board members will now need to be physically capable, legally competent, and have a clean criminal record. Public sector partners will face a stricter 30-day payment deadline for subcontractor invoices on public contracts. Company deregistration will require consent from both tax and social security authorities. Individuals with tax or social security debt will be barred from establishing limited liability companies. The amendment also clarifies rules for other capital funds, introducing notification duties for distributions to shareholders, including a crisis test and public announcement of distribution amounts.
The proposed amendment to Slovakia's Commercial Code, effective January 1, 2018, aims to combat tax fraud and enhance the business climate. Key changes include stricter regulations on company mergers to prevent abuse by financially distressed firms, requiring auditor attestation to mitigate risks. The law introduces a new criminal offense for "straw men" and facilitators, carrying up to a 15-year penalty. It also toughens penalties for statutory representatives failing to file for bankruptcy, imposing personal liability for damages and disqualification from directorships. New eligibility criteria for board members will require physical capacity, legal competence, and a clean record. Public sector partners must adhere to a 30-day payment deadline for subcontractors. Company deregistration will need approval from tax and social security authorities. Individuals with tax or social security arrears will be prohibited from forming limited liability companies. Lastly, provisions for other capital funds are clarified, mandating crisis tests and public notices for distributions to shareholders.
2018년 1월 1일부터 시행 예정인 상법 개정안은 사업 환경 개선과 탈세 방지를 목표로 다음과 같은 주요 변경 사항을 포함합니다.
재정난을 겪는 기업의 부실 합병을 막기 위해 감사인의 확인서를 의무화하고, 합병 위험에 대한 감사인의 책임도 강화됩니다. 또한, 사기 행위를 위해 명의만 빌려주는 소위 '바지사장'을 내세우는 행위가 범죄로 규정됩니다. 명의를 빌려주거나 알선하는 행위, 자신의 지분을 넘기는 행위까지 모두 포함하여 관련자에게는 최대 15년의 징역형이 부과될 수 있습니다.
제때 파산 신청을 하지 않은 법정 대표에 대한 처벌도 강화되어, 채권자에게 발생한 손해에 대한 배상 책임을 지게 되며 최장 3년간 임원 자격이 박탈될 수 있습니다. 앞으로 기업 임원은 신체적·법률적 행위 능력을 갖추고 범죄 경력이 없어야 합니다.
공공 계약의 경우, 원청업체는 하청업체에 30일 이내로 대금을 지급해야 하는 기한이 엄격히 적용됩니다. 기업 폐업 시에는 세무 당국과 사회보장기관의 동의가 모두 필요하게 되며, 세금이나 사회보험료를 체납한 사람은 유한책임회사를 설립할 수 없습니다.
마지막으로, 기타 자본금 규정이 명확해집니다. 주주에게 자금을 배분할 경우, 기업의 재무 건전성을 평가하는 위기 테스트를 거쳐야 하며 배분 금액도 의무적으로 공시해야 합니다.
Notice: 07/31/2017 – Important Date for Public Sector Partners
通知:公共部门合作伙伴重要日期 — 2017年7月31日
안내: 2017년 7월 31일 – 공공 부문 파트너 대상 중요 일정
27.06.2017
The Register of Public Sector Partners is an electronic, legally binding list of legal and natural persons engaging in trade with the state above a legally defined threshold. Its primary purpose, as p
The Register of Public Sector Partners is an electronic, legally binding list of legal and natural persons engaging in trade with the state above a legally defined threshold. Its primary purpose, as per Act No. 315/2016 Z. z., is to uncover and verify ultimate beneficial owners, thereby enhancing transparency in state transactions.
Mandatory registration applies to all parties entering into contracts, framework agreements, or concession contracts under public procurement regulations, healthcare providers, assignees of claims against the state, and subcontractors.
Individuals already listed in the Register of Ultimate Beneficial Owners maintained by the Public Procurement Office are automatically considered registered. However, these entities were required to verify their ultimate beneficial owners' identification by July 31, 2017, to remain in the public sector partner register. Failure to comply resulted in automatic removal and the inability to claim any benefits from the public sector.
New registrations are handled by authorized entities like lawyers, notaries, auditors, and banks. The transitional period for registration concluded on July 31, 2017. Failure to register or verify information by this deadline could lead to contract termination or suspension of contractual obligations by the state. Entities previously registered who no longer meet the threshold are automatically removed without penalty. Assistance with registration and related procedures is available from authorized persons.
Using Telecommunication and IT Services Effectively
通信・ITサービスの効果的な活用
有效运用电信与IT服务
정보통신 및 IT 서비스의 효과적인 활용
27.06.2017
HEXECO, s.r.o., one of the first companies in Slovakia, provides advisory services in telecommunications and IT, primarily from an economic perspective. Customers often feel lost regarding what they'r
슬로바키아의 초기 기업 중 하나인 HEXECO, s.r.o.는 통신 및 IT 분야에서 경제적 관점에 초점을 맞춘 컨설팅 서비스를 제공합니다. 고객들은 서비스 제공업체로부터 전담 관리자를 배정받더라도, 자신이 무엇을 위해 비용을 지불하는지 명확히 파악하기 어려워하는 경우가 많습니다. 통신 및 IT 시장은 매우 방대하고 복잡하여 이를 제대로 활용하기 위해서는
HEXECO, s.r.o., one of the first companies in Slovakia, provides advisory services in telecommunications and IT, primarily from an economic perspective. Customers often feel lost regarding what they're paying for, even with dedicated account managers from their service providers. The telecommunications and IT market is vast and complex, requiring specialized expertise for navigation. HEXECO offers audit and management services to provide customers with a clear understanding, overview, and ongoing care for their complex service portfolios.
In a specific case with BDR, spol. s.r.o., HEXECO conducted a free initial analysis revealing a potential 40% cost reduction. The cooperation agreement ensured no increase in current costs, including HEXECO's fee. The added value included meticulous management of the product portfolio post-audit. After signing the agreement, HEXECO implemented changes, resulting in an initial 44% cost reduction, followed by savings of 50-52% in subsequent periods.
HEXECO's service extends beyond the initial audit, encompassing continuous monitoring, proposing new solutions, and monthly reporting. The real annual savings for BDR, spol. s.r.o. amount to several thousand euros. The customer also gained a clear and understandable overview of their IT and telecommunications services. HEXECO's clients include Slovenská autobusová doprava Lučenec, Mesto Zvolen, Nemocnica Zvolen, and others.
HEXECOのサービスは一度きりの診断で終わりではありません。継続的な状況監視、新たなソリューションの提案、月次報告までトータルでサポートします。BDR社では、これにより年間数千ユーロもの経費削減に成功しました。同時に、自社のIT・通信サービスの全体像を明確に把握できるようになりました。主な取引先には、Slovenská autobusová doprava Lučenec社、ズヴォレン市、ズヴォレン病院などがあります。
HEXECO的服务远不止一次性的审计,还包括持续的市场监控、新方案建议以及月度报告。通过合作,BDR公司每年实际节省的费用高达数千欧元,并对自己所使用的IT与电信服务有了清晰、全面的了解。HEXECO的客户还包括Slovenská autobusová doprava Lučenec、Mesto Zvolen、Nemocnica Zvolen等众多机构。
슬로바키아의 초기 기업 중 하나인 HEXECO, s.r.o.는 통신 및 IT 분야에서 경제적 관점에 초점을 맞춘 컨설팅 서비스를 제공합니다. 고객들은 서비스 제공업체로부터 전담 관리자를 배정받더라도, 자신이 무엇을 위해 비용을 지불하는지 명확히 파악하기 어려워하는 경우가 많습니다. 통신 및 IT 시장은 매우 방대하고 복잡하여 이를 제대로 활용하기 위해서는 전문 지식이 필요합니다. HEXECO는 감사 및 관리 서비스를 통해 고객이 복잡한 서비스 포트폴리오를 명확하게 파악하고 지속적으로 관리할 수 있도록 돕습니다.
BDR, spol. s.r.o.의 사례를 보면, HEXECO는 무료 초기 분석을 통해 최대 40%의 비용 절감 가능성을 확인했습니다. 협력 계약 시 HEXECO의 수수료를 포함하여 현재 비용이 증가하지 않도록 보장하였으며, 감사 이후의 꼼꼼한 포트폴리오 관리를 부가 가치로 제공했습니다. 계약 체결 후, HEXECO는 즉시 서비스 변경을 시행하여 초기 44%의 비용을 절감했으며, 이후 지속적으로 50-52%의 절감 효과를 달성했습니다.
HEXECO의 서비스는 최초 감사에서 끝나지 않고, 지속적인 모니터링, 새로운 솔루션 제안, 월간 보고서 제공까지 이어집니다. 이를 통해 BDR, spol. s.r.o.는 연간 수천 유로에 달하는 실질적인 비용을 절감하고 있습니다. 또한, 고객은 자사의 IT 및 통신 서비스에 대한 명확하고 이해하기 쉬운 현황을 파악하게 되었습니다. HEXECO의 주요 고객사로는 Slovenská autobusová doprava Lučenec, Mesto Zvolen, Nemocnica Zvolen 등이 있습니다.
Slovakia: Tax implications of operating an e-shop in relation to VAT
スロバキア:ECサイト運営に関する付加価値税(VAT)の税務
斯洛伐克:网店运营的增值税涉税影响
슬로바키아: 전자상거래 운영 관련 부가가치세(VAT) 세무상 고려사항
01.06.2017
The text discusses VAT registration and obligations for e-shop operators in Slovakia, both domestic and foreign. A Slovak e-shop must register for VAT if its turnover exceeds €49,790 in 12 months. Reg
슬로바키아에서 온라인 쇼핑몰을 운영하는 사업자의 부가가치세(VAT) 등록 의무는 국내외 사업자에 따라 다릅니다.
슬로바키아 현지 사업자는 12개월간 매출이 49,790유로를 초과하면 부가세 사업자로 등록해야 합니다. 이 외에도 해외에서 서비스를 공급받거나, 다른 EU 국가에서 연간 14,000유로를 초과하는 상품을 구매하는 경우, 또는 구매자에게 납세 의
The text discusses VAT registration and obligations for e-shop operators in Slovakia, both domestic and foreign. A Slovak e-shop must register for VAT if its turnover exceeds €49,790 in 12 months. Registration is also required before receiving services from foreign entities, purchasing goods from other EU states exceeding €14,000 annually, or supplying services to other EU states where the recipient pays the tax. Foreign e-shops must register in Slovakia if their mail-order sales exceed €35,000 annually.
The text also covers tax returns, control reports, summary reports, and the point at which tax liability arises. For domestic sales, this is typically the day of delivery or payment. It explains that foreign e-shops selling goods subject to excise duty to individuals for personal consumption must register regardless of sales limits.
Finally, it addresses the VAT implications of providing electronic services to non-taxable individuals and introduces the Mini One-Stop Shop (MOSS) scheme, which simplifies VAT obligations for suppliers of electronic services by allowing them to declare and pay VAT in a single member state.
슬로바키아에서 온라인 쇼핑몰을 운영하는 사업자의 부가가치세(VAT) 등록 의무는 국내외 사업자에 따라 다릅니다.
슬로바키아 현지 사업자는 12개월간 매출이 49,790유로를 초과하면 부가세 사업자로 등록해야 합니다. 이 외에도 해외에서 서비스를 공급받거나, 다른 EU 국가에서 연간 14,000유로를 초과하는 상품을 구매하는 경우, 또는 구매자에게 납세 의무가 이전되는 서비스를 다른 EU 국가에 제공하는 경우에도 사전에 등록해야 합니다.
해외 사업자가 슬로바키아에 통신 판매를 통해 상품을 판매하는 경우, 연 매출이 35,000유로를 초과하면 슬로바키아에 부가세 사업자로 등록해야 합니다. 특히, 소비세가 부과되는 상품을 개인 소비 목적으로 판매하는 해외 사업자는 매출액 한도와 관계없이 반드시 등록해야 합니다.
부가세 납세 의무는 국내 판매의 경우 일반적으로 상품 배송일 또는 대금 결제일에 발생하며, 이와 관련하여 부가세 신고서, 관리 보고서, 통합 보고서 등을 제출해야 합니다.
마지막으로, 비사업자 개인에게 전자 서비스를 제공하는 경우에는 MOSS(Mini One-Stop Shop) 제도를 이용할 수 있습니다. 이 제도는 전자 서비스 공급자가 EU 회원국 중 한 곳에서만 부가세를 신고하고 납부할 수 있도록 하여 관련 의무를 간소화합니다.
Czech Republic: Tax Implications of Operating an E-shop in Relation to VAT
チェコ共和国:ECサイト運営におけるVAT(付加価値税)に関する税務上の留意点
捷克:电商运营的增值税税务影响
체코: 전자상거래 운영 관련 부가가치세(VAT) 과세 문제
01.06.2017
Selling goods through an e-shop is a popular form of commerce with no special VAT adjustments. However, certain specifics must be considered. Here’s an overview of three key VAT-related areas for oper
온라인 쇼핑몰을 통한 상품 판매는 특별한 부가가치세(VAT) 조정이 필요 없는 보편적인 상거래 방식입니다. 하지만 몇 가지 특정 사안을 고려해야 합니다. 체코에서 온라인 쇼핑몰을 운영할 때 알아두어야 할 세 가지 주요 부가세 관련 사항은 다음과 같습니다.
첫째, 부가세 등록과 관련 제도입니다. 체코에 기반을 둔 온라인 쇼핑몰이 체코 및 EU 내의 비사업자
Selling goods through an e-shop is a popular form of commerce with no special VAT adjustments. However, certain specifics must be considered. Here’s an overview of three key VAT-related areas for operating an e-shop in the Czech Republic.
First, VAT registration and regime. Czech-based e-shops selling to non-businesses in the Czech Republic and EU must consider VAT registration based on their turnover. Registration is mandatory when exceeding CZK 1 million in domestic supplies within 12 months, or voluntary. After registering, the e-shop is obligated to pay VAT on domestic sales and can deduct VAT on purchases. "Identification for VAT" is mandatory if purchases from EU exceed CZK 326,000 or if service received from EU suppliers. Identified persons must pay VAT on EU purchases and received services, but they cannot deduct VAT.
Second, the place of taxable supply determines where VAT is applied. Sales within the Czech Republic are subject to Czech VAT rules. For goods sent to non-business EU customers, the "dispatch of goods to the EU" regime applies. If goods are sent to EU countries, the limit of sales is tracked for each country of delivery and if such a limit is exceeded registration for VAT is required in such country.
Third, electronic sales records (EET) are mandatory in the Czech Republic since March 1, 2017, for all cash and card payments, or other cashless transfers. Czech e-shops must record all sales, including international transactions. Sales should be registered no later than when the transaction is completed, but earlier registration is allowed. Even sales returns must be reported according to EET. Due to cross-border e-commerce, it is recommended to follow the legal regulations in countries which the e-shop usually conducts trade with.
온라인 쇼핑몰을 통한 상품 판매는 특별한 부가가치세(VAT) 조정이 필요 없는 보편적인 상거래 방식입니다. 하지만 몇 가지 특정 사안을 고려해야 합니다. 체코에서 온라인 쇼핑몰을 운영할 때 알아두어야 할 세 가지 주요 부가세 관련 사항은 다음과 같습니다.
첫째, 부가세 등록과 관련 제도입니다. 체코에 기반을 둔 온라인 쇼핑몰이 체코 및 EU 내의 비사업자(개인 소비자)에게 상품을 판매하는 경우, 매출액에 따라 부가세 등록을 고려해야 합니다. 최근 12개월간 국내 공급액이 100만 코루나(CZK)를 초과하면 등록이 의무이며, 그 이전이라도 자발적인 등록이 가능합니다. 등록 후에는 국내 판매에 대해 부가세를 납부할 의무가 생기며, 매입 부가세는 공제받을 수 있습니다. 한편, EU 국가로부터 32만 6천 코루나를 초과하는 상품을 구매하거나 서비스를 제공받는 경우 '부가세 식별자(Identified Person)' 등록이 의무입니다. 이 경우, EU에서 구매한 상품 및 서비스에 대해 부가세를 납부해야 하지만, 매입 부가세는 공제받을 수 없습니다.
둘째, 과세 기준지(Place of Taxable Supply)에 따라 부가세 적용 국가가 결정됩니다. 체코 내에서 이루어지는 판매는 체코 부가세 규정의 적용을 받습니다. EU 내 비사업자 고객에게 상품을 발송하는 경우에는 'EU로의 상품 발송' 규정이 적용됩니다. 각 EU 회원국으로 발송되는 상품 판매액을 추적하여, 특정 국가의 판매 한도를 초과하면 해당 국가에 부가세 사업자로 등록해야 합니다.
셋째, 전자 매출 기록(EET) 제도입니다. 2017년 3월 1일부터 체코에서는 모든 현금, 카드 결제 및 기타 비현금 송금을 통한 거래에 대해 전자 매출 기록이 의무화되었습니다. 체코의 온라인 쇼핑몰은 해외 거래를 포함한 모든 매출을 기록해야 합니다. 매출 기록은 거래가 완료되는 시점까지 등록해야 하지만, 조기 등록도 허용됩니다. 반품된 내역 또한 EET에 따라 신고해야 합니다. 국경을 넘나드는 전자상거래의 특성상, 주로 거래하는 국가의 법규를 따르는 것이 권장됩니다.
Austria: Electronically Provided Services – Facilitating Compliance with Tax Obligations
オーストリア:電子提供サービス ― 納税義務の円滑化
오스트리아: 전자 제공 용역에 대한 납세 편의 제고
01.06.2017
If a provider of broadcasting, telecommunications, and electronically supplied services registers for the Mini-One-Stop-Shop (MOSS), they avoid the cumbersome requirement of registering for VAT in eac
방송, 통신, 전자 서비스 제공업체가 MOSS(Mini-One-Stop-Shop) 제도에 등록하면, 최종 소비자가 있는 모든 EU 회원국에 각각 부가가치세(VAT) 사업자 등록을 해야 하는 번거로운 절차를 피할 수 있습니다.
2015년 1월 1일부터 EU 내의 비사업자 고객에게 제공되는 통신, 방송, 전자 서비스에 대한 부가가치세는 소비자가 거주하는 국가
If a provider of broadcasting, telecommunications, and electronically supplied services registers for the Mini-One-Stop-Shop (MOSS), they avoid the cumbersome requirement of registering for VAT in each EU member state where their end customers are located.
Since January 1, 2015, VAT on telecommunications, broadcasting, and electronic services supplied to non-business customers within the EU is taxed in the member state where the customer is established. This legislative change aimed for fairer tax distribution by taxing at the point of consumption and removing competitive advantages previously held by providers in EU member states with lower VAT rates.
MOSS allows service providers to register for VAT in only one member state, declaring and paying VAT for all services within this special scheme through that state's tax portal, instead of registering in every member state where services are provided. However, if a provider offers other services besides those covered by MOSS, they must register for VAT in the respective member state.
In Austria, registration via FinanzOnline requires a valid VAT ID, timely application, and no existing registration block. Austrian-based providers, or those from third countries with a permanent establishment in Austria, can register. Providers without a presence in the EU can also choose Austria as their member state of identification. The tax period is a calendar quarter, and returns must be filed by the 20th of the following month.
MOSS facilitates the declaration and payment of VAT for services provided to non-business customers in member states where the provider lacks a business or establishment. The VAT return includes the VAT ID, total value of services provided under MOSS, VAT rate, and the tax due, broken down by member state, all in Euros. A nil return is required even if no services were provided during the tax period. Note that if services are sold through a platform (e.g., Appstore) where the platform operator is considered the service provider to the end customer, the operator is liable for VAT.
방송, 통신, 전자 서비스 제공업체가 MOSS(Mini-One-Stop-Shop) 제도에 등록하면, 최종 소비자가 있는 모든 EU 회원국에 각각 부가가치세(VAT) 사업자 등록을 해야 하는 번거로운 절차를 피할 수 있습니다.
2015년 1월 1일부터 EU 내의 비사업자 고객에게 제공되는 통신, 방송, 전자 서비스에 대한 부가가치세는 소비자가 거주하는 국가에서 과세됩니다. 이러한 법 개정은 소비가 이루어지는 곳에서 세금을 부과하여 공정한 세금 분배를 실현하고, 낮은 부가세율을 가진 특정 EU 국가의 사업자들이 누리던 경쟁상 우위를 없애기 위해 시행되었습니다.
MOSS는 서비스 제공업체가 사업을 하는 모든 회원국에 각각 등록하는 대신, 단 하나의 EU 회원국에만 부가세 사업자로 등록할 수 있게 해주는 제도입니다. 이 제도를 통해 사업자는 해당 국가의 세무 시스템을 통해 다른 모든 EU 회원국에서의 서비스 매출에 대한 부가세를 한 번에 신고하고 납부할 수 있습니다. 단, MOSS 적용 대상이 아닌 다른 서비스를 제공하는 경우에는 해당 서비스가 제공되는 국가에 별도로 부가세 사업자 등록을 해야 합니다.
오스트리아의 경우, 온라인 세무 시스템(FinanzOnline)을 통해 MOSS에 등록하려면 유효한 부가세 등록번호가 필요하며, 기한 내에 신청하고 등록에 다른 결격 사유가 없어야 합니다. 오스트리아에 기반을 둔 사업자나, 오스트리아에 고정 사업장을 둔 EU 역외 국가 사업자가 등록할 수 있습니다. EU 내에 사업장이 없는 사업자도 등록 국가로 오스트리아를 선택할 수 있습니다. 과세 기간은 분기이며, 부가세 신고는 해당 분기가 끝난 다음 달 20일까지 완료해야 합니다.
MOSS는 사업자가 물리적인 사업장을 두지 않은 다른 EU 회원국의 비사업자 고객에게 제공한 서비스에 대한 부가세 신고 및 납부를 간소화합니다. 부가세 신고서에는 사업자 등록번호, MOSS를 통해 제공된 서비스의 총액, 부가세율, 그리고 납부해야 할 세액이 각 회원국별로 구분되어 유로화로 기재됩니다. 해당 분기에 제공한 서비스가 없더라도 반드시 무실적 신고를 해야 합니다. 참고로, 앱스토어와 같은 플랫폼을 통해 서비스를 판매하는 경우, 플랫폼 운영자가 최종 소비자에게 직접 서비스를 제공한 것으로 간주되어 부가세 납부 의무를 지게 됩니다.
Germany: Risk Cases and Special Features in Intra-Community Dispatch of Goods
ドイツ:EU域内物品供給におけるリスク事例と特有の留意点
독일: EU 역내 재화 공급의 위험 사례 및 특이사항
01.06.2017
More and more entrepreneurs are leveraging online opportunities to increase revenue through their own e-shops. If this leads to sales and goods are shipped to other EU member states, certain peculiari
온라인 쇼핑몰을 통해 수익을 늘리려는 사업자들이 점점 더 많아지고 있습니다. 이 과정에서 상품이 다른 EU 회원국으로 판매 및 배송될 경우, 반드시 알아야 할 특별한 규정들이 있습니다. 국내외 부가가치세 신고를 잘못하면 심각한 형사 및 세무상 불이익을 받을 수 있습니다.
원칙적으로 세금은 상품 배송이 시작되는 국가를 기준으로 부과됩니다(원산지국 과세 원칙
More and more entrepreneurs are leveraging online opportunities to increase revenue through their own e-shops. If this leads to sales and goods are shipped to other EU member states, certain peculiarities must be observed. The risk of filing incorrect VAT returns and reports, both domestically and abroad, can ultimately lead to significant negative criminal and tax consequences.
In principle, the taxation principle based on the country of origin applies (VAT is declared where the shipment begins), so a German distributor declares their deliveries with German VAT. However, if goods are supplied to a specific group of customers in other EU member states, the basic rule of taxation according to the country of origin does not apply. In that case, the taxation principle based on the country of destination applies, and the German distributor declares the goods with the VAT of the respective EU country and remits the tax in that member state.
The regulation for mail-order sales is intended to prevent unequal competitive conditions within the European Union. If the country-of-origin principle applied without limitation, consumers would be incentivized to order goods in EU countries with the lowest VAT rates. Equal competitive conditions and VAT revenues within the European Union would be at risk.
To determine whether the basic rule for mail-order sales applies, domestic distributors must know the customer type and destination country for each transaction made through their sales platform. Their merchandise management systems and/or sales platforms should allow for the input of this information.
If the customer is a business located in another member state receiving the delivery for their business, it is generally an intra-community tax-exempt supply. The necessary documentation can be fulfilled by providing the customer's VAT registration number in the online order. The German distributor then issues a tax invoice without VAT and includes the taxable supply in its summary report.
The basic rule for mail-order sales can only be applied to a specific group of businesses in the EU if their received deliveries for one year do not exceed a certain turnover threshold, the application of the turnover threshold has not been waived, and the German distributor's deliveries to that EU state for one year have not exceeded the mail-order sales threshold.
For deliveries to private individuals in another EU member state, the VAT that the German mail-order company must declare and remit depends on the extent of deliveries to that country of destination within one year. If the goods are initially declared with German VAT, the first delivery exceeding the mail-order sales threshold in the respective EU state leads to declaration with the VAT applicable in that EU state. All subsequent supplies are then taxed at the VAT rate applicable in the country of destination. If the distributor fails to do so, there is a risk of having to pay VAT multiple times.
The VAT threshold and the mail-order sales threshold values are not uniform across Europe and vary considerably in some cases.
Businesses can voluntarily opt to tax sales based on the destination of the goods, even if the sales threshold hasn't been met, but must continue this practice until the end of the calendar year following the one in which they made the decision.
**Summary:**
The increasing use of e-shops by entrepreneurs necessitates careful attention to VAT regulations when shipping goods to other EU member states. The principle of taxation shifts from the country of origin to the country of destination once specific sales thresholds are met for particular customer groups or countries. Understanding customer types and destination countries is critical for determining VAT obligations. Failure to comply with these regulations can result in penalties and tax liabilities. Special rules apply to businesses with sales below certain turnover limits and to private individuals. The VAT and mail-order thresholds vary across EU member states, requiring careful monitoring and currency exchange rate tracking. Businesses can also choose to apply destination-based taxation voluntarily, even if thresholds aren't met, but must continue doing so for a minimum duration.
온라인 쇼핑몰을 통해 수익을 늘리려는 사업자들이 점점 더 많아지고 있습니다. 이 과정에서 상품이 다른 EU 회원국으로 판매 및 배송될 경우, 반드시 알아야 할 특별한 규정들이 있습니다. 국내외 부가가치세 신고를 잘못하면 심각한 형사 및 세무상 불이익을 받을 수 있습니다.
원칙적으로 세금은 상품 배송이 시작되는 국가를 기준으로 부과됩니다(원산지국 과세 원칙). 따라서 독일 판매자는 판매된 상품에 대해 독일 부가가치세를 신고합니다. 하지만 상품이 다른 EU 회원국의 특정 고객에게 판매될 경우에는 이 원칙이 적용되지 않습니다. 대신, 상품이 도착하는 국가의 법에 따라 세금이 부과되며(목적지국 과세 원칙), 독일 판매자는 해당 EU 국가의 부가가치세를 신고하고 납부해야 합니다.
이러한 원격 판매 규정은 EU 내의 불공정한 경쟁을 막기 위해 존재합니다. 만약 원산지국 과세 원칙만 고수한다면, 소비자들은 부가세율이 가장 낮은 국가에서만 상품을 구매하려 할 것입니다. 이는 EU 내의 공정한 경쟁 환경을 해치고 각국의 부가세 수입을 위협할 수 있습니다.
원격 판매에 대한 기본 원칙이 적용되는지 판단하기 위해, 국내 판매자는 자신의 판매 플랫폼을 통해 이루어진 모든 거래의 고객 유형과 도착 국가를 파악해야 합니다. 이를 위해 상품 관리 시스템이나 판매 플랫폼에 해당 정보를 입력할 수 있는 기능이 필요합니다.
만약 고객이 다른 회원국에 위치한 사업자이며 사업 목적으로 상품을 공급받는 경우, 이는 일반적으로 EU 역내 면세 공급에 해당합니다. 고객이 온라인 주문 시 부가가치세 등록번호를 제공하면 필요한 서류 요건이 충족됩니다. 이 경우 독일 판매자는 부가세가 없는 세금계산서를 발행하고, 과세 대상 공급 내역을 총괄 보고서에 포함시킵니다.
원격 판매에 대한 기본 규칙은 EU 내 특정 사업자 그룹에만 적용될 수 있는데, 이는 연간 수령액이 특정 매출 한도를 초과하지 않고, 매출 한도 적용을 포기하지 않았으며, 독일 판매자의 해당 EU 국가로의 연간 배송액이 원격 판매 한도를 초과하지 않은 경우에 한합니다.
다른 EU 회원국의 개인 소비자에게 상품을 판매할 경우, 독일 판매자가 신고하고 납부해야 할 부가세는 해당 도착 국가로의 연간 판매 규모에 따라 달라집니다. 처음에는 독일 부가세로 신고하더라도, 해당 EU 국가의 원격 판매 한도액을 초과하는 첫 번째 판매부터는 그 나라의 부가세율을 적용하여 신고해야 합니다. 이후의 모든 판매 역시 도착 국가의 부가세율로 과세됩니다. 만약 판매자가 이를 준수하지 않으면, 부가세를 이중으로 납부해야 할 위험이 있습니다.
부가세 한도액과 원격 판매 한도액은 유럽 전역에서 통일되어 있지 않으며, 국가별로 상당한 차이를 보입니다.
사업자는 판매 한도액을 충족하지 않더라도 자발적으로 상품 도착지를 기준으로 세금을 납부하는 방식을 선택할 수 있습니다. 다만 이 방식을 선택하면, 결정을 내린 해의 다음 연도 말까지는 이 방식을 유지해야 합니다.
**요약:**
온라인 쇼핑몰을 활용하는 사업자가 다른 EU 회원국으로 상품을 배송할 때는 부가가치세 규정에 세심한 주의가 필요합니다. 특정 고객 그룹이나 국가에 대한 판매액이 정해진 기준을 넘으면, 과세 원칙은 상품을 보내는 국가(원산지국) 기준에서 받는 국가(목적지국) 기준으로 변경됩니다. 따라서 부가세 납부 의무를 정확히 판단하기 위해서는 고객의 유형과 상품 도착 국가를 파악하는 것이 매우 중요합니다. 이러한 규정을 준수하지 않을 경우 벌금이나 추가적인 세금 부담이 발생할 수 있습니다. 특정 매출 한도 미만의 사업자나 개인 소비자에게는 별도의 규칙이 적용됩니다. 부가세 및 원격 판매 한도액은 EU 회원국마다 다르므로, 지속적인 확인과 환율 변동 추적이 필요합니다. 사업자는 판매 한도액을 넘지 않더라도 자발적으로 도착지 기준 과세 방식을 선택할 수 있으나, 일단 선택하면 최소 일정 기간 동안은 이를 유지해야 합니다.
ATTENTION for group members with a consolidated turnover exceeding EUR 750 million annually
연간 연결 매출액 7억 5천만 유로 초과 그룹 회원사 대상 안내
29.03.2017
On January 28, 2016, Slovakia joined thirty other countries in signing the Country-by-Country (CbC) Reporting agreement, a key element of the OECD's action plan on transfer pricing. CbC reporting appl
2016년 1월 28일, 슬로바키아는 다국적 기업의 조세 회피를 막기 위한 OECD의 핵심 방안인 '국가별 보고서(CbC) 협정'에 30여 개국과 함께 참여했습니다.
이 제도는 연간 연결 매출이 7억 5천만 유로를 초과하는 대규모 다국적 기업에 적용됩니다. 해당 기업들은 매년 각 국가의 과세당국에 소득, 이익, 자본, 직원 수, 자산, 납부 세금 등 주요
On January 28, 2016, Slovakia joined thirty other countries in signing the Country-by-Country (CbC) Reporting agreement, a key element of the OECD's action plan on transfer pricing. CbC reporting applies to large multinational groups with consolidated annual revenue exceeding €750 million. These groups are required to annually report information to the relevant financial authorities in each member state. These authorities will then automatically exchange data on the global allocation of income, profits, capital, employees, assets, and taxes paid. The aim of CbC reporting is to help tax authorities detect inaccuracies in multinational companies' pricing and associated tax evasion.
The Slovakian Parliament approved the law on international assistance and cooperation in tax administration on February 1, 2017, effective from March 1, 2017, implying the rules apply to the 2016 tax year. This regulation affects every member of a multinational group, including branches and permanent establishments, with consolidated revenues surpassing €750 million. This includes an obligation to report the identity of the reporting entity. The deadline for submitting the CbC report is 12 months from the last day of the multinational group's reporting financial year, first applicable for the financial year 2016 for parent entities. The deadline for submitting the notification is the last day for filing the income tax return for the reporting financial year. Failure to submit the CbC report can result in a fine of up to €10,000, and failure to comply with the notification obligation can incur a fine of up to €3,000.
2016년 1월 28일, 슬로바키아는 다국적 기업의 조세 회피를 막기 위한 OECD의 핵심 방안인 '국가별 보고서(CbC) 협정'에 30여 개국과 함께 참여했습니다.
이 제도는 연간 연결 매출이 7억 5천만 유로를 초과하는 대규모 다국적 기업에 적용됩니다. 해당 기업들은 매년 각 국가의 과세당국에 소득, 이익, 자본, 직원 수, 자산, 납부 세금 등 주요 경영 정보를 담은 보고서를 제출해야 합니다. 각국 과세당국은 이 정보를 자동으로 교환하여, 다국적 기업이 부당한 가격 책정으로 세금을 회피하는 것을 방지하는 데 활용합니다.
슬로바키아 의회는 2017년 2월 1일 관련 법안을 승인했습니다. 이 법은 2017년 3월 1일부터 시행되었으며, 2016년 사업연도부터 소급 적용됩니다. 이에 따라 연간 연결 매출이 7억 5천만 유로 이상인 다국적 기업에 속한 모든 구성원(해외 지점 등 포함)은 이 규정을 따라야 하며, 그룹 내에서 누가 보고서를 제출하는지 명시해야 할 의무가 있습니다.
국가별 보고서 제출 기한은 해당 기업의 회계연도 마지막 날로부터 12개월 이내이며, 최초 적용 대상은 모기업의 2016년 회계연도입니다. 또한, 보고 의무가 있음을 알리는 사전 통지는 법인세 신고 마감일까지 완료해야 합니다. 만약 국가별 보고서를 기한 내에 제출하지 않으면 최대 10,000유로의 과태료가, 사전 통지 의무를 위반하면 최대 3,000유로의 과태료가 부과될 수 있습니다.
The amendment to the Income Tax Act, effective from January 1, 2017, broadens the definition of "rent." The payment condition outlined in § 17 para. 19 b) now applies not only to the rental of movable
2017년 1월 1일부터 시행된 소득세법 개정안에 따라 '임대료'의 정의가 확대되었습니다. 이제 기존의 동산 및 부동산 임대뿐만 아니라 산업 재산권, 컴퓨터 프로그램(소프트웨어), 디자인 및 모델, 설계, 노하우와 같은 경제적 가치가 있는 지식, 저작권 및 관련 권리의 사용권을 부여하고 받는 대가도 임대료에 포함됩니다.
이 변경 사항은 2016년도 귀속
The amendment to the Income Tax Act, effective from January 1, 2017, broadens the definition of "rent." The payment condition outlined in § 17 para. 19 b) now applies not only to the rental of movable and immovable property but also to payments for the granting of the right to use, or for the use of: industrial property, computer programs (software), designs and models, plans, production-technical and other economically usable knowledge (know-how), and payments for the granting of the right to use copyright or rights related to copyright.
This change is applicable when filing tax returns after December 31, 2016, including the tax return for the 2016 tax period. The Financial Administration emphasizes that income from rent is assessed for the lessor, and related expenses are also assessed for the lessee. If payments in the lease agreement are agreed upon separately for rent and for services related to rent, including utilities, and the lessee pays them to the lessor, all these payments are considered rental income for the lessor. On the lessee's side, all these expenses are considered part of the tax base only after payment, even if the lessee records them on other cost accounts.
2017년 1월 1일부터 시행된 소득세법 개정안에 따라 '임대료'의 정의가 확대되었습니다. 이제 기존의 동산 및 부동산 임대뿐만 아니라 산업 재산권, 컴퓨터 프로그램(소프트웨어), 디자인 및 모델, 설계, 노하우와 같은 경제적 가치가 있는 지식, 저작권 및 관련 권리의 사용권을 부여하고 받는 대가도 임대료에 포함됩니다.
이 변경 사항은 2016년도 귀속 소득에 대한 세금 신고를 포함하여 2016년 12월 31일 이후의 모든 세금 신고에 적용됩니다. 국세청은 임대료 수입은 임대인에게, 관련 비용은 임차인에게 각각 산정됨을 강조합니다. 만약 임대차 계약서에 임대료와 공과금을 포함한 관련 서비스 비용이 별도로 명시되어 있고 임차인이 이를 임대인에게 모두 지급한다면, 이 모든 금액은 임대인의 임대 소득으로 간주됩니다. 반면, 임차인의 입장에서는 이 모든 비용을 장부상 다른 계정으로 기록했더라도 실제로 지급을 완료한 시점에만 세무상 비용으로 인정받을 수 있습니다.
Changes are coming to the FATCA (Foreign Accounts Tax Compliance Act) regulations, a US law designed to prevent tax evasion by US citizens and residents using foreign financial accounts.
Changes are coming to the FATCA (Foreign Accounts Tax Compliance Act) regulations, a US law designed to prevent tax evasion by US citizens and residents using foreign financial accounts.
Since 2015, FATCA has ensured the automatic exchange of financial account information between the Slovak Financial Administration and the US tax authorities for tax administration purposes. It requires financial institutions (banks, insurance companies, and mutual funds) to provide the Slovak Financial Administration with information on the financial accounts of US citizens and residents by June 30, 2017, for the year 2016. The Slovak Financial Administration then transmits this information to the US tax authorities by September 30, 2017.
The change this year concerns the submission of information to the Slovak Financial Administration. From January, a new form will be exclusively used for new submissions in 2017 and for correcting incorrect submissions from 2016. The current form will become invalid, and new elements will be added to the updated form.
Failure to comply with FATCA obligations under Act No. 359/2015 Coll. can result in a fine of up to €10,000 for the financial institution.
Summary:
The FATCA regulations, aimed at preventing US tax evasion through foreign accounts, are undergoing changes. Since 2015, FATCA has facilitated the automatic exchange of financial information between Slovak and US tax authorities. Financial institutions must report US citizens' and residents' financial accounts to the Slovak Financial Administration, which then relays the data to the US. A key change involves a mandatory new form for all 2017 submissions and corrections to 2016 filings, rendering the old form obsolete. Non-compliance can lead to fines up to €10,000. This update ensures more accurate and standardized reporting of financial data to combat tax evasion and maintain international cooperation in tax administration. The new form contains additional requirements to enhance the quality of reported information and reduce errors.
법인세법 개정으로 법인세율이 22%에서 21%로 인하되었습니다. 이에 따라 2017년 1월 1일부터 2016년도 법인세 신고기한(2017년 3월 31일 또는 연장된 기한)까지 납부하는 중간예납세액 계산 시 조정이 필요합니다. 관련 법규에 따라, 중간예납세액은 납부 대상이 되는 과세기간(2017년)에 적용되는 세율
Attention legal entities paying income tax advances!
Due to an amendment in the income tax law reducing the corporate income tax rate from 22% to 21%, adjustments are needed in calculating tax advances paid from January 1, 2017, until the deadline for filing the 2016 tax return (March 31, 2017, or extended deadline). The law mandates using the tax rate applicable in the tax period for which the advances are paid (21% for 2017).
The calculation of tax advances is based on the last known tax liability from the 2015 tax period. Therefore, the tax amount from line 1110 of the 2015 tax return needs to be recalculated using the current 21% tax rate for 2017. This recalculated amount should then be divided into 4 or 12 equal installments, depending on whether you are a quarterly or monthly payer, respectively. This determines the amount of tax advances you will pay at the current tax rate until filing the 2016 tax return, with payments due at the end of the corresponding month or quarter. According to the guide for filling out the corporate income tax return, the 21% tax rate should be used for calculating tax advances for the tax period starting January 1, 2017.
**Summary:**
Legal entities paying income tax advances must adjust their calculations due to the reduction in the corporate income tax rate from 22% to 21%. For advances paid from January 1, 2017, until the 2016 tax return deadline, the tax amount from line 1110 of the 2015 return must be recalculated using the 21% rate. The resulting amount is then divided into quarterly or monthly installments based on the payment frequency. These adjusted advance payments are due until the 2016 tax return is filed. The new tax rate should be taken into account when calculating tax advances. The calculation formula provided in the corporate income tax return guide should be followed, utilizing the new 21% tax rate. Failure to update calculations may result in incorrect tax advance payments.
법인세법 개정으로 법인세율이 22%에서 21%로 인하되었습니다. 이에 따라 2017년 1월 1일부터 2016년도 법인세 신고기한(2017년 3월 31일 또는 연장된 기한)까지 납부하는 중간예납세액 계산 시 조정이 필요합니다. 관련 법규에 따라, 중간예납세액은 납부 대상이 되는 과세기간(2017년)에 적용되는 세율, 즉 21%를 사용하여 산정해야 합니다.
중간예납세액은 가장 최근에 확정된 2015년도 법인세 납부 실적을 기준으로 계산됩니다. 따라서 2015년도 법인세 신고서상 과세표준에 변경된 2017년 세율인 21%를 적용하여 세액을 다시 계산해야 합니다. 이렇게 재산정된 총 세액을 분기 또는 월별 납부 횟수(4회 또는 12회)에 따라 균등하게 나누어 2016년도 법인세 신고 전까지 납부하시면 됩니다. 법인세 신고 안내서에 따르면, 2017년 1월 1일부터 시작되는 과세기간의 중간예납세액 계산 시에는 21% 세율을 사용해야 합니다.
**요약**
법인세율이 22%에서 21%로 인하됨에 따라, 법인세 중간예납 의무가 있는 법인은 세액 계산 방식을 조정해야 합니다. 2017년 1월 1일부터 2016년도 법인세 신고기한까지의 중간예납세액은 2015년도 신고서의 과세표준에 새로운 세율인 21%를 적용하여 재산정해야 합니다. 이 재산정된 금액을 기준으로 분기 또는 월별 납부액을 정하여 2016년도 법인세 신고 전까지 납부해야 합니다. 변경된 세율을 반영하여 정확한 중간예납세액을 납부하시기 바랍니다.
The Slovak Republic has updated its Tax Administration Act (Law No. 563/2009) with effect from January 1, 2017, to combat tax fraud. Key changes include the introduction of a "summary assessment order
슬로바키아 공화국은 탈세를 방지하기 위해 2017년 1월 1일부터 세무관리법을 개정했습니다. 주요 변경 사항으로, 납세자가 세금 신고서의 문제점을 수정하지 않고 탈루 증거가 충분할 경우 세무 당국이 '약식 부과 명령'을 통해 즉시 세금을 결정할 수 있는 제도가 도입되었습니다. 이 명령에 대해서는 15일 이내에 이의를 제기할 수 있지만, 최종 검토는 법원만이
The Slovak Republic has updated its Tax Administration Act (Law No. 563/2009) with effect from January 1, 2017, to combat tax fraud. Key changes include the introduction of a "summary assessment order" for cases where tax returns have deficiencies not yet addressed by the taxpayer, and where sufficient evidence exists. This order can be appealed within 15 days, but only the court can review it.
The act also strengthens provisional measures. Tax administrators can now require taxpayers to deposit funds or refrain from disposing of specified assets if there's a risk of non-payment or difficulty in tax recovery. Failure to comply can lead to immediate enforceability and become an enforcement title, with funds being blocked directly by banks.
Furthermore, deficiencies in tax returns are now categorized based on their impact on the tax amount. Those affecting tax liability trigger a tax audit or a summary assessment, while minor errors will be corrected by the tax office ex officio after a notification period. The requirement for collateral for tax payment deferrals or installments has been raised to EUR 3,000.
The law also streamlines the summoning process by allowing tax administrators to request police assistance for compulsory appearance if repeated summons are ignored. Finally, "qualified electronic signatures" now replace "guaranteed electronic signatures" for electronic submissions.
슬로바키아 공화국은 탈세를 방지하기 위해 2017년 1월 1일부터 세무관리법을 개정했습니다. 주요 변경 사항으로, 납세자가 세금 신고서의 문제점을 수정하지 않고 탈루 증거가 충분할 경우 세무 당국이 '약식 부과 명령'을 통해 즉시 세금을 결정할 수 있는 제도가 도입되었습니다. 이 명령에 대해서는 15일 이내에 이의를 제기할 수 있지만, 최종 검토는 법원만이 할 수 있습니다.
또한 임시 조치도 강화되었습니다. 세금 미납이나 징수가 어려울 것으로 예상되면, 세무 당국은 납세자에게 자금 공탁을 명령하거나 특정 자산의 처분을 금지할 수 있습니다. 납세자가 이를 따르지 않을 경우, 해당 조치는 즉시 강제 집행 효력을 갖게 되어 은행을 통해 직접 자금이 동결될 수 있습니다.
세금 신고서의 오류는 세액에 미치는 영향에 따라 다르게 처리됩니다. 세금 납부액에 직접적인 영향을 주는 중대한 오류는 세무조사나 약식 부과로 이어지며, 경미한 실수는 세무서가 납세자에게 통지한 후 직권으로 수정합니다. 이와 함께, 세금 납부를 연기하거나 분할 납부 시 필요한 담보 설정 기준 금액이 3,000유로로 상향 조정되었습니다.
소환 절차도 간소화되어, 납세자가 반복적인 출석 요구에 응하지 않으면 세무 당국이 경찰에 협조를 요청하여 강제로 출석시킬 수 있습니다. 마지막으로, 전자 문서 제출 시 필요한 전자서명이 기존의 '보증 전자서명'에서 '적격 전자서명'으로 변경되었습니다.
2016년부터 변경된 저작자 소득 과세 방식에 따라, 소득 지급자는 2017년 1월 15일까지 세무 당국에 관련 내용을 신고해야 합니다.
2016년 1월 1일부터 저작권법에 따른 저작물 창작 및 예술 공연 등으로 발생하는 저작자 소득은 원칙적으로 원천징수 방식으로 과세됩니다.
하지만 저작자와 소득 지급자가 사전
**NOTIFICATION OBLIGATION – Income of Authors:**
This notice concerns the notification obligation for taxpayers to the tax administrator by January 15, 2017, regarding the change in taxation of authors' income in 2016.
Effective January 1, 2016, income of authors under the Copyright Act from the creation of a work and artistic performance according to § 6 par. 2 letter a) of the Income Tax Act (ZDP), as well as income from the use of a work and artistic performance according to § 6 par. 4 ZDP, are primarily taxed with withholding tax, or in two ways depending on the author's decision, based on whether the author prefers a royalty taxed with withholding tax or untaxed, provided they agree in writing with the payer in advance about not applying the withholding tax.
If, in 2016, you concluded an agreement with an author that you would not deduct withholding tax, you are obliged to notify the tax administrator of this agreement by January 15, 2017.
**Summary:**
Slovak taxpayers must notify the tax authority by January 15, 2017, about agreements made in 2016 with authors to *not* withhold tax on their income. This is due to changes in how authors' income (royalties, artistic performances) is taxed since January 1, 2016. Income is primarily subject to withholding tax. However, authors and payers could agree in writing that withholding tax would not be applied. If such an agreement was made, the payer is obligated to inform the tax administrator by the stated deadline. The change allows authors some control over how their royalties are taxed, offering an alternative to standard withholding tax if a written agreement is in place. Failure to notify the tax authority of the "no withholding tax" agreement constitutes a breach of tax regulation and, can be subjected to a fine by tax authority.
Change in the value of meal vouchers and meals from December 1, 2016
2016年12月1日からの食事券および食事の価格改定
自2016年12月1日起餐券与餐食价值的调整
2016년 12월 1일부 식권 및 식대 금액 변경
19.12.2016
Effective December 1, 2016, the minimum value of a meal voucher increases from EUR 3.15 to EUR 3.38. The maximum value of a meal voucher is now EUR 4.50. Employees are entitled to a meal voucher for e
2016년 12월 1일부터 식권의 최저 금액이 3.15유로에서 3.38유로로 인상되며, 최고 금액은 4.50유로로 새로 설정됩니다. 하루 4시간을 초과하여 근무하는 직원은 식권을 지급받을 수 있습니다.
또한 같은 날부터 슬로바키아 국내 출장 시 출장 시간에 따라 지급되는 식비가 다음과 같이 변경됩니다.
* 5시간 이상 12시간 이하: 4.50유로 *
Effective December 1, 2016, the minimum value of a meal voucher increases from EUR 3.15 to EUR 3.38. The maximum value of a meal voucher is now EUR 4.50. Employees are entitled to a meal voucher for every workday in which they worked more than 4 hours.
Also effective December 1, 2016, according to the Act on Travel Allowances, the amount of meal allowance for an employee on a business trip within the Slovak Republic will change depending on the duration of the business trip:
The meal voucher system in Slovakia has been updated with new minimum and maximum values effective December 1, 2016. The minimum value for a meal voucher has risen from EUR 3.15 to EUR 3.38, while the maximum value is now set at EUR 4.50. Employees are eligible for a meal voucher if they work over four hours on a given workday. In parallel, the Act on Travel Allowances has also been revised, altering the meal allowance rates for employees on business trips within Slovakia. These new rates are tiered based on the duration of the trip: EUR 4.50 for trips lasting 5 to 12 hours, EUR 6.70 for trips between 12 and 18 hours, and EUR 10.30 for trips exceeding 18 hours. These changes aim to better reflect current costs and provide clearer guidelines for meal allowances.
Mandatory activation of electronic mailboxes is postponed to July 1, 2017
電子メールボックスの利用義務化は、2017年7月1日に延期となりました。
电子邮箱强制启用延期至2017年7月1日。
전자우편함 의무화 시행이 2017년 7월 1일로 연기되었습니다.
18.12.2016
On December 7, 2016, an amendment to Act No. 305/2013 Coll. on e-Government was approved, postponing the mandatory activation of electronic mailboxes for legal entities registered in the Commercial Re
2016년 12월 7일, 슬로바키아 공화국 국회는 신속 입법 절차를 통해 전자정부법 개정안을 승인했습니다. 이에 따라 상업 등기소에 등록된 법인의 전자 사서함 의무 활성화 시행일이 2017년 7월 1일로 연기되었습니다.
이에 따라 정부 기관과의 소통을 위해 전자 사서함을 아직 활성화하지 않은 기업들은 의무 활성화를 준비할 시간을 더 갖게 되었습니다.
기
On December 7, 2016, an amendment to Act No. 305/2013 Coll. on e-Government was approved, postponing the mandatory activation of electronic mailboxes for legal entities registered in the Commercial Register to July 1, 2017. This decision was made by members of the National Council of the Slovak Republic in an expedited legislative procedure.
Companies that have not yet activated their electronic mailboxes for communication with the state will now have more time to complete the mandatory activation.
The original deadline of January 1, 2017, is changed to July 1, 2017.
The main reason for postponing the mandatory activation date is the low number of statutory representatives of legal entities registered in the Commercial Register who have an electronic ID card with an electronic chip and a security personal code.
The amendment to the e-Government Act also introduces a new 10-day rule. This period allows the mailbox owner to grant authorization to manage the electronic mailbox to those individuals to whom they grant consent after activation.
Summary:
A recent amendment to Slovakia's e-Government Act, approved on December 7, 2016, delays the mandatory activation of electronic mailboxes for companies registered in the Commercial Register from January 1, 2017, to July 1, 2017. This extension, enacted by the National Council, addresses the issue of low adoption of electronic ID cards with necessary security features among company representatives. The primary goal is to allow more time for companies to prepare for the transition to electronic communication with the state. Furthermore, the amendment introduces a 10-day period after mailbox activation, enabling owners to authorize designated individuals to manage their electronic mailboxes. This aims to facilitate a smoother and more manageable transition to the e-Government system for businesses.
2016년 12월 7일, 슬로바키아 공화국 국회는 신속 입법 절차를 통해 전자정부법 개정안을 승인했습니다. 이에 따라 상업 등기소에 등록된 법인의 전자 사서함 의무 활성화 시행일이 2017년 7월 1일로 연기되었습니다.
이에 따라 정부 기관과의 소통을 위해 전자 사서함을 아직 활성화하지 않은 기업들은 의무 활성화를 준비할 시간을 더 갖게 되었습니다.
기존 마감일은 2017년 1월 1일이었으나 2017년 7월 1일로 변경되었습니다.
의무 활성화 시행일이 연기된 주된 이유는, 보안 칩과 개인 보안 코드가 내장된 전자 신분증을 소지한 법인 대표자의 수가 적기 때문입니다.
또한, 이번 전자정부법 개정안에는 '10일 규정'이 새로 도입되었습니다. 이 규정에 따라 사서함 소유자는 활성화 후 10일 이내에, 지정한 대리인에게 전자 사서함 관리 권한을 위임할 수 있습니다.
요약:
2016년 12월 7일 승인된 슬로바키아 전자정부법 개정안에 따라, 상업 등기소에 등록된 기업의 전자 사서함 의무 활성화 시점이 2017년 1월 1일에서 7월 1일로 연기되었습니다. 슬로바키아 국회가 제정한 이 연장 조치는 기업 대표자들의 보안 전자 신분증 보급률이 낮은 문제를 해결하기 위한 것입니다. 주된 목표는 기업들이 정부와의 전자 소통 시스템으로 전환하는 데 필요한 준비 시간을 더 많이 제공하는 것입니다. 더불어, 개정안은 사서함 활성화 후 10일의 기간을 두어 소유자가 지정된 개인에게 관리 권한을 위임할 수 있도록 했습니다. 이는 기업들이 전자정부 시스템으로 더 원활하고 용이하게 전환하도록 돕기 위함입니다.
Development fee - a financial instrument that will have a revenue function, a development function and an anti-corruption function.
開発負担金 — 歳入、開発、汚職防止の機能を併せ持つ金融手段。
开发费——一种兼具创收、发展与反腐功能的金融工具。
개발 부담금: 재원 확보, 개발, 부패 방지 기능을 갖춘 금융 수단.
17.12.2016
The Act aims to establish a financial instrument under the self-governing authority of municipalities. Each municipality can voluntarily introduce this instrument through its own generally binding reg
본 법률은 지방자치단체의 자치 권한에 따른 재정 제도 수립을 목표로 합니다. 각 지자체는 조례를 통해 이 제도를 자율적으로 도입할 수 있으며, 이는 지자체 수익 증대, 지역 개발 촉진, 부패 방지 기능을 수행합니다. 2016년 12월 7일 슬로바키아 공화국 국회에서 승인된 이 법은 기존의 지역 개발 부담금 관련 법률(No. 447/2015 Coll.)을 개
The Act aims to establish a financial instrument under the self-governing authority of municipalities. Each municipality can voluntarily introduce this instrument through its own generally binding regulation, serving revenue-generating, development-promoting, and anti-corruption functions. Approved by the National Council of the Slovak Republic on December 7, 2016, this Act amends Law No. 447/2015 Coll. concerning the local development fee.
A municipality can introduce the development fee within its territory via a generally binding regulation. Once approved by the municipal council, the municipality is obligated to levy the fee on individuals meeting the legal conditions. The fee applies to above-ground construction projects for which a building permit has been issued, reported to the building authority, altered before completion, or subsequently authorized.
The fee is calculated based on the new or additional floor area created above ground. Exemptions include maintenance, repairs, renovations, modernization of residential buildings that don't alter the total floor area, minor structures, additions and extensions up to 25 m2, healthcare facilities, and buildings serving kindergartens, sports, museums, libraries, or galleries.
The payer is the individual or entity with the building permit or that has reported the construction. The fee rate ranges from 3 to 35 euros per square meter of above-ground floor area. The base for the fee is the area of the above-ground part of the floor area of the realized building in m2. The municipality can levy the fee for the first time on a construction project for which a building permit was issued after the effective date of this Act, but no sooner than after the introduction of the development fee by a generally binding regulation of the municipality. The effective date of the law is December 31, 2016. It is advised to monitor the municipal webpages for the generally binding regulations regarding the development fee.
본 법률은 지방자치단체의 자치 권한에 따른 재정 제도 수립을 목표로 합니다. 각 지자체는 조례를 통해 이 제도를 자율적으로 도입할 수 있으며, 이는 지자체 수익 증대, 지역 개발 촉진, 부패 방지 기능을 수행합니다. 2016년 12월 7일 슬로바키아 공화국 국회에서 승인된 이 법은 기존의 지역 개발 부담금 관련 법률(No. 447/2015 Coll.)을 개정한 것입니다.
지자체는 조례를 통해 관할 구역 내에 개발 부담금을 도입할 수 있습니다. 조례가 지방 의회에서 승인되면, 지자체는 법적 요건을 충족하는 대상에게 부담금을 의무적으로 부과해야 합니다. 부담금은 건축 허가를 받았거나, 건축 신고를 했거나, 완공 전 설계가 변경되었거나, 또는 사후 허가를 받은 지상 건축물에 적용됩니다.
부담금은 신축 또는 증축으로 인해 늘어나는 지상층 연면적을 기준으로 산정됩니다. 다만, 총 연면적 변경이 없는 주택의 유지보수, 수리, 개보수, 현대화 공사, 소규모 건축물, 25㎡ 이하의 증축, 의료 시설, 유치원, 체육 시설, 박물관, 도서관, 미술관 용도의 건물 등은 부과 대상에서 제외됩니다.
납부 의무자는 건축 허가를 받거나 건축 신고를 한 개인 또는 법인입니다. 부담금 요율은 지상층 연면적 1제곱미터당 3유로에서 35유로 사이에서 책정됩니다. 부담금 산정의 기준이 되는 면적은 실제 건축된 건물의 지상층 연면적(㎡)입니다. 지자체는 법 시행일(2016년 12월 31일) 이후 건축 허가를 받은 사업에 대해 개발 부담금을 처음으로 부과할 수 있으나, 반드시 해당 지자체에서 개발 부담금 조례를 제정한 이후부터 가능합니다. 개발 부담금 관련 조례는 각 지자체 홈페이지에서 확인하시기 바랍니다.
Maximum assessment bases for paying contributions to the Health Insurance Company are being abolished.
健康保险缴费基数上限将被取消。
건강보험료 부과 소득 상한이 폐지됩니다.
17.12.2016
The amendment to the Health Insurance Act, effective January 1, 2017, abolished the maximum assessment base for health insurance contributions. Employees, employers, and self-employed individuals will
2017년 1월 1일부터 시행된 건강보험법 개정에 따라 건강보험료를 산정하는 소득의 상한선이 폐지되었습니다. 이에 따라 근로자, 고용주, 자영업자는 연말정산 및 보험료 납부 시 소득 전체에 대해 건강보험료를 납부하게 됩니다.
다만, 배당 소득에 대한 보험료를 계산할 때에는 소득 상한선이 계속 유지됩니다. 2016년 귀속 배당금의 경우, 보험료 부과 소득
The amendment to the Health Insurance Act, effective January 1, 2017, abolished the maximum assessment base for health insurance contributions. Employees, employers, and self-employed individuals will pay health insurance from an unlimited assessment base in annual settlements and advance payments.
However, the maximum assessment base remains in place for calculating insurance contributions from profit shares (dividends). For dividends paid for 2016, the maximum assessment base is €51,480. Dividends from profits generated from January 1, 2017, are subject to a 7% withholding tax and are no longer subject to health insurance contributions.
2017년 1월 1일부터 시행된 건강보험법 개정에 따라 건강보험료를 산정하는 소득의 상한선이 폐지되었습니다. 이에 따라 근로자, 고용주, 자영업자는 연말정산 및 보험료 납부 시 소득 전체에 대해 건강보험료를 납부하게 됩니다.
다만, 배당 소득에 대한 보험료를 계산할 때에는 소득 상한선이 계속 유지됩니다. 2016년 귀속 배당금의 경우, 보험료 부과 소득 상한액은 51,480유로입니다. 2017년 1월 1일부터 발생한 이익에 대한 배당금에는 7%의 원천징수세가 적용되며, 더 이상 건강보험료 부과 대상이 아닙니다.
The provided text outlines changes to the Value Added Tax (VAT) Act in Slovakia, effective from 2017. Key changes include adjustments regarding VAT deductions for foreign taxable persons, prioritizing
외국 사업자의 부가세 공제 관련 규정이 변경되었습니다. 이제 '역청구(Reverse Charge)'와 같은 특정 경우를 제외하고는 부가세 공제 대신 환급이 우선 적용됩니다.
외교용 차량이 6개월 이내에 폐차되거나 매각될 경우, 기존에 받았던 부가세 환급금을 반환해야 하는 기한이 단축되
The provided text outlines changes to the Value Added Tax (VAT) Act in Slovakia, effective from 2017. Key changes include adjustments regarding VAT deductions for foreign taxable persons, prioritizing VAT refunds over deductions except in specific cases like reverse charge scenarios. There's a shortened timeframe for returning VAT refunds on vehicles with diplomatic license plates if destroyed or sold within six months. A legal "fiction" is introduced for construction work VAT liability, shifting responsibility to the recipient if the invoice indicates "reverse charge." Suppliers using reverse charge in the construction sector must report these invoices in a control statement, even if not reported on the tax return. The act introduces compensation (interest) for excessive VAT refund delays exceeding six months due to tax audits, initiated ex officio by the tax office, unless the delay is due to the taxpayer. Finally, the effective date of self-assessment for imports from third countries has been postponed, dependent on Slovakia's public debt levels relative to EU limits, applying from January of the second calendar year following the Eurostat's publication.
외국 사업자의 부가세 공제 관련 규정이 변경되었습니다. 이제 '역청구(Reverse Charge)'와 같은 특정 경우를 제외하고는 부가세 공제 대신 환급이 우선 적용됩니다.
외교용 차량이 6개월 이내에 폐차되거나 매각될 경우, 기존에 받았던 부가세 환급금을 반환해야 하는 기한이 단축되었습니다.
건설 용역에 대한 부가세 납부 책임과 관련하여 새로운 규정이 도입되었습니다. 공급자가 발행한 세금계산서에 '역청구'라고 명시된 경우, 부가세 납부 책임은 용역을 공급받는 자에게 이전된 것으로 간주됩니다.
건설 부문에서 역청구 방식으로 거래한 공급자는, 해당 거래를 부가세 신고서에 포함하지 않더라도 관련 세금계산서 내역을 반드시 별도로 제출해야 합니다.
세무 조사로 인해 부가세 환급이 6개월 이상 지연되는 경우에 대한 보상 제도가 신설되었습니다. 단, 지연의 책임이 납세자에게 있지 않아야 하며, 이 경우 세무서가 직권으로 지연 이자를 지급합니다.
마지막으로, 제3국 수입품에 대한 부가세 자진신고납부 제도의 시행이 연기되었습니다. 시행 시점은 슬로바키아의 공공 부채가 EU 기준치 대비 어느 수준인지에 따라 결정되며, 유럽연합 통계청(Eurostat)의 공식 발표가 있은 후 2년 뒤 해의 1월 1일부터 적용될 예정입니다.
This newsletter details changes to the Income Tax Act effective from January 1, 2017, in Slovakia.
Key updates include modifications to dividend taxation. Dividends from profits earned before 2004 are taxed at 7%. Those from 2004-2016 remain untaxed but are subject to health insurance contributions based on the rules of the respective years. Dividends from profits earned from 2017 onwards are taxed at 7% and are not subject to health insurance contributions. Dividends paid to or received from non-treaty countries are taxed at 35%. Specific rules apply based on double taxation treaties. Dividends to employees without equity participation are treated as dependent activity income.
The corporate income tax rate decreases from 22% to 21%. Tax licenses are abolished after 2017 (or the fiscal year ending in 2018). Lump-sum expenses increase to 60% of business income, up to €20,000.
Transfer pricing rules are amended, including adjustments to the tax base and new regulations for primary and corresponding adjustments, especially for taxpayers benefiting from tax relief. Fixed fees are introduced for approving pricing methods (€10,000 for unilateral, €30,000 for bilateral). A new section 18a aims to penalize intentional tax evasion through transfer pricing, with potential double penalties.
Other changes include clarifying the definition of rent included in the tax base, stricter tax treatment of demonstration vehicles, and the introduction of tax deductibility for humanitarian aid and mandatory contributions for crisis resolution on the financial market.
Implementation of BEPS Action Plans into Slovak Tax Legislation
スロバキア税法におけるBEPS行動計画の導入
BEPS行动计划在斯洛伐克税法中的立法转化
슬로바키아 세법의 BEPS 실행계획 반영
28.11.2016
Erosion of the corporate income tax base is a critical issue addressed by the G20, G8, and EU countries. The G20 and OECD developed the BEPS Action Plan to combat base erosion and profit shifting by m
Erosion of the corporate income tax base is a critical issue addressed by the G20, G8, and EU countries. The G20 and OECD developed the BEPS Action Plan to combat base erosion and profit shifting by multinational companies to low-tax countries. Member states are expected to implement BEPS measures into their legislation.
Slovakia has already implemented a 25% super deduction for research and development expenses into its domestic laws. Actions 8-10, concerning transfer pricing and aligning it with economic activity, have been adopted, focusing on the arm's length principle and intangible assets. The revised guidance on intangible assets emphasizes distinguishing between legal and economic ownership and comparing additional factors during comparability analysis.
Action 13, Country-by-Country (CbC) reporting, was signed by Slovakia in 2016. It applies to large multinational groups with consolidated annual revenue exceeding 750 million euros, requiring them to report information to relevant financial authorities annually. These authorities then automatically exchange information on global allocation of income, profits, capital, employees, assets, and taxes paid, facilitating the detection of pricing inaccuracies and tax avoidance.
Action 14 aims to improve dispute resolution mechanisms related to double taxation treaties, including arbitration provisions. Slovakia aims to renegotiate its treaties to meet current requirements.
Action 15 involves a Multilateral Instrument (MLI), joined by 94 countries, which efficiently renegotiates existing bilateral tax treaties. The MLI can modify treaty articles related to hybrid instruments, treaty abuse, artificial avoidance of permanent establishments, and effective dispute resolution. Slovakia plans to join the MLI.
Italy Implements Country-by-Country (CbC) Reporting for Multinational Enterprises
意大利对跨国企业实施国别报告
이탈리아, 다국적 기업 대상 국가별 보고서(CbC) 제도 시행
28.11.2016
On December 22, 2015, Italy's parliament approved the 2016 Finance Law, introducing Country-by-Country (CbC) reporting for Italian-based multinational enterprises (MNEs), aligning with Action 13 of th
On December 22, 2015, Italy's parliament approved the 2016 Finance Law, introducing Country-by-Country (CbC) reporting for Italian-based multinational enterprises (MNEs), aligning with Action 13 of the OECD's Base Erosion and Profit Shifting (BEPS) project.
Italian MNEs obligated to prepare consolidated financial statements with an annual consolidated turnover of at least €750 million, and controlled only by individuals, must submit a CbC report to the Italian tax authorities.
This reporting obligation extends to Italian subsidiaries of MNEs meeting specific criteria if the ultimate parent company, required to prepare consolidated financial statements, is resident in a jurisdiction that: hasn't implemented CbC reporting; lacks a valid information exchange agreement with Italy regarding CbC reports; or hasn't fulfilled its CbC reporting information exchange obligations.
The CbC report, submitted annually, must include selected financial data such as gross revenue, paid and accrued tax, and other key business activity indicators by jurisdiction. The first CbC report covers tax periods beginning on or after January 1, 2016, and is due within 12 months of the end of the reporting fiscal year. Failure to file, or incorrect/incomplete filing, will incur penalties from €10,000 to €50,000. Further details on the effective date, specific content, filing requirements, and procedures regarding the CbC report will be specified in a decree issued by the Ministry of Economy and Finance.
Summary:
Italy implemented Country-by-Country (CbC) reporting in 2016 for multinational enterprises headquartered in Italy with a consolidated turnover of at least €750 million, aligning with OECD's BEPS Action 13. Italian subsidiaries of multinational companies are also required to submit the report if the parent company’s country of residence hasn't implemented CbC reporting, lacks an agreement with Italy for information exchange, or has failed to fulfill its obligations regarding such exchanges. The annual CbC report includes financial data like gross revenue and taxes, with the initial reporting period beginning on or after January 1, 2016, due within 12 months after the end of that reporting year. Non-compliance results in penalties ranging from €10,000 to €50,000. The Ministry of Economy and Finance issues further regulations concerning the specific details and requirements of CbC reporting.
Implementation of BEPS Action Plans into Czech Tax Legislation
チェコ税制におけるBEPS行動計画の導入
将BEPS行动计划转化为捷克国内税法
BEPS 실행 계획의 체코 세법 반영
28.11.2016
The Czech Ministry of Finance issued a document on April 22, 2016, in response to the European ATAD directive, aiming to discuss the implementation of BEPS action plans into Czech legislation. Several
The Czech Ministry of Finance issued a document on April 22, 2016, in response to the European ATAD directive, aiming to discuss the implementation of BEPS action plans into Czech legislation. Several action plans are being or will be implemented.
Action Plan 2 addresses hybrid mismatches. Since May 1, 2016, dividends received by a parent company are not exempt if the subsidiary can deduct these payments from its tax base. This restriction will extend to sales of shares in subsidiaries.
Action Plan 3 introduces Controlled Foreign Company (CFC) rules, allowing parent companies to be taxed on profits of their low-taxed subsidiaries, provided the parent holds at least a 50% stake. In the Czech Republic, dividend income and capital gains from subsidiaries are not exempt if the subsidiary is located outside the EU without a double tax treaty or is subject to a tax rate below 12%. This restriction applies even with a 10% parent ownership.
Action Plan 4 proposes limiting interest deductibility, extending beyond related parties to also include interest paid to unrelated parties. The OECD proposal suggests a debt-to-EBITDA ratio limit (10-30%). This would impact more companies and be influenced by debt levels and interest rate changes, potentially affecting business investment.
Action Plan 5 enhances tackling harmful tax practices through the automatic exchange of advance pricing agreements and tax rulings.
Action Plans 8-10 focus on aligning transfer pricing with economic activity. The Czech Republic adheres to the arm's length principle, interpreted through guidelines. Since 2015, companies must submit an appendix detailing related-party transactions with their tax returns, with data used for risk selection. Payments to entities outside the EU for royalties are a risk criterion. The Czech Republic currently lacks provisions against the transfer of intangibles like IP or patents to preferential tax jurisdictions. As Czech companies invest more in R&D, the question arises whether exit taxation should apply to functional profile changes and the relocation of routine production to lower-tax countries, driven by cost savings or tax advantages. The principle of substance over form is increasingly applied in tax audits, scrutinizing economic activities over contractual arrangements.
We would like to inform you about the Austrian Transfer Pricing Documentation Act (TPDA), which came into effect in October 2016. This law expands the regulations for multinational corporations for ta
We would like to inform you about the Austrian Transfer Pricing Documentation Act (TPDA), which came into effect in October 2016. This law expands the regulations for multinational corporations for tax periods beginning after January 1, 2016. If certain conditions are met, particularly turnover thresholds, these new obligations apply.
The TPDA, in line with OECD requirements, establishes a three-part documentation structure: a Master File, a Local File, and a Country-by-Country Report (CbCR). The Master File describes the entire group of companies and its global economic activities and transfer pricing policies. The Local File contains information about specific economic transactions of the domestic entity. The CbCR provides information on the global distribution of income, tax obligations, and economic activities within a specific multinational group, including a list of the multinational group's companies.
The extent of required documentation depends on turnover. Master and Local Files are mandatory if revenues in the last two preceding periods exceeded EUR 50 million according to Austrian accounting standards. A CbCR is required if the group's turnover reached at least EUR 750 million in the previous year according to the consolidated profit and loss statement. The ultimate parent company prepares the report, though this responsibility can be transferred to another Austrian subsidiary under certain conditions.
Master and Local Files must be submitted to the tax authority within 30 days upon request. The CbCR must be filed electronically within 12 months after the end of the relevant reporting year, without prior notice from the tax office.
Failure to file the CbCR on time, or filing it incompletely or incorrectly, constitutes a financial crime and is punishable by a fine of up to EUR 50,000, imposed by the Financial Criminal Office. The Master File includes information on the organizational structure of the multinational group and a description of its economic activities. The Local File describes the specific domestic business company, including its management structure, economic activities, strategy, and main competitors.
Originally, all electronic mailboxes were to be automatically activated from January 1, 2017, and authorities were to send official documents to all companies in their electronic mailboxes. However, i
Originally, all electronic mailboxes were to be automatically activated from January 1, 2017, and authorities were to send official documents to all companies in their electronic mailboxes. However, in connection with the mandatory activation of mailboxes for legal entities, the date of mandatory activation for legal entities based in the Slovak Republic not registered in the commercial register has changed. Their electronic mailboxes will be automatically activated for delivery only on May 1, 2018. This applies, for example, to civic associations, foundations, non-profit organizations, and similar legal entities.
These entities can voluntarily activate their electronic mailboxes for the delivery of official decisions by the specified date, using a dedicated function. The delay in the mandatory activation date for legal entities not registered in the commercial register stems from the Act on trusted services for electronic transactions in the internal market. The state establishes electronic mailboxes free of charge on the portal slovensko.sk. Authorities will send various notifications, calls, alerts, decisions, and other documents to these mailboxes from institutions like the Social Insurance Agency and courts. More detailed information can be found on the slovensko.sk website.
Greater transparency in state-private sector business deals?
16.11.2016
A new law, the Act on the Register of Public Sector Partners, takes effect in February to increase transparency in state-private sector dealings. The law mandates the creation of a public register of
A new law, the Act on the Register of Public Sector Partners, takes effect in February to increase transparency in state-private sector dealings. The law mandates the creation of a public register of entities contracting with the state and public law bodies, including those supplying goods or services to identified "public sector partners." This aims to ensure ultimate beneficial ownership is disclosed, moving away from a reliance on self-declarations.
The legislation introduces a stricter verification process for ultimate beneficial owners, who are defined as individuals with actual control or in whose favor transactions are conducted. Lawyers, notaries, banks, auditors, and tax advisors will be responsible alongside the public sector partner for identifying and verifying these individuals. Exceptions to registration exist for single payments under €100,000 or cumulative annual payments not exceeding €250,000. For asset acquisition, the limit is €100,000 in aggregate value.
Penalties for non-compliance, such as providing false information or failing to report changes within 60 days, range from fines equivalent to the economic benefit gained to a maximum of €1,000,000. Fines can also be levied on statutory bodies. The Slovak anti-shell law is presented as a unique global initiative demanding ownership disclosure from companies doing business with the state and potentially serving as a model for anti-corruption efforts across Europe. The Ministry of Justice administers the register, which is publicly accessible.
The National Council of the Slovak Republic approved an amendment to Act No. 461/2003 Coll. on Social Insurance on October 11, 2016. The primary change, effective January 1, 2017, involves increasing
The National Council of the Slovak Republic approved an amendment to Act No. 461/2003 Coll. on Social Insurance on October 11, 2016. The primary change, effective January 1, 2017, involves increasing the contribution base ceiling from five to seven times the average monthly wage, raising it from EUR 4,290 to EUR 6,181. This applies to the maximum contribution base for self-employed individuals and freelancers, as well as for employees and employers. Consequently, the law indirectly sets the highest amount of contributions payable to the Social Insurance Agency.
The amendment also revises the maximum daily contribution base for calculating income replacement during temporary incapacity for work and sickness benefits. Effective January 1, 2017, this maximum limit is raised from 1.5 times to 2 times the general contribution base for the year 2015 (EUR 10,596). This adjustment impacts calculations for sickness benefits, care allowance, equalization benefits, and maternity benefits.
As of August 1, 2016, under Slovak law, all electronic mailboxes for legal entities registered on www.slovensko.sk are automatically activated for official delivery. This activation enables communicat
As of August 1, 2016, under Slovak law, all electronic mailboxes for legal entities registered on www.slovensko.sk are automatically activated for official delivery. This activation enables communication with public authorities. The process will be phased in until January 1, 2017, making it mandatory for legal entities and registered organizational units. For individuals and sole proprietors, activation is voluntary.
The state establishes these electronic mailboxes for free on www.slovensko.sk. The Slovak Government Office automatically creates a mailbox for every legal entity registered in official records, including newly formed ones. Public authorities will send various official documents, such as notifications, demands, and decisions, into these mailboxes, similar to current postal mail. Companies can use their mailboxes to submit applications, register businesses, obtain extracts, and access other e-government services.
From January 1, 2017, all electronic mailboxes will be automatically activated, and official documents sent to them will be considered equivalent to written correspondence. Mailboxes will only be deactivated upon a company's dissolution and deletion from the commercial register.
Access to a legal entity's mailbox is granted to its statutory body or a member thereof. Access requires logging in with an electronic ID card, which includes an electronic chip and a personal security code. It is advisable to obtain an electronic ID card, a card reader, and the necessary software. For signing electronic documents, a guaranteed electronic signature is also recommended. The statutory representative can delegate access to others. Foreign statutory representatives must authorize a Slovak citizen with an electronic ID card for full access.
Official electronic correspondence is considered delivered even if not read. To avoid issues, statutory representatives can set up email notifications for new messages received in their electronic mailbox.
This article also offers services for managing legal entity electronic mailboxes, including monitoring and informing clients about their contents.
Effective January 1, 2017, EU Council Implementing Regulation No 1042/2013 on VAT for services related to immovable property came into force. This regulation aims to unify the interpretation of terms
Effective January 1, 2017, EU Council Implementing Regulation No 1042/2013 on VAT for services related to immovable property came into force. This regulation aims to unify the interpretation of terms related to real estate across all EU member states, ensuring consistent VAT treatment for services linked to property. This harmonization is intended to boost legal certainty and reduce transaction risks.
The regulation clarifies what constitutes immovable property and which services are considered property-related, primarily to prevent double taxation or non-taxation. Services are deemed property-related only if they have a sufficiently direct link to the property, either by being performed on it or being aimed at its physical or legal alteration. Excluded are services like advertising (even if conducted on property), travel agency services, and providing exhibition space with ancillary services (e.g., Wi-Fi), as well as portfolio management for real estate investments and certain legal services.
Examples of property-related services include architectural projects for specific plots, expert, legal, and brokerage services for specific properties (like sales and lease mediation, notarization, contract drafting), property management (health and safety, cleaning, maintenance, rent collection, site supervision, advertising vacancies, lease negotiation), and employee provision only if the provider retains responsibility for the work performed. Given the complexity of defining these services, professional advice is recommended for any ambiguities.
In today's business environment, no member of a company's statutory bodies, aiming for success in domestic and foreign markets, can discount the possibility that some decisions may prove erroneous in
In today's business environment, no member of a company's statutory bodies, aiming for success in domestic and foreign markets, can discount the possibility that some decisions may prove erroneous in the near or distant future. Consequently, the impact of management decisions is increasingly complex.
Even when acting in the best interests of the company, lawsuits against statutory body members are becoming common practice, even in Slovakia. Shareholders are more aware of their rights and are increasingly asserting them through litigation.
When managing any company, the consequences of your decisions may not be immediately apparent. As a member of a company's statutory body, you should make decisions without fearing for your personal assets. However, this fear of repercussions can be significantly limiting when making crucial company decisions.
Directors and Officers (D&O) liability insurance provides protection against claims for breaches of duty, not only from third parties but also from the company itself. This insurance is a standard product covering the liability of board members, supervisory board members, directors, authorized representatives, and key management personnel in control or management functions for damages incurred during their roles. It is one of the few existing and effective tools for protecting both companies and the personal assets of individuals in leadership positions.
Your liability is unlimited, meaning you are responsible for damages with your entire personal estate. It is objective, as you are liable regardless of fault, with the burden of proof on you. It is also solidary, meaning all members of the statutory body are jointly and severally liable for incurred damages.
D&O insurance covers costs for legitimate financial claims, legal representation, claims investigation, reputational damage repair, and retroactive coverage for breaches of duty prior to the policy's inception. The annual premium is surprisingly low.
This article discusses the increasing complexity of management decisions and the growing trend of lawsuits against company directors and officers. It highlights the personal liability faced by these individuals, which is unlimited, objective, and solidary. To mitigate these risks, the article strongly recommends Directors and Officers (D&O) liability insurance. This insurance protects against claims from both third parties and the company itself, covering legal costs, investigation expenses, and reputational damages. The text emphasizes that D&O insurance is a crucial tool for safeguarding both the company's interests and the personal assets of its leadership. It concludes by noting that the cost of such insurance is surprisingly affordable.
Comparability Analysis and Its Importance in Transfer Pricing
28.09.2016
The essence of transfer pricing is to set prices for goods, services, assets, etc., in mutual transactions between related parties within a multinational group of companies in a way that corresponds t
The essence of transfer pricing is to set prices for goods, services, assets, etc., in mutual transactions between related parties within a multinational group of companies in a way that corresponds to the conditions of an independent business relationship, or to comply with the so-called arm's length principle.
Every entrepreneur conducting financial or business transactions with individuals who are connected personally, economically, or otherwise, must maintain transfer pricing documentation. This obligation applies to transactions with both legal entities and natural persons without exception. A new Guideline No. MF/014283/2016-724, which clarifies the documentation obligations of public administration accounting units, central administration, and entities with direct or indirect state, municipal, or higher territorial self-governing unit participation, came into effect in July 2016. However, the requirements for the content of the documentation have not fundamentally changed for these entities.
A comparability analysis is considered key for selecting the most suitable transfer pricing method and for setting the correct transfer price for tax purposes. The comparability analysis represents an important piece of evidence, especially during tax audits. However, in practice, entrepreneurs face significant challenges in obtaining comparable data to justify the prices used in controlled transactions, as the taxpayer bears the responsibility for comparability. Several information sources are used to obtain external comparable data. The Amadeus database is the most commonly used. The Slovak tax administration also uses this database for tax audits. Our company also has access to this database, so if you are interested in transfer pricing documentation, please contact us.
What changes will BEPS Action 8-10 bring to transfer pricing?
22.08.2016
In October 2015, the OECD finalized proposals for its Action Plan on Base Erosion and Profit Shifting (BEPS). Following negotiations, the OECD approved amendments to the Transfer Pricing Guidelines fo
In October 2015, the OECD finalized proposals for its Action Plan on Base Erosion and Profit Shifting (BEPS). Following negotiations, the OECD approved amendments to the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations concerning Actions 8-10. These changes, effective immediately upon publication, focus on the application of the arm's length principle and intangible assets.
The revised guidelines redefine intangible assets, emphasizing the distinction between legal and beneficial owners. They also introduce additional factors for comparability analysis, such as exclusivity, scope and duration of legal protection, geographic area, useful life, development stage, product enhancement rights, and future benefit expectations. Thirty-three illustrative examples are provided for clarity.
A new section addresses synergies within corporate groups, clarifying that these benefits, such as economies of scale from centralized purchasing, are only recognized for transfer pricing purposes if they result from targeted group activities. If a group member, like a regional manager, negotiates bulk discounts that benefit other subsidiaries, this targeted activity generates a positive synergy that should be allocated based on purchasing volume. However, if favorable terms are offered to attract other group members without a deliberate group strategy, no synergy is recognized.
Intangible assets are defined as non-physical, non-financial assets that owners can utilize in business relationships, with their use or transfer incurring compensation between independent parties. Importantly, the transfer pricing classification of intangibles may differ from accounting classifications; assets expensed during development can still hold economic value and be treated as intangibles for transfer pricing. The guidelines stress the need to differentiate legal owners from beneficial owners, ensuring the legal owner bears associated risks and performs functions related to maintaining, improving, and protecting the intangible, although these activities can be outsourced.
A benefit concert was organized specifically for children and patients with intellectual disabilities who do not have the opportunity to attend musical concerts and events throughout the year. The chi
A benefit concert was organized specifically for children and patients with intellectual disabilities who do not have the opportunity to attend musical concerts and events throughout the year. The children themselves actively performed with their own program. We are pleased that we could contribute even a little to the excellent mood and feelings these children took away from this event. We will definitely be happy to support such a project in the future.
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A benefit concert was organized for children and patients with intellectual disabilities who lack access to musical events. The concert provided an opportunity for these individuals to enjoy music and actively participate, with the children themselves performing. The organizers expressed their satisfaction in contributing to the positive experience and mood of the attendees. They also indicated their willingness to support similar projects in the future, highlighting the positive impact such initiatives have on the well-being of these children and patients. The provided text also includes a section for user ratings and feedback on the article's usefulness, which currently shows no votes.
What are the duties of a company director when the company has negative equity?
Under commercial law, the term "crisis" is a new concept introduced by an amendment to the Commercial Code effective Ja
What are the duties of a company director when the company has negative equity?
Under commercial law, the term "crisis" is a new concept introduced by an amendment to the Commercial Code effective January 1, 2016. A company is in crisis if it is bankrupt or facing bankruptcy. Bankruptcy is imminent if the ratio of its equity to liabilities is less than 4 to 100 (this ratio was set for 2016, increasing to 6 to 100 in 2017 and 8 to 100 in 2018). Companies in crisis are subject to new provisions and restrictions, particularly the prohibition of returning statutory payments.
The Commercial Code mandates that the statutory body of a company, upon realizing or being able to realize that the company is in crisis, must take all necessary actions with professional diligence to overcome the situation, as a reasonably diligent person in a similar position would.
According to the Bankruptcy and Restructuring Act, a company that is over-indebted must file for bankruptcy within 30 days of becoming aware, or being able to become aware through professional diligence, of its over-indebtedness. The statutory body of the company is responsible for filing this proposal. Failure to file on time can result in a fine of EUR 12,500, and any agreement exempting the statutory body from this fine is void. Over-indebtedness is defined as having more than one creditor, where the value of liabilities exceeds the value of assets, considering expected future asset management or business operations. Certain subordinate liabilities are not included in the calculation of liabilities.
The Slovak Ministry of Finance has proposed amendments to several laws, potentially effective January 1, 2017, or January 1, 2018. Key changes include a reduction in the corporate income tax rate to 2
The Slovak Ministry of Finance has proposed amendments to several laws, potentially effective January 1, 2017, or January 1, 2018. Key changes include a reduction in the corporate income tax rate to 21% for periods starting January 1, 2017. Dividends paid to individuals will be taxed at 15% starting January 1, 2018, with health contributions abolished. Corporate dividends will only be taxed if from non-contracting states, at a 35% rate, aimed at combating tax evasion.
Transfer pricing rules will see increased penalties for intentional tax base reduction. The process for self-correction of transfer prices will be streamlined. New provisions introduce shortened assessment procedures for tax deficiencies and simplify tax payment deferral conditions.
VAT law will standardize VAT refund claims for foreign entities providing construction services, prioritizing refunds over tax returns. Taxpayers will be entitled to 1.5% annual interest on overpaid VAT amounts retained during tax audits beyond six months.
Excise taxes on tobacco products will increase from 2017, with further hikes planned for 2019, primarily for public health and revenue stability. Businesses in regulated sectors like energy, postal services, insurance, and telecommunications may see their profit-based levies double from 0.363% to 0.726%, effective December 31, 2016. The Ministry will monitor these proposals through the interdepartmental review process.
News from the EU workshop. Will they handle tax evasion?
19.08.2016
The European Union is set to adopt a package of measures to combat tax evasion, a global issue requiring worldwide solutions. Following the BEPS project, this initiative has the approval of the Slovak
The European Union is set to adopt a package of measures to combat tax evasion, a global issue requiring worldwide solutions. Following the BEPS project, this initiative has the approval of the Slovak Ministry of Finance. Introduced in early 2016, the "Anti-Tax Evasion Package" consists of four parts aimed at curbing cross-border tax avoidance: ATAD Directive, recommendations against tax treaty abuse, expanded administrative cooperation, and external strategy communication.
Key provisions within the ATAD Directive include an interest limitation rule, stricter than Slovakia's current thin capitalization rule, along with a general anti-abuse rule, exit taxation, and controlled foreign company rules. Recommendations to prevent tax treaty abuse are also crucial. Obligatory automatic exchange of tax information will see increased stringency.
Multinational enterprises with consolidated turnover exceeding €750 million will be required to publicly disclose information on income tax accrued and paid, employee numbers, net turnover, and profit before tax. This data will be accessible in the commercial register and on company websites for five years. The external strategy aims to enhance transparency, set standards for good tax governance, and ensure fair tax competition. Implementation of these changes is anticipated in 2017 or 2018.
New rules for the publication of the list of defaulters
19.08.2016
The Financial Administration of the Slovak Republic will publish a list of tax debtors on a monthly basis. Updated lists will be published by the end of the calendar month following the month for whic
The Financial Administration of the Slovak Republic will publish a list of tax debtors on a monthly basis. Updated lists will be published by the end of the calendar month following the month for which the list is prepared.
Starting June 2016, the Financial Administration of the Slovak Republic will publish a more extensive list of tax debtors. Previously, the list contained over 5,200 taxpayers, but under new rules, it will include over 80,000. This change, effective from May 1, 2016, mandates monthly publication of the tax debtor list. The updated lists will be released by the end of the month after the reporting month. The first such list, for May 2016, was published by the end of June 2016.
New criteria also adjust the threshold for tax debt disclosure. Previously, individuals were listed if they owed over €17,000 and legal entities if they owed over €170,000. These thresholds have been unified to a common value of €170.
Electronic communication between customs authorities
19.08.2016
Under the new Union Customs Code, effective May 1, 2016, all communication between economic operators and customs authorities must be conducted electronically. If the relevant electronic systems are n
Under the new Union Customs Code, effective May 1, 2016, all communication between economic operators and customs authorities must be conducted electronically. If the relevant electronic systems are not operational, other means of information exchange and storage may be used. However, this exception is valid only until December 31, 2020. Anyone undergoing customs clearance or control processes is obligated to provide customs authorities with all relevant documents, information, and assistance. These individuals are required to retain documents and other information for a minimum of 3 years and may become debtors if they provide false data necessary for customs declarations.
The Union Customs Code mandates electronic communication between economic operators and customs authorities as of May 1, 2016. Temporary exceptions for using alternative information exchange methods are permitted if electronic systems fail, but these exemptions expire on December 31, 2020. Individuals involved in customs procedures must cooperate fully with customs authorities, providing all necessary documentation and information. Furthermore, they are legally bound to keep records for at least three years. Failure to provide accurate information for customs declarations can lead to an individual being held liable as a debtor.
Financial institutions in Slovakia, including banks and branches of foreign banks, have been obligated since January 1, 2016, to identify and report their clients' tax residency to the Slovak Financia
Financial institutions in Slovakia, including banks and branches of foreign banks, have been obligated since January 1, 2016, to identify and report their clients' tax residency to the Slovak Financial Administration. This regulation stems from the OECD's initiative to combat global tax evasion, specifically through the framework of FATCA (Foreign Account Tax Compliance Act), a U.S. law. FATCA facilitates the automatic exchange of financial account information between signatory countries for tax purposes, focusing on the income of residents in these countries.
Slovak financial institutions are required to provide specific details about account holders, such as account numbers, balances, or values, and any associated gross income. For FATCA implementation, the Slovak Financial Administration was mandated to receive information from financial institutions for the years 2014 and 2015 by June 30, 2016, and subsequently provide this information to the U.S. Internal Revenue Service by September 30, 2016. Slovakia joined countries committed to this automatic exchange of information. In practice, EU financial institutions, and those in many other nations, must ascertain client tax residency according to set procedures from January 1, 2016, and report this data annually from 2017. Austria received a one-year deferral in this process.
Increasing Block Capacity in the Virtual Registration Cash Register (VRP)
19.08.2016
Starting July 1, 2016, the Slovak Financial Directorate increased the issued receipt capacity for all Virtual Registration Cash Register (VRP) users. The monthly limit for issuing receipts was raised
Starting July 1, 2016, the Slovak Financial Directorate increased the issued receipt capacity for all Virtual Registration Cash Register (VRP) users. The monthly limit for issuing receipts was raised from 1,000 to 3,000, a change that also applies to new VRP users.
The use of the virtual registration cash register is free of charge. VRP is intended for those who became obligated to use registration cash registers from April 1, 2015. Registration is required at any tax office to obtain a VRP code.
A key advantage is that new or small entrepreneurs can utilize VRP instead of purchasing traditional registration cash registers. VRP operates on internet-connected electronic devices such as computers, laptops, tablets, or smartphones. A printer must be connected to these devices to print documents and closing reports.
If the number of documents issued exceeds 3,000 per month, entrepreneurs are required to use an electronic registration cash register.
VRP is designed for simplicity, aiming to relieve entrepreneurs of certain administrative duties. For instance, users are not obligated to have a service contract, maintain a VRP logbook, or prepare daily closing reports.
You might be interested in. New forms of joint-stock companies
15.07.2016
Two separate amendments to the Commercial Code introduce new forms of joint-stock companies to support business in Slovakia: the Simple Joint-Stock Company (j.s.a.) and the Joint-Stock Company with Va
Two separate amendments to the Commercial Code introduce new forms of joint-stock companies to support business in Slovakia: the Simple Joint-Stock Company (j.s.a.) and the Joint-Stock Company with Variable Basic Capital.
The j.s.a. is primarily intended for startups, offering a simpler structure with a low minimum share capital of €1. A key advantage is that the company is liable for its debts with its entire assets, but shareholders are not liable at all. Shares will be registered and issued only in dematerialized form for transparency. The j.s.a. will combine elements of limited liability companies (s.r.o.) and traditional joint-stock companies (a.s.).
The Joint-Stock Company with Variable Basic Capital aims to support investment funds with variable capital, contributing to the development of the capital market. Unlike regular joint-stock companies, its basic capital can fluctuate, reflecting the real value of the company's assets. The minimum capital for this type of company is €125,000. It can issue and buy back its own shares, and adjust its basic capital without shareholder approval, as well as issue new shares based on investor demand.
Registration of a foreign person after 1.1.2016 and tax relating to the supply of construction works
15.07.2016
When does a foreign taxable person become obliged to register?
A foreign taxable person becomes obliged to register, inter alia, according to § 5 of the VAT Act, if they are a recipient of constructi
When does a foreign taxable person become obliged to register?
A foreign taxable person becomes obliged to register, inter alia, according to § 5 of the VAT Act, if they are a recipient of construction work in the Slovak Republic, or if goods with installation and assembly are supplied to them in the Slovak Republic by another foreign person. This is because, according to § 69 par. 12 letter j) of the VAT Act, a taxable person who is the recipient of a supply from another taxable person is obliged to pay the tax related to the supply of construction work, including the supply of a building or its part, which falls under Section F of a special regulation, and the supply of goods with installation or assembly, if the installation or assembly falls under Section F of a special regulation – this applies from 1.1.2016.
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A foreign taxable person is required to register for VAT in Slovakia under specific conditions as outlined in the VAT Act. Primarily, this obligation arises when the foreign entity is the recipient of construction work performed within Slovakia, or when they receive goods that include installation or assembly services, provided these are supplied by another foreign person. This rule, effective from January 1, 2016, designates the recipient of such services as the party responsible for paying the VAT. This aligns with provisions that place the tax liability on the recipient when dealing with construction services or goods requiring installation or assembly that fall under a specific economic classification (Section F). The text also includes a rating mechanism for the article's usefulness, which currently shows no votes.
On May 1, 2016, the new Union Customs Code (Regulation (EU) No 952/2013) and its implementing provisions (Commission Delegated Regulation (EU) 2015/2446 and Commission Implementing Regulation (EU) 201
On May 1, 2016, the new Union Customs Code (Regulation (EU) No 952/2013) and its implementing provisions (Commission Delegated Regulation (EU) 2015/2446 and Commission Implementing Regulation (EU) 2015/2447) came into effect, establishing a new foundation for customs law across the EU. The primary objectives of this update are to streamline customs regulations, enhance legal certainty, and transition customs authorities to a fully electronic environment.
A key change is the increased importance placed on the "Authorised Economic Operator" (AEO) status. AEOs are companies that, upon meeting specific criteria such as compliance with customs regulations, proper accounting, and solvency, can benefit from customs procedure simplifications. These simplifications can include centralized customs clearance in multiple member states or exemption from presenting goods during local customs procedures.
The updated code also mandates that AEO applicants must not have committed serious tax law infringements in the preceding three years. Furthermore, the new legislation addresses changes in royalty payments. Previously, royalties were often excluded from customs value and thus not subject to import duties. However, under the new rules, royalties will be added to the customs value if the goods can only be sold upon payment of royalties to the licensor, or if the seller unconditionally requires payment of royalties to a third-party provider. This is expected to lead to more detailed examination of trade agreements.
The new customs law also eliminates the practice of using the "price of first sale" as the basis for calculating import duties, instead requiring the invoiced price from the supplier. Transitional arrangements allow the previous method until December 31, 2017, if the contract was concluded by January 18, 2016. The legislation introduces new ways for customs debts to be extinguished, such as when infringements have no substantial impact on the customs procedure and are rectified, or if the goods were merely moved out of the EU without fraudulent intent. Other changes include relaxed rules for amending customs declarations, the introduction of global guarantees, modifications to binding information on goods classification and origin, supplier declaration regulations, and a future requirement for guarantees for approved placements of goods.
Delayed VAT Registration – The Value Added Tax Act No. 222/2004 Coll., as amended (hereinafter referred to as the "VAT Act"), imposes certain obligations even on non-VAT payers. Entrepreneurs who are
Delayed VAT Registration – The Value Added Tax Act No. 222/2004 Coll., as amended (hereinafter referred to as the "VAT Act"), imposes certain obligations even on non-VAT payers. Entrepreneurs who are not VAT payers should continuously monitor their revenues to reach the turnover threshold for mandatory VAT registration. If they do not pay sufficient attention to their accounting during the year, it may happen in practice that after some time they realize they should have applied for VAT registration.
The period during which a taxable person who has not fulfilled their obligation and has not timely submitted a registration application should have been a taxpayer is understood as the period starting on the 31st day after the day when the person was obliged to submit the VAT registration application at the latest, and ending on the day preceding the day of registration as a taxpayer. The definition of this period, taking into account the 30-day delay, applies only to domestic taxable persons, i.e., persons having their registered office, branch, or residence in the Slovak Republic.
This article clarifies the obligations for non-VAT registered businesses in Slovakia regarding VAT registration. It highlights that even businesses not currently registered for VAT must continuously monitor their turnover. Failure to do so can result in a situation where they belatedly discover they have exceeded the mandatory registration threshold. The VAT Act defines a specific period for which such a business becomes liable as a taxpayer if they fail to register on time. This period begins 31 days after the missed registration deadline and ends the day before their actual registration. Importantly, this rule regarding the 30-day delay specifically applies to businesses operating within Slovakia.
You can be fined for incorrect data in the commercial register
14.07.2016
Changes to a company's details, such as a partner's address, name, or the share capital amount, may seem like minor trivialities at first glance, but this is far from the truth. According to Slovak la
Changes to a company's details, such as a partner's address, name, or the share capital amount, may seem like minor trivialities at first glance, but this is far from the truth. According to Slovak law (§5 par. 5 of Act No. 530/2003 Coll. on the Commercial Register), individuals registered in the commercial register, or those authorized to act on behalf of a registered legal entity, are obligated to submit a proposal for the registration of changed or deleted data within 30 days of the legal fact's effect. A member of the statutory body is responsible for informing the registry court of these changes. Failure to comply can result in a fine of up to €3,310 imposed directly on the responsible statutory body member. Neglecting to update information in the commercial register can lead to practical issues in everyday life, for example, when withdrawing money from a company's bank account if the director's ID details do not match the registered commercial register information. Similar complications can arise with postal services or during normal business transactions. Since July 1, 2016, a civil non-contentious procedure has been in effect, governing the process of aligning data in the commercial register with the actual legal status. Any party with a legitimate interest in ensuring a company has accurate registered data can initiate this procedure.
Methodological guideline for assignment of financial lease agreements
12.07.2016
As of January 1, 2015, the Income Tax Act no longer includes specific provisions for the assignment of financial lease agreements concerning the depreciation of tangible assets acquired through financ
As of January 1, 2015, the Income Tax Act no longer includes specific provisions for the assignment of financial lease agreements concerning the depreciation of tangible assets acquired through financial leasing. The amendment intended for lease assignments after this date to be treated as a purchase and sale of tangible assets.
To meet the legal requirement for the minimum lease term, upon assignment of a lease agreement after January 1, 2015, Section 532 of the Civil Code applies. This section states that when an obligation is assumed, the content of the obligation within the lease agreement remains unchanged. Therefore, if the assignment solely involves a change in the debtor's identity, the legally stipulated minimum lease term can be accepted for tax purposes for the agreement as a whole.
For a new lessee who takes over tangible assets acquired through leasing, the procedure upon assignment is the same as in a purchase: the new lessee accounts for the financial lease in the same manner as the original lessee. From the perspective of the Income Tax Act, after the new lessee puts the acquired tangible asset into use, they depreciate it as a newly acquired tangible asset over the depreciation period set for its respective depreciation group.
Electronic sales registration (EET) was adopted in the Czech Republic in April 2016. This law mandates businesses to electronically report all cash and card transactions to the tax administrator. The
Electronic sales registration (EET) was adopted in the Czech Republic in April 2016. This law mandates businesses to electronically report all cash and card transactions to the tax administrator. The system requires businesses to send transaction data in XML format via the internet. Upon receipt, the tax administrator issues a fiscal identification code, which must be printed on customer receipts. A simplified mode allows for delayed reporting within five days for specific cases.
Exemptions include municipalities, the Czech National Bank, Czech Post, financial and insurance services, energy sectors, and certain transportation payments. The implementation is phased, starting with accommodation and catering services in December 2016, followed by retail and wholesale in March 2017, other activities in March 2018, and selected crafts in June 2018. Customer engagement is encouraged through a "receipt lottery."
The government anticipates reduced tax evasion and increased tax revenue, projecting billions of Czech crowns in additional revenue. However, opposition parties criticize the system as a burden on small businesses and a step towards excessive state control, similar to Orwellian surveillance. The long-term impact on the business environment remains to be seen.
In Austria, companies exceeding a legally defined revenue threshold are obligated to use a cash register system as of May 2016. This requirement has been a subject of extensive debate, with some small
In Austria, companies exceeding a legally defined revenue threshold are obligated to use a cash register system as of May 2016. This requirement has been a subject of extensive debate, with some small business owners challenging it at the Constitutional Court, arguing it infringes upon property rights and freedom of trade, and imposes an undue financial burden. However, the Constitutional Court upheld the regulation, deeming cash registers an effective tool to reduce revenue manipulation and tax evasion, aligning with public interest and not imposing disproportionate restrictions on business freedoms.
The obligation to implement a cash register system in 2016 is triggered by reaching €15,000 in total revenue and over €7,500 in cash revenue. The requirement becomes effective four months after the tax period in which these thresholds are first exceeded. For example, revenue generated in January 2016 necessitates cash register use from June 2016. Austria's Finance Minister has indicated a potential increase of the revenue threshold to €30,000.
VAT payers with quarterly tax periods and lower revenues may have delayed obligations. If the revenue threshold is met in March 2016 for a quarterly filer, cash register use starts in July 2016. Reaching it in June pushes the obligation to October 2016, and reaching it in September 2016 defers the obligation to January 1, 2017.
Companies exceeding €30,000 in prior year revenue file VAT quarterly, while those exceeding €100,000 file monthly. Furthermore, all Austrian entrepreneurs (excluding vending machines until January 1, 2017) are mandated to issue a cash receipt for every cash transaction since January 1, 2016. These receipts must include company identification, document number, date, item description, quantity, and the cash payment amount. Businesses must retain a copy of each receipt for seven years.
In the Slovak Republic, since January 1, 2012, entrepreneurs selling goods or providing defined services, and meeting legally established conditions, are obligated to use electronic cash registers wit
In the Slovak Republic, since January 1, 2012, entrepreneurs selling goods or providing defined services, and meeting legally established conditions, are obligated to use electronic cash registers with a fiscal module. This obligation also applies to entrepreneurs residing or based outside the Slovak Republic if they sell goods or provide services within its territory.
Since April 1, 2015, the Slovak Financial Directorate has made a virtual cash register application available to entrepreneurs. This is a free application intended for entrepreneurs who issue no more than 1,000 documents within a single calendar month. Those exceeding this limit are required to use an electronic cash register. Failure to use an electronic cash register can result in a fine from the tax office ranging from €330 to €3,300.
Investment aid in Slovakia, governed by Law No. 561/2007 Coll., is available for industrial production, technological centers, strategic service centers, and tourism.
**Forms of A
**Investment Aid**
Investment aid in Slovakia, governed by Law No. 561/2007 Coll., is available for industrial production, technological centers, strategic service centers, and tourism.
**Forms of Aid:** * Grants for tangible and intangible long-term assets. * Income tax relief. * Contributions for creating new jobs. * Transfer/exchange of real estate at a reduced price.
**Eligible Costs:** * **Tangible Assets:** Land, buildings, machinery, technological equipment. * **Intangible Assets:** Know-how, patents, licenses, non-patented technical knowledge. * **Wage Costs:** For new jobs for 2 years. * Technologies must be new, acquired under market conditions, and manufactured no more than two years prior to acquisition.
**Specific Requirements:**
* **Technological Centers:** Minimum investment of EUR 500,000, at least EUR 250,000 in equity, minimum 70% of employees with university education, and at least 30 new jobs. * **Strategic Service Centers:** Minimum investment of EUR 400,000, at least EUR 200,000 in equity, minimum 60% of employees with university education, and at least 40 new jobs.
* **Industrial Production:** * Establishment of a new enterprise. * Expansion of production in an existing enterprise. * Diversification into new products. * Fundamental change of production program. * Minimum investment size depends on district unemployment and the proportion of new technological equipment. A minimum of 40 new jobs is required for all districts. * For expansions, a minimum 15% increase in production is required.
**Investment Thresholds and Equipment Share:** Minimum investment amounts and the required share of new technological equipment vary based on enterprise size (large vs. SME) and regional unemployment rates. Equity coverage is also stipulated.
**Aid Intensity:** The maximum investment aid intensity is a percentage of eligible costs, determined by the GDP per capita of the region. Western, Central, and Eastern Slovakia are eligible. The country is divided into 4 zones (A-D) for job creation contributions, with higher contributions in high unemployment areas.
**Key Conditions:** * Work on investment plans must not start before submission to the Ministry of Economy. * Investments must be maintained for 5 years after completion. * Jobs created must be maintained for 5 years from occupancy.
A company, Lansky, Ganzger & Partner Rechtsanwälte, spol. s r.o., is mentioned for assistance with investment plans.
Changes to Act No. 361/2014 Coll. on Motor Vehicle Tax and on Amendments and Supplements to Certain Acts (hereinafter referred to as the "Motor Vehicle Tax Act") from 1.1.2016
05.02.2016
An amendment to the Income Tax Act, approved on September 22, 2015, also introduced changes to the Motor Vehicle Tax Act. Notably, the determination of a taxpayer's local jurisdiction has changed. Loc
An amendment to the Income Tax Act, approved on September 22, 2015, also introduced changes to the Motor Vehicle Tax Act. Notably, the determination of a taxpayer's local jurisdiction has changed. Local jurisdiction will now be determined by the company's registered seat or the permanent residence of a natural person, instead of the vehicle's registration location, as was previously the case. Consequently, a taxpayer will have only one tax administrator.
The method of indicating payment and the account number for tax or advance tax payments are further detailed in the Motor Vehicle Tax section under "Payment Details."
Among other regulations related to motor vehicle tax, the following methodological guideline was issued in November 2015:
Methodological Guideline on the termination of tax liability according to § 8 para. 2 of Act No. 361/2014 Coll. on Motor Vehicle Tax and on Amendments and Supplements to Certain Acts in the event of termination or suspension of business, deregistration or temporary deregistration of a motor vehicle from the registry, and upon the death of a taxpayer.
Changes to Act No. 431/2002 Coll. on Accounting, as amended (hereinafter referred to as the "Accounting Act") from 1 January 2016
05.02.2016
The Accounting Act was amended in 2015 by Act No. 130/2015, with staggered effective dates of July 1, 2015, January 1, 2016, and January 1, 2017. This summary highlights key changes effective January
The Accounting Act was amended in 2015 by Act No. 130/2015, with staggered effective dates of July 1, 2015, January 1, 2016, and January 1, 2017. This summary highlights key changes effective January 1, 2016.
The definition of shareholding has been clarified to mean at least a twenty percent stake in another accounting entity held to foster a permanent link and contribute to the entity's activities. Public administration entities and self-employed individuals are no longer the sole entities barred from using a fiscal year; legal entities with state, municipal, or higher territorial self-governing unit ownership stakes are also excluded.
The format of the interim profit and loss statement now requires reporting information from the beginning of the accounting period up to the interim reporting date, as well as data from the immediately preceding period. Annual report requirements have been modified, including the scope of auditor verification. New provisions mandate large entities in extractive industries or forest clearing to publish annual reports on payments to public authorities, with exceptions for minor payments.
Consolidated financial statement obligations have been adjusted, excluding parent companies that do not meet size requirements or if obtaining information would be excessively costly or if subsidiary stakes are held solely for resale. The deadline for filing approved financial statements is now one year after the end of the accounting period.
The definition of acquisition cost now includes all related expenses and subsequent reductions. The valuation using reproduction acquisition cost is removed and replaced by fair value. New rules allow for the valuation of securities and shares intended for sale at fair value. Goodwill and capitalized development costs with indeterminate lifespans must now be amortized within five years. New accounting procedures effective December 31, 2015, also redefine accounts for receivables and payables related to shareholdings and interconnected entities, and address accounting for receivables and payables in restructuring cases and sponsorship claims.
Tax returns for personal and corporate income tax will be filed using new forms. These forms are available on the Financial Administration of the Slovak Republic portal in the "Catalog of Form Templat
Tax returns for personal and corporate income tax will be filed using new forms. These forms are available on the Financial Administration of the Slovak Republic portal in the "Catalog of Form Templates" section. Instructions for filling them out were published on October 27, 2015, and can be found on the website of the Ministry of Finance of the Slovak Republic (MF SR).
The original, unchanged forms will remain valid for 2016 for tax returns for value-added tax, control statements, recapitulative statements, motor vehicle tax returns, and reports on tax settlements and total income from dependent activities provided to individual employees. The financial statements for business accounting units under double-entry bookkeeping also remain unchanged. Starting from 2016, the MF SR is also changing the form for the "Overview of Withheld and Paid Tax Advances" for the 2016 tax period. The new version of this form is available on the Financial Administration of the Slovak Republic portal in the "Catalog of Form Templates" section.
**Summary:**
New tax return forms for personal and corporate income tax are now available on the Financial Administration of the Slovak Republic portal, with instructions provided by the Ministry of Finance. Notably, existing forms for VAT, control and recapitulative statements, motor vehicle tax, and employee income reports will remain unchanged for 2016. Similarly, accounting statements for double-entry bookkeeping entities will not be updated. However, a revised form for reporting withheld and paid tax advances for 2016 has been introduced and is also accessible on the Financial Administration's portal.
The minimum cost of living, tax bonus, and non-taxable amount for the taxpayer remain unchanged from 2015 for 2016. The income tax rates are 19% on income up to €2,918.53 and 25% on income exceeding t
The minimum cost of living, tax bonus, and non-taxable amount for the taxpayer remain unchanged from 2015 for 2016. The income tax rates are 19% on income up to €2,918.53 and 25% on income exceeding this amount. Students are exempt from pension insurance contributions on earnings up to €200 per month.
The minimum wage is €405, with the lowest gross hourly wage at €2.328. The night shift allowance is 20% of the hourly wage, amounting to €0.4656.
The minimum contribution base is €429, and the maximum is €4,290. For health insurance (ZP), employee contributions are capped at €171.60, and employer contributions at €429. For social insurance (SP), employee contributions are capped at €403.26, and employer contributions at €1,046.75.
This article provides key financial figures for Slovakia in 2016, including the minimum wage, tax thresholds, and contribution limits for social and health insurance. It details the unchanged living wage, tax bonus, and non-taxable amounts from the previous year. Specific figures for hourly wages, night shift allowances, and maximum contribution bases are also listed, along with the capped monthly insurance contributions for both employees and employers. The information is relevant for understanding the basic economic and tax landscape for individuals and businesses operating in Slovakia during that period.
Value Added Tax – Methodological Guidelines December 2015
04.02.2016
In the previous newsletter, we provided an overview of the most significant changes to the VAT Act effective from January 1, 2016. In December 2015, the Slovak Financial Directorate issued several met
In the previous newsletter, we provided an overview of the most significant changes to the VAT Act effective from January 1, 2016. In December 2015, the Slovak Financial Directorate issued several methodological instructions and guidelines that further regulate newly introduced provisions.
These include a methodological instruction on the special VAT adjustment based on payment receipt for goods or services according to § 68d of the VAT Act. Another instruction clarifies the transfer of tax liability for construction works under § 69 para. 12 letter j) of the VAT Act. A further guideline addresses the application of the reduced VAT rate for selected foodstuffs listed in Annex No. 7 of the VAT Act, effective from January 1, 2016. Guidance is also provided on classifying construction works into section F of the statistical classification of products by activity (CPA).
Additionally, the Slovak Financial Administration portal published methodological instructions concerning the adjustment of deducted tax on investment assets under § 54 of the VAT Act after January 1, 2016, instructions on tax security according to the VAT Act, and guidelines for applying VAT in cases of group registration, including Amendment No. 1.
The article is a review of recent VAT law changes and related guidance issued by the Slovak Financial Directorate. It covers specific adjustments to VAT application based on payment receipts, the transfer of tax liability for construction services, the reduced VAT rate on certain food items, and classification of construction works. It also details instructions on adjusting deducted VAT for investment assets post-2016, tax security, and group VAT registration.
Last July, we became new members of the Slovak-Austrian Chamber of Commerce (SOHK). On this occasion, SOHK organized a welcome cocktail for new members, where we had the opportunity to introduce our c
Last July, we became new members of the Slovak-Austrian Chamber of Commerce (SOHK). On this occasion, SOHK organized a welcome cocktail for new members, where we had the opportunity to introduce our company in more detail and meet other members personally.
From the international auditing network Moore Global Limited Network, a colleague from Austria, Werner Braun, partner from the Vienna branch of Moore Stephens City Treuhand, came to support us. We thank the excellent BRUNO WALTER SYMPHONY ORCHESTRA for the cultural experience and the great performance of works by Ludwig van Beethoven and Antonín Dvořák. We look forward to similar events organized by SOHK and believe they will strengthen our relationships and provide a space for closer cooperation with other chamber members.
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In July of last year, we joined the Slovak-Austrian Chamber of Commerce (SOHK). This milestone was celebrated with a welcome cocktail, offering a valuable opportunity to present our company and network with fellow members. We were honored by the presence of Werner Braun, a partner from Moore Stephens City Treuhand in Vienna, representing the international Moore Global network. The event was further enriched by a performance from the BRUNO WALTER SYMPHONY ORCHESTRA, whose rendition of Beethoven and Dvořák's works provided a memorable cultural experience. We anticipate future SOHK events, confident that they will foster stronger relationships and facilitate enhanced collaboration among our members.
How to Assess if You Are a Potential Candidate for a Transfer Pricing Tax Audit? Try the Following Test!
02.02.2016
If your answers to the following questions are affirmatively at least twice, transfer documentation should be a priority for your business!
Based on publicly available sources as well as the practica
If your answers to the following questions are affirmatively at least twice, transfer documentation should be a priority for your business!
Based on publicly available sources as well as the practical experience of our department, we offer you a small test.
1. Have you been incurring losses in recent tax periods? Is your overall gross profit margin or pre-tax profit margin relatively low or showing a downward trend? Long-term company losses without changes in business policy may indicate that the entity's business activities do not reflect the objective reality of its operations.
2. In the notes to the financial statements, in section N, do you only provide partial information regarding transactions with related parties? Incomplete information indicates either an intent to conceal information or a lack of sufficient attention to transfer pricing policy.
3. Do you have significant transactions with related parties located in a country with a lower tax burden? The more significant the transactions with jurisdictions having lower or zero tax rates, the higher the risk of profit shifting.
4. Does the total amount of royalties paid to other members of a multinational group in the tax period exceed 5% of your turnover or 30% of your operating profit before deducting royalties? Royalties are a risk area because determining their amount based on the arm's length principle is significantly more complex than for goods transactions. It is also important to assess whether economic benefits truly accrue from these royalties to individual group members.
5. Does the total amount of fees for services paid to other members of a multinational group in the tax period exceed 5% of your turnover or 10% of your operating profit? Services received represent a significant cost item. If their amount is high, there is a risk that costs were allocated to the tax entity without real economic benefit, solely for the purpose of reducing the tax base.
6. Does the total amount of interest paid in the tax period on loans or credits received from other members of a multinational group exceed 25% of your operating profit, or does debt financing represent more than 70% of total financing? The higher the proportion of debt financing from intra-group loans, the greater the financial dependence on the group, and thus the greater the interventions expected in transfer pricing policy.
7. Do you achieve significantly lower profitability compared to industry averages or other members of the group? Deviations from average industry values can often mean that transfer pricing has been adjusted, and such situations frequently require closer examination.
8. Have you carried out significant corporate restructurings during the tax period? The impacts of corporate restructurings can be extensive, as they involve the transfer of profit potential between countries, thus affecting the amount of tax paid in subsequent tax periods.
The tax administration uses various internal and external information sources to assess risky transactions from a transfer pricing perspective. Our specialists from the international taxation department will gladly assist you with preparing the documentation.
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This article suggests that if a business answers affirmatively to at least two of the presented questions, it should prioritize transfer documentation. The test comprises eight key areas that indicate potential transfer pricing risks. These include sustained losses, incomplete disclosure of related-party transactions, transactions with low-tax jurisdictions, significant royalty or service fee payments to group members, high levels of intra-group debt financing, lower profitability compared to industry peers, and corporate restructurings. The article highlights that the tax administration utilizes both internal and external information to evaluate these high-risk transactions, emphasizing the need for proper documentation to address potential scrutiny and profit shifting concerns. Specialists in international taxation are available to provide assistance with documentation preparation.
The procedure for issuing protective opinions against the General Anti-Avoidance Rule (GAAR) and the rules for reporting tax schemes (MDR) are distinct but share the common goal of counteracting tax a
The procedure for issuing protective opinions against the General Anti-Avoidance Rule (GAAR) and the rules for reporting tax schemes (MDR) are distinct but share the common goal of counteracting tax avoidance. The Chief of the National Tax Administration (KAS) is responsible for issuing protective opinions and should ensure a uniform interpretation of tax regulations for both GAAR and MDR.
Both mechanisms aim to prevent tax avoidance. GAAR allows tax authorities to challenge tax consequences if the primary or one of the main purposes of an action was to gain a tax benefit, and the method was artificial. MDR mandates the reporting of arrangements that could lead to tax benefits if they meet specific general characteristics. The crucial "main benefit" criterion, which signifies the primary motive for an arrangement, is central to both. In MDR, it determines the reporting obligation when a general characteristic is present, while in GAAR, it is a condition for applying the rule.
The main benefit criterion is met if a reasonable person, aiming for non-tax objectives, would choose a different course of action without the tax benefit, and if the tax benefit is the main or a principal anticipated gain from the arrangement. This involves three key elements: the tax benefit itself, the taxpayer's motivation for seeking it, and the existence of a reasonable alternative path without such a benefit.
The text highlights that even legal actions may be subject to MDR reporting if the tax benefit was the main motive and an alternative existed. GAAR, however, requires actions to be artificial or economically unjustified. Importantly, the absence of a reasonable alternative can prevent the main benefit criterion from being met in MDR, especially if the chosen structure is economically rational for non-tax reasons. Conversely, if the sole purpose is tax benefit and actions are artificial, the criterion is met.
Ultimately, while MDR and GAAR are separate legal institutions, their shared purpose in combating tax abuse necessitates a unified interpretation of their provisions, particularly concerning the main benefit criterion and the analysis of economic justification. This consistency is vital for legal certainty and taxpayer protection.
Internship and the Amendment to the Labor Code. What Will Change?
6/27/2025
Work seniority plays a crucial role in labor law, influencing benefits like seniority allowances and jubilee awards. With frequent amendments to the Labor Code, lawmakers are increasingly refining how
Work seniority plays a crucial role in labor law, influencing benefits like seniority allowances and jubilee awards. With frequent amendments to the Labor Code, lawmakers are increasingly refining how work seniority is calculated to align with modern employment realities. These changes, particularly regarding the inclusion of periods worked under civil law contracts, are of great interest to both employers and employees.
Currently, work seniority primarily includes periods of employment under contracts of employment, selection, appointment, and commission. It also encompasses periods of education. However, this practice leads to unequal treatment of employees, especially those who have worked under different legal frameworks than standard employment contracts.
On June 24, 2025, the Council of Ministers adopted a project from the Ministry of Family, Labor, and Social Policy. This groundbreaking initiative aims to revolutionize access to many employee entitlements and equalize opportunities for all workers, regardless of their contractual arrangements.
The proposed changes intend to include not only periods of employment and service but also periods of work and business activities that were subject to social insurance contributions. This includes periods of self-employment, working for self-employed individuals, performing mandate contracts or service contracts, agency agreements, and periods of business activity suspension for childcare purposes where social insurance contributions were paid.
Proof of work seniority will be provided through certificates issued by the Social Insurance Institution (ZUS) for periods subject to reporting, and through general rules of evidence for periods not reported to ZUS or for foreign work activities. The new regulations are set to take effect on January 1, 2026, allowing employers time to adjust their internal regulations and financial provisions for a smooth implementation.
Minimum income tax in CIT: analysis of methods for calculating the tax base and strategic recommendations for taxpayers
6/12/2025
The minimal income tax in CIT (Corporate Income Tax) is a new tax obligation effective from the beginning of 2024 in Poland. Companies must strategically choose between the classic or simplified metho
The minimal income tax in CIT (Corporate Income Tax) is a new tax obligation effective from the beginning of 2024 in Poland. Companies must strategically choose between the classic or simplified method of calculating the tax base. The classic method calculates the tax base by adding 1.5% of revenues, debt financing costs to related entities exceeding 30% of EBITDA, and costs of acquiring intangible services from related entities or tax havens exceeding 3 million PLN plus 5% of EBITDA. The simplified method sets the tax base at 3% of revenues. The choice depends on the cost structure, profitability, and tax risks.
The classic method allows for the consideration of actual operating costs and is preferable for entities with high EBITDA and low intra-group transaction costs, but is complex and prone to transfer pricing errors. The simplified method is straightforward and attractive for low-profitability entities with substantial intangible costs but doesn't allow for real operating cost deductions. Deductions from the tax base include reliefs specified in Article 18 of the CIT Act, income exempt from operations in PSI/SSE, and income excluded under Article 24ca para. 2.
The tax is declared and paid by the end of the third month following the tax year's end, and any overpayment can be deducted over the next three years. Taxpayers achieving a profitability rate above 2% in 2024 may be exempt from the minimum tax for 2025-2027. Businesses with significant intra-group costs or low profitability should consider the simplified method, while those with high EBITDA and transparent related-party transactions may benefit from the classic approach. The minimum tax requires careful cost policy and transfer pricing verification.
Loan from a partner vs. VAT and PCC – how to settle it correctly in 2025?
5/19/2025
This article discusses the tax implications of a loan granted by a shareholder to a capital company, specifically focusing on whether it should be subject to the tax on civil law transactions (PCC) or
This article discusses the tax implications of a loan granted by a shareholder to a capital company, specifically focusing on whether it should be subject to the tax on civil law transactions (PCC) or value-added tax (VAT).
Generally, loan agreements are subject to PCC at a rate of 0.5% of the loan amount. However, the PCC law exempts loans granted by a shareholder to a capital company, provided the shareholder is not conducting business activities. Tax authorities maintain that if the shareholder is also an entrepreneur, the loan is subject to VAT as a paid service, regardless of whether the shareholder's business is related to lending.
Administrative courts, however, offer a different perspective. They argue that if the shareholder grants the loan within the scope of their business activity, it's subject to VAT. If the shareholder isn't involved in financial activities and the loan is incidental, it should be subject to PCC. Regardless, VAT law provides an exemption for services related to granting loans. Therefore, a VAT-registered shareholder providing a loan to a capital company may not be obligated to pay VAT.
Estonian CIT and MDR: Where does tax planning end and a scheme begin?
에스토니아 법인세와 MDR: 어디까지가 절세이고 어디부터가 조세 회피인가?
5/16/2025
Estonian CIT and MDR raise concerns among entrepreneurs planning restructuring. The key question is where legal tax planning ends and the obligation to report a scheme begins. The Estonian CIT is inte
Estonian CIT and MDR raise concerns among entrepreneurs planning restructuring. The key question is where legal tax planning ends and the obligation to report a scheme begins. The Estonian CIT is intended to promote investment, development, and capital accumulation, not just optimization. Reorganizations preceding the adoption of Estonian CIT can trigger MDR reporting obligations if they primarily aim for tax benefits rather than business reasons.
The "main benefit test" in MDR is met if the primary goal is to obtain a tax advantage, outweighing economic objectives. The existence of an "alternative route" to achieve the same economic effect with less tax advantage also indicates the main benefit test is met. The Head of the National Fiscal Administration (Szef KAS) may deem actions artificial if a simpler, more tax-neutral approach was available but not chosen.
A favorable ruling example involved a reorganization with property acquisition, division, and new operating companies, deemed acceptable due to prevailing economic goals. Conversely, a negative ruling cited artificial transactions lacking business purpose, aimed at circumventing CIT regulations, leading to potential GAAR application. Actions must have economic sense. MDR reporting is required when the reorganization leads to significant tax benefits, lacks justification in actual business activity, and meets scheme hallmarks. Transparent documentation and a balance between tax and economic motivation are crucial. Estonian CIT is for investing firms, not aggressive optimizers. If tax deferral or avoidance is the main benefit, MDR or GAAR risks arise.
What does a medium-sized company and its investors need from an auditor? A tailor-made audit
中型公司及其投资者对审计有何需求?
量身定制的审计。
5/6/2025
Medium-sized enterprises are crucial for the Polish economy, demanding a practical approach to business from their owner-managers. They need audits that offer real support in management and developmen
Medium-sized enterprises are crucial for the Polish economy, demanding a practical approach to business from their owner-managers. They need audits that offer real support in management and development, emphasizing flexibility, efficiency, timeliness, and consistent communication. As these companies grow, they must transition from simplified management and accounting to more professional methods. Audits should go beyond formal evaluations, providing insights for managerial decisions.
A well-conducted audit, especially by auditors experienced with similar-sized firms, helps owners and managers understand the importance of aligning accounting policies with their operational scale, impacting management quality and providing investors with reliable decision-making foundations. Many medium-sized firms focus solely on tax accounting, leading to inaccurate financial assessments. A proactively managed balance sheet policy is essential for comprehensive reporting and effective management. Auditors play a crucial role in discussing, implementing, and monitoring appropriate presentation and valuation options.
Direct auditor contact is vital. Many medium-sized companies seeking new auditors cite difficulty reaching the lead auditor and high team turnover as problems. Consistent audit teams and direct contact with the lead auditor are essential for trust, continuous communication, and a deeper understanding of the company's operations, enabling proactive responses to changing circumstances and advisory support. Modern tools shorten audit times and precisely identify risks. Audits should assess more than just financial data.
One audit uncovered cybersecurity vulnerabilities in a manufacturing firm, which were addressed before causing significant losses. Tailored audits are investments in the future, with auditors understanding business realities and identifying risks to inform decisions. Combining efficiency, timeliness, team stability, and modern tools ensures audits provide real support and secure the company's future.
"Rzeczpospolita" Ranking 2025 – Moore Polska again in 9th place
4/16/2025
Moore Polska proudly announces its continued presence in the top tier of Polish audit firms, securing 9th place in the "Rzeczpospolita" and "Parkiet" Auditors Ranking for 2024, a position held consist
Moore Polska proudly announces its continued presence in the top tier of Polish audit firms, securing 9th place in the "Rzeczpospolita" and "Parkiet" Auditors Ranking for 2024, a position held consistently. This ranking considers audit revenues, completed audits, certified auditors, and involvement with listed companies. This achievement reflects the firm's dedication to quality, team development, modern solutions, and client trust.
Additionally, Moore Polska maintained its 10th position in the ranking of audit firms examining companies listed on the Warsaw Stock Exchange in 2025, solidifying its recognition within the public companies sector and reinforcing its reputation as a reliable partner for capital market clients.
Moore Polska participated in the 24th edition of the "Rzeczpospolita" Auditors Ranking, further confirming its market standing. The firm views this as a testament to its team's commitment, brand recognition, and investments in quality and innovation. Lidia Skudławska and Mateusz Żuchowski represented Moore Polska at the awards gala.
With over 35 years of experience, Moore Polska combines tradition with innovation, continually investing in its experts and modern audit tools. As part of the Moore Global network, the firm supports Polish companies expanding abroad and foreign investors in Poland. Moore Polska’s success is built on its 250+ specialists dedicated to high standards and client relationships. Moving forward, Moore Polska aims to invest in technology, ESG expertise, and support clients with non-financial reporting.
Transfer Pricing 2025 and the New US Customs Policy – What Do Businesses Need to Know?
4/4/2025
The implementation of customs policies and their impact on global trade, particularly focusing on the changes initiated by the new American administration, significantly affect transfer pricing strate
The implementation of customs policies and their impact on global trade, particularly focusing on the changes initiated by the new American administration, significantly affect transfer pricing strategies for multinational companies. Transfer pricing, which refers to the pricing of transactions between related entities, is heavily influenced by changes in tariff policies. Increased protectionism and the use of tariffs can force businesses to adjust their transfer pricing strategies to mitigate tax burdens and maintain competitiveness.
Companies may need to modify supply chains, adjust intercompany margins, revise pricing agreements, and re-evaluate their transfer pricing policies to optimize tax and customs obligations while adhering to international regulations. This includes analyzing new risks, updating benchmarking analyses, relocating production, and reassessing transaction profitability. US tariff changes can alter transaction models and pricing policies, requiring a thorough understanding of potential consequences to stay competitive and optimize costs. Polish tax authorities will scrutinize potential transfer pricing adjustments related to these tariffs to ensure they meet market criteria.
European businesses face challenges necessitating revisions of existing transfer pricing policies and methods, potentially leading to the creation of new transfer pricing models. Moore Polska Tax & Legal offers support in navigating these transfer pricing aspects to ensure compliance and optimization in 2025, helping companies minimize tax burdens and adapt pricing policies to new regulations.
E-office for a start-up and small business – how a virtual office supports business development
4/1/2025
Starting a business is challenging, especially balancing costs with a professional image for investors and clients. Many startups and small businesses are turning to virtual offices (e-biuro) for a so
Starting a business is challenging, especially balancing costs with a professional image for investors and clients. Many startups and small businesses are turning to virtual offices (e-biuro) for a solution.
A virtual office allows companies to operate professionally without rental costs, providing a prestigious address and support services. It helps small firms optimize expenses while maintaining a professional image. Instead of investing in physical office space, startups can allocate funds to marketing or product development. Virtual offices offer flexibility without long-term lease agreements.
A prestigious business address enhances a company’s credibility, attracting clients and partners. Virtual offices also save time by outsourcing office management tasks, such as mail handling and conference room rentals, allowing entrepreneurs to focus on business development and client relations.
Ultimately, virtual offices are an ideal choice for startups and small businesses seeking cost-effective, flexible, and convenient ways to operate professionally and concentrate on business growth. Moore Polska offers comprehensive virtual office services tailored to individual client needs, facilitating simpler and more effective development.
The Owner's Pulpit: How to Effectively Manage Company Finances and Make Better Business Decisions
3/26/2025
Do you have full control over your company's finances? Do you know which projects are profitable and which are losing money? Many entrepreneurs still make decisions based on intuition, leading to inef
Do you have full control over your company's finances? Do you know which projects are profitable and which are losing money? Many entrepreneurs still make decisions based on intuition, leading to inefficient management and financial losses.
The Owner's Dashboard, created in collaboration with ANT HEAP and Moore Polska, is a tool that allows you to monitor key financial indicators in one place, analyze profitability, and automate reporting. This means you no longer have to wonder where money disappears or spend hours manually analyzing data.
In this article, you'll learn how the Owner's Dashboard can help your company: optimize costs and increase profitability, track cash flow and avoid liquidity problems, automate reporting and save time.
Managing a company based on data rather than guesswork helps avoid wrong decisions and develop your business more effectively. Discover how to implement the Owner's Dashboard and better manage your company's finances.
Managing a business without data is a risk you cannot afford. Many business owners make decisions based on intuition. While this might work in the early stages of a business, managing finances becomes increasingly complex as the company grows. Lack of access to current, reliable data leads to suboptimal decisions, financial losses, and liquidity problems. How, then, can you effectively monitor key financial indicators, analyze profitability, and make better decisions? The answer is the Owner's Dashboard – a modern analytical tool that provides entrepreneurs with a comprehensive overview of their company's condition.
Many companies use several different accounting systems, Excel spreadsheets, or invoicing tools. Gathering data from these sources takes time, and their analysis is often chaotic, failing to provide a complete picture. This results in a lack of reliable information for decision-making and delays in responding to market changes. The Owner's Dashboard integrates data from various systems and presents it clearly, eliminating the need for manual reporting and enabling quick conclusions. This allows entrepreneurs to focus on strategic aspects of running their business instead of wasting time analyzing scattered information.
The Owner's Dashboard provides precise information about: the most profitable clients and services, the profitability of individual projects, and costs and their impact on operating margins. This enables informed decisions about eliminating unprofitable activities, optimizing costs, and better resource allocation. Liquidity problems are a major cause of business failures. Lack of cash flow control leads to situations where a company cannot meet its obligations, even if it shows a profit on paper. The Owner's Dashboard allows continuous monitoring of cash flows, forecasting future expenses and income, and identifying potential threats to financial stability. Traditional financial reporting is time-consuming and error-prone. The Owner's Dashboard automates the reporting process, integrating data from accounting systems, CRM, and invoicing tools. All key information is available in one place, allowing for quick decision-making and eliminating errors from manual data processing.
Controlling costs is as important as increasing revenue. Many businesses lack full insight into their spending structure, missing opportunities to optimize margins. The Owner's Dashboard allows for cost analysis by category, identification of inefficient spending, and optimization of the cost structure to increase profitability. The implementation process involves a financial audit, integration with accounting systems, and report configuration to automate analysis and improve data control.
Managing a company without reliable financial data is a risk that can lead to losses and liquidity problems. The Owner's Dashboard provides comprehensive information for effective financial management and sound business decisions. If you want full control over your company's financial situation, eliminate unnecessary costs, and automate reporting, the Owner's Dashboard is the solution you need. Contact us to learn how to implement the Owner's Dashboard in your company.
MDR – Main Benefit Criterion as a Condition of a Tax Scheme
3/13/2025
The Polish Tax Ordinance defines three types of tax schemes subject to mandatory reporting to the Head of the National Fiscal Administration (KAS): tax schemes, standardized tax schemes, and cross-bor
폴란드 조세법에 따르면, 특정 조세 기획(tax scheme)은 국세청장에게 의무적으로 보고해야 합니다. 보고 대상은 일반, 표준화, 국경 간 조세 기획의 세 가지 유형으로 나뉩니다. 어떤 거래 구조가 보고 대상인 '조세 기획'에 해당하는지는 몇 가지 기준으로 판단합니다. 핵심 기준은 '주된 이익 테스트'로, 이 테스트를 통과하면서 특정 요건을 갖추면 보고
The Polish Tax Ordinance defines three types of tax schemes subject to mandatory reporting to the Head of the National Fiscal Administration (KAS): tax schemes, standardized tax schemes, and cross-border tax schemes. A tax scheme is defined when one of the following occurs: the arrangement meets the main benefit test and possesses a general distinguishing feature (both must be met); the arrangement possesses a specific distinguishing feature (the main benefit test is not required); or the arrangement possesses another specific distinguishing feature (the main benefit test is also not required).
The main benefit test is met if, based on existing circumstances, a reasonable entity, guided by lawful objectives other than achieving a tax benefit, could have reasonably chosen an alternative course of action that would not result in the reasonably expected tax benefit from the arrangement. The tax benefit must be the main or one of the main benefits expected from the arrangement. A tax benefit includes non-creation, deferral, or reduction of tax liability, creation or overstatement of tax loss, creation of overpayment or right to tax refund, overstatement of overpayment or refund amount, and avoidance of tax collection by a payer.
The main benefit test is assessed considering whether a tax benefit exists, whether it is a primary motivator for the arrangement, and whether there was an alternative, reasonable course of action without the tax benefit. The explanation clarifies that utilizing legally provided tax reliefs and preferences generally does not trigger reporting obligations, unless the primary motivation is tax avoidance and an alternative route exists. Examples include economically justified expenses as costs of revenue. However, artificial arrangements like B2B employment without economic justification or contract splitting to utilize lower tax rates may meet the main benefit test. The analysis should objectively compare the taxpayer's situation before and after the arrangement, considering whether a rational entity would engage in the arrangement absent the expected tax benefit. The Minister of Finance confirmed the same.
폴란드 조세법에 따르면, 특정 조세 기획(tax scheme)은 국세청장에게 의무적으로 보고해야 합니다. 보고 대상은 일반, 표준화, 국경 간 조세 기획의 세 가지 유형으로 나뉩니다. 어떤 거래 구조가 보고 대상인 '조세 기획'에 해당하는지는 몇 가지 기준으로 판단합니다. 핵심 기준은 '주된 이익 테스트'로, 이 테스트를 통과하면서 특정 요건을 갖추면 보고 대상이 됩니다. 또한, 이 테스트와 무관하게 그 자체만으로 보고 대상이 되는 특정 유형의 거래 구조도 있습니다.
주된 이익 테스트는 해당 거래 구조의 주된 목적이 세금 혜택인지를 판단하는 기준입니다. 만약 합리적인 제3자가 세금 혜택 외의 다른 합법적 목적을 추구했다면, 굳이 그 방법을 선택하지 않았을 것이라고 판단될 때 이 테스트를 통과한 것으로 봅니다. 즉, 세금 혜택이 그 거래를 선택한 주된 동기 중 하나여야 합니다. 여기서 말하는 세금 혜택이란, 세금 납부를 줄이거나 늦추는 것, 세무상 손실을 만들거나 부풀리는 것, 과오납금이나 세금 환급 권리를 발생시키거나 그 금액을 늘리는 것, 그리고 납세자의 세금 징수를 회피하는 행위 등을 포함합니다.
주된 이익 테스트를 평가할 때는 세금 혜택의 존재 여부, 그것이 거래의 주된 동기였는지, 그리고 세금 혜택이 없는 다른 합리적인 대안이 있었는지를 종합적으로 고려합니다. 정부는 법적으로 보장된 세금 감면이나 우대 조치를 활용하는 것 자체는 일반적으로 보고 대상이 아니라고 설명합니다. 예를 들어, 경제적 타당성이 있는 비용을 사업 소득의 필요경비로 처리하는 것은 문제가 되지 않습니다. 하지만 주된 동기가 조세 회피이고 다른 합리적 대안이 있었다면 문제가 될 수 있습니다. 경제적 실질 없이 개인사업자(B2B) 계약 형태로 고용하거나, 낮은 세율을 적용받기 위해 계약을 인위적으로 쪼개는 행위 등이 여기에 해당할 수 있습니다. 결론적으로, 분석의 핵심은 해당 거래 구조가 없었을 때와 있었을 때의 상황을 객관적으로 비교하여, 만약 세금 혜택이 없었다면 합리적인 사람이 과연 그 거래를 했을 것인지를 따져보는 것입니다. 이는 폴란드 재무부 장관이 확인한 공식적인 입장이기도 합니다.
What was the purpose of introducing mandatory disclosure of tax schemes (MDR)?
3/11/2025
The Polish legal framework for reporting tax schemes (MDR) is established in the Tax Ordinance, specifically in Chapter 11a of Title III, Articles 86a to 86o. These provisions, effective from January
The Polish legal framework for reporting tax schemes (MDR) is established in the Tax Ordinance, specifically in Chapter 11a of Title III, Articles 86a to 86o. These provisions, effective from January 1, 2019, implement Council Directive (EU) 2018/822 (DAC6), mandating the automatic exchange of information on reportable cross-border tax arrangements. The global necessity for MDR arises from weaknesses in national tax systems that facilitate Base Erosion and Profit Shifting (BEPS) by multinational corporations, leading to a loss of tax revenue and eroding trust in fiscal systems.
MDR serves as a tool to combat tax avoidance, aligning with the OECD's Action 12 recommendations. Its core objectives are transparency and prevention, aiming to provide tax authorities with comprehensive information on potentially aggressive tax planning. This allows for swift identification and mitigation of tax loopholes and harmful practices, as highlighted by the Luxleaks scandal. By equipping tax administrations with timely data on tax schemes, MDR enables more accurate risk assessment, targeted audits, and proactive legislative responses. This ultimately protects state revenues and ensures fair competition by preventing businesses from gaining an unfair advantage through aggressive tax planning. The system also aims to deter tax advisors and taxpayers from engaging in such schemes and provides valuable data for analyzing the effectiveness of tax reliefs. While the EU is standardizing information exchange, the report by the European Court of Auditors indicates that the effective utilization of this data for risk analysis remains a challenge for tax administrations.
The Polish legal framework for reporting tax schemes (MDR) is based on the Tax Ordinance and implements EU Directive DAC6. This legislation aims to combat tax avoidance and profit shifting, driven by global initiatives like the OECD's BEPS project. The core objectives of MDR are to increase transparency and provide tax authorities with early access to information on potentially aggressive tax planning. This enables quicker risk assessment, targeted enforcement, and legislative adjustments to close loopholes. The system also aims to deter the use of such schemes and provides data for analyzing tax reliefs. While the EU is promoting information exchange on cross-border tax schemes, a recent report suggests that the effective analysis and utilization of this data by tax administrations is still a challenge. MDR seeks to enhance tax revenue protection and ensure fair competition by preventing businesses from gaining an unfair advantage through aggressive tax planning.
Women's Day – Women as the Foundation of Moore Polska's Success and Changes in the Business World
国際女性デー:Moore Polskaの成功の礎となる女性たちと、ビジネス界の変化
세계 여성의 날: 무어 폴스카 성공의 초석이자 비즈니스 세계의 변화를 이끄는 여성들
3/7/2025
Gender equality, pay transparency, and increased female representation in leadership are not just contemporary business challenges but also crucial elements for sustainable development. For over three
Gender equality, pay transparency, and increased female representation in leadership are not just contemporary business challenges but also crucial elements for sustainable development. For over three decades, Moore Polska has demonstrated that women are the foundation of organizational success, shaping its history, strategy, and inspiring future generations of leaders.
To mark Women's Day, Moore Polska highlights the vital role of women, discusses recent EU regulations on gender equality and pay transparency, and expresses gratitude for their contributions. The company's history is intrinsically linked to women's dedication, expertise, and vision, which have driven its growth as a leading audit and advisory firm in Poland.
Founded in 1989 and expanded in 1992, Moore Polska now employs over 270 people, with women comprising more than 80%. These women are instrumental in the organization's management and strategic direction, fostering innovation and professional development.
The European Union has introduced new regulations to promote gender equality. The "Women on Boards" directive (2022) mandates that by June 2026, listed companies must have at least 40% women on supervisory boards or 33% in total management positions. The pay transparency directive (2023/970) aims to close the gender pay gap by requiring salary reporting, granting employees access to pay information, prohibiting pay secrecy clauses, and mandating corrective actions for significant gender pay disparities.
Gender equality is vital for business, leading to better financial performance, higher employee engagement, talent attraction, and increased innovation. Moore Polska actively promotes equal opportunities, gender diversity, and pay transparency, with women holding 82% of positions and 83% of director roles. The company thanks all women for their dedication and contributions, wishing them continued success and fulfillment.
How Manufacturers Can Lay the Foundation for Long-Term Strategic Growth
3/5/2025
A recent survey of manufacturing leaders by Make UK indicates that 2025 will be another challenging year, with rising costs and economic pressures testing their resilience. However, the study also hig
A recent survey of manufacturing leaders by Make UK indicates that 2025 will be another challenging year, with rising costs and economic pressures testing their resilience. However, the study also highlights significant opportunities, as 50% of companies plan to increase investment in new product development, market expansion, and talent growth. These investments are partly driven by the belief that technology, particularly automation, can boost productivity and mitigate the impact of upcoming increases in national insurance contributions and the minimum wage.
Despite this optimistic outlook, uncertainty remains a major hurdle, preventing companies from fully realizing their investment potential. A significant majority (57%) are waiting for a government-backed industrial strategy before committing to increased investment. This reactive approach can lead to stalled plans for automation, innovation, and expansion if such a strategy never materializes. The article emphasizes the importance of proactive, strategic planning, particularly a three- to five-year plan, to navigate disruptions and ensure sustainable growth. Businesses that focus solely on the next 12-24 months are more vulnerable than those with a longer-term vision.
Sustainability is presented as a strong foundation for long-term planning, encouraging a focus on lasting value and operational optimization, which can lead to lower costs, access to growing markets, and improved employee retention. The article also stresses the need for introspection, asking critical questions about a company's current state, future vision, and the changes required to achieve it. This includes the potential need for restructuring. The Polish manufacturing sector faces similar challenges of regulatory uncertainty and rising costs, making strategic business planning and investment in efficiency and automation crucial for competitive advantage. Ultimately, the message is clear: manufacturers must take control of their future by investing in innovation, prioritizing sustainability, and planning strategically, transforming 2025 from a year of uncertainty into one of transformation and growth.
Mandatory Professional Development (ODZ) for Statutory Auditors – Training within the Moore Polska Academy
3/4/2025
In today's rapidly evolving professional landscape, continuous professional development is crucial for auditors to maintain the highest quality of service. Moore Polska, a recognized audit firm, has b
In today's rapidly evolving professional landscape, continuous professional development is crucial for auditors to maintain the highest quality of service. Moore Polska, a recognized audit firm, has become an authorized provider of training for Mandatory Professional Development (ODZ) in Poland, starting from 2025. This means auditors can now fulfill their legal obligation for ongoing education through a reputable source, ensuring their knowledge of new regulations, accounting standards, and auditing practices remains current.
Moore Polska's ODZ training will be delivered by leading industry specialists, including firm partners and external experts, guaranteeing high-quality, practical knowledge directly applicable to auditors' daily work. The curriculum, approved by the National Chamber of Statutory Auditors (KRBR), will cover essential topics such as legislative changes, the latest accounting and auditing standards, technological innovations in auditing, and best practices in financial reporting. This initiative offers a convenient, one-stop solution for auditors associated with Moore Polska, eliminating the need to seek training elsewhere.
Moore Polska's commitment to professional growth is evident in its approach, focusing on attendee needs and utilizing modern teaching methods like practical workshops, case studies, and interactive sessions with experts. Information regarding training offerings will be readily available on their website and social media channels, allowing auditors to stay updated and schedule training conveniently. This move by Moore Polska underscores its dedication to providing comprehensive support and development opportunities for auditors.
Simplified ESG regulations – less bureaucracy, more benefits for companies
2/27/2025
New ESG regulations represent a breakthrough for entrepreneurs, promising reduced bureaucracy, lower administrative costs, and enhanced access to green financing. The European Commission has simplifie
New ESG regulations represent a breakthrough for entrepreneurs, promising reduced bureaucracy, lower administrative costs, and enhanced access to green financing. The European Commission has simplified reporting obligations, eased burdens for small and medium-sized enterprises (SMEs), and facilitated capital acquisition for sustainable development, as announced on February 26, 2025. These changes aim to make ESG compliance more manageable and beneficial.
Key reforms include a significant reduction in reporting duties, excluding approximately 80% of companies from ESG reporting under the CSRD directive, primarily benefiting smaller businesses. Reporting deadlines are deferred to 2028, allowing firms more time to adapt, and the scope of reporting is narrowed to focus on essential business aspects. This simplification is expected to save EU companies over €6 billion annually and attract an additional €50 billion in investments.
Furthermore, access to sustainable financing is improved through voluntary ESG reporting incentives, a 70% reduction in reporting forms, and simplified "do no significant harm" (DNSH) criteria. Changes to due diligence requirements (CSDDD) focus on direct business partners and reduce monitoring frequency, with relaxed obligations for SMEs. The Carbon Border Adjustment Mechanism (CBAM) also sees simplification, exempting 90% of small importers and streamlining emissions reporting. The reform also includes an additional €50 billion for green investments. Ultimately, adopting ESG strategies is presented not just as an obligation but as a competitive advantage, fostering investor interest, customer loyalty, and long-term stability.
Bank Activity Report – Requirements, Deadlines, Key Information
银行活动报告:要求、截止日期与关键信息
은행 거래 보고서 – 필수 요건, 제출 기한, 주요 정보
2/25/2025
Banks are required to prepare a business activity report that summarizes their performance over the financial year. This report must detail the entity's current financial and asset situation, outline
Banks are required to prepare a business activity report that summarizes their performance over the financial year. This report must detail the entity's current financial and asset situation, outline associated risks, and describe significant events impacting operations and future development.
Key components include: 1. Significant events during and after the financial year, up to the approval of the financial statements. 2. The entity's expected development. 3. Major research and development achievements. 4. The current and projected financial standing. 5. Details on treasury shares, including acquisition reasons, number and value of shares bought and sold, their nominal or book value, and the portion of share capital they represent. 6. Information on the entity's branches or establishments. 7. Financial instruments, covering price, credit, cash flow disruption, and liquidity risks, alongside risk management strategies and hedging practices.
For banks operating in multiple member states and third countries, the report must include consolidated information per country: geographical location, turnover, full-time equivalent employees, profit/loss before tax, income tax, and any public financial support received, particularly from the state for financial institutions. It also requires information on the return on assets and details regarding specific agreements or their absence.
The business activity report is prepared alongside the annual financial statements within three months of the balance sheet date, with the entity's management being responsible for its content. It requires the signature of the management or its authorized representatives and must be approved and submitted to the National Court Register.
Summary: Banks must prepare a business activity report alongside their annual financial statements, detailing financial health, risks, and future outlook. This comprehensive document covers significant events, R&D achievements, treasury share details, branch information, and financial instrument risks, along with risk management strategies. For banks operating internationally, country-specific consolidated data on turnover, employees, and financial performance is mandatory. The report also requires disclosure of public financial support and relevant agreements. Management is responsible for the report’s accuracy, which must be signed and approved by the relevant authorities before submission to the National Court Register within three months of the financial year-end.
Staffing and Payroll – Comprehensive Support from Moore Polska
2/20/2025
Human resources and payroll are critical for any company. Accurate management of employee documentation, salary calculation, and employment processes demands precision, legal knowledge, and organized
Human resources and payroll are critical for any company. Accurate management of employee documentation, salary calculation, and employment processes demands precision, legal knowledge, and organized workflows. Moore Polska, with over 30 years of experience, offers comprehensive HR and payroll services, tailoring solutions to each business's unique needs.
Our services enable companies to focus on core objectives while reducing the burden of personnel management. Moore Polska's expert team makes HR and payroll processes more efficient and manageable.
Errors in payroll, outdated employee records, or missed employment formalities can lead to financial and reputational damage. This is why many firms outsource these functions to specialists. Moore Polska provides integrated services and modern solutions, combining labor law, tax expertise, and technology for complete support.
Our services include meticulous employee record-keeping (both paper and electronic), contract preparation, monitoring of medical check-ups and safety training, and managing benefit cards and absence records. We also handle precise salary calculations, including payroll processing, tax and ZUS settlements, bonus calculations, and management compensation. We assist with the complexities of hiring foreign employees, including legalizing their stay and work, preparing documentation, and managing administrative aspects.
Our audits verify employee documentation and HR processes, identifying areas for optimization and implementing effective solutions. We also support clients during inspections by institutions like ZUS and the State Labour Inspectorate, ensuring smooth operations and professionalism.
Moore Polska serves diverse industries, from small and medium-sized enterprises to large corporations, handling payroll for 4,667 employees and HR for 2,057. With service centers across Poland, we ensure nationwide support. We specialize in automating and digitizing processes, providing fast, efficient, and customized services with easy data access and reduced errors.
Choosing Moore Polska means gaining time for business development, benefiting from expert knowledge of constantly evolving regulations, and ensuring full transparency through regular reports. We are your trusted business partner, helping you streamline administration, minimize risk, and focus on growth.
Contact us to discover how Moore Polska can help your company achieve new successes.
Moore Polska offers comprehensive HR and payroll services, leveraging over 30 years of experience to support businesses of all sizes. They handle critical tasks like employee documentation, salary calculations, and employment processes with precision and legal expertise. By outsourcing these functions to Moore Polska, companies can focus on core business objectives, reduce administrative burdens, and minimize the risks associated with payroll errors or compliance issues.
Their services encompass meticulous record-keeping, accurate salary processing, and assistance with hiring foreign employees. Moore Polska also provides audits to optimize HR processes and supports clients during regulatory inspections. Utilizing modern technology and a team of experts, they ensure efficient, transparent, and tailored solutions to help businesses thrive. They are a trusted partner dedicated to simplifying HR and payroll, allowing clients to concentrate on growth and success.
New Polish Classification of Activities (PKD) 2025 – the most important changes for companies
2025年ポーランド新事業活動分類(PKD):企業向けの最重要変更点
2/19/2025
The New Polish Classification of Activities (PKD 2025) is effective from January 1, 2025, with a transition period until the end of 2026. This updated system aims to align Polish economic activity cla
2025년 1월 1일부터 새로운 폴란드 산업분류(PKD 2025)가 시행되며, 2026년 말까지 전환 기간이 적용됩니다. 이번 개편은 변화하는 시장, 기술, 사회적 현실을 반영하고, 특히 디지털, 순환, 바이오 경제와 같은 분야에서 유럽연합(EU)의 경제 통계 기준과 일치시키기 위해 추진되었습니다.
주요 변경 사항으로는 산업 부문을 더욱 명확하게 재편하고
The New Polish Classification of Activities (PKD 2025) is effective from January 1, 2025, with a transition period until the end of 2026. This updated system aims to align Polish economic activity classifications with evolving market, technological, and social realities, as well as harmonize economic statistics across the European Union, particularly in areas like the digital, circular, and bio-economies.
The changes involve reorganizing and segregating economic sectors and activities for better clarity and ease of identification. This includes adding new classification symbols, dividing or merging existing ones, modifying the wording of certain groups to expand or narrow their scope, and relocating some sub-classes. New groupings have also been created for activities not previously separately distinguished.
For businesses, new entities starting after January 1, 2025, will use PKD 2025. Existing businesses have two years to update their PKD codes. Failure to do so will result in automatic reclassification based on transition keys developed by GUS. This update ensures that company registrations accurately reflect current business operations and comply with EU standards.
2025년 1월 1일부터 새로운 폴란드 산업분류(PKD 2025)가 시행되며, 2026년 말까지 전환 기간이 적용됩니다. 이번 개편은 변화하는 시장, 기술, 사회적 현실을 반영하고, 특히 디지털, 순환, 바이오 경제와 같은 분야에서 유럽연합(EU)의 경제 통계 기준과 일치시키기 위해 추진되었습니다.
주요 변경 사항으로는 산업 부문을 더욱 명확하게 재편하고 세분화하여 식별이 용이하도록 했습니다. 이에 따라 새로운 분류 코드가 추가되거나, 기존 코드가 통합 또는 분리됩니다. 일부 활동은 범위가 확대 또는 축소되거나 다른 분류로 이동하며, 기존에 없던 새로운 산업 그룹도 신설됩니다.
2025년 1월 1일 이후에 설립되는 신규 사업자는 PKD 2025를 사용해야 합니다. 기존 사업자는 2년 안에 PKD 코드를 변경해야 하며, 이 기간 내에 변경하지 않으면 통계청(GUS)이 마련한 전환 기준에 따라 코드가 자동으로 변경됩니다. 이번 개정은 기업 정보가 실제 사업 내용을 정확하게 나타내고, EU 기준을 준수하도록 보장하기 위한 것입니다.
Sale of Materials – Key Changes Following the Amendment to the Accounting Act 2025
資材販売 ― 2025年会計法改正に伴う主な変更点
자재 매출: 2025년 회계법 개정에 따른 주요 변경사항
2/17/2025
A new amendment to the Accounting Act, effective January 1, 2025, introduces significant changes regarding the sale of materials, impacting financial statements for periods starting after December 31,
A new amendment to the Accounting Act, effective January 1, 2025, introduces significant changes regarding the sale of materials, impacting financial statements for periods starting after December 31, 2023. Previously, many entities didn't deeply differentiate between goods and materials due to a lack of significant consequences and necessary tools.
The core challenges lie in precisely defining and distinguishing between goods (purchased for resale in their original form) and materials (acquired for own consumption). This distinction becomes complex in scenarios involving items used for both internal needs and resale, like production waste sold as scrap, or spare parts for machinery that are also sold.
The amendment mandates a retrospective application of these changes, generally requiring a full retrospective approach unless practically impossible. This means restating prior periods, which can be technically challenging, potentially requiring system adjustments and careful estimation of impacts. Companies must diligently implement these changes to ensure compliance and accurate financial reporting, even if it requires significant effort to adapt accounting and reporting tools. The lack of precise estimation does not justify ignoring the changes.
audyt,sprzedaż materiałów,UoR,ustawa o rachunkowości,zmiany
Audit – Moore Polska Experts' Support for Your Company's Stability and Development
監査 – ムーア・ポーランドの専門家が支える、貴社の安定と発展
2/13/2025
Audit is a crucial element of financial management in a company, especially in a dynamically changing business environment. Moore Polska, with over 30 years of experience, offers comprehensive audit s
Audit is a crucial element of financial management in a company, especially in a dynamically changing business environment. Moore Polska, with over 30 years of experience, offers comprehensive audit services to help companies achieve better financial results, build stakeholder trust, and avoid risks associated with financial documentation irregularities. Their goal is not only to verify financial statements but also to provide valuable recommendations supporting client development, adhering to the highest standards with flexible, tailored solutions.
Financial audit is a strategic tool for risk management, improving internal processes, and increasing transparency. Moore Polska understands that each organization is unique, hence their approach involves a deep understanding of the client's business specifics. Their assurance audit services confirm the reliability and clarity of financial statements, including verifying accounting systems, identifying risks, testing data reliability, and preparing audit reports with management recommendations. They also support company transformations and mergers with asset value verification and court document assessments. Moore Polska assists with International Financial Reporting Standards (IFRS) adoption, focusing on analyzing differences, identifying valuation needs, and preparing financial statements under new standards. They also support companies preparing for stock exchange debuts by verifying financial data, preparing historical financial information sections, and providing comfort letters. Internal audit activities focus on verifying internal control systems, identifying risk areas, and recommending process improvements. Their audit process emphasizes close client collaboration, understanding business specifics, identifying risks, conducting tests, and summarizing findings with actionable recommendations. Moore Polska's team of over 250 experts across various industries offers tailored services that go beyond data analysis to identify improvement opportunities for business growth. They are a partner for companies seeking to enhance financial stability, manage risk, and build stakeholder trust.
Audit is a vital tool for financial management and business development. Moore Polska provides comprehensive audit services, leveraging over 30 years of experience to help companies improve financial performance, build stakeholder confidence, and mitigate risks. Their approach goes beyond mere verification of financial statements; they deliver actionable recommendations to foster growth. Financial audits serve as strategic instruments for enhanced risk management, streamlined internal processes, and increased transparency, significantly influencing investor and creditor decisions. Moore Polska tailors its services to the unique needs of each client, ensuring thorough analysis, risk identification, data reliability testing, and the preparation of insightful reports. They also specialize in supporting company transformations, IFRS adoption, and stock exchange listings, providing expertise in financial data verification, comfort letters, and compliance with reporting standards. Their internal audit services focus on improving internal control systems and business processes. Moore Polska's collaborative audit process prioritizes understanding client specifics and delivering added value through practical recommendations. Choosing Moore Polska means partnering with a team dedicated to optimizing financial operations and driving business success through expert audit insights.
A virtual office is a modern, flexible solution for businesses aiming to reduce operational costs while securing a professional registration address and comprehensive office services. Choosing the rig
A virtual office is a modern, flexible solution for businesses aiming to reduce operational costs while securing a professional registration address and comprehensive office services. Choosing the right virtual office is crucial for a company's image and functionality. This guide helps make the best selection by focusing on key aspects:
First, define your business needs. Prioritize services like a prestigious address, mail handling (scanning, forwarding), conference room access, or administrative/legal/accounting support. Flexible service packages tailored to individual requirements are essential.
Second, select an appropriate location. A prestigious city center address enhances credibility and client trust. Consider the prestige of the district, good transportation links for meeting facilities, and the reputation of the address itself, noting existing registered businesses.
Third, check customer reviews. Positive feedback indicates quality service, while negative comments may signal potential issues. Look for recurring problems or strengths on review platforms and industry sites.
Fourth, evaluate the quality-to-price ratio. Compare available options, ensuring the price reflects the offered services. Check for included basic services, potential hidden fees, and the flexibility to change service packages.
Fifth, prioritize flexible contracts. Ensure you can adjust service scopes, understand termination conditions, and identify any grace periods.
Sixth, assess additional services. A good virtual office offers more than just an address, including phone answering, accounting/legal support, virtual secretariat, and compliance services.
Finally, verify technical and administrative support. Look for professional support, potentially via an app offering document access and meeting room bookings.
Choosing the right virtual office is a critical decision that can provide a prestigious address, professional services, and cost savings for business growth.
A virtual office is a modern and flexible solution for businesses seeking to reduce operational costs while obtaining a professional business registration address and comprehensive office services. The choice of a virtual office significantly impacts a company's image and operations. This article provides a detailed guide to making the best selection.
Firstly, identify your business needs. Determine which services are most important, whether it's a prestigious registration address, mail handling and scanning, access to conference rooms, or administrative, legal, or accounting support. Virtual offices should offer flexible packages adaptable to individual requirements.
Secondly, select an appropriate location. The office location is key to a company's image. A prestigious address enhances credibility and builds client trust. Consider the prestige of the district, good communication for conference room access, and the reputation of the address, checking existing registered businesses.
Thirdly, review customer feedback. Good reviews indicate quality service, while negative comments serve as a warning. Check reviews on Google and industry websites, noting recurring issues and strengths.
Fourthly, assess the value for money. Compare different virtual office options, ensuring the price aligns with the offered services. Look out for hidden costs and the ease of changing service packages.
Fifthly, prioritize flexible contracts. Ensure the contract allows for changes in service scope, clearly outlines termination conditions, and includes any implementation grace periods.
Sixthly, explore additional services. Beyond registration, good virtual offices offer phone answering, accounting and legal support, virtual secretarial services, and compliance assistance.
Finally, check for technical and administrative support. Professional support, perhaps through an application for document access and booking facilities, is crucial.
Making the right virtual office choice is vital for securing a prestigious address, professional services, and cost savings to foster business growth.
Keywords: business, e-offices, business needs, virtual offices
Stabil and Moore Polska Merger: A New Chapter in the Spirit of Development and Tradition
2/7/2025
As the new year begins, the Polish accounting and bookkeeping services market has seen a significant development with the merger of Stabil and Moore Polska. This strategic alliance combines Stabil's n
As the new year begins, the Polish accounting and bookkeeping services market has seen a significant development with the merger of Stabil and Moore Polska. This strategic alliance combines Stabil's nearly 35-year history of personalized service, rooted in family values, with Moore Polska's global reach and modern solutions. Stabil, a Warsaw-based firm founded by Magdalena Karska-Podwójcic's father, has always prioritized quality and close client relationships. However, evolving business demands, including data protection and digital processes, necessitated a stronger resource base.
Moore Polska, formed in 2022 from the merger of Moore Rewit and Morison Finansista, is part of the international Moore Global network. It employs over 270 specialists across 11 offices and offers a wide range of services, from accounting and tax advisory to ESG reporting, while maintaining a family atmosphere. This union allows Stabil's clients access to global resources and innovative technologies without losing the essential individual approach. For Moore Polska, it strengthens their position in the Warsaw market and reinforces their commitment to family values. Both companies share a dedication to tradition and continuous development, aiming to provide enhanced services, greater stability, and expanded opportunities for clients and employees alike, emphasizing that "together we can achieve more."
March with ESG at Moore Polska – prepare for new challenges!
2/5/2025
The year 2025 marks a significant shift in ESG reporting due to the implementation of the CSRD directive and the introduction of the European Sustainability Reporting Standards (ESRS). This mandates t
The year 2025 marks a significant shift in ESG reporting due to the implementation of the CSRD directive and the introduction of the European Sustainability Reporting Standards (ESRS). This mandates that companies adhere to specific, clear standards, moving away from arbitrary reporting. Moore Polska is offering ESG training throughout March to help businesses navigate this new regulatory landscape.
The training aims to provide practical tools and theoretical knowledge on CSRD and ESRS, covering crucial topics like reporting environmental, social, and governance (ESG) indicators, understanding CSRD’s implications, avoiding greenwashing, conducting double materiality analysis, board responsibilities, and how ESG impacts business strategy and stakeholder relations. Justyna Walas-Ryba, Moore Polska's ESG Director, will lead the sessions, emphasizing ESG as a competitive advantage and a driver of long-term value.
Participating in these trainings offers benefits such as better regulatory preparation, enhanced competitiveness, risk minimization, increased transparency, building a responsible organization, access to expert advice, and process optimization. Moore Polska's Academy provides comprehensive support, blending theory with practical application to equip companies for effective ESG implementation and reporting, ensuring they can thrive in the evolving business environment where sustainability is a fundamental aspect of modern business.
The dynamically changing tax regulations present a challenge for entrepreneurs and financial and accounting departments, who must constantly adapt to new requirements. In response to these needs, we h
The dynamically changing tax regulations present a challenge for entrepreneurs and financial and accounting departments, who must constantly adapt to new requirements. In response to these needs, we have prepared a comprehensive overview of tax obligations for 2025, which will help you effectively manage your liabilities and avoid potential risks.
Our publication contains detailed information on key deadlines, rates, and obligations arising from tax law.
**Tax Obligations 2025. What does our table include?**
* Transfer Pricing * MDR Procedure * Reporting on Tax Strategy Implementation * Withholding Tax * CBC Reporting * Global Minimum Tax * Equalization Tax * VAT OSS Declaration * Small Taxpayer Status for CIT * Accounting Record Keeping * Dividend Payments
Sign up for our newsletter and receive a gift: A table of basic tax obligations.
**Tax Obligations 2025**
We invite you to contact us at seweryn.tomaszewski@moorepolska.pl
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The rapidly evolving tax landscape poses significant challenges for businesses and their finance departments, necessitating continuous adaptation to new legal requirements. To address this, a comprehensive guide to 2025 tax obligations has been developed. This resource aims to assist businesses in effectively managing their financial liabilities and mitigating potential risks.
The guide provides in-depth information regarding crucial deadlines, applicable tax rates, and specific duties mandated by tax legislation. Key areas covered include transfer pricing, the MDR procedure, reporting on tax strategy implementation, withholding tax, CBC reporting, global minimum tax, equalization tax, VAT OSS declarations, small taxpayer status for CIT, accounting record-keeping practices, and dividend payments. Subscribing to the newsletter grants access to a valuable table of essential tax obligations. For inquiries, please contact seweryn.tomaszewski@moorepolska.pl.
Voluntary share write-off without remuneration – does it require transfer pricing documentation?
1/14/2025
Voluntary share redemption without remuneration may trigger transfer pricing documentation requirements if thresholds are met and related parties are identified. A controlled transaction is defined as
Voluntary share redemption without remuneration may trigger transfer pricing documentation requirements if thresholds are met and related parties are identified. A controlled transaction is defined as economic activities, including income allocation to a foreign establishment, where conditions are set or imposed due to relationships. This broad definition aims to encompass situations not typically considered transactions.
Related parties are entities where one has a significant influence over another, or where the same entity, a spouse, relative, or business partner exerts significant influence. Significant influence is defined as holding at least 25% of shares or voting rights, having the actual ability to impact key economic decisions, or being in a marital or close familial relationship.
The Ministry of Finance, aligning with Supreme Administrative Court rulings, considers voluntary share redemption without remuneration a controlled transaction. This is because the conditions of such a redemption could be influenced or imposed by existing relationships between shareholders. The Court emphasizes that a shareholder voluntarily agreeing to gratuitous disposal of shares, thereby divesting assets, may lack economic rationality, suggesting underlying relationships dictate such actions. This economic activity, even if unpaid due to shareholder and company agreement, is subject to transfer pricing regulations if related parties are involved and documentation thresholds are exceeded.
Supported Decision-Making – A New Model Instead of Guardianship in Poland
1/8/2025
In December 2024, a draft law on supported decision-making instruments was introduced in Poland, aiming to completely replace the existing legal concept of legal incapacitation (ubezwłasnowolnienie).
In December 2024, a draft law on supported decision-making instruments was introduced in Poland, aiming to completely replace the existing legal concept of legal incapacitation (ubezwłasnowolnienie). The intention is to create a less formal system that maximizes freedom for individuals needing assistance in managing their affairs due to various reasons. The proposed legislation is currently undergoing review, with the government targeting its implementation by 2026 at the latest.
The new law will introduce three models of supported decision-making, adaptable to the individual's condition and needs. These models can apply to individuals with disabilities, the elderly, the sick, or anyone who feels they require support or cannot fully manage their affairs independently. The three proposed models are: Legal Assistance, Supportive Guardianship, and Representative Guardianship.
Legal Assistance will be a new type of contract where a supported individual and a supporter agree on assistance, such as attending legal actions, explaining legal matters, gathering information, and communicating declarations of intent. Supportive Guardianship will function similarly but will be established by a court that defines the guardian's powers and duties. Representative Guardianship, the most extensive form, will grant the guardian the power to act on behalf of the supported individual, either directly or by approving their actions. For significant matters concerning property or the individual, the Representative Guardian will require prior court consent. Additionally, a "future power of attorney" will allow adults to appoint someone to manage their affairs should they become unable to do so themselves, with powers potentially exceeding even Representative Guardianship, though also requiring court approval for major decisions. Existing guardians of legally incapacitated individuals will automatically become Representative Guardians upon the law's enactment.
ESG and the EU Taxonomy: A Comprehensive Guide to Business Sustainability
1/3/2025
Modern business faces the challenge of addressing global environmental protection needs, social responsibility, and sustainable management. In this context, ESG (Environmental, Social, Governance) and
Modern business faces the challenge of addressing global environmental protection needs, social responsibility, and sustainable management. In this context, ESG (Environmental, Social, Governance) and the EU Taxonomy play a crucial role, setting standards for environmentally friendly investments and activities. This article delves into ESG principles and the EU Taxonomy, their interconnections, and their significance for businesses.
ESG, an acronym for Environmental, Social, and Governance, assesses a company's activities based on their impact on the environment, society, and management. Amidst climate change and increasing regulatory demands, ESG has become a fundamental indicator of responsible business. The EU Taxonomy, a set of regulations defining environmentally sustainable economic activities, is particularly important in this transformation.
The EU Taxonomy, established in June 2020, aims to facilitate sustainable investments by defining which investments align with ESG principles and environmental goals. It combats greenwashing and directs capital towards eco-friendly actions. To be considered sustainable under the Taxonomy and ESG, an economic activity must contribute to at least one of six environmental objectives: climate change mitigation and adaptation, sustainable water and marine resource use, circular economy transition, pollution prevention and control, and biodiversity and ecosystem protection. Crucially, these activities must not cause significant harm to any other environmental objective, comply with minimum safeguards (including human and labor rights), and meet specific technical screening criteria. Compliance involves identifying qualifying activities, assessing technical criteria, verifying minimum safeguards, and reporting on ESG alignment using key performance indicators like turnover, CapEx, and OpEx from sustainable activities.
Adopting ESG principles yields benefits such as increased investor trust, enhanced competitiveness, better environmental risk management, and a stronger corporate reputation. ESG actions also support the EU's climate goals, contributing to the fight against global warming and the protection of biodiversity. Implementing ESG is not just an obligation but an opportunity to build a more responsible and effective business.
2024 Summary at Moore Poland – A Year of Successes and Challenges
12/30/2024
2024 was a significant year for Moore Polska, marked by successes, challenges, and new initiatives. Celebrating its 35th anniversary, the company demonstrated a blend of tradition and modernity, focus
2024 was a significant year for Moore Polska, marked by successes, challenges, and new initiatives. Celebrating its 35th anniversary, the company demonstrated a blend of tradition and modernity, focusing on quality of service and client relationships. A major event was the #MoorePolskaTeam 2024 integration, reflecting on past achievements and reinforcing team bonds. The company expanded to nearly 270 employees, reflecting market growth and client trust, offering services in audit, accounting, tax, legal, and ESG.
A key development was the launch of Moore Polska Tax & Legal, specializing in comprehensive tax and legal advisory. The company also incorporated ESG consulting into its offerings. Moore Polska received the Champion Biznesu 2024 award and maintained a high position in the "Rzeczpospolita" Auditors Ranking. Representatives participated in industry events, sharing expertise on organizational culture and financial education. They engaged in conferences like the International Economic Forum and the Auditing Conference, addressing leadership, innovation, and ethics. The company also supports social initiatives like the Everest Foundation and Szlachetna Paczka. In summary, 2024 solidified Moore Polska's position as an industry leader, poised for continued growth and client support in 2025.
Taxation of Contributions to a Company – How to Settle Non-Cash Contributions?
12/20/2024
This article analyzes the taxation of income from contributions in kind (aport) to a company by an individual partner, particularly when a portion of the aport is allocated to the reserve capital. An
This article analyzes the taxation of income from contributions in kind (aport) to a company by an individual partner, particularly when a portion of the aport is allocated to the reserve capital. An aport is any non-monetary contribution with an assessable asset value that increases the company's economic potential.
According to the Personal Income Tax Act, contributions in kind to cover or increase share capital are considered income from capital for the partner, based on the value stated in the company's articles of association or similar document. If the stated value is lower than the market value, the market value of the aport is considered income. Some interpretations suggest that allocating a portion of the aport to the reserve capital doesn't change the tax implications, as the entire market value is still considered income.
However, another viewpoint presented in tax rulings treats the contribution in kind as a form of compensated disposal of assets. It states that in order for the aport to be treated as a compensated disposal, the partner needs to receive shares or stocks from the company. The taxation of aport, especially when part of it is allocated to reserve capital, is not clearly defined in tax laws or precedents. A compelling argument to consider only the aport value allocated to the company's share capital as income stems from Article 30b(1)(1) of the PIT Act, which specifies a 19% tax on income from acquiring shares or stocks in exchange for a contribution in kind.
Donation to a municipality – can it be deducted from income in 2024?
12/20/2024
Many entrepreneurs in 2024 donated to municipalities affected by the September floods. The question is whether these entrepreneurs can deduct such donations from their income.
2024년 9월 홍수로 피해를 입은 지방자치단체에 많은 기업이 기부금을 전달했습니다. 이 기부금을 소득세 신고 시 비용으로 인정받아 세금 혜택(소득 공제)을 받을 수 있는지에 대한 문의가 많습니다.
현행 법인세법 규정에 따르면, 재난 구호와 같은 공익적 목적의 기부금이라도 특정 단체에 전달해야만 세금 공제가 가능합니다. 세법상 공제가 가능한 단체는 재단이
Many entrepreneurs in 2024 donated to municipalities affected by the September floods. The question is whether these entrepreneurs can deduct such donations from their income.
According to CIT regulations, the tax base can be reduced by donations made for purposes outlined in the Public Benefit and Volunteer Work Act, specifically aiding victims of disasters, natural disasters, armed conflicts, and wars, both domestically and abroad. However, these donations must be given to organizations mentioned in the act, which includes non-governmental organizations (NGOs) such as foundations and associations, but not entities within the public finance sector.
Municipalities, being units of local government, are classified as entities within the public finance sector according to the Act on Public Finances. Tax authorities state that a donation is deductible only if it serves the purposes mentioned in the Public Benefit and Volunteer Work Act and is given to an NGO, which excludes entities in the public finance sector.
A proposed amendment in September 2024 suggested allowing deductions for donations to local government units (LGUs) for flood victims, but this proposal was not enacted. Therefore, currently, deducting donations made to municipalities is not possible under existing tax laws.
Summary:
Entrepreneurs who donated to municipalities after the September 2024 floods cannot deduct these donations from their taxable income. Tax regulations allow deductions only for donations to NGOs, not to entities within the public finance sector. Municipalities are classified as part of the public finance sector. The donation must serve purposes outlined in the Public Benefit and Volunteer Work Act, such as aiding disaster victims. While a proposed amendment to allow deductions for donations to LGUs was considered, it was ultimately not implemented. Thus, current tax law does not permit deducting donations made directly to municipalities, despite the charitable intent, limiting tax relief to donations made to qualified NGOs instead.
2024년 9월 홍수로 피해를 입은 지방자치단체에 많은 기업이 기부금을 전달했습니다. 이 기부금을 소득세 신고 시 비용으로 인정받아 세금 혜택(소득 공제)을 받을 수 있는지에 대한 문의가 많습니다.
현행 법인세법 규정에 따르면, 재난 구호와 같은 공익적 목적의 기부금이라도 특정 단체에 전달해야만 세금 공제가 가능합니다. 세법상 공제가 가능한 단체는 재단이나 협회 같은 비정부기구(NGO)이며, 공공 재정 부문에 속하는 기관은 제외됩니다.
지방자치단체(시, 군, 구 등)는 공공 재정에 관한 법률에 따라 공공 재정 부문 기관으로 분류됩니다. 따라서 지방자치단체에 직접 기부한 금액은 세금 공제 대상이 아닙니다.
2024년 9월, 홍수 피해 지원을 위해 지방자치단체에 기부한 경우에도 세금 공제를 허용하자는 법률 개정안이 논의되었으나, 최종적으로 통과되지 않았습니다. 따라서 현행 세법에 따라 지방자치단체에 대한 직접 기부금은 공제받을 수 없습니다.
**요약:**
2024년 9월 홍수 피해 복구를 위해 기업이 지방자치단체에 직접 전달한 기부금은 현행 세법상 소득 공제를 받을 수 없습니다. 세금 공제를 받으려면 재난 구호와 같이 법에서 정한 공익적 목적을 위해 기부해야 하며, 그 기부금을 받는 단체 또한 정부 기관이 아닌 지정된 비정부기구(NGO)여야 합니다. 비록 좋은 취지의 기부라 할지라도, 지방자치단체에 직접 기부한 경우에는 세금 혜택을 받을 수 없으며, 공인된 NGO를 통해 기부했을 때만 공제가 가능합니다.
Global Minimum Tax – What does OECD Pillar II mean for Polish companies?
12/16/2024
Poland has implemented the global minimum tax law, effective January 1, 2025, to align with the OECD's Pillar II and EU Directive 2022/2523. This tax targets multinational and large domestic groups wi
Poland has implemented the global minimum tax law, effective January 1, 2025, to align with the OECD's Pillar II and EU Directive 2022/2523. This tax targets multinational and large domestic groups with consolidated annual revenues exceeding €750 million in at least two of the four preceding fiscal years. The goal is to ensure fair taxation where businesses operate, curbing profit shifting to low-tax jurisdictions.
The law introduces three types of top-up tax: Income Inclusion Rule (IIR), Qualified Domestic Minimum Top-Up Tax (QDMTT), and Undertaxed Profit Rule (UTPR). IIR applies to parent entities, QDMTT is collected in countries where low-taxed constituent entities are located, and UTPR applies where the parent entity operates in a jurisdiction without IIR or QDMTT.
Exemptions include governmental entities, international organizations, non-profits, pension funds, and investment funds. Tax incentives like Special Economic Zones, Polish Investment Zones, IP BOX, and the 9% CIT rate may significantly affect the top-up tax amount. While the regulations are implemented with a delay compared to some countries, Polish subsidiaries of international groups from countries that have already implemented Pillar 2 will be subject to a review of their effective tax rate for 2024. Companies should prepare for these changes by gathering and analyzing data to assess their tax liabilities.
Equalization Tax: Who does it concern? Fill out the survey!
12/13/2024
The new regulations concerning the equalization tax could significantly impact the operations of both international and domestic groups. This tax, part of the global minimum tax level, will cover a wi
The new regulations concerning the equalization tax could significantly impact the operations of both international and domestic groups. This tax, part of the global minimum tax level, will cover a wide range of entities but also includes numerous exclusions and exemptions.
The equalization tax applies to multinational enterprise groups with subsidiaries in other countries, including Poland, if the parent entity is based outside of Poland; multinational groups with subsidiaries in other countries where the parent company is based in Poland; and domestic groups operating solely in Poland. Unlike OECD model rules, this tax applies not only to multinational groups but also to groups where all qualified entities are based in a member state like Poland.
Exemptions include taxpayers who are not qualified entities of multinational or domestic groups, taxpayers who are part of multinational or domestic groups with consolidated revenues not exceeding €750 million at least twice in the four years preceding the tax year, or groups that existed for less than four tax years but have exceeded that revenue threshold in at least two years. Governmental bodies, international organizations, non-profit organizations, pension funds, investment funds, real estate investment entities, and entities where at least 95% of the nominal value of their shares is held by exempt entities are also excluded. Furthermore, entities where at least 85% of the nominal value of their shares is held by exempt entities, provided that almost all of their income comes from tax-exempt dividends, are also exempt.
Significant changes have been introduced following public consultations, including clarifying which taxes in Poland will qualify, such as CIT, withholding tax, tax on income from virtual currency sales, controlled foreign company tax, tax on shifted profits, tax on income from buildings, minimum tax under Article 24ca of the CIT Act, tax on qualified income from intellectual property rights (IP Box), and tax on income from unrealized gains.
Employee benefits: rehabilitation paid for by the employer – what is worth knowing?
12/11/2024
More companies are supporting employees in difficult situations, such as financing rehabilitation, which raises legal and tax questions. Paying for rehabilitation is a non-cash benefit, considered a f
More companies are supporting employees in difficult situations, such as financing rehabilitation, which raises legal and tax questions. Paying for rehabilitation is a non-cash benefit, considered a form of income subject to taxation unless specific exemption conditions are met.
According to income tax law, any benefit resulting from employment is considered an employee's income. Rehabilitation financed by the company is considered income unless it's related to an individual accident, natural disaster, long-term illness, or death, which could allow for tax exemption. Additionally, it should not be financed from the Company Social Benefits Fund (ZFŚS), a social fund, or a trade union fund, which may also allow for tax exemption in certain cases.
Aid granted due to individual accidents, long-term illness, or other circumstances may be tax-exempt if it meets additional requirements. If from social funds or trade union funds, the exemption applies regardless of the benefit's amount. From other sources, the exemption covers benefits up to 6,000 PLN annually.
Employers must assess whether the circumstances of the benefit meet the required criteria and are adequately documented. If rehabilitation is financed from the company's budget and meets the conditions for exemption, it's beneficial for both the employee and the employer.
Key considerations for employers planning such benefits include consulting with accounting, maintaining transparent documentation, understanding tax rules, and considering alternative funding from ZFŚS. Thorough analysis is essential to avoid complications, ensuring compliance and allowing employees to focus on recovery without tax concerns.
Global Minimum Tax: Does your company have to comply? Pillar 2. Key information that may concern you - complete the survey!
12/10/2024
The end of the year is approaching, and new regulations regarding the global minimum tax are coming into effect on January 1, 2025. A short survey helps determine if the equalization tax law will appl
The end of the year is approaching, and new regulations regarding the global minimum tax are coming into effect on January 1, 2025. A short survey helps determine if the equalization tax law will apply to your company. A detailed analysis of Pillar 2 regulations is crucial to ascertain whether your business is subject to these new rules. Early identification enables effective budget and resource planning, essential for well-targeted strategies. Early action allows finance departments to gather data necessary for calculating global or national minimum tax and determining payment obligations.
A multinational or large domestic group with consolidated annual revenues exceeding EUR 750,000,000 will be subject to the new regulations, provided it surpassed this threshold in at least two of the four years preceding the tax year. This threshold aligns with the country-by-country reporting requirements, allowing Polish companies to verify compliance by checking past CBC-P reporting obligations. Determining if a company will be subject to Pillar 2 requires considering consolidated group revenues from 2021-2024. In 2024, Polish firms must fulfill aspects of the new regulations, necessitating an analysis of financial situations from 2020-2023.
The global minimum tax aims to ensure international firms pay fair taxes where they operate, eliminating aggressive tax optimization. The draft law introduces three types of equalization tax: the global equalization tax (IIR), where the group's parent entity pays the tax on itself and its low-taxed subsidiaries; the domestic equalization tax (QDMTT), levied in the country where low-taxed components of the group are located; and the equalization tax on insufficiently taxed profits (UTPR), applied when the parent entity operates in a jurisdiction without IIR or the tax wasn't collected under QDMTT. Although Polish lawmakers haven't implemented it, international groups in countries with Pillar 2 (Austria, Belgium, France) must consider the effective tax rate of Polish subsidiaries for 2024, requiring extensive data gathering. If operating in Poland as part of an international structure, assess your company's tax obligations now to prepare for the changes.
GPSR Regulation: What do manufacturers, importers and distributors need to know about the new product safety regulations?
12/4/2024
The General Product Safety Regulation (GPSR) 2023/988, effective December 13, 2024, replaces Directive 2001/95/WE, impacting manufacturers, importers, and distributors of consumer goods in the EU. It
The General Product Safety Regulation (GPSR) 2023/988, effective December 13, 2024, replaces Directive 2001/95/WE, impacting manufacturers, importers, and distributors of consumer goods in the EU. It aims to ensure all products, new or used, meet safety standards, excluding items like pharmaceuticals, food, and antiques.
Manufacturers must conduct risk analysis and create technical documentation for each product, including its description, safety properties, and risk assessment, kept for 10 years. Importers must ensure products meet safety standards and are correctly labeled, also storing technical documentation for 10 years. Distributors are responsible for verifying proper labeling and including safety instructions.
Product labels must include the manufacturer's (or importer's) electronic address. Companies must implement internal procedures to ensure safety and product compliance and manage product recalls, offering consumers compensation such as repair, replacement, or refund without cost.
The GPSR mandates ongoing product safety monitoring. Importers and distributors must report concerns to manufacturers, who then inform authorities via the Safety Business Gateway. Manufacturers must record and analyze safety complaints. Consumers can report safety issues, and preparations should begin now even though there is a grace period.
Non-compliance can result in penalties up to €230,000 for manufacturers and importers introducing non-compliant products, €115,000 for distributors with documentation and labeling failures, and €115,000 for online retailers lacking required information.
Social Insurance and a Single-Shareholder Limited Liability Company – Supreme Court Judgment
11/21/2024
A sole shareholder of a limited liability company (LLC), even holding 99% of the shares, is not considered to be conducting non-agricultural business activity and is therefore not subject to social se
A sole shareholder of a limited liability company (LLC), even holding 99% of the shares, is not considered to be conducting non-agricultural business activity and is therefore not subject to social security contributions. This is the conclusion reached in a Supreme Court Resolution dated February 21, 2024. The Court clarified that the provision in the Social Insurance System Act defining "a shareholder of a single-member limited liability company" refers strictly to a company where all shares belong to one shareholder according to commercial law.
Previously, courts had reached similar conclusions, but there was some inconsistency in jurisprudence. One case involved the Lublin Regional Court dismissing a taxpayer's appeal against a Social Insurance Institution (ZUS) decision. ZUS had determined that the individual, owning 99% of the LLC's shares, should be treated as a sole shareholder and thus not subject to mandatory employee social security.
The Supreme Court emphasized that the law strictly defines who is subject to social security. The key factor is the legal status – whether the company is truly single-member – not the economic significance of a majority shareholding. A shareholder in a two-person LLC, even with 99% ownership, is not considered a sole shareholder and is not subject to social security under this specific provision. The law does not allow for the creation of new categories of insured individuals or the expansion of existing ones through interpretation. Therefore, only the actual sole shareholder of an LLC is subject to mandatory social security contributions.
Final Consultations on KSeF Implementation: The National e-Invoice System Enters a Key Phase
11/15/2024
The Ministry of Finance has announced the final consultations for the implementation of the National e-Invoice System (KSeF). Previous consultations identified areas for improvement and simplification
The Ministry of Finance has announced the final consultations for the implementation of the National e-Invoice System (KSeF). Previous consultations identified areas for improvement and simplification. Businesses can submit comments on the draft bill until November 19th, and on business solutions until November 22nd.
KSeF implementation dates have been proposed: February 1, 2026, for businesses exceeding PLN 200 million in sales in 2025, and April 1, 2026, for all other businesses. Some functionalities, like including the KSeF number in payments and penalties for non-compliance, will be postponed to July 31, 2026. Consumer invoices will be allowed through KSeF. For digitally excluded taxpayers with low invoice volumes, the Ministry plans to allow traditional invoice issuance until September 30, 2026. Full technical functionalities will be ensured before the mandatory KSeF introduction. The National Revenue Administration will have access to KSeF data for its cases.
Logical structures of e-invoices will be modified, including payment terms and the marking of local government units. Attachments to invoices will be permitted for complex data. A new "employee" role will be introduced. The logical structure FA(3) incorporates feedback from businesses and software providers, aiming for stable implementation. The structure FA_RR(1) for VAT RR invoices will also be consulted. API functionality will be adapted for invoice attachments. The final consultations conclude on November 19th and November 22nd for business solutions.
Definition of a Building in Real Estate Taxes – Upcoming Changes and Their Significance from 2025
11/13/2024
The Polish Ministry of Finance has proposed significant changes to property tax regulations, particularly the definition of "building structure" (budowla), effective January 1, 2025. These amendments
The Polish Ministry of Finance has proposed significant changes to property tax regulations, particularly the definition of "building structure" (budowla), effective January 1, 2025. These amendments are a response to a Constitutional Tribunal ruling from July 2023, which found the previous definitions of taxable property (buildings and structures) inconsistent with the Constitution.
The core issue was a tautological error in the previous legislation, where the definition of a building referenced construction law, which in turn defined an "object of construction" as a building, creating a circular definition. The new proposals aim to establish an autonomous definition of "structure" within the tax law itself, independent of external construction regulations.
Under the revised definition, structures will encompass specific objects listed in an annex, along with installations and equipment forming a unified technical-utility whole with them. It will also include structural parts of equipment not considered part of a structure, structural components of wind and nuclear power plants, foundations for machinery and equipment distinct from them, and connections to a construction object, provided they are made using building materials.
Crucially, a structure will now be defined as "made" rather than "erected," which broadens the scope. This change may allow for the taxation of prefabricated, portable items like freestanding equipment or tanks that are placed at a taxpayer's site without requiring further construction work. Examples of new categories of structures include open sports and recreation facilities, water treatment plants, sewage treatment plants, shelters, hangars, container facilities permanently attached to the ground, ports, marinas, artificial islands, swimming pools, docks, breakwaters, quays, piers, jetties, and slipways.
The amendments also clarify the distinction between buildings and structures, especially in complex or heterogeneous objects like multi-functional stadiums. While parts of such complex structures might be classified as buildings and taxed based on area, other components or separate structures within a building, such as utility networks, will still be considered distinct taxable entities, taxed based on their value. The goal is to eliminate disputes arising from overlapping definitions and maintain the existing tax scope for both buildings and structures.
The Polish Ministry of Finance has presented a draft of changes to property tax regulations, particularly concerning the definition of a "building structure" (budowla), slated to take effect from January 1, 2025. This revision stems from a Constitutional Tribunal ruling in July 2023, which identified inconsistencies between existing definitions of taxable property and the Constitution. The previous legislation suffered from a circular definition of buildings and structures, leading to legal ambiguities.
The proposed changes introduce an autonomous definition of "structure" within the tax law, eliminating reliance on external construction regulations. A structure will now include specified objects, associated installations, equipment, and their components, as well as foundations and connections, provided they are made with building materials. The shift from "erected" to "made" is significant, potentially allowing for the taxation of prefabricated, portable items as structures.
The amendments clarify that parts of complex or heterogeneous objects, such as stadiums, may be classified as buildings and taxed by area. However, structures or their parts housed within buildings, like utility networks, will remain distinct taxable entities, assessed by value. This aims to prevent disputes and maintain the current tax scope for both buildings and structures, ensuring greater clarity in property taxation.
Transfer Pricing. Documentation Obligations and Deadlines for 2023
11/6/2024
As the year ends, crucial transfer pricing obligations are due. Transfer pricing documentation for 2023 must be prepared by the end of October, and the TPR-C declaration filed by the end of November.
As the year ends, crucial transfer pricing obligations are due. Transfer pricing documentation for 2023 must be prepared by the end of October, and the TPR-C declaration filed by the end of November. This process requires meticulous analysis of all transactions with related entities, especially concerning reorganizations with potential tax implications.
A restructuring, under transfer pricing regulations, involves a significant change in commercial or financial relations coupled with the transfer of functions, assets, or risks between related entities. This is considered a restructuring if the predicted average annual financial result (EBIT) changes by at least 20% over a three-year period post-transfer. Examples include converting a full-risk distributor to a low-risk one, transferring significant intangibles, terminating contracts with asset transfers, or relocating functions. Reorganizations not meeting these criteria are still subject to general transfer pricing principles, even if not classified as a formal restructuring.
Crucially, compensation for restructuring needs careful consideration, particularly for profit-generating potential transfers. Documentation for restructuring includes identifying pre- and post-restructuring relationships, economic rationale, tax consequences, profit potential shifts, and the necessity and appropriateness of restructuring remuneration. Benchmarking analyses and business justifications are also required. The threshold for local transfer pricing documentation for restructuring is PLN 2 million. Restructuring transactions may also be subject to MDR reporting.
Moore Polska Tax & Legal offers assistance with all transfer pricing aspects, tailoring services to client needs.
Tax deadline extensions for flood victims in September 2024 – PIT, CIT, VAT, and additional tax reliefs
10/30/2024
On September 19, 2024, a regulation extended certain tax deadlines for individuals and businesses affected by the September 2024 floods. To qualify for these extensions, entities must be recognized as
On September 19, 2024, a regulation extended certain tax deadlines for individuals and businesses affected by the September 2024 floods. To qualify for these extensions, entities must be recognized as flood victims under the Flood Act, have their registered office, management, or residence in a flood-affected municipality, and conduct business operations within it. For Inheritance and Gift Tax and the Tax on Civil Law Transactions (PCC), the business operation condition is waived.
Specific extensions include: PIT advance payments, property income tax, and flat-rate tax on registered revenue are postponed to April 30, 2025. For payers, PIT advance deposit deadlines are extended to December 31, 2024, and annual PIT-4R and PIT-8AR declarations for businesses ceasing operations by year-end are due by January 31, 2025. CIT advance payments and property income tax payments are extended to March 31, 2025. For Estonian CIT taxpayers, payment deadlines falling in September or October 2024 are extended by three months. VAT payment deadlines are extended to January 25, 2025, while VAT return and summary information submission deadlines are moved to November 25, 2024. Inheritance and Gift Tax filings and PCC declarations and payments are extended to January 31, 2025. Additionally, flood-affected businesses can apply for individual tax relief such as installment payments or waivers of arrears and interest through www.biznes.gov.pl or the e-Urząd Skarbowy. A special hotline from the National Revenue Administration is available for flood victims seeking tax advice.
40 Euro Compensation for Late Payments – An Effective Way to Recover Debt
40欧元逾期付款补偿:有效追讨欠款的利器
10/18/2024
Article 10(1) of the Polish Act on Counteracting Excessive Delays in Commercial Transactions protects creditors from late payments. It grants creditors a flat-rate compensation of 40 euros for debt re
Article 10(1) of the Polish Act on Counteracting Excessive Delays in Commercial Transactions protects creditors from late payments. It grants creditors a flat-rate compensation of 40 euros for debt recovery costs from the day they become entitled to interest due to the debtor's payment delay. This compensation is due without prior notice to the debtor.
The compensation is calculated in euros and converted to Polish zlotys using the average exchange rate announced by the National Bank of Poland on the last working day of the month preceding the due date. While beneficial for out-of-court settlements and situations with multiple overdue invoices from the same debtor, claiming the 40-euro compensation may be disadvantageous in court if it increases litigation costs beyond the compensation amount. Higher compensation amounts of 70 and 100 euros are applicable when the value of receivables is higher.
This law applies to commercial transactions involving paid delivery of goods or services, excluding contracts between businesses and consumers. The act simplifies debt recovery and reduces creditors' financial burdens, incentivizing timely payments from debtors.
40th HR Congress – A New Era of Work Culture with the Participation of Moore Poland
10/14/2024
The modern work culture is undergoing rapid changes, and organizations need to adapt to new employee expectations. The 40th Personnel Congress, held on October 21-22, 2024, in Warsaw, Poland, will add
The modern work culture is undergoing rapid changes, and organizations need to adapt to new employee expectations. The 40th Personnel Congress, held on October 21-22, 2024, in Warsaw, Poland, will address these transformations. Experts like Dominika Drewczyńska from Moore Polska will share experiences from company mergers and shaping a new organizational culture.
The congress focuses on the evolving culture of work, especially among younger employees who prioritize work-life balance and relationships. Discussions will center on how organizations can meet these changing needs. Moore Polska representatives, including Dominika Drewczyńska and Karolina Ząbkiewicz, will present their experiences merging family businesses, highlighting the HR's role in the cultural transformation.
The session "Lessons from the Past: Drawing from Experience" will feature Drewczyńska discussing how HR supported the merger and created a shared vision for 270 employees across 11 offices. The congress offers insights into building strong organizational foundations based on collaboration. The two-day event includes plenary sessions, expert discussions, and thematic tracks covering topics like empathetic leadership, salary transparency, AI in HR, and business digitization. It is an opportunity to learn about the latest HR trends, network with industry leaders, and gain actionable insights for implementation within organizations, also offering a chance to develop valuable business relationships.
25th Annual Auditing Conference: "The Auditor - A Multidisciplinary Profession"
10/9/2024
The 25th Annual Auditing Conference, "Statutory Auditor – A Multidisciplinary Profession," took place on October 7-9, 2024, at the Warszawianka Hotel in Jachranka. Moore Polska participated as a partn
The 25th Annual Auditing Conference, "Statutory Auditor – A Multidisciplinary Profession," took place on October 7-9, 2024, at the Warszawianka Hotel in Jachranka. Moore Polska participated as a partner, with representatives involved in panels discussing crucial issues such as ethics, technology, and the future of the auditing profession.
The conference addressed innovation and ethics in auditing, with discussions on AI and ESG reporting. Piotr Witek, Managing Partner at Moore Polska, emphasized the importance of ethics in a changing world during the ethics panel. Lidia Skudławska, also a Managing Partner at Moore Polska, participated in a panel on internal quality control systems, highlighting the need for continuous improvement in auditing procedures and adaptation to international standards.
The conference included sessions on quality control in audit firms and a debate on the role of audits in small and medium-sized enterprises. Piotr Witek was a panelist in an Oxford Debate regarding the role of audits in SMEs. The final day included discussions on the future of the law on statutory auditors and a local government panel. Moore Polska contributed significantly to the conference, strengthening its position as a leader in auditing and consulting in the Polish market.
The Circulation of Accounting Documents in a Company. Types of Systems.
10/3/2024
In today's globalized and automated world, efficient accounting document flow is crucial for financial management in any organization. Modern document flow systems speed up accounting processes, enhan
In today's globalized and automated world, efficient accounting document flow is crucial for financial management in any organization. Modern document flow systems speed up accounting processes, enhance data security, and improve overall business efficiency. This article examines various aspects of accounting document flow systems and their benefits for companies.
An accounting document flow system comprises rules, procedures, and tools for managing financial documentation effectively, including document creation (invoices, receipts), approval and verification, archiving (physical or electronic storage), and accessibility. Different types of systems exist, including traditional (paper-based), electronic (using ERP or DMS software), and cloud-based SaaS solutions.
Implementing such systems offers several advantages. Increased efficiency comes from automating processes, allowing employees to focus on strategic tasks. Data security is enhanced through encryption and access controls. Electronic archiving enables quick and easy information retrieval. Compliance with legal regulations and accounting standards is improved, minimizing financial errors. Team collaboration is facilitated through integrated systems.
Implementing a new system requires careful planning, including analyzing needs, selecting appropriate software (considering functionalities, integration, and support), training personnel, testing the system, and monitoring and optimizing its performance.
In conclusion, in the age of digitalization, a document flow system is a necessity, enabling businesses to save time and resources while ensuring regulatory compliance and stable development.
Minimum Corporate Income Tax 2024 – New Rules and Exemptions
9/26/2024
From January 1, 2024, Poland reintroduced the minimum income tax (CIT) for corporate taxpayers, aimed at preventing tax avoidance by companies reporting losses or low income despite revenue. This tax
From January 1, 2024, Poland reintroduced the minimum income tax (CIT) for corporate taxpayers, aimed at preventing tax avoidance by companies reporting losses or low income despite revenue. This tax operates parallel to the standard CIT, and if both taxes are due in the same year, the minimum tax liability is reduced by the amount of CIT owed, avoiding double taxation.
The minimum tax applies to companies with Polish tax residency, non-residents operating through foreign establishments in Poland, and domestic capital groups. Non-residents with establishments in Poland must carefully assess their business activities, as the new regulations may affect their income and losses related to these establishments.
Exemptions exist for new businesses (first two years), companies using Estonian CIT, entities with significantly lower revenues compared to the previous year, companies with simple ownership structures, and those deriving most income from specific activities like international transport or resource extraction.
The tax base is calculated using one of two methods: either 1.5% of revenue plus certain costs exceeding PLN 3 million and debt financing costs exceeding 30% of EBITDA, or 3% of operating revenue. Taxpayers must choose a method and inform the tax authorities in their annual return. Careful financial analysis and awareness of exemptions are crucial to avoid unnecessary tax burdens. Consulting a tax advisor is recommended.
Latest Changes in Real Estate and Agricultural Tax - Draft Act of September 2, 2024
不動産税及び農業税に関する改正法案(2024年9月2日案)
房地产税与农业税最新变动 — 2024年9月2日法案草案
9/25/2024
The Ministry of Finance has prepared another draft law amending the laws on agricultural tax, local taxes and fees, forest tax, and stamp duty, incorporating comments from public consultations. This d
The Ministry of Finance has prepared another draft law amending the laws on agricultural tax, local taxes and fees, forest tax, and stamp duty, incorporating comments from public consultations. This draft, dated September 2, 2024, focuses on changes to property and agricultural taxes.
Regarding property tax, the primary changes concern the definitions of "building" and "structure." The Ombudsman pointed out that the draft still references construction law rather than tax laws, potentially causing controversy based on a Constitutional Tribunal ruling that requires precise definition of taxable objects to avoid taxpayer uncertainty. The new definition of a building emphasizes a structure resulting from construction works, permanently attached to the ground, enclosed, with foundations and a roof, excluding storage facilities for bulk, loose, liquid, or gaseous materials where capacity is the key parameter. The definition of "structure" includes objects listed in the annex to the law, wind, nuclear, and photovoltaic power plants, energy storage, boilers, industrial furnaces, cable cars, ski lifts, ski jumps (only construction parts), construction equipment (connections, sewage treatment), industrial equipment (construction parts), and machinery foundations.
For agricultural tax, changes involve subject exemptions, specifically removing the application-based exemptions outlined in Article 12(2) of the Agricultural Tax Act, which currently exempts entities like universities and research institutes. The justification for this change is that the current application process is overly bureaucratic, as the exemption is based solely on the entity's legal status (university, research institute, etc.) which doesn't require verification through a taxpayer's application.
Liability of a Management Board Member in a Limited Liability Company - How to Protect Your Assets and Avoid Risks
9/24/2024
Serving as a management board member in a limited liability company entails significant responsibility, potentially encompassing civil, criminal, and tax liabilities. Unlike shareholders, whose liabil
Serving as a management board member in a limited liability company entails significant responsibility, potentially encompassing civil, criminal, and tax liabilities. Unlike shareholders, whose liability is limited to their contributions, board members can be held accountable with their entire personal assets.
Civil liability, primarily governed by the Commercial Companies Code, extends to the company itself and third parties. Board members may be liable for providing false information regarding contributions or causing damage to the company through unlawful actions or omissions. Crucially, they can be held jointly and severally liable for the company's debts if enforcement against the company proves unsuccessful, unless they demonstrate timely filing for bankruptcy, the opening of restructuring proceedings, or that the creditor suffered no damage due to the failure to file.
Criminal liability can arise from intentional actions or omissions detrimental to the company, punishable by up to five years imprisonment. Failure to file for bankruptcy on time can result in fines, restrictions on freedom, imprisonment, and a ban on conducting business or holding management positions for up to ten years.
Tax liability can be imposed if the company's tax obligations cannot be fulfilled and the board member fails to prove timely bankruptcy filing or lack of fault. This liability covers tax arrears during their tenure, extend to social security contributions and can be avoided by indicating company assets sufficient to cover the tax debts.
The extensive liability aims to protect creditors, shareholders, and the company's interests.
Local Taxes 2025. Amendment to the Act: Changes in Definitions, Taxation of Garages, and Exemptions
9/19/2024
In June 2024, the Council of Ministers in Poland published the draft law amending regulations concerning agricultural tax, local taxes and fees, forest tax, and stamp duty. The final version, released
In June 2024, the Council of Ministers in Poland published the draft law amending regulations concerning agricultural tax, local taxes and fees, forest tax, and stamp duty. The final version, released on June 17, 2024, introduces significant changes effective from January 1, 2025. Key modifications include revised definitions of "building" and "structure" specifically for property tax purposes, aiming to resolve interpretative disputes between taxpayers and tax authorities. These definitions will be independent from construction law to ensure fiscal stability and reflect judicial precedents.
The law also standardizes the taxation of multi-space garages in residential buildings, ensuring owners of designated parking spaces pay the same lower tax rate as those with spaces in shared property garages. This equalizes tax burdens by classifying separated multi-space garages as part of the residential building.
Furthermore, changes are made to tax exemptions for railway infrastructure, cargo terminals, and land, buildings, and structures at public airports, reverting to previous regulations that limit property tax exemptions to areas directly occupied by buildings and structures. Research institutes will only receive tax exemptions for properties used for research activities.
The bill is scheduled for parliamentary review in Q3 2024. Taxpayers must prepare to submit updated tax information by January 31, 2025, reflecting these new regulations.
Digitalization of accounting documentation in CIT tax – new rules. What do you need to know?
9/12/2024
The digitization of accounting documentation for Corporate Income Tax (CIT) is becoming a reality. The Minister of Finance has signed a regulation imposing new accounting obligations on businesses.
S
The digitization of accounting documentation for Corporate Income Tax (CIT) is becoming a reality. The Minister of Finance has signed a regulation imposing new accounting obligations on businesses.
Starting January 1, 2025, companies must maintain accounting records using computer programs and submit them electronically to tax authorities. The initial phase applies to entities with revenues exceeding 50 million euros and tax capital groups, based on the previous tax year's income.
The implementation is staggered: - January 1, 2025: Companies with revenues over 50 million euros and tax capital groups must adopt new logical structures for accounting records. - March 2026: The first submission of JPK_KR_PD logical structures, including account identification tags, is required. - January 1, 2026: Additional data like contractor identification numbers and invoice numbers within the National e-Invoice System (KSeF) must be included. - January 1, 2027: These obligations will extend to all other CIT taxpayers and non-legal entity partnerships.
Some concessions have been made, such as exempting banks and telecommunications companies from submitting NIP numbers for individual transactions. Furthermore, fixed assets and intangible assets recorded before January 1, 2025, are excluded from the scope of new data requirements.
The Ministry of Finance offers support through informational brochures on JPK_KR_PD and JPK_ŚT_KR logical structures, available on their website. A dedicated email address (JPK.helpdesk@mf.gov.pl) is provided for inquiries, with FAQs to be published by the Ministry. Businesses are encouraged to familiarize themselves with these upcoming changes to ensure smooth adaptation.
Trade shows under UOKiK's microscope – new regulations protecting consumers
9/10/2024
Commercial shows, despite their popularity, have often been criticized for unfair sales practices. In response to numerous consumer complaints, especially from seniors, UOKiK (The Office of Competitio
Commercial shows, despite their popularity, have often been criticized for unfair sales practices. In response to numerous consumer complaints, especially from seniors, UOKiK (The Office of Competition and Consumer Protection) introduced stricter regulations in 2023 to better protect consumers from abuses by direct selling companies.
These regulations, effective since January 2023, prohibit companies selling outside their usual premises from accepting payments before the contract withdrawal period ends or from concluding financial service agreements, such as consumer credit, during shows or trips. Such contracts are legally invalid.
UOKiK conducted inspections of 27 commercial shows, with inspectors often attending incognito. They found that many companies violated consumer rights and potentially committed offenses. UOKiK has filed 8 reports with the prosecutor's office regarding potential fraud, including financial fraud, with two cases suggesting involvement in organized crime. Fines totaling over PLN 3.6 million have been imposed in three cases for violating collective consumer interests, including penalties for board members.
Companies like Redice, Healthy Life, and Better Life Technology have been fined for practices such as misleading customers about promotional offers, prohibiting contract withdrawal, illegally accepting payments before the withdrawal period, and entering into prohibited consumer credit agreements. Redice and its CEO received over PLN 1.8 million in fines. Healthy Life and its CEO were fined nearly PLN 550,000 and PLN 100,000 respectively. Better Life Technology and its management were fined over PLN 400,000 and PLN 375,000. These decisions are subject to appeal but are immediately enforceable regarding the prohibited practices.
Commercial shows have come under stricter scrutiny in Poland due to widespread unfair sales practices, particularly targeting seniors. The Office of Competition and Consumer Protection (UOKiK) implemented new regulations in 2023 to enhance consumer protection against direct selling companies. Key prohibitions include accepting payments before the contract withdrawal period and concluding financial service agreements, such as consumer loans, at shows or organized trips; such contracts are now void. UOKiK's investigations revealed significant violations, leading to reports of potential fraud and substantial fines for several companies. Redice, Healthy Life, and Better Life Technology were among those penalized for deceptive practices, including misrepresenting offers, illegally accepting payments, and facilitating prohibited credit agreements. Fines totaling over PLN 3.6 million have been issued, and companies must cease these practices immediately, even if appeals are pending.
Free transfer of road plots to the municipality based on an agreement with the municipality on the free transfer of real estate. Key tax aspects
9/5/2024
A developer's free transfer of road plots to a municipality necessitates a precise understanding of VAT law. According to VAT regulations, this transfer is subject to taxation based on the purchase pr
A developer's free transfer of road plots to a municipality necessitates a precise understanding of VAT law. According to VAT regulations, this transfer is subject to taxation based on the purchase price or production cost of the plots and roads at the time of transfer.
When individual plots are transferred, each plot is treated separately for tax purposes, even if they share a land register. VAT exemptions for buildings and structures transferred with land are contingent on specific conditions. These conditions include the timing of the transfer relative to the first occupancy (first use) and whether VAT deductions were previously claimed for the properties. The law specifies that the first occupancy must involve taxable activities. The exemption applies separately to each building or structure.
Therefore, different tax treatments can be applied to plots, some of which are built and some of which are vacant. The transaction requires documentation with an internal invoice and reporting in the VAT declaration for the relevant period. If a VAT exemption changes the right to deduct input VAT, a correction must be made in the tax return for the period when the change occurred.
The introduction of the lump-sum tax on company income (Estoński CIT) alters the taxation framework, introducing new categories of taxable income not covered by previous regulations.
For leased passe
The introduction of the lump-sum tax on company income (Estoński CIT) alters the taxation framework, introducing new categories of taxable income not covered by previous regulations.
For leased passenger cars, determining the correct taxable base hinges on whether the vehicles are used exclusively for business purposes. If solely for business, the taxpayer is exempt from taxes on hidden profits or non-business expenses under Estoński CIT. However, if cars are used for mixed purposes (business and private), private use by a shareholder constitutes a hidden profit. For private use by an employee, it's recognized as a non-business expense.
When opting for Estoński CIT, leased car taxation requires a specific calculation of the taxable base. Under this regime, the taxable base considers gross expenses documented on invoices for car usage. For mixed-use leased cars, the taxable base for Estoński CIT includes 50% of depreciation allowances on the initial value of leased cars, 50% of VAT attributable to the capital part of the lease payment (if deductible under VAT law), and 50% of the gross amount of the interest portion of the lease payment, including associated VAT. Tax authorities emphasize that any expense impacting net financial result, as per accounting regulations, is subject to classification as hidden profit or non-business expense. Consequently, gross expenses form the taxable base for hidden profits or non-business expenditures under Estoński CIT.
LLC or Sole Proprietorship? The Choice Isn't Simple
법인 vs. 개인 사업자, 결코 간단하지 않은 선택
9/3/2024
Currently, the most popular forms of business activity are limited liability companies and registered sole proprietorships. Both can be run by a single person. However, a limited liability company off
Currently, the most popular forms of business activity are limited liability companies and registered sole proprietorships. Both can be run by a single person. However, a limited liability company offers significant advantages, particularly in terms of financial responsibility. While its establishment and operation require financial and substantive investment, it limits liability to the registered capital. In contrast, a sole proprietorship exposes the owner to unlimited personal liability for business debts.
Establishing a sole proprietorship is significantly simpler and faster than a limited liability company, which requires a minimum capital of PLN 5,000 and potentially notarial acts.
Regarding ZUS (Social Insurance Institution) and taxes, sole proprietorships are burdened with high ZUS contributions, although new entrepreneurs can benefit from reduced rates and reliefs for the first 6 and subsequent 24 months. Tax options include linear tax (19%), progressive tax scale (12% or 32%), or lump-sum tax on registered revenue.
A single-member limited liability company also incurs ZUS contributions, treating the sole shareholder as a self-employed individual. However, with two or more shareholders, social insurance contributions are generally not applicable to shareholders, leading to significant savings. The company is subject to CIT tax at 19% (or 9% for small taxpayers), with dividends taxed at 19% personal income tax. Tax optimization is possible through employment within the company (e.g., employment contracts, board remuneration) and utilizing tax reliefs like R&D relief or IP Box.
Limited liability companies also offer greater credibility and ease of capital acquisition through the issuance of new shares, facilitating business partnerships and attracting investment. This transparency and formal structure enhance trust with potential clients.
In summary, while sole proprietorships are easier and cheaper to set up, limited liability companies offer enhanced security and potential tax benefits, albeit with more demanding requirements. Consulting with a tax and legal advisor is recommended to determine the most suitable legal form for a specific business.
The Social Insurance Institution (ZUS) has announced a new relief for entrepreneurs called "contribution holidays." Starting November 1, 2024, eligible business owners can apply to be exempt from payi
The Social Insurance Institution (ZUS) has announced a new relief for entrepreneurs called "contribution holidays." Starting November 1, 2024, eligible business owners can apply to be exempt from paying their social insurance contributions for one chosen month per year. This voluntary option is available to sole proprietors and businesses employing up to nine staff members.
To qualify, entrepreneurs must meet specific criteria, including having no more than ten insured individuals (including themselves) in the month preceding the application, and not having generated excessive income in the past two years, generally not exceeding the equivalent of 2 million euros annually. They also cannot have conducted business for a former employer in a way that relates to their current business activities. The exemption covers mandatory social insurance contributions (retirement, disability, accident), voluntary sickness insurance, and contributions to the Labor Fund and Solidarity Fund. Importantly, the health insurance contribution still needs to be paid. This relief is considered de minimis aid, meaning its availability is subject to the entrepreneur's de minimis aid limit. The exemption applies only to the entrepreneur's own contributions, not those for employees.
E-deliveries: Postponement of the implementation deadline to 2025. What you need to know?
8/15/2024
The implementation deadline for e-Deliveries (e-Doręczenia), initially set for October 1, 2024, has been postponed by three months to January 1, 2025, for most obligated entities. This adjustment by t
The implementation deadline for e-Deliveries (e-Doręczenia), initially set for October 1, 2024, has been postponed by three months to January 1, 2025, for most obligated entities. This adjustment by the Ministry of Digitalization is due to the need for legislative processes and amendments to the electronic delivery act. E-Deliveries are a secure, trusted service for sending, receiving, and storing correspondence online, offering legal certainty equivalent to registered mail with return receipt. Key features include clear sender/recipient identification, confidentiality, data integrity, proof of sending/receipt with timestamps, and swift address verification.
The obligation applies to both public and private sector entities, including government bodies, social security institutions (ZUS, KRUS), healthcare entities (NFZ), educational institutions, courts, prosecutors, law enforcement, and all registered entrepreneurs (CEIDG, KRS). Certain public trust professions like lawyers, legal advisors, tax advisors, restructuring advisors, patent attorneys, and notaries are also mandated. For public administration and public trust professions, the obligation starts January 1, 2025. For businesses, deadlines vary based on registration dates, with some needing e-Delivery addresses as early as April 1, 2025, and others by October 1, 2026, or July 1, 2025, if changes are made to their registration after June 30, 2025. By October 2029, all public entities, local governments, courts, bailiffs, and prosecutors must conduct official correspondence via e-Deliveries. This system aims to improve efficiency, speed, security, and cost-effectiveness in document exchange.
Artificial Intelligence in Moore Polska - or Do We Need More Support from AI?
8/8/2024
Artificial intelligence is increasingly important in human resources, aiding recruitment and talent management, boosting HR efficiency, and enhancing competitive advantage. Moore Polska utilizes AI in
인공지능(AI)은 채용 및 인재 관리를 지원하고 HR 업무 효율성을 증진시켜 기업의 경쟁력을 강화하는 데 핵심적인 역할을 하며, 인사(HR) 분야에서 그 중요성이 날로 커지고 있습니다. Moore Polska는 다음과 같은 주요 영역에서 AI를 적극적으로 활용하고 있습니다.
AI는 키워드, 기술, 경력 등을 바탕으로 지원서를 자동 분류하는 이력서 검토 작
Artificial intelligence is increasingly important in human resources, aiding recruitment and talent management, boosting HR efficiency, and enhancing competitive advantage. Moore Polska utilizes AI in several key areas.
AI automates CV screening, sorting through applications for keywords, skills, and experience, although Moore Polska recruiters prioritize a thorough review to identify potential talent even in early-career candidates. AI-powered chatbots can conduct initial interviews, freeing recruiters for advanced stages, but Moore Polska tailors interviews to team needs, optimizing the process. AI aids in creating recruitment ads by optimizing content and analyzing the job market; Moore Polska recruiters also use AI for keyword verification and spelling checks while personalizing each ad with company information.
AI automates communication with candidates, though Moore Polska uses it judiciously for general messages, adding personalized details. AI also helps in preparing documents and presentations, with Moore Polska using AI for basic content and charts, ensuring brand consistency.
In conclusion, AI is transforming HR, increasing efficiency and competitiveness, while attracting top talent. Moore Polska blends modern solutions with a traditional, people-focused approach.
인공지능(AI)은 채용 및 인재 관리를 지원하고 HR 업무 효율성을 증진시켜 기업의 경쟁력을 강화하는 데 핵심적인 역할을 하며, 인사(HR) 분야에서 그 중요성이 날로 커지고 있습니다. Moore Polska는 다음과 같은 주요 영역에서 AI를 적극적으로 활용하고 있습니다.
AI는 키워드, 기술, 경력 등을 바탕으로 지원서를 자동 분류하는 이력서 검토 작업을 수행합니다. 하지만 Moore Polska의 채용 담당자는 경력이 많지 않은 지원자에게서도 잠재력을 발견하기 위해 모든 지원서를 직접 꼼꼼히 검토하는 것을 원칙으로 합니다. AI 챗봇은 초기 면접을 진행하여 채용 담당자가 더 심층적인 단계에 집중할 수 있도록 돕습니다. Moore Polska는 이 과정에서 각 팀의 특성에 맞는 맞춤형 면접을 통해 채용 절차를 최적화합니다. 또한 AI는 콘텐츠를 최적화하고 채용 시장을 분석하여 효과적인 채용 공고 작성을 지원합니다. Moore Polska의 채용 담당자 역시 AI를 활용해 키워드를 검증하고 오탈자를 확인하며, 여기에 회사 정보를 더해 각 공고에 개성을 부여합니다.
AI는 지원자와의 커뮤니케이션을 자동화하는 데에도 사용됩니다. 물론 Moore Polska는 일반적인 안내 메시지에만 제한적으로 활용하며, 개인적인 내용을 덧붙여 소통의 깊이를 더합니다. 문서 및 발표 자료 준비 과정에서도 AI를 통해 기본적인 콘텐츠와 차트를 생성하고, 이를 통해 브랜드 정체성의 일관성을 유지합니다.
결론적으로 AI는 HR 분야를 혁신하며 업무 효율성과 경쟁력을 높이고, 우수한 인재를 유치하는 데 기여하고 있습니다. Moore Polska는 이처럼 현대적인 기술과 사람 중심의 전통적인 가치를 조화롭게 결합하고 있습니다.
Accounting Books: Transformation and Closure of Books When Applying Flat-Rate Tax on Corporate Income. What About the Tax Period?
법인세 단일세율 적용 시 회계 장부의 전환 및 마감, 그리고 과세기간은?
8/6/2024
The Estonian CIT taxation, implemented through the CIT act, covers a four-year tax period declared by the taxpayer in form ZAW-RD. However, changes in a company's legal form requiring the closure of a
The Estonian CIT taxation, implemented through the CIT act, covers a four-year tax period declared by the taxpayer in form ZAW-RD. However, changes in a company's legal form requiring the closure of accounting books introduce additional regulations that can affect the duration of the taxation period. The article discusses interpretations and the position of the Director of the National Fiscal Information (DKIS), as well as further legal actions taken by a company in response to this situation.
According to CIT law, the lump-sum taxation covers a four-year period immediately following the date specified by the taxpayer in form ZAW-RD. If separate regulations mandate the closure of accounting books before the taxpayer's chosen tax year ends, the tax year is considered to run from the first day of the month following the end of the previous tax year to the day the books are closed. In this case, the next tax year runs from the day the books are opened to the end of the taxpayer's chosen year.
Accounting books must be closed on the day preceding a change in legal form. The DKIS stated that the lump-sum taxation period declared in ZAW-RD is a minimum period. While it can be extended, for instance, by changing the fiscal year during the lump-sum taxation period, it cannot be shortened. A company challenged this interpretation, arguing that closing accounting books due to transformation would create two tax years in 2023, shortening the four-year period. The company's complaint to the Provincial Administrative Court (WSA) was unsuccessful, and the case is awaiting review by the Supreme Administrative Court (NSA) after an appeal.
On July 23, 2024, the Constitutional Tribunal ruled on the reporting of tax schemes (MDR), finding the regulations unconstitutional insofar as they obligate tax advisors to disclose information covere
On July 23, 2024, the Constitutional Tribunal ruled on the reporting of tax schemes (MDR), finding the regulations unconstitutional insofar as they obligate tax advisors to disclose information covered by professional secrecy to the tax authorities. The National Council of Tax Advisors challenged the MDR regulations in 2019, arguing they violated tax advisor confidentiality, following their implementation into Polish law based on the DAC 6 EU directive.
The Tribunal, after nearly five years, upheld the complaint, stating that the retroactive application of reporting requirements for domestic tax schemes was unconstitutional and violated the principle of *lex retro non agit*. It questioned provisions requiring tax advisors bound by professional secrecy to provide information about tax schemes without sufficient criteria for exemption and deemed the obligation for tax advisor promoters to report non-cross-border schemes also unconstitutional.
The Tribunal reasoned that the regulations lacked legal clarity under Article 2 of the Constitution and hindered tax advisors from acting within the public interest under Article 17. It emphasized that any modification of professional secrecy must meet high legislative standards and proportionality regarding constitutional rights. The Tribunal indicated that, following the ruling, the state could only obtain information on tax schemes prepared by tax advisors via the beneficiaries who are obliged to report. While the Tribunal discontinued proceedings in other areas of the complaint, the MDR reporting regulations are not entirely eliminated from Polish law and taxpayers remain subject to the reporting requirements.
In today's dynamic work environment, empathy is crucial for effective leadership. It enables leaders to understand their employees' emotions and needs, building trust and boosting engagement. Empathet
In today's dynamic work environment, empathy is crucial for effective leadership. It enables leaders to understand their employees' emotions and needs, building trust and boosting engagement. Empathetic leaders motivate their teams, leading to higher productivity and job satisfaction. Developing empathy requires conscious effort, including active listening, observing non-verbal cues, and reflecting on one's own emotions.
Practical application involves regular one-on-one meetings, supporting work-life balance, and fostering a culture of open feedback. Challenges exist, such as balancing high standards with employee well-being, but empathy doesn't preclude achieving results; instead, it cultivates a more engaged team. Successful leaders like Satya Nadella of Microsoft and Jacinda Ardern of New Zealand exemplify the power of empathy in leadership. Empathetic leadership isn't merely a management tool but a mindset fostering strong, trust-based relationships, improving team atmosphere, and boosting employee efficiency.
Don't mislead the service provider! - Or when should a foreign entity use a Polish NIP and when a foreign NIP
7/23/2024
A Swiss company registered for VAT in Poland, but lacking a permanent establishment there, sought clarification on using its Swiss VAT ID for Polish-sourced transport services. The Polish tax authorit
A Swiss company registered for VAT in Poland, but lacking a permanent establishment there, sought clarification on using its Swiss VAT ID for Polish-sourced transport services. The Polish tax authority stated that since the company lacks a permanent establishment in Poland, it should use its foreign VAT ID, even if registered for VAT in Poland. Using a Polish VAT ID could mislead the service provider about the place of supply. The authority confirmed that the company can deduct VAT from invoices with its Swiss VAT ID for services taxed in Poland. Correcting such invoices with a credit note is unnecessary, as the invoices are correct. The tax authority emphasized that if a foreign entity has a permanent establishment in Poland that participates in a transaction, it must use a Polish VAT ID. However, in this case, the Swiss company does not have a fixed establishment. Moore Polska Tax & Legal offers assistance in navigating complex tax regulations and securing individual interpretations.
Energy voucher in 2024? Amount will depend on income
7/19/2024
The energy bonus for 2024 is a form of support for households, with the amount depending on their income. Applications can be submitted from August 1st to September 30th, 2024, and the municipal autho
The energy bonus for 2024 is a form of support for households, with the amount depending on their income. Applications can be submitted from August 1st to September 30th, 2024, and the municipal authority has 60 days to process them. The regulations, introduced by a law passed by the Sejm on May 23rd, 2024, are effective from June 13th, 2024.
The amount of the energy bonus for 2024 depends on household income, targeting those whose average income in 2023 did not exceed 2500 PLN per person in a single-person household or 1700 PLN per person in a multi-person household. The bonus amounts vary based on household size: 300 PLN for single-person, 400 PLN for 2-3 person, 500 PLN for 4-5 person, and 600 PLN for households of 6 or more. These amounts are doubled if the main heating source is electricity and registered in the central emissions registry.
Even if income exceeds the criteria, the bonus is granted, reduced by the excess amount, provided the bonus remains at least 20 PLN. The Sejm passed the law on May 23rd, 2024, signed by the President on June 7th, 2024, and it came into effect on June 13th, 2024. Payments will be made in late 2024 and early 2025.
Estonian CIT – What are the 7 Risks Associated with it? Analysis
7/17/2024
This material comprehensively discusses seven key risks associated with Estonian CIT, a crucial resource for businesses considering this taxation system.
The risks include: **Hidden Profits:** Define
This material comprehensively discusses seven key risks associated with Estonian CIT, a crucial resource for businesses considering this taxation system.
The risks include: **Hidden Profits:** Defined as benefits to shareholders related to profit participation, encompassing loans, donations, representation expenses, and transaction market value excesses. Exceptions apply, such as salaries below a certain threshold. **Transfer Pricing:** Transfer pricing regulations still apply; companies must prepare relevant documentation. **Significant Limitations:** The flat-rate taxation lasts for four years, extendable if certain employment or expense conditions are met. Companies cannot acquire shares in other companies or use tax reliefs like R&D or IP Box. **Loss of Eligibility:** Losing eligibility occurs at the end of the four-year period or due to non-compliance with passive income, employment, legal form, or ownership structure requirements. Re-election is possible after three years. **Exclusion from Reliefs:** Estonian CIT excludes the use of reliefs such as bad debt relief, R&D relief, IP Box, innovative employee relief, and others. **Limitation on Loss Deduction:** Companies lose the right to deduct past losses, although deductions are possible in the two years preceding the first flat-rate year, provided the system is used for at least four years. **Election During the Tax Year:** Choosing the flat rate is possible mid-year by filing a ZAW-RD notification before the financial statement preparation.
The "7 Risks Associated with Estonian CIT" guide is offered for download, and further inquiries are welcomed.
The EU's DAC7 directive, effective from July 1, 2024, concerning the reporting of income earned through digital platforms, has been implemented into Polish law via a new act published on June 17, 2024
The EU's DAC7 directive, effective from July 1, 2024, concerning the reporting of income earned through digital platforms, has been implemented into Polish law via a new act published on June 17, 2024. This legislation introduces obligations not only for digital platform operators but also for promoters and assistants involved in the protection of personal data of individuals.
A new Article 86da of the Tax Ordinance mandates promoters and assistants providing information about tax schemes concerning individuals to inform these individuals in writing about the collection, processing, and transfer of their data, as well as their rights to access information from the data controller, before the information is transferred. They must also promptly notify individuals in writing if there is a potential breach of security regarding their personal data collected and processed for automatic information exchange, particularly if it could negatively impact their data protection.
Exceptions to this obligation exist when the information provided doesn't concern individuals or when the entity acts solely as a user. When acting as a data controller, promoters and assistants must provide detailed information including their identity, contact details, the purpose and legal basis for processing data, recipients of the data, storage period, rights to access, rectify, or delete data, the right to complain to a supervisory authority, and whether providing data is a statutory or contractual requirement.
The law defines "data breach" broadly, encompassing any security breach resulting from intentional, unlawful actions, negligence, or accidents, leading to data destruction, loss, alteration, unauthorized access, disclosure, or use, especially concerning personal data. Entities must regularly review and update internal procedures to comply with the new regulations, particularly regarding MDR reporting and personal data protection. Non-compliance can result in penalties up to 2,000,000 PLN, or up to 10,000,000 PLN for unreported obligations, and potential RODO fines of up to 20 million EUR or 4% of annual global turnover. The act aims to combat tax fraud by standardizing financial reporting for digital operators in the EU and updates existing MDR procedures.
Taxation of advance profit payments in a limited joint-stock partnership
有限合伙企业利润预分配的税务处理
7/8/2024
The taxation of advance payments on profit for general partners in limited joint-stock partnerships (SKA) is interpreted differently by tax authorities and administrative courts. It is crucial to unde
The taxation of advance payments on profit for general partners in limited joint-stock partnerships (SKA) is interpreted differently by tax authorities and administrative courts. It is crucial to understand the positions of both to avoid tax errors.
Article 41(4e) of the Personal Income Tax (PIT) Act mandates SKAs to collect a flat-rate income tax (19%) on dividends and other income from profit participation, as per Article 30a(1)(4), considering the rules in Article 30a(6a-6e). Article 30a(6a) allows this tax to be reduced by an amount calculated as the product of the general partner's percentage share in the profit and the tax due from the SKA's income.
Tax interpretations vary. A KIS interpretation from July 23, 2021, states that advance payments to general partners are taxable at 19% upon payment, requiring the company to collect the tax. However, a June 7, 2021, interpretation suggests the company doesn't need to collect the tax at the time of payment; instead, the tax should be calculated after the SKA's tax for the fiscal year is determined, according to Article 30a(6a).
The Supreme Administrative Court (NSA) echoed the latter view, stating that calculating the general partner's income tax requires knowing the SKA's tax due for the year, making the tax obligation arise only after the company files its CIT return. Taxpayers who opt to withhold tax on advance payments can apply for a refund based on overpayment. If the NSA's view is adopted, the SKA would withhold tax only after calculating its income following the CIT return. The withheld tax is due by the 20th of the following month and reported in PIT-8AR. If no tax is withheld, the general partner reports it in their annual PIT return for the year the SKA filed its CIT return.
Navigating this complex issue requires careful consideration and consultation with a tax advisor.
Transfer pricing – the documentation obligation not just for the largest entities
7/4/2024
Many entrepreneurs face significant uncertainty regarding transfer pricing obligations due to dynamic legal changes and increasing reporting and documentation requirements. Moore Polska Tax & Legal of
Many entrepreneurs face significant uncertainty regarding transfer pricing obligations due to dynamic legal changes and increasing reporting and documentation requirements. Moore Polska Tax & Legal offers support by sharing knowledge and preparing essential documents and analyses to ensure tax function safety. Transfer pricing refers to the financial outcomes of conditions set between related entities, designed to prevent tax base erosion and profit shifting.
Entities are considered related if they have capital or personal ties, or if they are located in tax havens or their foreign establishments are in such jurisdictions. While adhering to the Arm's Length Principle is crucial, most taxpayers also face documentation obligations. Thresholds for mandatory documentation include PLN 10 million for goods and financial transactions, and PLN 2 million for services and other transaction types. These thresholds apply to transactions with related parties and entities influenced by the taxpayer's connections.
While exemptions and simplified documentation options exist, they require thorough analysis due to numerous exclusions and conditions. For example, domestic entities might be exempt if they meet specific criteria, but each related party must comply, and the TPR-C form still needs submission. Certain transaction types, like pure resale with no added value and immediate settlement, can also be exempt, provided they aren't linked to other controlled transactions and involve entities not in tax havens. However, proving the absence of a link to other controlled transactions is often challenging.
Moore Polska Tax & Legal assists clients with various transfer pricing matters, including transaction verification, local file preparation, TPR-C/TPR-P information, Master File documentation, tax haven transaction support, market price analyses, transfer pricing policy reviews, and training.
Cybersecurity. Amendment to the Act on the National Cybersecurity System – Reasons, Essence, and Means of Implementation
7/3/2024
The proposed legislation aims to implement the EU Directive 2022/2555 concerning measures for a high common level of cybersecurity across the Union, known as NIS 2. This update is driven by the rapid
The proposed legislation aims to implement the EU Directive 2022/2555 concerning measures for a high common level of cybersecurity across the Union, known as NIS 2. This update is driven by the rapid advancement of technology, the increasing number of online public services, and emerging cyber threats. Both public institutions and private entities are facing escalating cybersecurity challenges, requiring greater resource allocation for protection. The current international situation and the need to serve a wider customer base also necessitate strengthening the national cybersecurity system. Statistics show a significant rise in reported cybersecurity incidents, with over 39,000 in 2022 and over 75,000 in 2023.
The NIS 2 directive and its implementation necessitate modifications to the existing Act on the National Cybersecurity System (KSC). Key changes include replacing "postal service operators" and "digital service operators" with "essential entities" and "important entities," who will be the primary recipients of legal obligations. The updated KSC will expand the scope of covered entities to include new economic sectors. It will impose risk management obligations on essential and important entities, establish a system for reporting incidents to CSIRT teams, and create sectoral CSIRT teams to assist entities. Furthermore, supervisory authorities' powers will be enhanced, and new administrative fines will be introduced for non-compliance, with proposed minimums of PLN 20,000 for essential entities and PLN 15,000 for important entities. A national plan for responding to large-scale cybersecurity incidents and crises will be developed, and the minister responsible for digitalization will gain expanded competencies, including identifying high-risk suppliers and issuing security orders.
This bill supports the objectives of the Polish Cybersecurity Strategy 2019–2024, focusing on enhancing resilience to cyber threats and protecting information across public, military, and private sectors. It also contributes to the development of the national cybersecurity system and secures supply chains, fulfilling a milestone in the National Recovery and Resilience Plan.
Whistleblowers – New Law from 2024. Key Changes and Obligations for Employers
7/1/2024
A new law on whistleblower protection was published on June 24, 2024, implementing the EU Whistleblower Directive. The law generally comes into effect on September 25, 2024, with external reporting ob
A new law on whistleblower protection was published on June 24, 2024, implementing the EU Whistleblower Directive. The law generally comes into effect on September 25, 2024, with external reporting obligations starting December 25, 2024.
A whistleblower is any individual reporting legal infringements observed in their workplace, obtained through their work. This includes employees, B2B contractors, civil law contractors, and even company officers like partners and board members. Whistleblowers will receive special protection guaranteed by employers.
Whistleblowers can report various infringements, including corruption, public procurement violations, financial services issues, anti-money laundering concerns, environmental protection breaches, and consumer protection violations.
Employers are obligated to provide internal reporting channels that ensure whistleblower anonymity and allow for remedial actions to address and prevent future infringements. These procedures must define who receives reports and who takes action. External reporting will be managed by the Commissioner for Human Rights starting December 2024.
The law offers broad protection against employer retaliation, such as refusal of employment, disciplinary dismissal, pay cuts, denial of promotion, mobbing, discrimination, and unfair treatment.
Employers with 50 or more employees (including non-employment contract workers) are required to establish these internal reporting procedures and protection mechanisms. Failure to comply can result in criminal liability, including imprisonment.
This new law significantly enhances protections for individuals who report violations of the law within their organizations.
Values, 35th Anniversary of Moore Polska and Celebration. Summary of the Great Integration #MoorePolskaTeam 2024
6/21/2024
The Moore Polska Team 2024 integration event took place on June 13th and 14th, bringing together over 180 employees from the company's 10 offices across 8 cities. The event focused on strengthening th
The Moore Polska Team 2024 integration event took place on June 13th and 14th, bringing together over 180 employees from the company's 10 offices across 8 cities. The event focused on strengthening the company's community and establishing a foundation for the future.
The first day featured a workshop aimed at fostering connections and defining Moore Polska's core values, addressing the common issue of employees being disconnected from company values. The integration also celebrated Moore Polska's 35th anniversary with a "Roaring Twenties" themed party, featuring costumes and revelry. The company was founded in 1989 in Poznań, and five years later in Gdańsk.
The second day involved a relaxing team-building activity at Kuźnia Napoleońska, where participants engaged in a Sherlock Holmes-themed adventure. The event reinforced the sense of teamwork and camaraderie within Moore Polska, highlighting the company's supportive and empathetic work environment. The integration was deemed a success, promoting both celebration and the reinforcement of company values and relationships.
European Accessibility Act (EAA) and its impact on the operation of companies in Poland
6/19/2024
On May 9, 2024, the President of Poland approved a law implementing the European Accessibility Act (EAA) into Polish law, effective June 28, 2025. This act complements the Polish "Accessibility Plus"
On May 9, 2024, the President of Poland approved a law implementing the European Accessibility Act (EAA) into Polish law, effective June 28, 2025. This act complements the Polish "Accessibility Plus" program by establishing accessibility requirements for specific products and services offered by private sector entities. The EAA aims to improve the internal market by removing barriers to the free movement of accessible goods and services.
The EAA defines individuals with functional limitations broadly, aligning with the Polish term "persons with special needs." It seeks to increase accessibility for all, regardless of ability, and raise awareness about accessibility issues. The law mandates that businesses offering products and services covered by the directive, including manufacturers, distributors, importers, and service providers, must comply with its accessibility requirements.
Covered products include general-purpose computer hardware systems and operating systems, payment terminals, self-service terminals, ATMs, ticketing machines, consumer terminal equipment for telecommunications and audiovisual media services, and e-books. Covered services include access to audiovisual media services, passenger transport (road, air, rail, and water), retail banking, e-book distribution, and e-commerce. The implementation of the EAA is a significant step toward fostering a more inclusive and accessible society by harmonizing Polish law with EU standards and promoting equality.
Since the economic transformation of 1989, Poland has witnessed significant economic and social changes. Many companies emerged, facing numerous challenges. A report by the Family Firms Foundation she
Since the economic transformation of 1989, Poland has witnessed significant economic and social changes. Many companies emerged, facing numerous challenges. A report by the Family Firms Foundation sheds light on businesses that have not only survived but thrived, becoming pillars of the Polish economy.
Resilience has been key to survival, enabling firms to adapt to changing conditions, including global recessions, legislative changes, the COVID-19 pandemic, and the conflict in Ukraine. The report identifies 13,776 companies founded in 1989 still operating in Poland. These businesses have contributed to Poland's economic growth through innovation and technology adoption, proving more agile and faster in decision-making than larger corporations. Most are SMEs, often family-run, facilitating quicker decisions, but also presenting succession and risk management challenges. Succession planning is crucial for family businesses, balancing tradition with modern approaches, and can drive growth when implemented strategically. Increasingly, women are taking leadership roles, bringing fresh perspectives and fostering diverse teams. These established businesses face challenges like rising energy costs, inflation, and regulatory changes, but their experience prepares them for the future. Investing in technology, education, and sustainable development is vital. Moore Polska, a firm with 35 years of history, combines family values with global standards, offering audit, accounting, legal, tax, and ESG services.
National e-Invoice System (KSeF): What entrepreneurs should know
6/5/2024
KSeF is a new IT system in Poland mandating electronic structured invoicing for all businesses. While it raises concerns, it also offers opportunities to streamline accounting and administrative proce
KSeF is a new IT system in Poland mandating electronic structured invoicing for all businesses. While it raises concerns, it also offers opportunities to streamline accounting and administrative processes. KSeF allows generating invoices in XML format, ensuring tax compliance and automated document processing. Businesses can issue e-invoices directly or via integrated accounting systems. Automation is key, enabling bulk sending, automatic status checking.
Solutions like SaldeoSMART offer tools for managing invoices, improving accounting efficiency with features like user permission management, automatic invoice validation, automatic invoice retrieval and visualization, and customized approval workflows.
Preparing for KSeF requires understanding the system and adapting internal processes. Consulting experts and software providers is crucial for integration. While challenging, KSeF offers opportunities to improve accounting, saving time, reducing errors, and enhancing data security. With preparation and tools like SaldeoSMART, adapting to KSeF can be seamless, improving time and resource management. Leveraging KSeF's potential is key to effective invoice and documentation management. Transitioning to KSeF is a significant change, but with the right support and technology, it can improve operational efficiency, making it a strategic investment.
What is the best accounting system? See the Moore Polska ranking and read our study!
6/4/2024
Choosing the right accounting system is vital for companies seeking to automate financial processes. Moore Polska's Financial Accounting Systems Ranking offers insights into user satisfaction across i
Choosing the right accounting system is vital for companies seeking to automate financial processes. Moore Polska's Financial Accounting Systems Ranking offers insights into user satisfaction across industries. The ranking, based on extensive surveys, evaluates systems on criteria like interface intuitiveness, system flexibility, reporting functionality, and integration ease. The analysis identifies systems praised for effectiveness, intuitiveness, and flexibility, highlighting the value of advanced configurations and broad functionality for tailoring to specific company needs and providing quick access to crucial information.
The research emphasizes the importance of flexibility and integration capabilities, particularly for businesses of varying sizes, enabling adaptation to market and legal changes. The report incorporates user opinions, providing practical insights into system performance. It suggests that there's no universally perfect system, and careful analysis is key before selection. The report advises leveraging practical knowledge to optimize, streamline, and automate financial processes. Readers are encouraged to download the free ranking and subscribe to a newsletter for updates on accounting, auditing, and business consulting.
6th International Economic Forum. Moore Poland Business Champion 2024
6/3/2024
The International Economic Forum offers lectures and panel discussions with experts, networking sessions, and workshops on business solutions. Moore Polska's Managing Partners, Lidia Skudławska and Pi
The International Economic Forum offers lectures and panel discussions with experts, networking sessions, and workshops on business solutions. Moore Polska's Managing Partners, Lidia Skudławska and Piotr Witek, participated actively. Piotr Witek spoke on modern leadership in the "Leader of the Future" session on June 5th. Lidia Skudławska presented innovative legal and financial advisory solutions in the "Legal and Financial Sector as the Basis of Stabilization and Development" session, also on June 5th.
Moore Polska received the "Champion Biznesu 2024" award from the European Centre for Economic Development for its economic contribution, positive image of the Polish economy, responsible business practices, high business and ethical standards, and strengthening its brand of quality and trust. The organization invites attendees to visit its stand at the Silesian Stadium to learn more about their offerings, network, and discuss collaboration opportunities. Experts will be available to answer questions and share their knowledge. The forum emphasizes the importance of relationships in business.
The event includes lectures, networking, and insights into innovations and workshops. An interview with Lidia Skudławska and Piotr Witek regarding the 6th International Economic Forum 2024 at the Silesian Stadium in Chorzów is available to view.
Advantages of a virtual office as an address for sole proprietorships
5/29/2024
For many new entrepreneurs, office rental costs can be a significant financial burden. A virtual office not only eliminates this problem but also provides a professional company image and helps meet l
For many new entrepreneurs, office rental costs can be a significant financial burden. A virtual office not only eliminates this problem but also provides a professional company image and helps meet legal requirements for a mailing address and business registration.
A virtual office is a service that allows registration of a business at a virtual address, without the need for a physical office. This service also includes receiving and managing correspondence, which is convenient for entrepreneurs working remotely or from various locations.
Polish law requires every entrepreneur to indicate an address where they will conduct business. A virtual office enables this requirement to be met, offering legal title to the address through a lease agreement. Lack of legal title can lead to problems with VAT registration and potential deletion from the Central Registration and Information on Business (CEIDG).
Signing a virtual office lease agreement before registering a business allows for better planning and organization of the initial phase of running the company. This ensures a smooth transition from the registration process to the actual commencement of operations, minimizing stress related to formalities and allowing for a focus on business development.
In summary, a virtual office offers not only cost savings and flexibility but also a solid foundation for building a professional company image.
Virtual offices offer a cost-effective and flexible solution for entrepreneurs. They eliminate the burden of physical office rental while providing a professional business address for registration and correspondence. Crucially, a virtual office ensures compliance with legal requirements, as Polish law mandates a registered business address. Securing a virtual office lease before registering a business streamlines the initial setup, preventing potential issues with VAT registration and business listing. By handling mail and offering a credible address, virtual offices allow entrepreneurs to focus on core business activities rather than administrative tasks. Therefore, a virtual office provides cost-efficiency, legal compliance, and a professional image, all vital for success in today's competitive business environment.
Legality and benefits of using a virtual office as a company registration address
5/22/2024
In the era of digitalization and remote work, many entrepreneurs are opting for e-offices as a legal address for business registration, despite some initial hesitations from tax authorities. The legal
In the era of digitalization and remote work, many entrepreneurs are opting for e-offices as a legal address for business registration, despite some initial hesitations from tax authorities. The legality of e-offices is supported by the Law on Freedom of Economic Activity, granting businesses the freedom to choose their registered office and provide services in their preferred manner. A 2014 Supreme Administrative Court ruling further reinforces this, stating businesses can operate from any location, including e-offices, facilitated by modern technology.
E-offices provide numerous benefits: safeguarding privacy by using the e-office address instead of a home address on public records, financial flexibility due to the absence of long-term contracts, and administrative assistance. Security measures employed by e-office providers protect client data. When choosing an e-office, factors to consider include the prestige of the location, offered additional services (mail handling, document scanning, legal support), and client reviews.
Cryptocurrencies: VAT exemption for the sale of cryptocurrencies. Analysis of regulations and practical application
5/21/2024
Cryptocurrency sales in Poland may be exempt from VAT, which is a significant benefit for businesses operating in this rapidly growing industry. However, correctly determining the place of service pro
Cryptocurrency sales in Poland may be exempt from VAT, which is a significant benefit for businesses operating in this rapidly growing industry. However, correctly determining the place of service provision and the tax status of foreign counterparties is crucial to take advantage of the available exemptions.
According to the VAT Act, the sale of cryptocurrencies is considered a service. Transactions involving currencies, banknotes, and coins used as legal tender are VAT-exempt. Virtual currency units accepted as alternative means of payment fulfill the function of legal tender, thus, cryptocurrency sales fall within this exemption.
The place of service provision is a key factor. If it's within Poland, the sale is VAT-exempt. However, if the place of service isn't in Poland, specific articles of the VAT Act apply, indicating that services provided to foreign entities are not subject to VAT in Poland. It's essential to determine if the foreign client meets the definition of a taxpayer, meaning they independently conduct economic activity, even under other countries' legal systems.
In practice, Polish cryptocurrency sales are VAT-exempt, provided the place of service is correctly determined and the foreign counterparty's tax status is verified. Businesses should analyze each transaction carefully to ensure compliance with VAT exemption requirements and consider professional tax advisory services to avoid potential disputes with tax authorities.
E-office: a revolution in cost management and efficiency for modern enterprises
5/15/2024
E-offices offer a wide range of services designed to alleviate administrative burdens for businesses, allowing them to concentrate on core objectives. Benefits include a prestigious business address,
E-offices offer a wide range of services designed to alleviate administrative burdens for businesses, allowing them to concentrate on core objectives. Benefits include a prestigious business address, secretarial support, and access to equipped meeting rooms. They provide legal, accounting, and business consulting.
One key advantage is significant cost reduction by eliminating expenses related to traditional office space, equipment, and administrative staff. Outsourcing to e-offices frees up time and reduces stress by handling daily administrative tasks. A prestigious address enhances the company's image, building trust with clients and partners.
E-offices offer flexible, customizable service packages, allowing businesses to select only what they need, optimizing costs and operational efficiency. It allows strategic resource management, elevates company prestige, and improves overall effectiveness. This adaptability makes e-offices increasingly popular for businesses of all sizes seeking modern and efficient operational improvements. Choosing an e-office can provide significant benefits, allowing a focus on developing key competencies and achieving long-term goals.
E-office – a modern cost management strategy for companies
5/8/2024
Founded in 1994 by Ralph Gregory, e-offices revolutionized business operational cost management. What began as a simple address rental service for business registration has evolved into comprehensive
Founded in 1994 by Ralph Gregory, e-offices revolutionized business operational cost management. What began as a simple address rental service for business registration has evolved into comprehensive office process outsourcing, reducing the need for physical office space and personnel.
E-offices significantly cut costs by offering business registration addresses and comprehensive administrative and accounting services. They reduce expenses related to office rentals, staffing, and equipment. Modern e-offices provide services like virtual secretarial support (phone answering, schedule management, invoicing), specialized consulting (legal, accounting, financial, IT, HR), and conference room rentals. A prestigious address enhances brand credibility, allowing businesses to use it in corporate communications and marketing. E-offices benefit small and medium-sized enterprises by enabling them to focus resources on core activities. Selecting an e-office requires considering location, service range, and client reviews, ensuring services align with specific business needs.
E-offices offer cost-effective and flexible solutions for modern entrepreneurs in a dynamic business environment. This not only reduces costs but also significantly enhances business efficiency. With minimal financial outlay, businesses can benefit from a professional image and additional services, making e-offices a strategic choice for companies at all development stages.
Increase the efficiency of your company with OPTIMAL workshops! Start with optimizing work in the Comarch ERP Optima system.
4/25/2024
In today's dynamic business environment, the OPTIMAlnie training program, designed for Comarch ERP OPTIMA users, offers a path to operational excellence. This program aims to increase company efficien
In today's dynamic business environment, the OPTIMAlnie training program, designed for Comarch ERP OPTIMA users, offers a path to operational excellence. This program aims to increase company efficiency by streamlining internal processes and eliminating waste. Moore Polska, with its expertise in accounting services, continuously improves its operations and now extends this knowledge through OPTIMAlnie, helping accountants save time and reduce daily struggles.
Comarch ERP Optima, a popular system for Polish SMEs, offers dedicated modules for various business areas, making it a preferred accounting software for firms and tax advisors. The OPTIMAlnie training provides practical knowledge to leverage the system's full potential, enhancing accounting processes, productivity, and work efficiency. Developed by experienced practitioners, the program focuses on the practical application of Comarch ERP OPTIMA, teaching functions that accelerate and simplify daily tasks.
Aimed at accounting professionals, firms, and individual accountants, the training is beneficial for both current and future users. It offers a solid foundation for personal efficiency with Comarch ERP OPTIMA, revealing untapped possibilities and reducing time-consuming activities. The program emphasizes practical knowledge application, using real-world data in a workshop format to solve everyday accounting problems. OPTIMAlnie is an investment in professional development, benefiting individuals, teams, and entire organizations. Participants report enhanced practical skills in using Comarch ERP OPTIMA.
"Rzeczpospolita" Auditors Ranking 2024 – Moore Polska maintained 9th place. For 35 years, we have been creating a history of success
4/19/2024
Moore Polska, led by Lidia Skudławska and Piotr Witek, maintains its position as a leader in innovation and integrity in finance and auditing. The company is proud of its achievements, resulting from
Moore Polska, led by Lidia Skudławska and Piotr Witek, maintains its position as a leader in innovation and integrity in finance and auditing. The company is proud of its achievements, resulting from the hard work of its team, securing 9th place in the "Rzeczpospolita" Auditors Ranking 2024 and advancing to 10th place (up two spots from 2023) in the Ranking of Audit Firms Examining Companies on the Warsaw Stock Exchange. This reflects the company's team passion, determination, and empathetic approach to clients, fostering a culture of continuous improvement.
Lidia Skudławska emphasized the importance of teamwork upon receiving the award for 9th place in the "Best Audit Firm" category. With nearly 35 years in the Polish market, Moore Polska blends tradition with modernity, upholding the values established by its founders while pioneering modern financial solutions. The company's history is marked by challenges that have shaped its leadership, enabling the introduction of technological and methodological innovations that meet evolving market needs. Moore Polska invests in the future, promotes ethical business practices, and supports transparency for sustainable financial development, which sets it apart. Its commitment, development of employees and customer relation, allows the firm to continue innovating and maintaining their high position.
Looking ahead, Moore Polska aims to strengthen its leadership in auditing for medium-sized companies and those on the Warsaw Stock Exchange. The company is ready for new challenges, adapting strategies to stay ahead while upholding the highest ethical and quality standards.
Revolution in the e-Tax Office – Organizational Account
4/18/2024
In recent years, the digitization of administrative processes has streamlined accounting and tax procedures. A notable innovation is the introduction of organizational accounts within the e-Tax Office
In recent years, the digitization of administrative processes has streamlined accounting and tax procedures. A notable innovation is the introduction of organizational accounts within the e-Tax Office, providing new opportunities for entities like companies, foundations, and associations to manage taxes and interact with the National Tax Administration (KAS).
Organizational accounts offer access to services previously exclusive to individuals, simplifying tax management for various organizational forms. Access requires authorizing an individual with a PESEL number, with two access levels available.
Key benefits include the ability to consent to electronic correspondence, submit documents to KAS, request tax clearance certificates free of charge, file ZAW-NR notifications, review registration data, and utilize other expanding services.
A crucial feature is the taxpayer report, providing information on declaration errors, arrears, enforcement actions, and registered business locations and bank accounts, facilitating ongoing tax status monitoring. Experts recommend actively using organizational accounts in the e-Tax Office for more efficient tax management. It streamlines daily tasks and enhances the security and transparency of tax processes. The organizational account in the e-Tax Office significantly contributes to improving and simplifying tax management processes.
Payroll and HR – Why choose Moore Polska services?
4/16/2024
Working in the HR and payroll department at Moore Polska is more than just a job; it's a passion. They offer effective and secure business relationships through dedication, reliability, and profession
Working in the HR and payroll department at Moore Polska is more than just a job; it's a passion. They offer effective and secure business relationships through dedication, reliability, and professionalism. Moore Polska tailors its HR and payroll services to each company's unique needs, regardless of size or industry, including employee documentation, employment processes, payroll and tax calculations, support for foreign employees, business consulting, and HR audits.
Their team of over 250 specialists possesses current knowledge of labor law and best business practices, gained from collaborating with companies across various sectors. They emphasize innovative technologies to streamline and automate processes, shortening task completion times and increasing accuracy. Collaboration with their legal department ensures compliance with current laws, offering support during audits.
Moore Polska prioritizes timely task completion while minimizing risks associated with errors or delays through continuous monitoring of regulatory changes. Their up-to-date knowledge of labor law and regulations enables them to provide top-tier services aligned with the latest trends. Their extensive experience working with companies from various sectors allows them to create optimal solutions for clients. Choosing Moore Polska means gaining the support of experts in HR and payroll, along with a guarantee of professionalism, reliability, and commitment.
Application of NRS and IFRS in the Absence of Regulations in the Accounting Act
3/28/2024
The use of National Accounting Standards (KSR) in Poland is not mandatory, as stipulated by the Accounting Act. Entities can choose to adopt KSR in two ways: either by applying all relevant KSR to the
The use of National Accounting Standards (KSR) in Poland is not mandatory, as stipulated by the Accounting Act. Entities can choose to adopt KSR in two ways: either by applying all relevant KSR to their operations and disclosing this in their financial statements and accounting policy, or by selectively incorporating specific named KSR into their accounting policy. However, it is prohibited to adopt only certain provisions from selected KSR.
If a National Accounting Standard is not available, entities may adopt International Financial Reporting Standards (IFRS). This option is only available if the entity has not opted to use KSR. Any applied IFRS regulations must not contradict the Accounting Act. KSR are designed to be compliant with the Act and ensure a fair and clear presentation of an entity's financial position and performance. IFRS, on the other hand, may contain significantly different solutions compared to KSR and the Act.
Adopting KSR for the first time is considered a change in accounting policy and must be disclosed in the financial statements. The text encourages entities to seek professional advice for any doubts regarding the application of national and international accounting regulations or the correctness of their accounting policies.
The provided text discusses the voluntary application of National Accounting Standards (KSR) in Poland. It outlines that entities can choose to adopt all relevant KSR or specific named ones, but selective application of provisions within standards is not permitted. The decision must be disclosed in the financial statements and accounting policy.
The text also presents International Financial Reporting Standards (IFRS) as an alternative when no suitable KSR exists, provided the entity has not opted for KSR. However, any adopted IFRS must be consistent with Polish accounting law. KSR are noted to align with the law and ensure clear financial reporting, while IFRS may differ.
The initial adoption of KSR is treated as a change in accounting policy and requires disclosure. The article concludes by advising entities to seek professional guidance on accounting regulations and policies.
Navigating Changing Regulations: How Moore Polska Ensures Tax and Legal Security
3/26/2024
Moore Polska sets the standard in tax and legal advisory professionalism, offering businesses reliable and comprehensive support in navigating evolving regulations. With a global reach and a team of o
Moore Polska sets the standard in tax and legal advisory professionalism, offering businesses reliable and comprehensive support in navigating evolving regulations. With a global reach and a team of over 250 experienced specialists, the company guarantees tax and legal solutions tailored to individual client needs. They are a key partner for businesses facing legislative challenges.
Moore Polska provides comprehensive tax and legal solutions for every business, acknowledging that continuous legal changes present challenges. They offer effective tax and legal advisory, combining expertise across various sectors with a team of specialists. Their extensive client portfolio allows them to understand diverse economic issues and mitigate associated risks.
The company enhances tax security by protecting businesses from tax risks through external advisory services and internal procedures that foster awareness of tax and legal risks. They offer retrospective reviews and due diligence, as well as prospective opinions to ensure security for key business decisions.
Moore Polska offers ongoing tax and legal advisory, including the subsumption of tax, commercial, civil, and labor law regulations, document preparation, and negotiation support. They analyze tax authorities' and administrative courts' approaches to tax law issues, providing clients with daily contact with advisors. They also issue monthly, customized tax and legal alerts to keep clients informed of current and upcoming regulatory changes.
Beyond tax advisory, Moore Polska provides comprehensive legal services in civil, commercial, and labor law, assisting with business matters, negotiations, and organizational restructuring.
They also organize training and education to help clients stay updated on tax and legal trends and practices. Choosing Moore Polska means gaining expert support, certainty, effectiveness, and security for business operations. Their engagement, experience, and comprehensive approach make them a leader capable of meeting difficult tax and legal challenges.
0% VAT on food to cease – how will this affect prices and households?
3/21/2024
Effective April 1, 2024, Poland is reinstating a 5% VAT rate on food products, ending the period of a zero percent rate implemented as part of an anti-inflation shield in response to economic challeng
Effective April 1, 2024, Poland is reinstating a 5% VAT rate on food products, ending the period of a zero percent rate implemented as part of an anti-inflation shield in response to economic challenges like the COVID-19 pandemic and the war in Ukraine. This measure had temporarily eliminated VAT on a wide range of essential food items, including meat, fish, dairy, eggs, honey, fruits, vegetables, and specific products for infants and medical purposes.
The decision to revert to the 5% VAT rate is attributed to the country's improving economic situation and decreasing inflation, which had fallen to 3.9%. The return to the standard VAT rate is expected to stabilize the market and the state budget in the long term.
Consumers may experience price increases on basic food items, impacting household budgets, especially those with lower incomes. While the 5% rate is relatively low, the reintroduction could create short-term market volatility as retailers adjust pricing. The food industry is preparing for the change. Experts emphasize that this step is a move toward normalizing the country's economic and fiscal situation. Companies like Moore Polska highlight the importance of monitoring the change's impact on inflation and the need for continued government support for households and the food sector.
The Significance of Financial Audit in Enterprise Development Strategy – Sustainable Growth in a Dynamic Business World
3/19/2024
The current rapidly changing economic environment demands continuous innovation and agile adaptation. Financial audits are thus an essential element of the development strategy for any entrepreneurial
The current rapidly changing economic environment demands continuous innovation and agile adaptation. Financial audits are thus an essential element of the development strategy for any entrepreneurial organization. Moore Polska, with over thirty-five years of experience, demonstrates how a professionally conducted audit not only ensures compliance with current regulations but also builds a foundation of trust among investors and business partners.
The Importance of Audits in Modern Business
An audit is crucial for modern business, ensuring transparency and building trust through financial verification. It enables risk identification and operational optimization, supporting sustainable company growth. It is also essential for meeting regulatory requirements, contributing to the stability and growth of enterprises. It therefore provides:
Building Trust: In the digital age, where information travels at the speed of light, trust has become the new currency in business. Moore Polska, through its professionalism and transparency in the audit process, enables companies to build strong relationships with investors, which is key to gaining and maintaining a competitive edge in the market. Support for Sustainable Development: Dynamic growth can be as promising as it is risky. Financial audits act as a compass, indicating areas of potential improvement and risk. With the knowledge and experience of Moore Polska experts, companies can avoid common pitfalls associated with rapid growth, ensuring stability and sustainable development. Regulatory Compliance: The financial world is characterized by a dense network of legal regulations. An audit is key to ensuring that a company's operations are fully compliant with applicable standards and regulations, which Moore Polska guarantees through its in-depth knowledge of local and international regulations. Operational Optimization: Furthermore, financial audits allow for the identification of opportunities to optimize business processes. By thoroughly analyzing a company's finances and operations, Moore Polska helps develop strategies that translate into increased efficiency and reduced costs.
Moore Polska offers a wide range of audit services tailored to the individual needs and requirements of each client. From detailed examination of financial statements, to the implementation of international accounting standards, to assistance in preparing financial documentation for an IPO. With a team of over 250 experts, Moore Polska provides support at every stage of a company's development.
Summary – Moore Polska Financial Audit
A financial audit conducted by Moore Polska is more than just a routine check. It is comprehensive support that enables companies not only to maintain regulatory compliance but also to build trust, optimize operations, and support sustainable development. In times when transparency and business responsibility are increasingly important, a professional audit is the foundation of a strong, growing, and lasting brand in the market.
On February 17, 2024, the Digital Services Act (DSA), informally known as the "Constitution of the Internet," officially took effect in Poland. This EU regulation aims to protect consumers and busines
On February 17, 2024, the Digital Services Act (DSA), informally known as the "Constitution of the Internet," officially took effect in Poland. This EU regulation aims to protect consumers and businesses online by ensuring the truthfulness of content and safeguarding fundamental rights in the digital space.
The DSA applies to providers of intermediary services, including online platforms, hosting services, content-sharing platforms, social media, e-commerce platforms, marketplaces, and cloud and server services. It particularly targets Very Large Online Platforms (VLOPs) and Very Large Online Search Engines (VLOSEs) operating in the EU, regardless of their location, but also affects smaller entities like educational platforms, online stores, and websites with user-generated content features.
The DSA aims to prevent the sale of illegal goods and services, protect minors from inappropriate content, and safeguard user data. It prohibits targeted advertising using sensitive personal data, the use of deceptive interfaces (dark patterns), and the publication of illegal or misleading content. Platforms must explain their algorithms, ensure transparent advertising, and implement content moderation policies with appeal mechanisms for users. They are required to establish reporting mechanisms for harmful or illegal content. Ultimately, the DSA seeks to enhance internet safety by empowering users and imposing greater responsibilities on service providers.
Increase your company's financial efficiency – choose Moore Polska accounting
3/12/2024
Moore Polska, with thirty-five years of tradition in accounting, recognizes that solid financial foundations are crucial for business success. Our experience, enriched by numerous successes, allows us
Moore Polska, with thirty-five years of tradition in accounting, recognizes that solid financial foundations are crucial for business success. Our experience, enriched by numerous successes, allows us to deeply understand the specifics of our clients' operations and flexibly adapt to the constantly changing market reality. Explore how our comprehensive accounting services can significantly contribute to increasing your company's efficiency and competitiveness.
Professionalism and precision in every detail are key to our philosophy, with a belief that financial success begins with an individual approach. Our team of over 250 experts is prepared to tackle accounting challenges with the utmost care and professionalism. By utilizing our services, your company can be freed from complex accounting processes, allowing you to focus on core business activities.
Our comprehensive accounting services cover a wide range of activities, including bookkeeping and revenue and expense ledgers, financial statement preparation (annual, IFRS/IAS, consolidated, and interim reports), management reporting for better financial analysis, tax control and accounting supervision (representing clients in tax proceedings, assisting during audits, and providing accounting oversight), and accounting advisory covering daily operations to complex tax settlements.
Choosing Moore Polska offers invaluable knowledge from over three decades of market experience, a team of versatile specialists, an individualized approach tailored to specific business needs, and cost and risk optimization for enhanced financial efficiency and minimized operational risk. We support businesses of all sizes and sectors, from small enterprises to large corporations.
Moore Polska provides more than just accounting services; it offers trusted partnership. We invite you to cooperate and build the future together. Contact us today to learn more about how we can support your business in achieving success.
The "Polish Woman of the 21st Century" initiative promotes women's roles through events and development programs, recognizing leaders in various fields like entrepreneurship and innovation. On March 8
'21세기 폴란드 여성' 이니셔티브는 다양한 행사와 개발 프로그램을 통해 여성의 사회적 역할 증진을 목표로 하며, 기업가 정신과 혁신 등 여러 분야의 여성 리더를 선정하여 시상합니다. 2024년 3월 8일, 세계 여성의 날을 기념하는 갈라에서 Moore Polska의 대표 파트너인 리디아 스쿠드와프스카가 '기업가 정신' 부문 상을 수상했습니다.
리디아의
The "Polish Woman of the 21st Century" initiative promotes women's roles through events and development programs, recognizing leaders in various fields like entrepreneurship and innovation. On March 8, 2024, during a gala celebrating International Women's Day, Lidia Skudławska, Managing Partner of Moore Polska, received an award in the "Entrepreneurship" category.
Moore Polska's success, particularly its rise to the 9th position among Polish auditing firms, is attributed to Lidia's leadership. Under her guidance, alongside Piotr Witek, the firm achieved the largest merger in the Polish auditing market in 2021, propelling it into the TOP10. This merger created an organization known for its supportive environment and strong business partnerships.
Beyond business, Lidia actively participates in the Polish Business Association and the PIB Women's Club, demonstrating her commitment to developing others. She balances her professional achievements with her personal life as a wife, mother, grandmother, and daughter. During her acceptance speech, Lidia expressed gratitude to her mother, family, business partner Piotr Witek, and the entire Moore Polska team for their support and contribution to their shared success. Her vision and ability to navigate challenges have solidified Moore Polska's position as an industry leader. Lidia and Piotr's collaborative leadership inspires their team to strive for excellence, proving that with determination and support, significant achievements are possible.
'21세기 폴란드 여성' 이니셔티브는 다양한 행사와 개발 프로그램을 통해 여성의 사회적 역할 증진을 목표로 하며, 기업가 정신과 혁신 등 여러 분야의 여성 리더를 선정하여 시상합니다. 2024년 3월 8일, 세계 여성의 날을 기념하는 갈라에서 Moore Polska의 대표 파트너인 리디아 스쿠드와프스카가 '기업가 정신' 부문 상을 수상했습니다.
리디아의 리더십은 Moore Polska를 폴란드 9위의 회계 감사 법인으로 성장시키는 등 회사의 성공에 결정적인 역할을 했습니다. 특히 그녀는 피오트르 비텍과 함께 2021년 폴란드 회계 감사 시장에서 가장 큰 규모의 합병을 성공적으로 이끌어 회사를 TOP10 반열에 올렸습니다. 이 합병을 통해 상호 지지적인 조직 문화와 강력한 비즈니스 파트너십을 갖춘 기업이 탄생했습니다.
리디아는 경영 활동 외에도 폴란드 비즈니스 협회 및 PIB 여성 클럽에서 활발히 활동하며 인재 양성에 대한 헌신을 보여주고 있습니다. 또한 아내, 어머니, 할머니, 그리고 딸로서 개인적인 삶과 직업적 성취의 균형을 이루고 있습니다. 수상 소감에서 그녀는 어머니와 가족, 비즈니스 파트너인 피오트르 비텍, 그리고 공동의 성공을 위해 헌신해준 Moore Polska 팀 전체에 감사를 표했습니다. 그녀의 비전과 위기 대처 능력은 Moore Polska를 업계 선두 주자로 자리매김하게 했습니다. 리디아와 피오트르의 협력적 리더십은 팀원들에게 탁월함을 추구하도록 영감을 주며, 굳은 의지와 지지가 있다면 위대한 성과를 이룰 수 있음을 증명하고 있습니다.
Moore Academy Poland: The Key to Professional and Personal Development
3/5/2024
In today's dynamic business world, continuous development of professional and personal competencies is not just an advantage, but a necessity. Moore Polska Academy, with 35 years of experience in acco
In today's dynamic business world, continuous development of professional and personal competencies is not just an advantage, but a necessity. Moore Polska Academy, with 35 years of experience in accounting, auditing, HR, payroll, and tax, legal, and business advisory services, offers comprehensive training, courses, and webinars catering to both professionals and those outside the finance sector.
Our academy shares expert knowledge and supports the development of soft skills crucial for financial specialists, fostering a deeper understanding of global finance and accounting. We provide a broad portfolio including "Colour Accounting" for non-financial professionals, corporate finance, financial analysis, accounting, controlling, Lean Finance/Accounting/Office, tax, and reporting, including ESG.
Our programs are designed to impart solid theoretical foundations and practical, immediately applicable skills, enhancing participant effectiveness. The academy's success stems from its experts and practitioners who possess deep theoretical knowledge and extensive professional experience, enabling them to teach in an accessible and practical manner. Passion for knowledge sharing and belief in the highest value of development set us apart.
Understanding unique participant needs, we offer both open and tailored closed training sessions. Our courses are available in-person at conveniently located venues across Poland and online, providing flexibility. Post-course support and consultations are also available, demonstrating our commitment to clients' long-term growth.
Moore Polska Academy adapts to participant needs with nationwide presence and online options. Our modern training rooms in Bielsko-Biała, Gdańsk, Poznań, and Warsaw ensure a comfortable learning experience. Online training via Zoom or ClickMeeting allows knowledge acquisition from any location, overcoming time and geographical constraints.
In essence, Moore Polska Academy is a development partner offering valuable knowledge, practical skills, and ongoing support. Our training, built on experience, passion, and personalized approach, is key to professional and personal growth. Join our satisfied participants and discover how we can support your development.
Moore Polska Academy, ESG, lean, development, training, webinars
In early January, the Ministry of Development and Technology announced a new "contribution holidays" solution from ZUS (Social Insurance Institution) for the smallest entrepreneurs. This initiative ai
In early January, the Ministry of Development and Technology announced a new "contribution holidays" solution from ZUS (Social Insurance Institution) for the smallest entrepreneurs. This initiative aims to allow eligible businesses to be exempt from social insurance, Labor Fund, and Solidarity Fund contributions for one calendar month each year. The exemption, however, will not cover health contributions.
A draft bill, released on January 23, 2024, outlines the eligibility criteria and timing for this relief. Contributions during the exemption period will be financed by the state budget, based on the insured person's lowest contribution base.
This ZUS contribution holiday is designed for micro-entrepreneurs: those running non-agricultural businesses, employing fewer than ten employees, and with an annual turnover not exceeding €2 million. Participants will retain their entitlement to sickness insurance and will not need to suspend their business operations to benefit.
Certain entrepreneurs are excluded. Those who conducted business in the current or previous year, providing services to a former employer where they worked in the year of business commencement or the preceding year, and performing activities within the scope of their current business for that employer, will not be eligible.
To utilize this benefit, eligible entrepreneurs must submit an electronic application to ZUS, ideally via a dedicated information profile. Applications can be submitted in the calendar month preceding the desired exemption month. ZUS has 40 days to process the request and must notify the entrepreneur electronically. Even with the exemption, businesses must still file settlement declarations and monthly individual reports for the covered period.
The new regulations are slated to take effect on October 1 of the current year, though the draft is currently undergoing public consultation. It is expected that further information will be released regarding the finalization of this date and the project's form.
Development and Innovation at Moore Polska: Discover New Horizons with Moore Polska Tax & Legal
2/29/2024
Moore Polska Tax & Legal Drożdż Rozwadowski spółka komandytowa is the latest venture within the Moore Polska Group. Our commitment to continuous improvement and adaptation to clients' evolving needs h
Moore Polska Tax & Legal Drożdż Rozwadowski spółka komandytowa is the latest venture within the Moore Polska Group. Our commitment to continuous improvement and adaptation to clients' evolving needs has led to the creation of this innovative company.
Responding to Business Challenges
Our dedication to development and offering comprehensive business solutions is reflected in the establishment of Moore Polska Tax & Legal. This company is our response to the growing demand for specialized tax and legal advisory services, aimed at supporting our clients in transforming market challenges into tangible successes.
Experts Leading Innovation
The partners of Moore Polska Tax & Legal include leading specialists from our group: Agnieszka Drożdż-Wilk (Director of the Tax and Legal Department at Moore Polska, Gdańsk office) and Tomasz Rozwadowski (Legal Team Manager at Moore Polska, Gdańsk office). Their extensive experience and broad knowledge in law, taxes, and business support form the foundation for the highest quality services we offer.
Mission and Vision of Moore Polska Tax & Legal
We strive for Moore Polska Tax & Legal to be synonymous with trust and reliability for our clients, offering personalized strategies that aid in the development and stabilization of the businesses we collaborate with. Our goal is to be even closer to our clients' needs and expectations, delivering tailor-made solutions for the 21st century. We firmly believe that the Moore Polska Tax & Legal initiative will enable us to better serve our clients' needs, providing unparalleled support and advice. This is a step towards a future filled with mutual success and innovation.
Do not wait – contact our specialists!
Moore Polska Tax & Legal Drożdż Rozwadowski spółka komandytowa represents the latest initiative from the Moore Polska Group, a response to the increasing need for specialized tax and legal advisory services. This new venture aims to empower clients by transforming market challenges into successes. Led by Agnieszka Drożdż-Wilk and Tomasz Rozwadowski, both experienced specialists within the Moore Polska Group, the company prioritizes offering high-quality, personalized strategies for business development and stabilization. Their mission is to be a trusted and reliable partner, delivering innovative, 21st-century solutions tailored to client needs. The establishment of Moore Polska Tax & Legal signifies a commitment to advancing client service and fostering future success through collaboration and expertise. The company encourages potential clients to reach out to their specialists for support.
False invoices issued by an employee and the ECJ ruling
2/28/2024
On January 30, 2024, the Court of Justice of the European Union ruled that an employee who used their employer's identification data to issue false invoices for fraud purposes may be liable to pay the
On January 30, 2024, the Court of Justice of the European Union ruled that an employee who used their employer's identification data to issue false invoices for fraud purposes may be liable to pay the VAT shown on these invoices.
The case involved a VAT-registered company whose employee, without its knowledge, issued invoices that did not reflect actual economic transactions. During an audit, unlawful VAT deductions based on these false invoices were discovered. Tax authorities sought payment of the VAT from the company, a stance initially supported by a regional administrative court. However, the Supreme Administrative Court, having doubts, referred the matter to the CJEU, questioning whether the taxpayer or the employee should be liable for the VAT on false invoices and if the company had failed in its duty of care towards its employee.
The CJEU clarified that if an employee issues a false invoice using the employer's identity without their knowledge or consent, the employee is considered the one showing VAT, unless the employer failed to exercise reasonable diligence in supervising the employee's actions. If the employer was aware of the fraud and did not intervene, they could be held liable. However, if the employee's criminal actions were unrelated to their job role, or if there were no prior indications of irregularities, the employer might not be held responsible for the VAT on the forged invoices. Businesses should implement robust security measures and transparent internal procedures to demonstrate due diligence.
Valuation of finished goods according to the Accounting Act and IAS 2
2/26/2024
The balance sheet valuation of finished goods, according to the Polish Accounting Act and IAS 2 (International Accounting Standard 2), refers to determining the value of these products on the balance
The balance sheet valuation of finished goods, according to the Polish Accounting Act and IAS 2 (International Accounting Standard 2), refers to determining the value of these products on the balance sheet date within a company's accounting records. Finished goods are defined as tangible assets produced or processed by an entity, intended for sale in the ordinary course of business, meaning they have completed all production phases.
Both Polish law and IAS 2 mandate that these assets are valued at the lower of their acquisition cost or production cost, or their net realizable value (NRV). NRV represents the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. This principle is rooted in the prudence concept, requiring companies to account for potential decreases in asset value.
IAS 2 provides detailed guidelines for inventory valuation to ensure comparability of financial statements. It allows for two primary valuation methods: cost and net realizable value. When market value falls below cost, NRV becomes crucial for accurately reflecting economic value. Companies must adjust their accounting records to reflect such decreases, either individually or by grouping similar inventory items. Proper year-end valuation is essential for accurate financial reporting, especially for entities with significant inventory levels, ensuring transparency for auditors and investors, and aiding management. Companies should consult accounting professionals to ensure compliance with all applicable regulations and standards, as local requirements may add further stipulations.
The Future of Accounting and Finance in the AI Era: Challenges and Opportunities
2/23/2024
The ACCA Think Ahead survey, involving 9,889 finance professionals across 157 countries (57% women, 39% men), reveals key global talent trends in accounting and finance for 2024. The study highlights
The ACCA Think Ahead survey, involving 9,889 finance professionals across 157 countries (57% women, 39% men), reveals key global talent trends in accounting and finance for 2024. The study highlights a dual sentiment towards Artificial Intelligence (AI), with significant excitement about its potential alongside persistent concerns about job displacement. The cost of living crisis is also a major challenge, pressuring employers to manage rising salary expectations and maintain competitiveness.
Hybrid working models present both benefits and challenges, with a noted divergence between employee expectations and workplace realities, necessitating flexible approaches. Diversity and inclusion (EDI) are recognized as crucial for organizational attractiveness, yet there's a call for broader definitions of diversity to foster creativity. Mental health remains a concern, indicating a need for better workload management and employee support to combat burnout. The accounting profession offers broad career opportunities, but talent retention is challenging due to significant professional mobility, requiring nuanced strategies to keep employees engaged. This comprehensive survey underscores the multifaceted challenges and opportunities facing the finance and accounting sector in the AI era.
ESG in Modern Business – Building a Sustainable Future
2/21/2024
In an era of growing ecological and social awareness, ESG (Environmental, Social, Governance) has become a pivotal concept for businesses pursuing sustainable success, evolving from a trend into a cor
In an era of growing ecological and social awareness, ESG (Environmental, Social, Governance) has become a pivotal concept for businesses pursuing sustainable success, evolving from a trend into a cornerstone of modern enterprises. ESG serves as a three-faceted evaluation model assessing a company's environmental protection efforts, social welfare contributions, and internal corporate governance standards.
The significance of ESG in contemporary business is profound. It is no longer a mere concept but an integral part of business strategies, leading to enhanced brand image, increased customer trust, and greater investor confidence. Consumers increasingly favor sustainable companies, and investors are factoring ESG criteria into their decision-making. Furthermore, effective ESG management yields tangible financial benefits, including reduced operational costs, minimized risks, and boosted innovation, contributing to long-term company growth.
Successful ESG implementation requires a cohesive strategy and the commitment of all employees, reflecting a fundamental business mindset. Key steps include developing a clear ESG policy with defined goals and metrics, integrating ESG into the overall business strategy, consistently monitoring progress, and publishing transparent reports. Employee education on ESG principles is also crucial for enhancing awareness and engagement. Building ESG awareness among employees and customers through training and engaging initiatives strengthens brand loyalty and trust.
Ultimately, ESG is not just a trend but a critical component of a sustainable business strategy, fostering better financial performance and lasting stakeholder relationships. While its implementation demands consistency and commitment, the benefits for both business and society are substantial, guiding companies toward a more sustainable, modern future.
The National e-Invoice System (KSeF) will not be implemented in 2024 due to critical errors identified, preventing the mandatory version from being rolled out. The Ministry of Finance has announced a
The National e-Invoice System (KSeF) will not be implemented in 2024 due to critical errors identified, preventing the mandatory version from being rolled out. The Ministry of Finance has announced a schedule for consultations on the legal and functional aspects of KSeF, commencing on February 16th and concluding on March 1st. These hybrid meetings will be divided into nine thematic groups, addressing crucial areas such as system security, consumer invoices, the KSeF identifier in payments, factoring, media suppliers, the fuel industry, local government units, phased KSeF implementation, and training and clarifications.
The Head of the National Fiscal Administration emphasizes considering the cost implications for businesses during these discussions. Registration for the consultations is available through the Ministry of Finance website, which also features an updated FAQ section addressing KSeF-related queries. The initiation of these consultations does not signify a restart of the system's development.
In the Polish legal system, corporate income tax reliefs are key legislative tools designed to positively shape business conditions. This article details various CIT reliefs available in Poland.
The
In the Polish legal system, corporate income tax reliefs are key legislative tools designed to positively shape business conditions. This article details various CIT reliefs available in Poland.
The **IP BOX** relief offers a preferential 5% tax rate on income derived from legally protected intellectual property rights created, developed, or improved through R&D activities. It can be combined with other reliefs such as robotization, R&D, prototype, and expansion reliefs. Eligibility requires conducting R&D, generating income from qualifying IP, and possessing IP that has been developed or improved. Qualifying IP includes patents, utility model rights, and software copyrights.
The **R&D relief** supports creative activities, including systematic scientific research or development work aimed at creating new applications. It allows for the recovery of up to 38% of R&D expenses and can be used concurrently with other reliefs. Qualifying activities involve developing software, optimizing production processes, or creating new technologies.
**IPO reliefs** are for joint-stock companies entering the market. An issuer relief allows for deducting advisory and legal costs related to share issuance, capped at 50% of costs or PLN 50,000. For individual investors, purchasing shares during an IPO and holding them for at least three years exempts them from capital gains tax on sale profits.
The **Expansion relief** permits a double deduction of expenses incurred to expand sales markets. To qualify, businesses must meet specific revenue targets within two consecutive tax years, such as introducing new products or increasing sales in foreign markets.
Relief for supporting **sport, culture, and education** allows non-agricultural businesses to deduct 50% of expenses incurred on these activities, up to the level of income generated from their business operations, provided these costs haven't been reimbursed or previously deducted.
The **Robotization relief** allows an additional 50% deduction of expenses on robotization, effectively allowing 150% cost recognition (100% as an expense and 50% as a relief). Eligible costs include acquiring new industrial robots and related peripheral equipment.
The **Consolidation relief** is for Polish companies acquiring other entities, allowing an additional deduction for expenses directly related to acquiring shares in a capital company.
The **Prototype relief** permits an additional 30% deduction of expenses related to trial production and market introduction of new products, and can be combined with other reliefs.
The **Innovative Employees relief** targets businesses incurring losses or low profits, allowing them to deduct qualifying R&D expenses from advance tax payments on employee salaries.
The **Payment Terminal relief** is for businesses acquiring payment terminals. It offers a deduction of up to PLN 2,500 for entities exempt from sales registration for specific individuals and farmers, and PLN 1,000 for others, covering terminal acquisition and transaction service costs.
Speed Networking organized by Social Swift is an innovative networking concept designed to connect you with 30-40 new, influential entrepreneurs in just 2.5 hours. This unique event, structured like s
Speed Networking organized by Social Swift is an innovative networking concept designed to connect you with 30-40 new, influential entrepreneurs in just 2.5 hours. This unique event, structured like speed dating for business, ensures every participant meets every other guest, offering an unparalleled opportunity to expand your professional network.
Participating in Social Swift networking offers distinct advantages. It eliminates the need to actively chase potential business partners with business cards, as the event's format handles it for you. You can avoid stepping out of your comfort zone to approach strangers, and there's no risk of missing anyone, as you're guaranteed to speak with everyone present. The atmosphere is also kept relaxed and informal, with events held in restaurants and pubs.
These business speed dating events are crucial for building long-term, mutually beneficial relationships in today's fast-paced world. They facilitate the establishment, maintenance, and growth of connections with fellow entrepreneurs, specialists, and business partners, opening doors to valuable industry contacts and potential collaborations. Exchanging knowledge and experiences enhances a company's competitiveness and adaptability, and networking is a prime source of new clients. Furthermore, participating improves communication skills and provides insights into the latest trends. The networking community offers invaluable support and advice during challenging times, making the investment in building your business network a key driver of success.
To join, visit https://socialswift.pl/, select your desired location, and register via the form on the website. Upcoming events include Krakow on February 6th, Wroclaw on February 7th, Gdansk on February 13th, Olsztyn on February 15th, Warsaw on February 22nd, and Bydgoszcz on February 28th.
7 sins of small and medium-sized businesses in finance
중소기업 재무의 7대 죄악
1/30/2024
Misunderstanding and ineffective financial management can lead to serious problems for businesses. This article outlines seven common financial "sins" of small and medium-sized entrepreneurs and provi
Misunderstanding and ineffective financial management can lead to serious problems for businesses. This article outlines seven common financial "sins" of small and medium-sized entrepreneurs and provides actionable advice on how to avoid them.
The first sin is the **lack of clearly defined key performance indicators (KPIs) and regular verification**. Many entrepreneurs fail to establish financial metrics and budgets, leading to disorientation and loss of control. Regularly monitoring revenue, margins, results, inventory value, and working capital, along with budgeting, is crucial for better control and alignment with financial goals.
The second is **insufficient working capital management**. Neglecting receivables and inventory can cause payment bottlenecks and freeze capital. Implementing debt collection processes and systematically managing inventory turnover and customer payment terms are vital for financial liquidity.
The third sin is **ineffective management of purchases and liabilities**. Poor negotiation with suppliers, lack of multiple offers, and inefficient control over financial obligations result in excessive costs and payment difficulties. Negotiating better payment terms and exploring various offers can improve the company's financial standing.
The fourth is the **absence of periodic cash flow analysis**. Many entrepreneurs overlook cash flow, leading to a lack of control over available funds. Regular cash flow analysis allows for informed management, quick reaction to liquidity issues, and accurate financial planning by estimating inflows and outflows.
The fifth is **lacking a financial cushion**. Without a financial reserve, companies are vulnerable to sudden expenses or revenue drops. Securing financing like an overdraft or leasing, even during prosperous times, acts as an insurance policy against future financial difficulties.
The sixth sin is **mismatched financing to business needs**. Incorrectly understanding financing types can lead to over-indebtedness or misallocation of funds. Aligning funding sources with specific company needs, such as using long-term debt for fixed assets, is essential for optimizing financial structure.
Finally, the seventh sin is **managing based on tax minimization**. Focusing solely on reducing taxes like VAT, CIT, and PIT, rather than creating enterprise value, leads to short-sighted financial management and can ultimately diminish the company's valuation. A long-term perspective, considering tax implications, and consulting with financial and tax advisors are recommended.
Avoiding these financial pitfalls requires awareness, planning, the use of appropriate financial tools, and expert consultation.
New MF Decisions Regarding KSeF – How Will They Affect Entrepreneurs?
1/25/2024
The Polish Ministry of Finance has announced a delay in the mandatory implementation of the National e-Invoicing System (KSeF). Initially slated for July 1, 2024, for all businesses and January 1, 202
The Polish Ministry of Finance has announced a delay in the mandatory implementation of the National e-Invoicing System (KSeF). Initially slated for July 1, 2024, for all businesses and January 1, 2025, for VAT-exempt small and medium-sized enterprises, the new deadline will be announced after an audit of the system’s development. The Ministry acknowledged critical errors in KSeF’s IT infrastructure and code, which could have impacted its performance. To address these issues, a technological audit has been commissioned. Furthermore, the Ministry plans to hold consultations with entrepreneurs to ensure the system's successful implementation with their input. Despite the postponement, the Ministry emphasizes that KSeF will eventually become mandatory, and development work will continue. Businesses that have not yet prepared for KSeF can now take a brief respite but must remain ready for future integration and compliance with the new requirements. The delay provides companies an opportunity to prepare for the system’s eventual rollout, ensuring smooth operations and reliable invoice processing.
Transfer Pricing – Procedure and Practical Aspects of Transfer Pricing Information (TPR) Submission
1/25/2024
Intercompany transactions are crucial in today's business environment, and fulfilling transfer pricing obligations is becoming increasingly common for taxpayers, especially given the dynamic legal lan
Intercompany transactions are crucial in today's business environment, and fulfilling transfer pricing obligations is becoming increasingly common for taxpayers, especially given the dynamic legal landscape. Understanding the processes and practices of transfer pricing documentation (TPR) is key to efficient time management. This article provides guidance on TPR submission for current and previous tax years, including the concept of active repentance.
For tax years prior to 2022, TPR forms (versions 3 and 4) were interactive PDFs that lacked the mandatory statement on preparing transfer pricing documentation. Thus, a separate statement had to be submitted electronically to the relevant tax office, signed by the entity's head (as defined by accounting law) or by all authorized representatives if multiple individuals met the criteria or the head was unclear. Submission by proxy was not permitted for this statement. The TPR-C form (versions 3 and 4) was submitted electronically to the Head of the National Revenue Administration (KAS) and could be signed and filed by a proxy. The submission process for these older versions involved downloading a 32-bit Adobe Reader, opening the form, and using the "sign and send" function.
For the 2022 tax year onwards, the TPR-C form (version 5) is in XML format and includes the statement on preparing documentation. The submission authority has also changed from KAS to the local tax office. This version must be signed by the entity's head or a designated member of a multi-person governing body, with exceptions for proxies who are legal or tax professionals. The submission process involves filling or importing an XML file via a designated website, accepting and sending it, signing with tax data or a qualified signature, and uploading the signed document in XML or XAdES format.
Taxpayers can use active repentance if they fail to submit the TPR Information on time. This involves notifying the appropriate tax office about the violation, which can be done electronically with a qualified electronic signature, trusted profile, or personal signature, or in paper form.
In essence, submitting TPR and utilizing active repentance are largely electronic processes, simplifying tax compliance. However, taxpayers must be aware of the specific forms and rules applicable to each tax year to avoid transfer pricing issues.
Moore Polska's specialists are available for consultations on transfer pricing, active repentance, tax, and legal matters.
Impact of Transport Downtime on VAT – Analysis and Risks
1/18/2024
In today's global economy, international goods transport is crucial for many businesses. However, disruptions or delays in transport can impact VAT taxation. This article examines the issue of VAT on
In today's global economy, international goods transport is crucial for many businesses. However, disruptions or delays in transport can impact VAT taxation. This article examines the issue of VAT on transport delays, analyzing different viewpoints and associated risks.
**Taxation of Delays:** If a transport delay stems from a carriage contract with loading and unloading clauses, the demurrage fee increases the VAT taxable base. Such additional fees are considered part of the international transport service and are taxed at the rate applicable to that service, as confirmed by tax authorities and courts.
**Compensation vs. Fee:** If demurrage costs are considered compensation and not a service provision, they are not subject to VAT. In such cases, a debit note is the appropriate document, not affecting VAT liability.
**Risks and Case Law:** Tax authorities and administrative courts have varying stances on transport delays. For goods export, proof of departure from Poland and maintained product characteristics is required. Transport interruptions or warehousing can lead to the loss of preferential VAT rates.
**Conclusion:** If a business transports goods by sea to a non-EU contractor and stops at an EU port for additional loading, export can be demonstrated if the original goods remain unchanged and were not unloaded, with the stop solely for adding other cargo. However, due to differing official opinions, meticulous documentation of the transaction is necessary to avoid adverse tax consequences. Businesses must be aware of the tax risks associated with transport delays and thoroughly analyze transport processes to ensure correct VAT accounting.
For further questions on transport taxation, contact our specialists.
To improve a company's financial situation, debt, such as loans or supplier obligations, can be converted into equity. This is common when a company owes money to related entities, particularly a pare
To improve a company's financial situation, debt, such as loans or supplier obligations, can be converted into equity. This is common when a company owes money to related entities, particularly a parent company, and cannot afford to repay. This conversion acts as support for the struggling subsidiary. Less frequently, debt is converted when the creditor is not a shareholder. In this scenario, the creditor becomes a shareholder in exchange for extinguishing the debt, anticipating future profits. This shifts the company's financing from debt to equity, improving financial indicators and reducing leverage.
Two primary methods exist for converting debt into share capital for an LLC: either as a non-cash contribution (in-kind) where the debt is transferred to the company via assignment, leading to its extinction through confusion, or by increasing capital with a cash contribution followed by a set-off of mutual receivables. Accounting involves reclassifying the debt from loan accounts to shareholder contribution accounts, which are then settled against the increased share capital. Direct conversion of debt into reserve capital is not possible; it requires a share capital increase, with any excess debt value over the share value contributing to the reserve capital as share premium.
Entrepreneurs required to prepare a remanent (inventory valuation) create both an opening and closing remanent. The opening remanent does not affect the health co
**Remanent and Health Contribution**
Entrepreneurs required to prepare a remanent (inventory valuation) create both an opening and closing remanent. The opening remanent does not affect the health contribution, but the difference between the opening and closing remanent, known as the "remanent difference," does.
**Impact of Remanent Difference on Health Contribution**
The remanent difference can either increase or decrease income. If the closing remanent value is higher than the opening remanent value, income increases by this difference, thereby increasing the basis for the health contribution. Conversely, if the opening remanent value is greater than the closing remanent value, income decreases by the remanent difference, leading to a reduction in the health contribution basis.
**Health Contribution for 2023**
Changes introduced by the "Polish Deal" legislation from 2022 onwards meant that remanent differences impacted health contribution calculations. Previously, only negative remanent differences influenced the health contribution. However, this legal framework changed at the end of 2022. From 2023, both positive and negative remanent differences are considered when calculating the health contribution basis. Therefore, the annual health contribution settlement for 2023, filed on the ZUS DRA form for April 2024, will incorporate these remanent differences regardless of whether they are positive or negative.
For further questions regarding inventory valuation or health contributions, please contact our experts.
In 2023, the number of audit firms auditing the financial statements of listed companies in Poland significantly decreased to 37, down from 46 in the previo
Transformations in the Polish Audit Market
In 2023, the number of audit firms auditing the financial statements of listed companies in Poland significantly decreased to 37, down from 46 in the previous year and 48 in 2021. This decline is attributed to market consolidation driven by legislative changes and increased regulatory demands concerning both personnel and technology. Many smaller audit firms withdrew, creating opportunities for new and mid-sized players.
Moore Polska emerged as a leader among auditing firms for listed companies, auditing 17 financial statements of GPW-listed companies in 2023. This achievement, coupled with its rise to 9th place in the "Rzeczpospolita" ranking of auditors, highlights the firm's advancement, professionalism, and process optimization in the audit sector.
The traditional "Big Four" auditors (Deloitte, EY, KPMG, and PwC) have seen a slight decrease in their dominance as they increasingly shift their services to areas other than auditing listed companies. This has opened doors for mid-sized firms like Moore Polska and Grant Thornton to become leaders in auditing financial statements of public companies.
"The supervision system for auditors of public interest entities has significantly tightened over the last four years, with the Polish Audit Oversight Authority actively inspecting and overseeing firms auditing listed companies," commented Piotr Witek, Managing Partner at Moore Polska. He added that regulatory, staffing, organizational, and technological requirements have substantially increased, leading to a situation where the "Big 4" no longer dominate due to their focus on more profitable services for listed companies, which often excludes them from auditing financial statements.
Moore Polska's leadership position is a result of its adaptability to changing market conditions, adherence to evolving regulatory requirements, and commitment to service quality, as well as client trust earned through professionalism and reliability. The firm's success is a testament to its ability to build lasting, empathetic client relationships, demonstrating that mid-sized, Polish-capitalized firms can thrive in the dynamic Polish audit market.
Moore Polska's leadership, management, and everyone familiar with the company recognizes that its strength lies in its employees. The company acknowledges that its staff is exceptional and expresses i
Moore Polska's leadership, management, and everyone familiar with the company recognizes that its strength lies in its employees. The company acknowledges that its staff is exceptional and expresses immense gratitude for their hard work, dedication to challenging professional tasks, and continuous self-improvement over the past twelve months. Without them, Moore Polska would not have achieved its current level of development.
The #MoorePolskaTeam is at the heart of their success. The firm boasts remarkable leadership at all levels, with engagement, skills, and passion from managers to every team member driving Moore Polska forward. This collective effort propelled the company to 9th place in the "Rzeczpospolita" newspaper's auditor rankings. Moore Polska fosters a workplace where employees are encouraged to grow, communicate, and share both professional and personal thoughts. The team comprises not just colleagues but friends who rely on each other for support during difficult times.
With a history spanning over thirty years, Moore Polska leverages its knowledge, experience, and innovation to grow. The team's daily efforts and commitment are crucial in achieving ambitious goals and strategies, making #MoorePolskaTeam both the heart and engine of their success. Personal and professional development are priorities, creating a unique culture characterized by professionalism, team well-being, and an individualized approach. The company stands out not only for tackling complex professional challenges and optimizing processes but also for cultivating a community where everyone feels valued and appreciated.
The hard work and dedication of all Moore Polska teams translate into impressive financial results. However, the company emphasizes that people, relationships, and passion are what truly matter, guided by values of empathy, dialogue, and understanding. These are not mere platitudes but the actual operational principles. This ethos and its people make Moore Polska more than just a company; it is a team achieving success together.
The company expresses heartfelt thanks to each individual for their ongoing support, sacrifice, and commitment, expressing pride in working with such exceptional people and recognizing their contribution to the company's growth and success. Together, they are building the future of Moore Polska.
The definition of a workstation has been significantly updated. A workstation is now defined as a work area including basic equipment like a monitor, keyboard, mouse, software, chair, and desk, along
The definition of a workstation has been significantly updated. A workstation is now defined as a work area including basic equipment like a monitor, keyboard, mouse, software, chair, and desk, along with optional accessories such as a disk drive, printer, scanner, document holder, and footrest.
New regulations also address safety and health for laptop users. If an employee uses a laptop for at least half of their workday, employers must provide an external keyboard and mouse, and either a separate monitor or a stand to position the laptop screen at eye level.
The regulations now also include the refunding of contact lenses. Previously, employers were obliged to provide prescription glasses if an employee's vision test indicated a need for them while working with a screen. Under the revised rules, employees can now receive financial assistance for purchasing either glasses or contact lenses. The subsidy amount is determined by employers in their internal policies.
Employers have a six-month period to adapt existing workstations to the new occupational safety and health requirements for computer work, with a deadline of May 17, 2024. These requirements focus on ergonomic setup to prevent musculoskeletal and visual strain, including adjustable monitors, detached keyboards and mice, matte surfaces, appropriate desk space, and adjustable chairs. They also cover document holders, adequate legroom, proper lighting, footrests, and accessible workstation placement.
The Accounting Act primarily addresses entities continuing their business operations. When continuity is absent, companies must adhere to provisions for entities in liquidation, of which there are few
The Accounting Act primarily addresses entities continuing their business operations. When continuity is absent, companies must adhere to provisions for entities in liquidation, of which there are few in the act.
The liquidator assumes the duties of the entity's management. Accounting books should be closed on the day preceding liquidation or bankruptcy and reopened within 15 days of the event.
A liquidation financial statement must: * State the absence of continued operations. * Include the date of the company's entry into liquidation. * Value all assets at their net realizable sales prices, not exceeding acquisition or production costs, adjusted for depreciation and impairment losses. This may result in prices lower than market value due to liquidation circumstances. * Conduct an inventory count. * Include a reserve for anticipated additional costs and losses arising from ceasing or losing the ability to continue operations. These costs, as per National Accounting Standard No. 14, include legal and notarial fees, appraisal costs, liquidator’s remuneration, severance pay, contract termination penalties, and archiving costs.
The difference from asset revaluation and reserve creation is shown in the revaluation capital. Determining net realizable sales prices and necessary reserves can be challenging, requiring expert valuation and careful estimation.
Article 36 mandates that all components of equity in entities undergoing liquidation or bankruptcy be merged into a single basic capital, reduced by own shares or unpaid capital contributions.
Companies in liquidation do not prepare statements of changes in equity or cash flow statements, nor are they subject to annual audits. The liquidation process can extend beyond a year, requiring ongoing accounting and financial reporting to the National Court Register.
New regulations concerning health and safety for employees working with display screen equipment came into effect on November 17, 2023, published in the Journal of Laws. Previously, employers were onl
New regulations concerning health and safety for employees working with display screen equipment came into effect on November 17, 2023, published in the Journal of Laws. Previously, employers were only obligated to reimburse corrective spectacles. The updated law now mandates employers to also refund contact lenses.
This provision applies when an occupational health physician, following an eye examination, recommends contact lenses instead of glasses for monitor work due to a vision defect that cannot be corrected with spectacles. The physician will determine whether contact lenses or corrective glasses are appropriate for the employee.
Any employee spending at least half of their working hours in front of a computer is eligible for this reimbursement. This includes part-time employees whose daily work schedule is at least six hours, with three of those hours spent working on a computer.
For further inquiries regarding contact lens subsidies or payroll and HR administration, please contact the provided email address. Our experts are ready to assist.
Entities keeping accounting records under the Accounting Act (hereinafter: UoR) are obliged to have accounting principles (policy). According to art. 3 sec. 1 point 11 UoR, accounting policy is define
Entities keeping accounting records under the Accounting Act (hereinafter: UoR) are obliged to have accounting principles (policy). According to art. 3 sec. 1 point 11 UoR, accounting policy is defined as solutions chosen and applied by the entity, permitted by the act, including those specified in IAS, ensuring the required quality of financial statements.
The Accounting Act states that this documentation should be in written form, in Polish, and contain information regarding: the definition of the financial year and reporting periods; methods of valuing assets and liabilities and determining financial results; how to keep accounting books, including at least: a chart of accounts, classification principles, subsidiary ledger principles and their connection to the general ledger, a list of accounting books, and for computerised accounting, data file details; a description of the data processing system, including software, algorithms, and data protection principles; and a system for protecting data and accounting documents.
According to art. 4 sec. 1 UoR, entities must apply adopted accounting principles (policy), presenting their financial situation and results fairly and clearly. These principles should be adapted to the company's specifics, size, and information needs. The entity's management is responsible for preparing and maintaining current accounting policies. Changes to the accounting policy are introduced by a resolution and can be effective from the beginning of the financial year in which the resolution was passed or the following year, ensuring continuity. The going concern assumption is applied unless it contradicts factual or legal circumstances.
The effects of changes in accounting policy are detailed in National Accounting Standard No. 7. Changes are permissible under specific circumstances: gaining or losing simplified accounting rights, entity decisions due to changes in business activity or industry, or adopting/resigning from IFRS. When policies change, entities must disclose the reasons and their quantitative impact on financial results or equity, including retrospective adjustments to comparative data.
polityka rachunkowości, zasady rachunkowości, zmiana polityki rachunkowości, zmiana zasad rachunkowości
polityka rachunkowości,accounting principles,change in accounting policy,change in accounting principles
In a company merger procedure, several crucial issues require attention to ensure an efficient process culminating in court registration of the merger. Initial determinations are extremely important,
In a company merger procedure, several crucial issues require attention to ensure an efficient process culminating in court registration of the merger. Initial determinations are extremely important, such as whether the legal acquiring entity will also fulfill this role economically. If not, it's considered a reverse acquisition. This directly impacts how net assets are valued, books are closed, and the transaction is recorded in accounting.
Key differences exist between accounting for merger transactions using the acquisition method under domestic and international accounting standards.
This document outlines the key differences in accounting for merger transactions via the acquisition method according to domestic and international accounting standards. We encourage you to contact us at both the transaction planning stage and during the review of the merger plan.
Should you have further questions regarding accounting for company mergers using the acquisition method under Polish accounting law and International Financial Reporting Standards (IFRS), please do not hesitate to contact us. Moore Polska experts are at your disposal!
Keywords: International Financial Reporting Standards, IFRS, acquisition, merger, settlement.
Contact us. krzysztof.oczko@moorepolska.pl
A company merger necessitates careful attention to several critical legal and economic aspects to ensure a smooth and officially registered process. A key initial consideration is whether the legal acquirer will also be the economic acquirer; a divergence signifies a reverse acquisition, impacting net asset valuation, book closing, and accounting treatment. The method of accounting for such transactions, specifically the acquisition method, differs significantly between domestic (Polish) and international accounting standards. Understanding these differences is vital for proper financial reporting. Experts at Moore Polska are available to provide guidance on both transaction planning and merger plan reviews, specifically addressing queries related to the acquisition method under Polish law and IFRS.
On December 30, 2022, the Director of the National Tax Information issued an Individual Interpretation (ref. 0114-KDIP2-2.4010.116.2022.2.RK), stating that a civil law partnership (spółka cywilna) is
On December 30, 2022, the Director of the National Tax Information issued an Individual Interpretation (ref. 0114-KDIP2-2.4010.116.2022.2.RK), stating that a civil law partnership (spółka cywilna) is not obligated to prepare transfer pricing documentation or submit a transfer pricing information form (TPR-C) for transactions with its partners. This obligation does not extend to the partners or a designated partner of the civil law partnership.
The Corporate Income Tax Act (ustawa o CIT) requires related entities to prepare local transfer pricing documentation electronically by the end of the tenth month after the tax year ends, to demonstrate that transfer prices were set at arm's length. The Act defines an "entity" broadly, including individuals, legal entities, organizational units without legal personality, and foreign establishments. However, the interpretation clarifies that a civil law partnership does not fit the definition of an "organizational unit without legal personality" as contemplated by the Act for transfer pricing purposes. The tax authority reasoned that the partners, not the civil law partnership itself, are the parties to such transactions, and the partnership lacks separate legal personality under the Corporate Income Tax Act. Therefore, a civil law partnership is not considered an "entity" for transfer pricing documentation requirements when dealing with its partners.
A generation is a group of people born within a specific timeframe, usually spanning several years or decades. They are characterized by a shared historical, cultural, and social context that shapes t
A generation is a group of people born within a specific timeframe, usually spanning several years or decades. They are characterized by a shared historical, cultural, and social context that shapes their values, beliefs, and approach to life. Understanding generational differences in work approach is crucial for effective personnel management and recruitment.
Baby Boomers value stability and long tenure, preferring established hierarchies and clear career paths. They are motivated by professional achievement and may favor traditional communication methods.
Generation X is more independent and skeptical of hierarchies, valuing remote work and flexibility. They seek work-life balance and are open to change and workplace diversity. They appreciate personal contact and clear advancement paths.
Millennials are tech-savvy, seeking continuous professional development, feedback, and meaningful work. They prioritize work-life balance and flexible work options, and are influenced by a company's values and mission.
Generation Z, raised in the digital age, expects fast-paced work, concise communication, and easy access to information. They value diversity, inclusion, and purpose, with flexibility and technology integration being standard.
Effective strategies for managing diverse generations include tailoring recruitment processes to highlight stability for Boomers and innovation/remote work for Millennials and Gen Z. Creating mixed-age teams fosters creativity and problem-solving. Offering diverse professional development programs and adapting communication and feedback styles to generational preferences are also key. Embracing flexibility and work-life balance options, particularly for younger generations, is essential. Successfully managing a multi-generational workforce leads to a more adaptable and motivated team, with knowledge transfer between older and younger employees driving continuous growth and success.
Provisions for Untaken Leave - Why Auditors Recommend Creating Them?
未消化有給休暇引当金:なぜ監査人は計上を推奨するのか
11/8/2023
Accrued expenses for unused holidays are distinct from provisions under accounting law. Accrued expenses relate to costs that will definitely occur, whereas provisions cover uncertain liabilities in t
Accrued expenses for unused holidays are distinct from provisions under accounting law. Accrued expenses relate to costs that will definitely occur, whereas provisions cover uncertain liabilities in terms of amount or due date. Consequently, their accounting treatment should be separate.
The text clarifies that this pertains to compensation for holiday time not paid due to unused leave, not the equivalent for unused vacation days themselves. When employment continues into a new year, unused leave from the previous year must be granted by September 30th of the following year. Holiday leave is typically taken in kind, necessitating the payment of holiday wages. This means employers must grant and pay for both earned and overdue leave, including holiday pay for the latter. Therefore, payments for unused holidays are certain and arise from fulfilling legal obligations.
Accrued expenses for unused holiday pay are recognized to allocate costs to the period the employee worked, not when they were on leave. This aligns with accounting standards like IAS 19, which mandate recognizing expected benefits from employee work as liabilities and expenses. Specifically, for cumulative paid absences like holiday leave, the cost should be recognized when the employee performs work that increases their entitlement. This ensures that the cost of unused holidays is matched with the period of work performed, reflecting the company's financial performance more accurately, rather than the period of absence. This approach impacts financial reporting by smoothing out salary costs and matching expenses to the periods in which the benefits were earned.
The obligation to prepare Transfer Pricing (TP) documentation falls upon entities that, under Article 11k of the Corporate Income Tax Act (CIT), are required to do so due to meeting statutory criteria
The obligation to prepare Transfer Pricing (TP) documentation falls upon entities that, under Article 11k of the Corporate Income Tax Act (CIT), are required to do so due to meeting statutory criteria. TP documentation includes the local file, an analysis of market conditions for the transaction under examination (known as a benchmark), and the submission of transfer pricing information on the TPR-C form.
The latest version of the TPR-C form for 2022, variant 5, was published by the Ministry of Finance in mid-October, with availability for submission via the e-Deklaracje gateway announced two weeks later, from October 13, 2023. This new version, released on the e-Deklaracje platform on October 31, 2023, consists of six parts (A-F) covering the submission period and purpose, entity identification, general financial information, transaction data, additional information, and a declaration. The updated TPR-C form allows for XML file import and export, a preview of the completed document, and subsequent submission.
Entities are encouraged to familiarize themselves with the changes in the latest TPR form.
The independence of an auditor is paramount for reliable financial assessments. As a public trust, auditors play a crucial role in accounting and financial control systems. They must inspire societal
The independence of an auditor is paramount for reliable financial assessments. As a public trust, auditors play a crucial role in accounting and financial control systems. They must inspire societal confidence that they will always act honestly and impartially, free from any pressure. This integrity ensures fair and trustworthy evaluations of company financial statements and underpins public trust in accounting. Key traits for auditors include objectivity, professionalism, and prioritizing the public interest. They must adhere to ethical codes and continuously enhance their knowledge to provide top-tier services. The profession relies on strong client-auditor trust, professional secrecy, a good public reputation, and due diligence.
Auditor independence refers to the ability to perform duties objectively, without external influences that could compromise judgment. Auditors must avoid conflicts of interest, remuneration pressures, or any factor affecting their independent opinions, and cannot perform other financial services like bookkeeping for the audited entity. This independence is vital for financial statement credibility, enabling auditors to assess procedures and documentation without fear of management or stakeholder pressure. It is the foundation of trust in financial reports. Independence is categorized into independence of mind (mental objectivity, professional skepticism, and honesty) and independence of appearance (avoiding situations where a reasonable third party would perceive a compromise in integrity, objectivity, or skepticism). Auditors maintain independence through strict adherence to ethical codes and professional standards, employing internal quality control systems to identify, assess, and mitigate threats to independence. Audit firms and team members must declare their compliance with independence requirements under penalty of law.
In essence, auditor independence is critical for the reliability of financial statement opinions. Auditors must uphold stringent standards and ethical principles to provide independent and credible opinions, which is fundamental for fair financial markets and the economy.
Audit – what to remember when choosing an auditor?
10/18/2023
The term "audit" originates from the Latin "auditor," meaning listener. Historically, audits involved publicly reading and verifying accounts. The institution of auditing developed significantly in th
The term "audit" originates from the Latin "auditor," meaning listener. Historically, audits involved publicly reading and verifying accounts. The institution of auditing developed significantly in the 19th century, initially as an external function. In the 20th century, organizations began employing internal auditors to ensure compliance and check control mechanisms. Today, audits are conducted by independent experts, focusing on improving organizations rather than solely identifying irregularities. An audit is a planned process designed for improvement, not just a control measure.
When selecting an auditor, consider their experience, industry knowledge, and the expertise of their team, which should include a certified auditor capable of providing an independent opinion. Key criteria for choosing an auditor include specialization in your industry, access to supporting experts (tax, finance, IT, etc.), relevant qualifications and experience, adaptability to your organization's specifics, and high service standards (timeliness, quality, communication). Price should not be the primary factor, as low fees can sometimes indicate lower quality.
Finding the "ideal" auditor is achievable with the right partner. Moore Polska positions itself as a specialized team understanding unique business needs and offering personalized service. They leverage interdisciplinary and international expertise from the Moore Global network, combined with deep knowledge of the Polish business landscape and regulations. With over 30 years of experience, Moore Polska utilizes advanced tools and embraces innovation to enhance audit efficiency and effectiveness, always prioritizing client-focused dialogue and transparency. Their commitment to high service standards is reflected in their TOP 10 ranking among Polish audit firms, ensuring accuracy, reliability, and regulatory compliance. Moore Polska helps identify risks and areas for improvement, providing practical recommendations. They emphasize a collaborative approach to support sustainable business development.
A linguistic note: "Audit" is the English form of "audyt." Despite not conforming to Polish borrowing rules and not being in normative dictionaries, it has become industry jargon due to an unfortunate translation of ISO standards. The Polish Language Council has acknowledged this usage. Ultimately, regardless of the term used, the quality and reliability of the audit are paramount.
Corporate wellbeing, also known as employee wellbeing or organizational health, refers to the overall state of the workplace. It's a broad, multidimensional concept encompassing various aspects of emp
Corporate wellbeing, also known as employee wellbeing or organizational health, refers to the overall state of the workplace. It's a broad, multidimensional concept encompassing various aspects of employees' professional and personal lives that affect their mental, emotional, and physical state.
Key components of corporate wellbeing extend beyond mental and physical health to include opportunities for professional development and maintaining work-life balance. Crucially, it involves fostering a positive organizational culture built on understanding, trust, safety, and empathy. Without this foundation, even material benefits like gym memberships or cinema tickets fail to improve employee engagement. How a company treats its employees, the values it promotes, and the norms it upholds are paramount. A culture of trust, respect, and collaboration significantly enhances employee wellbeing.
Beyond culture, corporate wellbeing also encompasses physical health (diet, exercise, sleep, avoiding harmful habits), mental health (supportive environments, access to psychological help, stress management training), work-life balance (flexible hours, remote work, relaxation time), professional development (training, advancement opportunities), sustainable workloads (avoiding excessive stress and pressure), and social support (fostering relationships and a sense of belonging).
Prioritizing employee wellbeing is vital for organizations, as healthy and content employees are more productive, loyal, and engaged. This has led many companies to invest in wellness programs and initiatives aimed at improving employee health and happiness. The text concludes by inviting readers to experience the empathetic culture of Moore Polska, highlighting its focus on dialogue, empathy, and continuous professional and personal development.
The Polish tax system introduced a "thin capitalization" tax at the beginning of 2022 as part of the Polish Deal initiative. This tax is a response to OECD Model Convention recommendations aimed at co
The Polish tax system introduced a "thin capitalization" tax at the beginning of 2022 as part of the Polish Deal initiative. This tax is a response to OECD Model Convention recommendations aimed at combating base erosion and profit shifting. It targets companies that artificially reduce their tax base by utilizing tax regulations.
The tax primarily affects Polish corporate income taxpayers (CIT) with seats in Poland, and Polish companies accounting for costs of non-corporate entities. It also applies to foreign entities with a permanent establishment in Poland for internal transactions. Tax capital groups are also subject to this tax. However, costs incurred for related entities that are taxed on their worldwide income in an EU/EEA member state and conduct genuine economic activity there are exempt.
"Subsidized income" is defined as costs incurred for non-resident related entities, classified as passive costs (e.g., financing, intangibles, royalties, advertising), that are recognized as deductible expenses. These costs must exceed 3% of the company's total deductible expenses, and the foreign related entity's effective tax rate must be below 14.25%. Amortization and depreciation of fixed assets and intangible assets are included. Certain costs, like those for copyright transfers or industrial property rights, are excluded.
The tax base is the sum of subsidized income for the tax year, separate from other income. The tax payable can be reduced by withholding tax on relevant payments, up to the amount of the subsidized income tax due.
This tax is a tool to combat tax avoidance, particularly through aggressive tax planning involving passive payments that erode the tax base, aligning with BEPS project recommendations. Companies should review expenses paid to related parties to assess potential tax liabilities.
19%, CIT, KFD, OECD, optimization, tax, subsidized income
Most Common UOKIK Allegations – How to Avoid Them?
9/20/2023
In recent months, the Office of Competition and Consumer Protection (UOKiK) has been highly active, increasing its scrutiny of businesses in the Polish market. This intensified oversight, particularly
In recent months, the Office of Competition and Consumer Protection (UOKiK) has been highly active, increasing its scrutiny of businesses in the Polish market. This intensified oversight, particularly since January 1, 2023, stems from significant legislative changes concerning consumer rights, price information, and unfair market practices. Key areas of focus include transparent communication about price reductions, updates on electronic platforms, complaint procedures, and contract termination rights.
Recent high-profile cases illustrate UOKiK's enforcement actions. Zalando, Sephora, Glovo, and Media Markt faced accusations of misleading consumers regarding price reductions by failing to clearly display the lowest price within the preceding 30 days, a mandatory requirement. Online platforms like Booking, Zalando, and Travelist were also charged with violating consumer collective interests by not properly informing users about whether offers came from businesses or individuals, as mandated by the Omnibus Directive implementation. Additionally, Carrefour Polska and Auchan Polska were investigated for potentially abusing contractual advantages by charging suppliers for transport costs, shifting their own operational expenses.
To avoid UOKiK sanctions, businesses must adhere to updated regulations, ensuring clear communication on price reductions and the origin of offers on online platforms. They should also avoid practices that could be construed as an unfair use of contractual advantages, such as unfairly burdening suppliers with costs. Adherence to these principles is crucial for maintaining compliance and avoiding penalties, which can amount to a significant percentage of annual turnover.
The primary goal of any business is profit, making its measurement crucial for both external analysts and internal management. Profitability can be assessed by relat
Profitability Analysis – Criteria
The primary goal of any business is profit, making its measurement crucial for both external analysts and internal management. Profitability can be assessed by relating a company's income to its sales volume, asset base, or book/market equity. Key indicators used for this evaluation include: ROE, ROA, Operating Profit Margin, and Net Profit Margin.
ROE (Return on Equity) measures how much profit a company generates from its shareholders' equity. A higher ROE indicates better financial health and more efficient use of equity capital, leading to potential for greater financial surplus and higher shareholder dividends. It is a key metric for investors and management to gauge profit generation effectiveness from available capital resources and impacts long-term stability and growth.
ROA (Return on Assets) assesses a company's ability to generate profits and efficiently utilize its assets. It is calculated as net profit divided by total assets, or as the product of sales margin and asset turnover. A higher ROA signifies a stronger financial position, meaning the company earns more profit relative to its assets. This is particularly important for lenders evaluating a company's debt repayment capacity based on asset performance.
Operating Profit Margin relates operating profit (EBIT) to sales revenue, indicating how much operating profit is generated per unit of sales. A higher margin signifies greater operational efficiency.
Net Profit Margin (ROS - Return on Sales) measures the percentage of net profit remaining from sales revenue after all costs, including taxes, are deducted. A higher net profit margin indicates a better financial condition, meaning more profit is retained. A declining ROS may necessitate increased sales to achieve the same profit level, highlighting its importance in assessing operational efficiency and profit-generating ability from sales.
These profitability measures, alongside financial, debt, and turnover analyses, help assess current performance and predict future trends but do not provide definitive actions. When interpreting these indicators, consider the company's characteristics and operating environment. Compare current data with previous financial periods and with competitors to establish relative efficiency.
Are you ready to learn about financial audit objectives?
9/12/2023
The primary objective of financial review is to enhance the reliability of information presented in financial statements. This aims to reduce the risk of investors or creditors making poor decisions d
The primary objective of financial review is to enhance the reliability of information presented in financial statements. This aims to reduce the risk of investors or creditors making poor decisions due to inaccurate or unclear data. An independent expert, a certified auditor, provides an opinion on the credibility of this information, protecting stakeholders and ensuring economic transaction security. A fundamental concept in financial reporting is fair presentation, meaning financial statements should accurately reflect a company's financial position. Statements verified by an impartial auditor inspire greater confidence.
Financial review is crucial for economic stability and protecting investors, creditors, and employees. It confirms that the audited financial statements provide a true and fair view of the entity's financial standing and performance, adhere to accounting laws and policies, comply with legal regulations and company agreements, and are based on properly maintained accounting records.
The audit should also provide sufficient evidence to conclude that the entity's going concern is not threatened for the next twelve months. Certified auditors provide their services based on contracts, but the true recipients are those making economic decisions based on their work. Public trust in auditors is fundamental to financial review. Auditing financial statements is an attestation service exclusively reserved for certified auditors.
Moore Polska offers assistance from experienced, professional certified auditors.
Improving management efficiency requires focusing on the effective utilization of assets. Asset turnover can be analyzed through various cross-sections by calcu
Improving management efficiency requires focusing on the effective utilization of assets. Asset turnover can be analyzed through various cross-sections by calculating: Total Asset Turnover, Accounts Receivable Turnover, and Inventory Turnover.
**Total Asset Turnover** measures how many times a company's sales exceed its assets. This ratio is industry-dependent, being lower in capital-intensive industries and higher where human labor is paramount. It is most useful for intra-industry comparisons. A higher turnover indicates more efficient asset utilization, potentially due to shorter production cycles or higher sales profitability. An increasing value is generally a positive sign of better resource management.
**Accounts Receivable Turnover** assesses the efficiency of debt collection. An optimal range is typically between 7 and 10. A ratio below 7 suggests overly generous credit terms for customers, while a ratio above 10 may indicate a too-stringent collection policy that could alienize customers.
**Inventory Turnover** measures how effectively a company manages its inventory of goods or raw materials, indicating how many times inventory is replenished annually. A typical healthy range is between 7 and 10. Values below 7 suggest slow sales and potential excess storage costs or aging inventory. Values above 10 might mean the company cannot meet product demand, leading to order fulfillment issues.
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Improving management efficiency hinges on the effective utilization of assets, which can be assessed through turnover analysis. Three key metrics are Total Asset Turnover, Accounts Receivable Turnover, and Inventory Turnover.
Total Asset Turnover quantifies how many times sales surpass a company's total assets, varying by industry. Higher turnover signals efficient asset use, often linked to shorter production cycles or robust sales profitability. It's best used for comparing similar companies.
Accounts Receivable Turnover evaluates debt collection effectiveness. An optimal range is 7-10; below this suggests extended credit terms, while above it indicates a potentially off-puttingly strict collection policy.
Inventory Turnover measures inventory management efficiency, showing how often stock is replenished. A healthy range is 7-10. Lower values may indicate slow sales and storage issues, whereas higher values could signify an inability to meet customer demand.
Debt ratios characterize the degree to which an entity is financed by external sources, particularly in relation to the equity capital employed. The most commonly distinguished ratios in this area inc
Debt ratios characterize the degree to which an entity is financed by external sources, particularly in relation to the equity capital employed. The most commonly distinguished ratios in this area include: General Debt, Debt-to-Equity Ratio, Long-Term Debt Ratio, and Fixed Assets Debt Ratio.
The General Debt Ratio (debt ratio, DR) expresses the proportion of foreign capital (liabilities) to a company's assets, indicating the overall financing structure and the degree of indebtedness. A value exceeding 0.67 suggests excessive credit risk, while a low ratio signifies greater financial independence. However, the optimal financing structure depends on factors like capital cost and return rates.
The Debt-to-Equity Ratio assesses the relationship between foreign and equity capital. It is generally accepted that this ratio should not exceed 1.0 for large and medium-sized enterprises and 3.0 for small ones, indicating acceptable debt levels relative to equity based on company size. A lower ratio suggests greater financial autonomy, while a higher one may signal increased financial risk.
The Long-Term Debt Ratio measures how well long-term liabilities are covered by equity. A value exceeding 1.0 indicates a highly indebted company.
The Fixed Assets Debt Ratio (solvency ratio) assesses the extent to which long-term liabilities are secured by fixed assets, evaluating a company's ability to repay long-term obligations based on its tangible assets. A higher ratio indicates better security for long-term debt.
The minimum income tax, also known as the corporate tax, was introduced on January 1, 2022, as part of Poland's "New Deal" reforms, regulated by Article 24ca of the Corporate Income Tax Act (CIT). It
The minimum income tax, also known as the corporate tax, was introduced on January 1, 2022, as part of Poland's "New Deal" reforms, regulated by Article 24ca of the Corporate Income Tax Act (CIT). It applies to taxpayers headquartered or managed in Poland, capital groups, and those operating through a foreign establishment in Poland. The new provision is set to take effect from January 1, 2024, with an exemption until the end of the current tax year for entities whose tax year differs from the calendar year and began before January 1, 2024.
The minimum CIT rate is 10% of the tax base. It targets corporate income taxpayers who derive no more than 2% of their income from sources other than capital gains, or who incurred a loss from non-capital gain sources. This effectively means the tax applies to entities experiencing a tax loss. Certain income and costs, particularly those related to specific transactions, fixed asset acquisitions, or improvements under regulated pricing, are excluded from loss calculations. Additionally, excise duty, retail sales tax, gaming tax, fuel surcharge, and emission fee are not considered costs.
Exemptions from the minimum CIT include businesses starting operations in a given year, financial institutions, and companies solely owned by natural persons. Also exempt are entities whose revenue decreased by at least 30% compared to the previous tax year, and businesses whose majority of revenue comes from operating ships or aircraft in international transport.
The tax base is generally calculated as 1.5% of revenue from non-capital gain sources, plus certain financing costs exceeding the statutory limit. An optional simplified calculation allows for a 3% tax base based on non-capital gain revenue, which must be declared. Taxpayers must file their declarations and pay the tax by the end of the third month following the tax year's end.
The distinction between current and prospective creditworthiness is essential for adapting financial assessments to diverse practical scenarios. Banks need to ascertain not only a company's credit cap
기업의 신용도를 평가할 때는 현재의 상환 능력과 미래의 상환 능력을 구분하는 것이 중요합니다. 은행은 대출 신청 시점의 상환 능력뿐만 아니라, 대출 기간 전체에 걸쳐 상환 능력을 유지할 수 있을지를 함께 파악해야 합니다. 이를 위해 현재 재무 자료를 분석하여 '현재 상환 능력'을 평가하고, 상환 만기일까지의 미래 상환 능력을 예측하여 '장래 상환 능력'을
The distinction between current and prospective creditworthiness is essential for adapting financial assessments to diverse practical scenarios. Banks need to ascertain not only a company's credit capacity at the time of a loan application but also its ability to maintain it throughout the loan's duration. This involves evaluating current financial data (current creditworthiness) and projecting future capacity until the repayment deadline (prospective creditworthiness).
A bank's assessment of current creditworthiness extends beyond loan approval. Loan agreements typically require borrowers to submit periodic business information and grant banks the right to inspect aspects related to loan repayment security. Current creditworthiness assessment is crucial for short-term working capital loans used to cover immediate obligations. This analysis involves monitoring bank account activity but primarily relies on financial statements, particularly the balance sheet and income statement, which provide fundamental financial reporting data. The analysis period can vary, encompassing both annual and multi-year comparisons.
Key analytical methods include comparative analysis of annual and multi-year data, data structure analysis, ratio analysis, analysis of specific issues, cash flow analysis, financial position analysis, and break-even analysis. Comparative analysis tracks changes in balance sheet and income statement items, both in absolute and relative terms. Data structure analysis assesses the proportion of assets, liabilities, and income statement items relative to total assets and sales value. Ratio analysis, widely used, involves calculating and comparing financial ratios over time and across similar companies.
In practice, financial analysis using various ratios aims to evaluate a company's financial position, including liquidity, creditworthiness, efficiency, and profitability. This evaluation involves comparing current and projected ratios to historical performance, industry benchmarks, and planned targets. Key ratio categories include liquidity, debt, efficiency, and profitability ratios. Liquidity analysis focuses on a company's ability to meet its financial obligations on time. It includes current ratio (ideally 1.3-2, with 2 considered optimal), quick ratio (ideally 1.0, excluding inventory, or 0.7 for high-turnover businesses), and cash ratio (ideally 0.2, though less critical as cash should be minimized to maximize revenue-generating assets).
Banks assess creditworthiness using a combination of methods to understand a company's financial health both now and in the future, ensuring the repayment of loans. This involves rigorous analysis of financial statements, key ratios, and comparative data to gauge a company's ability to manage its obligations.
기업의 신용도를 평가할 때는 현재의 상환 능력과 미래의 상환 능력을 구분하는 것이 중요합니다. 은행은 대출 신청 시점의 상환 능력뿐만 아니라, 대출 기간 전체에 걸쳐 상환 능력을 유지할 수 있을지를 함께 파악해야 합니다. 이를 위해 현재 재무 자료를 분석하여 '현재 상환 능력'을 평가하고, 상환 만기일까지의 미래 상환 능력을 예측하여 '장래 상환 능력'을 평가합니다.
현재 상환 능력 평가는 대출 승인에만 국한되지 않습니다. 대출 약정에는 보통 차입 기업이 정기적으로 사업 정보를 제출하도록 하는 의무와, 은행이 대출 상환과 관련된 담보 등을 점검할 권리가 포함됩니다. 특히 단기적인 채무를 해결하기 위한 운전자금 대출에서는 현재 상환 능력 평가가 매우 중요합니다. 이 평가는 주로 기업의 재무상태표와 손익계산서 같은 핵심 재무제표에 의존하며, 은행 계좌 활동 내역도 참고 자료로 활용됩니다. 분석 기간은 연간 비교는 물론, 여러 해에 걸친 다년간 비교를 포함할 수 있습니다.
주요 분석 방법으로는 연간 및 다년간 데이터를 비교하는 '비교 분석', 총자산이나 매출액 대비 자산, 부채, 비용 등의 비중을 보는 '구조 분석', 그리고 널리 사용되는 '비율 분석'이 있습니다. 그 외에도 특정 이슈 분석, 현금흐름 분석, 재무상태 분석, 손익분기점 분석 등 다양한 기법이 활용됩니다.
실무에서 다양한 비율을 활용한 재무 분석은 기업의 유동성, 채무상환능력, 효율성, 수익성 등 재무 상태를 종합적으로 평가하는 것을 목표로 합니다. 이 과정에서 현재 및 예상 비율을 과거 실적, 동종 업계 평균, 사업 계획 목표 등과 비교합니다. 주요 비율은 유동성, 부채, 효율성, 수익성 비율로 나뉩니다. 예를 들어, 유동성 분석은 기업이 단기 채무를 제때 이행할 수 있는지를 평가하며, 여기에는 유동비율(이상적 수치 1.3~2, 최적 2), 당좌비율(재고자산 제외, 이상적 수치 1.0, 재고 회전이 빠른 경우 0.7), 현금비율(이상적 수치 0.2) 등이 포함됩니다.
이처럼 은행은 대출금 상환을 보장하기 위해 기업의 현재와 미래 재무 건전성을 종합적으로 파악하는 복합적인 평가 방법을 사용합니다. 이를 위해 재무제표, 핵심 재무 비율, 비교 데이터 등을 면밀히 분석하여 기업이 채무를 안정적으로 관리할 수 있는지를 평가하는 것입니다.
Empathy, defined as the ability to understand and share the feelings of another, is crucial for effective communication and fosters open, honest interactions in business. This leads to better outcomes
Empathy, defined as the ability to understand and share the feelings of another, is crucial for effective communication and fosters open, honest interactions in business. This leads to better outcomes, fewer misunderstandings, and smoother teamwork. In the workplace, empathy is vital for resolving conflicts stemming from differing opinions, personalities, and work styles. By enabling individuals to see things from another's perspective, it facilitates finding common ground and building stronger relationships.
Empathetic leaders and colleagues create a supportive work culture, increasing employee well-being and job satisfaction. This, in turn, boosts productivity and reduces employee turnover, as individuals from diverse backgrounds feel recognized and valued. Ultimately, empathy builds trust, which is the foundation of all relationships. When employees feel cared for, they are more likely to trust, respect, and integrate with the company, fostering loyalty.
Empathy also enhances emotional intelligence, allowing individuals to manage emotions and respond effectively to others' behaviors and feelings, leading to better leadership and team interactions. Empathetic leaders provide tailored support, increasing employee engagement. Empathetic employees better meet customer needs, leading to positive company perceptions and loyalty. Furthermore, empathy fuels creativity and innovation by leveraging diverse perspectives. In essence, empathy drives organizational success by improving morale, teamwork, problem-solving, and creating a positive culture that attracts and retains talent.
Empathy cultivates a harmonious and productive work environment, improving internal communication and cooperation for business success. It enhances employee well-being and satisfaction, building strong relationships essential in business.
The MDR (Mandatory Disclosure Rules) procedure, also known as the internal procedure for counteracting the failure to report tax schemes, is a mandatory document required by Polish tax law. It obligat
The MDR (Mandatory Disclosure Rules) procedure, also known as the internal procedure for counteracting the failure to report tax schemes, is a mandatory document required by Polish tax law. It obligates entities, particularly legal persons and organizational units without legal personality, to implement this internal procedure. The threshold for this obligation, based on revenue or costs exceeding 8 million PLN in the preceding year, has not been updated by the legislator, meaning smaller businesses that initially fell below this threshold may now be subject to it due to economic growth and professionalization.
The complexity of Polish law, increased cross-border transactions, and the engagement of external advisors further expand the number of entities needing to comply. Failure to implement the MDR procedure can result in significant fines, up to 2 million PLN for non-compliance and up to 10 million PLN if a tax offense is confirmed by a court.
A well-prepared MDR procedure serves as a crucial tool for businesses, clarifying tax reporting obligations, defining key terms with practical examples, identifying high-risk areas within the organization, and establishing clear processes for identifying, reporting, and processing reportable tax schemes. This proactive approach reduces the risk of non-compliance, enhances organizational awareness, and improves efficiency. Moreover, possessing an MDR procedure demonstrates a commitment to responsible tax management, aligning with growing expectations for corporate social responsibility and transparency. The increasing volume of MDR reports filed signifies a growing awareness of these obligations among taxpayers. Moore Polska's Tax and Legal Department offers support in developing these internal procedures.
On July 1, 2023, Poland lifted the state of epidemic threat, which had been in effect since March 2020. This revocation, as per a May 2023 regulation, reinstated previously suspended tax obligations,
On July 1, 2023, Poland lifted the state of epidemic threat, which had been in effect since March 2020. This revocation, as per a May 2023 regulation, reinstated previously suspended tax obligations, including those concerning MDR reporting.
The obligation to report tax schemes was suspended until 30 days after the lifting of the epidemic threat. This meant that until the end of July, the deadlines for reporting domestic tax schemes to the Head of the National Revenue Administration were suspended. For the MDR-1 form, which applies to facilitators, promoters, and beneficiaries, the deadline was 30 days from the day after the scheme was made available, the first action related to its implementation, or its preparation, whichever occurred first. This placed the maximum deadline for submitting MDR-1 on August 30, 2023.
The reporting deadline for MDR-3 is more complex. Unlike MDR-1, its deadline is tied to the filing of tax returns and is not affected by the 30-day suspension period outlined in the Tax Ordinance. Beneficiaries who undertook actions within a tax scheme or received tax benefits from one in 2023 are required to submit MDR-3 with their relevant tax declaration. The Ministry of Finance indicated that MDR-3 reporting for 2020, 2021, and 2022, periods during which reporting was suspended, should be completed by August 1, 2023. This date also marks the start and end of the reporting period for MDR-3 if the original deadline fell in 2021. Despite the suspension of deadlines for non-cross-border schemes, information and notifications regarding these schemes could still be submitted between March 31, 2020, and July 31, 2023, making August 1, 2023, the final deadline for MDR-3.
Subsidies for gas and electricity prices 2023 – audit already in the first step
8/1/2023
The Polish government planned to launch a "Aid for energy-intensive industries related to natural gas and electricity prices in 2023" program by June 30th, with a budget of PLN 5 billion, an increase
The Polish government planned to launch a "Aid for energy-intensive industries related to natural gas and electricity prices in 2023" program by June 30th, with a budget of PLN 5 billion, an increase from the previous edition. However, legislative work is not yet complete, with the ministry only outlining the core solutions. A pre-consultation draft from May detailed a new requirement: an opinion from an independent statutory auditor on the applicant's report containing key data must be submitted with the application, unlike the previous edition where it was required during the settlement phase.
This shift presents significant challenges. Applicants must now provide a report detailing their assumptions, evidence, and calculations for energy costs, along with the auditor's attestation service report, adhering to specific national and international standards. The tight deadlines are a major concern. The first application period covers up to June 30, 2023, with applications due 45 days later, by August 15th. Obtaining the necessary auditor's report within this timeframe may prove difficult for many. Given the uncertainty surrounding the final program requirements, early preparation of data and documentation is crucial. Moore Polska, with its prior experience, offers support with data audits for applications.
Keywords: 2023, audit, Gas and electricity subsidies, Opinion, Application
Citizens of Ukraine, the mObywatel App, and Foreigners
7/27/2023
The Polish Act of April 14, 2023, has significantly amended the provisions concerning the legal stay of Ukrainian citizens in Poland under the Special Act of March 12, 2022. Initially set to expire 18
The Polish Act of April 14, 2023, has significantly amended the provisions concerning the legal stay of Ukrainian citizens in Poland under the Special Act of March 12, 2022. Initially set to expire 18 months from February 24, 2022, which would have been August 24, 2023, the legal stay for Ukrainian citizens has now been extended until March 4, 2024. This extension also applies to Ukrainian citizens holding a Polish Card who arrived in Poland due to the conflict and intend to stay.
Further extensions are available: until August 31, 2024, for those pursuing education in Poland or within the Ukrainian system using distance learning, or those who started vocational, post-secondary, or adult education in the 2022/2023 academic year. September 30, 2024, is the deadline for individuals taking supplementary matriculation exams. These extended deadlines also cover parents and guardians of minors covered by these educational provisions.
A new provision ensures that applying for permanent residency, EU long-term residency, or temporary stay permits does not revoke the special legal status granted under the Special Act, guaranteeing legal stay until March 4, 2024, for those awaiting decisions.
The mObywatel mobile application was launched on July 14, 2023, enabling Ukrainian citizens to access an electronic document containing their PESEL number, personal data, travel document details, and UKR status. This application facilitates verification of document integrity and origin, access to online services, and confirmation of participation in services.
With the lifting of the epidemic threat status on July 1, 2023, employers hiring non-Ukrainians must verify their residency and employment documents. Provisions of the COVID-19 Special Act regarding the extension of permits and applications have reverted to standard procedures. This means new residency or work permit applications should have been submitted by July 31, 2023.
A significant amendment to the Special Act (Article 2 ust. 5a) states that applying for certain permits does not cause the loss of the legal status under Article 2 ust. 1. This ensures that Ukrainian citizens who have applied for permanent residency, EU long-term residency, or temporary stay permits, and have not yet received a final decision, maintain legal residence until March 4, 2024.
The mObywatel app, launched on July 14, 2023, allows Ukrainian citizens to obtain an electronic document containing their PESEL, personal data, travel document information, and UKR status, facilitating verification and access to services. This also integrates with employment support platforms.
Following the repeal of the epidemic threat status on July 1, 2023, regulations related to COVID-19 are being adjusted. Previously extended permits and applications now revert to standard timelines. Employers must verify the residency and employment documents of non-Ukrainian citizens. Those requiring new residency or work permits should have applied by July 31, 2023.
The Polish Civil Law Transactions Tax (PCC), introduced in 2000, applies to transactions such as sales, exchanges of property or rights, loans, and company agreements. While similar in scope to VAT, P
The Polish Civil Law Transactions Tax (PCC), introduced in 2000, applies to transactions such as sales, exchanges of property or rights, loans, and company agreements. While similar in scope to VAT, PCC primarily targets non-professional transactions, unlike VAT. Amendments to the PCC law are underway, introducing significant changes.
The first key change is the abolition of PCC for the purchase of a first apartment or house on the secondary market. This exemption applies to individuals who have not previously owned real estate, with a minor exception for inheriting up to half of a property. This facilitates first-time homeownership but will reduce local government revenue.
The second change mandates a 6% PCC payment, in addition to VAT, for wholesale purchases of six or more apartments in a single investment, provided the sale is subject to VAT. This means buyers will pay double tax on the sixth and subsequent properties within the same development, unless those properties are part of a larger estate under a single land registry entry. This measure aims to curb speculative property acquisitions. The amendment was signed in July 2023, with the first-home exemption effective 30 days after publication, likely late August. The 6% PCC rate for wholesale purchases will take effect from January 1, 2024.
The Poland.Business Harbour program offers citizens of Armenia, Belarus, Georgia, Moldova, Russia, and Ukraine an accelerated and preferential visa pathway. This unique PBH visa allows IT specialists
The Poland.Business Harbour program offers citizens of Armenia, Belarus, Georgia, Moldova, Russia, and Ukraine an accelerated and preferential visa pathway. This unique PBH visa allows IT specialists to apply with their families, work without a prior work permit, and establish businesses under the same conditions as Polish citizens. The program also facilitates interaction with local governments and Special Economic Zones, which provide temporary office and living spaces, business connections with investors, and R&D grants.
To apply for the simplified visa, applicants need a national visa application, a biometric photo, a passport valid for at least three months beyond the planned return and issued within the last 10 years, and medical insurance covering the visa's validity with a minimum of 30,000 Euros. IT specialists must provide proof of technical education or at least one year of IT experience, along with evidence of interest from a partner company. Startup founders need qualification for the Poland Prize program, and existing business owners require qualification through the Polish Investment and Trade Agency. Visa processing typically takes 2-5 weeks. Upon arrival, PBH visa holders can work and establish businesses in Poland without additional permits, with employment processes mirroring those for Polish citizens. Visa extensions are handled through residence permit applications in Poland, avoiding the need to leave the EU. Applicants are reminded that the program is free, excluding medical insurance costs, and includes a competency interview.
Tax overpayment refund – investors win against the tax authorities
7/20/2023
A taxpayer is entitled to interest for the entire period during which unduly collected tax is held. On June 8, 2023, the Court of Justice of the European Union (CJEU) ruled in case C-322/22 that a tax
A taxpayer is entitled to interest for the entire period during which unduly collected tax is held. On June 8, 2023, the Court of Justice of the European Union (CJEU) ruled in case C-322/22 that a taxpayer who has paid undue tax is entitled to interest for the entire period the tax authorities held the amount. This ruling primarily concerns situations where the obligation to pay a specific tax has been previously challenged by the CJEU.
The case stemmed from a U.S. investment fund's request to Polish tax authorities for a refund of taxes on dividends from Polish companies, based on a previous CJEU ruling from June 10, 2014, case C-190/12, which stated that such dividends are exempt from income tax. Despite this ruling, Polish law hasn't been updated to reflect it. The CJEU in C-322/22 found that Article 78 § 5 points 1 and 2 of the Polish Tax Ordinance Act are inconsistent with EU law. These provisions limit interest on tax overpayments resulting from CJEU rulings, granting it only from the date of overpayment to 30 days after the CJEU's judgment publication, or not at all if the refund request is filed after that date.
The CJEU reasoned that anyone burdened with tax due to a breach of EU law is entitled to a full refund of the tax amount and all applicable interest. The amount of interest should not depend on when the refund request is filed, as taxpayers may not be aware of CJEU rulings at the same time. This ruling is crucial for taxpayers, enabling them to claim refunds and interest for the entire period their tax payments were held, without necessarily waiting for Polish law to be amended.
Interim financial reporting consists of financial reports containing either a complete set of financial statements (in accordance with IAS 1) or condensed financial statements (in accordance with IAS
Interim financial reporting consists of financial reports containing either a complete set of financial statements (in accordance with IAS 1) or condensed financial statements (in accordance with IAS 34) for an interim period. An interim period is a reporting period shorter than a full financial year.
Interim financial reporting is mandatory for entities whose securities are publicly traded, specifically issuers listed on the Warsaw Stock Exchange.
The legal basis for preparing quarterly and semi-annual reports is the Regulation of the Minister of Finance of March 29, 2018, regarding current and periodic information submitted by securities issuers and the conditions for recognizing information required by the laws of a non-member state as equivalent.
The purpose of this documentation is to provide reliable and timely interim financial reports that facilitate the assessment by interested parties (investors, creditors) of an entity's ability to generate revenue and cash flows, as well as its financial position and liquidity. For additional support, contact Moore Polska experts.
Interim financial reporting encompasses financial reports, either complete or condensed, as defined by IAS 1 and IAS 34 respectively, covering periods shorter than a full financial year. It is mandatory for publicly traded entities on the Warsaw Stock Exchange. Governed by the Regulation of the Minister of Finance of March 29, 2018, it mandates the creation of quarterly and semi-annual reports, providing guidelines for issuers of securities. The primary objective of this reporting is to ensure that stakeholders, including investors and creditors, can accurately and promptly evaluate a company's capacity for generating income and cash flow, along with its overall financial health and liquidity. Moore Polska offers expert assistance in navigating these reporting requirements.
Though it seems simple, the saying "He who asks doesn't stray" holds great wisdom, suggesting we can avoid mistakes by learning from others' experience. Asking questions stimulates creativity and is t
Though it seems simple, the saying "He who asks doesn't stray" holds great wisdom, suggesting we can avoid mistakes by learning from others' experience. Asking questions stimulates creativity and is the first step toward finding answers. Asking the right questions is key to communication.
It's sometimes difficult to ask questions, because it's not just about asking, but asking *good* questions. Many ask questions incorrectly, resulting in poor answers. Before asking, consider what you hope to gain. Be inquisitive and specific to open up dialogue. Google is a great example: the more specific your search terms, the better the results. Asking questions, as Socrates noted, is a way to reach the truth. Don't assume you know best; ask questions to broaden your horizons.
Before you ask a question, define your goal. What do you hope to achieve? Ensure the question is relevant to the context, situation, and person you're asking. Choose the right person based on their expertise. Be specific in your question to get a clear, comprehensive answer, focusing on the core issue without unnecessary jargon. Listen carefully to the answer, even if it challenges your assumptions. Be open to different perspectives and maintain eye contact, sharing your doubts and asking follow-up questions. Regardless of the other person's attitude, remain calm and respectful. Good manners open doors. Asking the right questions in the right way is a trait of good leaders. Questions are powerful tools for development, stimulating thought and building self-awareness, often leading to valuable, lasting relationships.
Tax planning is crucial for optimizing tax burdens, and in VAT law, creating a VAT group can be a helpful tool. This allows multiple entities to be treated as a single taxpayer, a concept introduced b
Tax planning is crucial for optimizing tax burdens, and in VAT law, creating a VAT group can be a helpful tool. This allows multiple entities to be treated as a single taxpayer, a concept introduced by the implementation of Directive 112. The aim was to standardize regulations across EU member states to prevent market distortions.
To form a VAT group, members must have economic, financial, and organizational links and be based in the country. Financial ties mean one member holds at least 50% of shares or voting rights in the others. Economic ties exist if their main activities are similar, complementary, or if one member's activities heavily benefit the others. Organizational ties involve common management or coordinated operations.
Once a VAT group is established, internal transactions become tax-neutral, requiring no invoicing or reporting. Dealings with external entities are treated as transactions of the VAT group. While each member fulfills VAT obligations through the group, a designated representative handles tax settlements. If members previously used a pre-VAT coefficient to determine deductible VAT on mixed-use purchases, the group should continue using the individual members' pre-coefficients from the year the group was formed.
VAT groups offer benefits such as simplifying tax administration and facilitating effective tax planning by treating the members as a single taxpayer.
Definition of a structure and the Constitutional Tribunal's ruling
7/7/2023
According to Article 1a, paragraph 1, point 2 of the Law on Local Taxes and Fees, a "budowla" (structure) is a construction object as defined by construction law, excluding buildings or minor architec
According to Article 1a, paragraph 1, point 2 of the Law on Local Taxes and Fees, a "budowla" (structure) is a construction object as defined by construction law, excluding buildings or minor architectural objects, and includes construction equipment related to the object, enabling its use according to its intended purpose.
On July 4, 2023, the Constitutional Tribunal ruled that this definition is unconstitutional and will lose its validity within 18 months of the ruling's publication. The case arose from a dispute concerning the taxation of silos, with a company arguing they should be classified as buildings based on their characteristics, leading to a lower tax assessment based on usable area rather than initial value (used for "budowla"). The Tribunal agreed that defining tax objects by referencing other laws violates the constitutional principle that tax elements should be defined solely within tax laws. The Tribunal emphasized that taxpayers should be able to determine their tax obligations based solely on tax laws without needing to refer to other legislation. The ruling necessitates a new definition of "budowla" in the Law on Local Taxes and Fees and potential changes to the legal definition of "building", both without referencing non-tax laws, within 18 months. Until the amendments, the current definition remains valid.
The state of epidemic threat, introduced in Poland in March 2020 and later replaced by a state of epidemic, is being lifted on July 1, 2023, bringing significant tax and administrative changes.
Repor
The state of epidemic threat, introduced in Poland in March 2020 and later replaced by a state of epidemic, is being lifted on July 1, 2023, bringing significant tax and administrative changes.
Reporting of domestic tax schemes (MDR), which was suspended, will become obligatory again. The deadline suspension lasts until the end of July 2023, after which taxpayers identifying tax schemes must report them. The deadline for notifying payments to accounts not on the "white list" is shortened back to 7 days from 14 days, effective July 1.
The standard 3-month deadline for issuing individual tax interpretations, which protect taxpayers from incorrect legal interpretations, is also reinstated. Regarding residency certificates, those from 2019, with a taxpayer's statement confirming no changes, are valid until September 2023, after which current certificates will be required, valid for the term indicated or 12 months from issuance if no term is specified.
The lifting of the epidemic threat repeals COVID-related provisions that extended tax and administrative deadlines, reverting to standard timeframes. Non-compliance with tax obligations may result in sanctions.
Tax Capital Groups (TCG) are gaining popularity among CIT taxpayers due to the simplified conditions for their establishment introduced in 2021. One major advantage is the ability to file a consolidat
Tax Capital Groups (TCG) are gaining popularity among CIT taxpayers due to the simplified conditions for their establishment introduced in 2021. One major advantage is the ability to file a consolidated income tax return. However, TCG status applies solely within the scope of the CIT Act, meaning constituent companies retain tax autonomy under other tax laws.
To form a TCG, several conditions must be met. Participating companies must be capital-related entities in the form of a joint-stock company, limited liability company, or simple joint-stock company. The minimum share capital for each company has been reduced to PLN 250,000. A dominant company must be designated, responsible for calculating, collecting, and paying CIT, and holding at least 75% of the share capital in subsidiary companies. Furthermore, the companies must not have outstanding tax payments to the state budget.
A written agreement for at least three tax years is obligatory, filed with the tax office 45 days before the TCG's tax year begins. The agreement must include a list of companies, their share capital, shareholder information, the agreement's duration, and the group's tax year.
TCGs simplify CIT settlement through consolidated income calculation. Income is the surplus of total income over total losses from the same revenue source across all group companies. Losses can be carried forward. Intra-group transactions are generally exempt from transfer pricing documentation, but market prices must still be applied. Transactions with related parties outside the group are subject to standard transfer pricing documentation requirements. VAT is handled independently by each company within the TCG, though VAT Groups offer similar tax planning advantages in the VAT context. Forming a TCG offers legal tax optimization benefits by consolidating income tax settlements and potentially reducing documentation burdens.
A VAT payer can be a large company or a sole proprietor. However, holding VAT payer status doesn't automatically define whether the entity is an active VAT payer (obliged to remit tax) or a passive on
A VAT payer can be a large company or a sole proprietor. However, holding VAT payer status doesn't automatically define whether the entity is an active VAT payer (obliged to remit tax) or a passive one (exempt). VAT, or Value Added Tax, is a public levy remitted to the State Treasury. In Poland, whether an entity is subject to VAT depends on whether they are eligible for VAT exemptions under the law.
There are two main types of VAT exemptions: subject-matter exemptions, based on the type of service or item being taxed, and personal exemptions, related to the entity conducting the business that would normally be taxed. Subject-matter exemptions exclude specific services and items from VAT, as listed in Article 43(1) of the VAT Act. Personal exemptions, according to Article 113(1) of the VAT Act, are available to entrepreneurs whose taxable sales did not exceed 200,000 PLN in the previous tax year.
This limit applies to annual sales, and is prorated for businesses starting mid-year. Those using the personal exemption must track sales to avoid losing eligibility. Exceeding the 200,000 PLN limit requires immediate registration as an active VAT payer, with penalties for non-compliance. Article 113(13) lists goods and services always subject to VAT, regardless of sales value.
Entrepreneurs can simultaneously utilize both subject-matter and personal exemptions, provided they meet the specific criteria for each. For instance, a business providing services exempt under Article 43(1) can also use the personal exemption if its sales of taxable goods are below 200,000 PLN and the goods aren't excluded under Article 113(13). Taxpayers wanting to use the personal exemption are not required to inform the tax office. In summary, taxpayers eligible for both types of exemptions can use both, but they must carefully verify that they meet all legal requirements.
The deadline for transferring 75% of the contribution to the Company Social Benefits Fund (ZFŚS) is May 31, 2023.
5/30/2023
Under the Company Social Benefits Fund (ZFŚS) Act, employers must transfer at least 75% of the basic levy to the ZFŚS bank account by May 31st. The basic levy is calculated annually based on the avera
Under the Company Social Benefits Fund (ZFŚS) Act, employers must transfer at least 75% of the basic levy to the ZFŚS bank account by May 31st. The basic levy is calculated annually based on the average monthly wage in the national economy for the second half of 2019, which was PLN 4,434.58.
In 2023, this results in various levy amounts per employee: PLN 1,662.97 (37.5%) for employees in standard conditions, PLN 2,217.29 (50%) for those in special conditions, and tiered amounts for apprentices based on their year of learning (5% to 7% of the base amount).
Additional, optional levies can increase the fund. An extra 6.25% (PLN 277.16) is added per employee with a significant or moderate disability, and per pensioner or retiree under the employer's social care. An additional 7.5% (PLN 332.59) can be added per person if the employer operates a company nursery or children's club, with the entire increase dedicated to these facilities.
The basic levy is calculated based on the planned average number of employees for the calendar year, adjusted for full-time equivalents, and finalized at year-end based on actual employment. The total levy amount must be transferred in two installments: 75% by May 31st and the remainder by September 30th. Failure to meet these deadlines may result in fines.
Cash pooling is a system used by capital groups to manage financial liquidity and intra-group financing. It's a banking service that enables efficient management of funds and debt limits by balancing
Cash pooling is a system used by capital groups to manage financial liquidity and intra-group financing. It's a banking service that enables efficient management of funds and debt limits by balancing the balances between company accounts. Surplus funds are transferred from companies with excess cash to those with deficits, managed through a "Pool Leader."
Cash pooling agreements, common within tax capital groups, aim to facilitate the efficient financing of participants' working capital needs. The operation depends on internal group agreements, notably the method of fund distribution. While flexibility in structuring agreements offers advantages, tax implications must be considered.
Cash pooling agreements, not explicitly defined in the Civil Code, resemble loan agreements but aren't treated as such. Unlike loans, there's no obligation to transfer a specific amount to a designated entity. This is because a participant with surplus funds cannot determine how much of their funds will be used or by whom, as confirmed by the National Tax Information Director. Therefore, cash pooling isn't subject to civil law transaction tax.
Withholding tax applies if a foreign company participates in cash pooling. Interest payments under the agreement require the payer to collect withholding tax. It's crucial to determine the recipient of the interest income to apply the correct double taxation avoidance agreement. The payer must determine the taxpayer's residency to apply the appropriate double taxation avoidance agreement, potentially reducing or eliminating the tax if a tax residency certificate is provided. Ultimately, the actual owner of the interest must be verified, and the relevant double taxation treaty's provisions must be determined.
The Polish Tax Ordinance is a foundational legal act defining taxpayer rights and obligations, covering procedural rules, tax authority actions, definitions, and appeal processes. The Ministry of Fina
The Polish Tax Ordinance is a foundational legal act defining taxpayer rights and obligations, covering procedural rules, tax authority actions, definitions, and appeal processes. The Ministry of Finance has announced a significant amendment aimed at simplifying tax procedures, enhancing tax authority efficiency, and improving taxpayer-authority relations.
Key changes include raising the threshold for third-party tax payments from PLN 1,000 to PLN 5,000 for non-family members. Simplified tax proceedings for uncomplicated cases, potentially concluding within 14 days upon taxpayer request, are also planned. Tax controls will shift towards verification activities performed by tax offices rather than individual heads of tax offices, streamlining the process. Taxpayers will be notified of automatic corrections to their PIT declarations, with the option to object.
Additionally, the government is considering a new relief for debt repayment, allowing tax deferral before the due date, and eliminating the need to apply for overpayment confirmation from corrected returns. While the proposed changes are described as revolutionary and intended to simplify tax processes, a specific project draft and implementation date are not yet known.
The Polish Tax Ordinance is a key legal framework outlining taxpayer rights and responsibilities, including procedural rules, tax authority conduct, definitions, and appeal mechanisms. The Ministry of Finance plans a substantial amendment to simplify tax procedures, boost tax authority efficiency, and foster better taxpayer relations. Notable changes include increasing the third-party tax payment limit to PLN 5,000 for those outside the immediate family. Simplified tax proceedings for straightforward matters, potentially concluding within 14 days on taxpayer request, are also anticipated. Tax audits will transition to verification activities managed by tax offices, streamlining operations. Taxpayers will be informed of automatic corrections to their PIT returns and can object. The government also intends to introduce tax deferral for debt repayment before the due date and remove the requirement to apply for overpayment confirmation for corrected returns. While these changes are intended to be revolutionary and simplify tax processes, no official draft or implementation date has been announced.
As of May 23, 2023, a new regulation from the Minister of Family and Social Policy, dated May 11, 2023, modifies the rules regarding the work certificate. This update is driven by amendments to the La
As of May 23, 2023, a new regulation from the Minister of Family and Social Policy, dated May 11, 2023, modifies the rules regarding the work certificate. This update is driven by amendments to the Labor Code, implementing the EU Work-Life Balance directive and provisions for occasional remote work.
Employers must now include information on the work certificate regarding days used for two new employee rights introduced on April 26, 2023: up to 2 days or 16 hours per calendar year of leave for urgent family matters due to force majeure, and up to 5 days per calendar year of care leave for family members. Additionally, rules for remote work, introduced on April 7, 2023, allow for occasional remote work up to 24 days per calendar year, at the employee's request.
These additions to the work certificate are intended to inform new employers about the annual limits of these entitlements, especially when an employee changes employers within the same year. The work certificate form has been updated to include specific fields for force majeure leave, care leave, and occasional remote work. Furthermore, changes related to parental leave have also been reflected in the updated certificate.
How to settle domestic advance payments in foreign currency?
5/18/2023
Entrepreneurs, especially those undertaking time-consuming and costly projects, often utilize the right to receive partial payment from a contractor before service delivery or goods provision. By coll
Entrepreneurs, especially those undertaking time-consuming and costly projects, often utilize the right to receive partial payment from a contractor before service delivery or goods provision. By collecting an advance payment, they can secure themselves against potential risks associated with the buyer's failure to meet contractual terms. The time discrepancy between receiving payment and completing an order can raise accounting and tax concerns. While domestic transactions, including those with advance payments, are common, foreign currency advances present true uncertainty.
This guide details the step-by-step process for taxpayers receiving advance payments in foreign currency. Upon receiving a foreign currency advance, the amount must be recorded in accounting books at the average exchange rate declared by the National Bank of Poland (NBP) from the preceding day. Subsequently, an advance invoice must be issued, no later than the 15th day of the month following receipt of payment. This invoice should reflect the exchange rate from the last working day before the tax liability arises, typically the day before receiving the advance. Notably, issuing an advance invoice does not create CIT liability; income is recognized upon service completion or goods delivery. Advance invoices can also be issued up to 60 days before receipt, using the NBP rate from the day before the invoice date.
Upon delivery or service completion, revenue is recognized. If the advance covers the entire order, a final invoice isn't mandatory. Advances previously recorded in deferred income accounts should be reclassified to revenue at the exchange rate of the day before delivery, accounting for any currency differences. If the advance doesn't cover the full order, a final invoice is required for the remaining balance, valued at the NBP rate from the day before delivery. Taxable currency differences are calculated only on net amounts; VAT differences are tax-neutral.
Since 2021, amendments to the VAT Act have regulated e-commerce activities, implementing EU Directive 2020/284. These changes apply to all e-commerce businesses. A new draft law, expected to take effe
Since 2021, amendments to the VAT Act have regulated e-commerce activities, implementing EU Directive 2020/284. These changes apply to all e-commerce businesses. A new draft law, expected to take effect on January 1, 2024, aims to further close VAT loopholes in the e-commerce sector.
The 2021 amendments introduced definitions for distance selling of goods within the EU and imported goods, along with the One Stop Shop (OSS) system for easier VAT declaration and payment for cross-border transactions. This includes Import One Stop Shop (IOSS), Union One Stop Shop (UOSS), and Non-union One Stop Shop (NUOSS). The IOSS procedure simplifies VAT payment and reporting for distance sales, notably by removing the €22 VAT exemption for imported goods. VAT is now collected at the point of sale by the seller for imported goods sold to EU consumers from third countries. Goods processed through IOSS are exempt from import VAT, and if they meet IOSS special procedure conditions, they also benefit from the exemption for goods valued up to €150, effectively negating the impact of the removed €22 exemption. A valid VAT identification number is required for these exemptions.
Further amendments impose reporting obligations on payment service providers for cross-border payments exceeding 25 transactions per quarter. These records will be shared with tax authorities and then submitted to the CESOP system by the 10th day of the second month following the reporting quarter. CESOP, a centralized electronic system for payment information, will facilitate cross-member state administrative cooperation to combat tax fraud and VAT gaps, managed at the EU level by the European Commission. It will collect data on cross-border transactions where payers and payees are in different member states or when the payee is in a third country. Reporting entities include credit institutions, electronic money institutions, and payment service providers.
The ongoing updates to the VAT Act underscore its susceptibility to tax fraud and the continuous efforts to close VAT gaps. The latest proposed amendment, driven by the need to exchange payment information within the e-commerce sector, is currently awaiting parliamentary approval, with a planned effective date of July 1, 2024, though this may change.
Summary:
Since 2021, Poland has been implementing EU directives to regulate e-commerce, focusing on closing VAT loopholes. Key changes include defining distance sales and introducing the One Stop Shop (OSS) system for simplified VAT management of cross-border transactions. The Import One Stop Shop (IOSS) procedure has been crucial, removing the VAT exemption for low-value imported goods and shifting VAT collection to the point of sale for sellers based outside the EU. This also allows for VAT exemption on imports for goods up to €150 if processed under IOSS. A new draft law, expected to be effective from July 1, 2024, will further enhance VAT collection in e-commerce. This includes new reporting obligations for payment service providers regarding cross-border transactions, with data to be shared through the EU's Central Electronic System of Payment information (CESOP) to combat tax fraud. These legislative adjustments reflect ongoing efforts to strengthen VAT collection and combat evasion within the rapidly evolving e-commerce landscape.
Depreciation is a crucial aspect for companies holding fixed assets with a useful life exceeding one year, used in business operations. Depreciation charges are made to account for the loss of value o
Depreciation is a crucial aspect for companies holding fixed assets with a useful life exceeding one year, used in business operations. Depreciation charges are made to account for the loss of value of fixed assets due to usage and to determine their current value. Tax depreciation amounts represent a tax-deductible expense for businesses, thereby reducing the tax base.
Tax and accounting depreciation differ. While companies must depreciate for both purposes, tax depreciation reduces the tax base by classifying depreciation as a deductible expense. The tax law permits straight-line and declining-balance methods. Straight-line amortizes acquisition or production costs evenly over the asset's life. Declining-balance allows larger deductions in early years, tapering off later, with the deduction amount dependent on the chosen declining-balance rate. Accounting law offers more flexibility, not dictating specific depreciation methods.
Depreciation for tax purposes begins the month after an asset is recorded. Charges are made from the initial value of intangible assets or fixed assets, either monthly, quarterly, or as a lump sum annually (except for the declining-balance method). Initial value is the acquisition price, production cost, or market value at acquisition if obtained through donation or inheritance. Depreciation is based on the asset's classification according to the Standard Classification of Fixed Assets (KŚT) and the selection of an appropriate depreciation rate.
Investment relief allows companies to deduct a portion of expenses for new fixed assets from the tax base. This enables one-off depreciation charges on the initial value of newly acquired assets in the year they are recorded, for specific asset categories like machinery and equipment. One-off depreciation is limited to PLN 100,000 annually if an asset's initial value is at least PLN 10,000, or if the combined initial value of at least two assets acquired in a year reaches PLN 10,000, provided each individual asset's initial value does not exceed PLN 3,500.
Assets with an initial value below PLN 10,000 can be subject to a one-off depreciation charge in the month of use or the following month. Alternatively, no depreciation may be recorded, with acquisition costs treated as expenses in the month of use.
Certain assets are excluded from tax depreciation, including land, perpetual usufruct rights, residential buildings, art, museum exhibits, goodwill (unless acquired under specific conditions), and assets not in use due to business suspension or cessation. Perpetual usufruct rights, unlike land itself, can be amortized for accounting purposes, reflecting the distribution of their acquisition cost over their period of use.
Depreciation is essential for businesses, reducing the tax base by treating depreciation charges as expenses. However, accounting and tax depreciation rules vary in rates, commencement times, and inclusions.
Amortization is a critical component of business accounting, allowing for the reduction of the taxable base by recognizing depreciation charges as deductible expenses. It's important to note that the rules for making depreciation charges differ for accounting versus tax purposes. These differences include depreciation rates, the timing of charge commencement, and inclusions.
Depreciation is a crucial accounting practice for businesses, enabling them to reduce their taxable income by treating depreciation charges as deductible expenses. Companies must adhere to different depreciation rules for financial reporting and tax purposes, which can vary in terms of rates, when charges begin, and what is included in the calculation. This process helps determine an asset's current value and its impact on the company's financial health.
Procedures for employing people with disabilities:
Upon submission of a disability certificate, the employer must record the date of receipt, marking the start of a 12-month waiting period for the em
Procedures for employing people with disabilities:
Upon submission of a disability certificate, the employer must record the date of receipt, marking the start of a 12-month waiting period for the employee to accrue the right to an additional 10 days of vacation. This applies only to first-time disability certificate holders. This additional vacation is granted in hourly increments based on the daily work schedule. Unused vacation time carries over to the next year. After 12 months from the certificate's issue date, a new employer must grant the additional vacation from the first day of employment.
Employees with moderate or severe disabilities automatically have their work hours reduced to 7 hours per day and 35 hours per week upon submitting their certificate. If an employee wishes to work 8 hours daily or overtime, a referral from the employer to an occupational health physician is required to assess the request. Reduced working hours do not affect the employee's salary.
Disabled employees are entitled to an additional 15-minute paid break for exercise or rest. Those with moderate or severe disabilities are entitled to 21 days of paid leave for rehabilitation or specialized medical procedures that cannot be performed outside of work hours. This leave is calculated like vacation pay and, combined with additional vacation, cannot exceed 21 days annually. A doctor's referral is required for rehabilitation leave, and proof of attendance must be provided.
Employers are required to adapt the workstation to meet the individual needs of the disabled employee. The employer reports the number of employees with disability certificates in declarations to PFRON (State Fund for Rehabilitation of Disabled Persons), affecting the contribution amount.
The procedures are based on the Act of August 27, 1997, on vocational and social rehabilitation and employment of disabled persons and related regulations. For further questions, contact oksana.nakonieczna@moorepolska.pl.
Easements for entrepreneurs - new government package
起業家支援の新政府パッケージ
5/10/2023
On April 13th, a draft deregulation law was published to improve the legal and institutional environment for businesses, including changes to tax law. The law aims to simplify every stage of starting
On April 13th, a draft deregulation law was published to improve the legal and institutional environment for businesses, including changes to tax law. The law aims to simplify every stage of starting and running a business.
The package is built on four pillars: facilitating starting a business, simplifying business operations, streamlining succession, and creating business-friendly economic law. It addresses entrepreneurs' needs by reducing regulations, leading to time and cost savings. This includes clearer rules for unregistered businesses and minors starting businesses, aiming to eliminate legal loopholes.
The law seeks to improve relations between businesses and public administration by reducing in-person visits, providing advance notice of audits with document lists, and reducing paperwork. The use of stamps will also be limited.
Succession is streamlined through automatic extensions of succession management, consistent bank account access for succession managers, joint exercise of rights to shares, and reduced requirements for establishing succession management.
Business law will be more friendly to businesses through the "one in, one out" principle, mandatory ex-post regulatory impact assessments, and a cyclical regulatory policy every four years.
Changes are also proposed for the Tax Ordinance, CIT, and local taxes. The Tax Ordinance would allow waiving appeal procedures if the party agrees with the first-instance decision. MDR-3 form signatures could be made by proxy. The law aims to provide a closed list of tax-related information required in tax strategies. Also, a central source of information on local tax rates will be created. Finally, average rye and wood prices for agricultural and forestry taxes would be determined by July 20th, instead of October 20th.
Since January 2023, the Polish Fiscal Penal Code has tightened regulations regarding transfer pricing, with potentially fluctuating higher fines throughout the year. Failure to comply with transfer pr
Since January 2023, the Polish Fiscal Penal Code has tightened regulations regarding transfer pricing, with potentially fluctuating higher fines throughout the year. Failure to comply with transfer pricing documentation obligations can result in penalties under both the Fiscal Penal Code and the Tax Ordinance. Sanctions can be levied for failing to prepare local transfer pricing documentation, omitting group documentation, submitting documentation late, or providing inaccurate transfer pricing information.
The Fiscal Penal Code imposes penalties up to 720 daily rates (potentially up to PLN 33.5 million) for non-preparation or inaccurate documentation, and up to 240 daily rates (potentially up to PLN 11.17 million) for late submission. Failure to submit transfer pricing information or submitting inaccurate data also carries a penalty of up to 720 daily rates, while late TPR form submission incurs a penalty of up to 240 daily rates. Lesser offenses may result in fines for fiscal violations.
The Tax Ordinance also stipulates penalties, with rates of 10% applied to improperly understated or overstated amounts. This increases to 20% if the documentation is incomplete or not provided, or if the additional tax liability exceeds PLN 15 million. The maximum rate of 30% applies if documentation is not submitted and the additional tax liability exceeds PLN 15 million. If incomplete documentation is fully supplemented within 14 days, the lack of documentation is waived.
Transfer pricing controls are becoming more frequent and stringent, especially when companies show losses for more than a year, make significant post-year-end adjustments, exhibit low profitability, have high debt, experience significant year-over-year profitability changes, or have a high share of group charges. Common errors include failing to prepare Local Files, improperly identifying homogeneous transactions, and neglecting to document free services.
Taxpayers often have queries about reorganization processes subject to documentation and how to perform comparative analysis. The penalties for non-compliance with transfer pricing documentation are among the most restrictive in Europe.
Most taxpayers encounter situations requiring them to issue or receive corrective invoices (adjusting invoices) for goods or services. These corrections can stem from various reasons such as price err
Most taxpayers encounter situations requiring them to issue or receive corrective invoices (adjusting invoices) for goods or services. These corrections can stem from various reasons such as price errors, discrepancies in the quantity of goods, or discounts. The question then arises: when can VAT be deducted from these corrective invoices?
Before 2021, the process was straightforward for "minus" corrections: the taxpayer signed and returned the invoice, and the seller accounted for VAT upon receiving it. There were no regulations for "plus" corrections, the practice depended on the cause of the correction.
Since 2021, the SLIM VAT package introduced changes, emphasizing the need for documentation confirming agreed-upon correction terms and their fulfillment. Agreements can be documented through contracts, amendments, emails, or seller's website terms.
For sellers issuing "minus" corrective invoices, the correction is accounted for when the invoice is issued, provided documentation confirms agreed terms. Without this documentation, the correction is only included in the JPK declaration for the period the documentation is obtained. For "plus" corrections, the adjustment is made in the period the correction's cause occurred, whether it's an initial error, corrected retroactively to the original period, or a secondary cause, accounted for in the current period.
Buyers receiving "minus" corrections must also possess documentation confirming agreed terms with the seller, accounting for the correction in the period they obtain this documentation, provided the original invoice was recorded. For "plus" corrections, the input VAT can be deducted in the period the corrective invoice is received or in the subsequent three periods.
Moore Polska, a medium-sized family company with 100% Polish capital and part of the Moore Global network since 2020, boasts over 250 specialists across 9 offices in 8 Polish cities. The company empha
Moore Polska, a medium-sized family company with 100% Polish capital and part of the Moore Global network since 2020, boasts over 250 specialists across 9 offices in 8 Polish cities. The company emphasizes understanding the needs of medium-sized businesses, leveraging global expertise to enhance their services.
In 2023, Moore Polska achieved 9th place in the "Rzeczpospolita" auditors ranking, a significant advancement from 10th place in 2022. This achievement is attributed to the dedication of their team and the trust of their clients.
Moore Polska aims to be seen as the most empathetic firm in the industry while continually improving its processes. They strive to be a modern enterprise that not only supports clients in their development but also acts as a partner for dialogue, emphasizing a human approach. Managing Partners Lidia Skudławska and Piotr Witek highlight the company's individual approach to each client, focusing on sustainable development and process optimization, driven by passion and built upon empathy and understanding. The company celebrates its success and remains committed to future challenges, confident in its team's ability to achieve even greater heights. They invite businesses seeking comprehensive support and sustainable growth to contact them.
Polish tax law requires businesses to report tax schemes, a regulation introduced in 2019 but temporarily suspended during the pandemic. These regulations are expected to return, and failure to comply
Polish tax law requires businesses to report tax schemes, a regulation introduced in 2019 but temporarily suspended during the pandemic. These regulations are expected to return, and failure to comply can result in significant penalties. A tax scheme is an arrangement, whether current or future, involving at least one taxpayer, designed to create a tax advantage through deliberate utilization of available tools. This applies to both domestic and cross-border transactions.
The reporting obligation falls on promoters (those who design and implement the scheme), beneficiaries (those who benefit from the scheme), and supporting entities (those involved in its development or supervision). Identifying when a scheme arises is complex, requiring careful documentation. All involved parties must be notified.
Internal procedures for managing tax schemes are mandatory for entities meeting the definition of promoters and those employing or compensating promoters. Such entities must also exceed a revenue or cost threshold of 8,000,000 PLN in the preceding year.
Ambiguities exist regarding which transactions require reporting, such as operational leasing agreements. While a leasing agreement may satisfy a general hallmark from the lessor's perspective, whether the lessee achieves a tax benefit is assessed on the particulars of the case.
Ultimately, businesses must continuously monitor and analyze their activities to ensure compliance with evolving reporting requirements. The complexity of these regulations increases the likelihood of encountering reportable events or transactions.
Flourish with Moore Poland - discover modern accounting
4/21/2023
Automate your business with Moore Polska's new, comprehensive accounting services designed to meet the needs of demanding entrepreneurs. Moore Polska emphasizes continuous development, helping clients
Automate your business with Moore Polska's new, comprehensive accounting services designed to meet the needs of demanding entrepreneurs. Moore Polska emphasizes continuous development, helping clients grow by offering modern solutions that optimize processes and provide access to essential functionalities.
Clients gain access to an individual customer account, a modern solution facilitating cooperation with accounting and optimizing internal processes. By entrusting accounting to Moore Polska, clients receive quality service from experienced professionals and exclusive access to a user-friendly application.
This provides electronic invoice exchange with Moore Polska, 24/7 access to an electronic document archive, OCR technology for optical invoice recognition, tools for issuing and sending sales invoices electronically, tools for creating cash documents and reports, streamlined transfer processes with file preparation for electronic banking import, and increased control over document processing stages.
Moore Polska provides initial training and ongoing application support. Clients can submit documents via scanner, email, drive, or a mobile app. The application issues invoices compliant with Ministry of Finance requirements, transmits sales invoices to the Central Invoice Register (KSeF), assigns a KSeF number, verifies data accuracy, and automatically retrieves and visualizes KSeF invoices. For remote document management and workflow control, Moore Polska can configure electronic document circulation. Contact Moore Polska for modern accounting solutions that maintain high quality and increase efficiency.
Gift vouchers from an accountant's perspective, part III
4/20/2023
The article discusses the financial, tax, social security contribution, and enforcement implications of gift vouchers provided to employees in Poland.
Gift vouchers can be financed from two sources:
The article discusses the financial, tax, social security contribution, and enforcement implications of gift vouchers provided to employees in Poland.
Gift vouchers can be financed from two sources: the company's operating funds or the Company Social Benefits Fund (ZFŚS). When financed from operating funds, all employees can receive vouchers of equal value. ZFŚS-funded vouchers are subject to regulations that consider the employee's life situation. Vouchers from the employer's own funds are treated differently.
Gift vouchers are considered income for employees and are subject to income tax. Vouchers purchased with the employer's own funds are subject to inheritance and donation tax if the value exceeds the tax-free amount.
Social security and health insurance contributions depend on the funding source. Vouchers from operating funds are subject to contributions like regular salary. ZFŚS-funded vouchers are exempt from contributions if they constitute social assistance and are granted according to ZFŚS regulations. A similar exemption applies if the company has a social and welfare fund in place of ZFŚS.
Benefits paid to employees from ZFŚS are subject to full enforcement. These benefits are not treated as wages. Enforcement requires a relevant enforcement title. Vouchers funded by the employer’s own resources are not subject to enforcement.
The project regarding collective labor disputes is currently under discussion with social partners in the Social Dialogue Council. A key aspect is introducing the concept of a "dominant employer," def
The project regarding collective labor disputes is currently under discussion with social partners in the Social Dialogue Council. A key aspect is introducing the concept of a "dominant employer," defined as an employer or entrepreneur who exerts significant influence over another employer or entrepreneur, particularly through ownership or organizational ties. This aims to address situations where the actual decision-maker isn't the direct employer, enabling collective bargaining with the entity holding real power over employee rights and working conditions.
The draft law also defines a collective labor dispute as a disagreement between employees and employers concerning collective rights, freedoms, or interests related to employment. It stipulates that multiple unions must form a joint representation for negotiations. The proposed law limits the duration of a dispute to nine months, extendable by agreement to twelve, after which it must conclude with an agreement, a record of disagreements followed by a vote and strike, or it expires. To reinforce mediation, the project aims to enhance the standards and requirements for mediators and maintain a public list of mediators managed by the minister. A party requesting mediation must inform the other party and include a record of disagreements. Preventive mediation is also introduced to de-escalate conflicts during negotiations.
VAT tax control is a crucial tool for tax authorities, aimed at combating tax fraud and ensuring the proper functioning of the tax system. It involves checking whether taxpayers comply with tax regula
VAT tax control is a crucial tool for tax authorities, aimed at combating tax fraud and ensuring the proper functioning of the tax system. It involves checking whether taxpayers comply with tax regulations and avoid irregularities. Significant discrepancies between input and output VAT can trigger an investigation, which must stay within the scope defined by the authorization. Both businesses and individuals registered for VAT can be subject to these controls.
VAT is highly susceptible to abuse due to its neutral, transferable nature. While businesses have the right to deduct input VAT, this mechanism can be exploited through schemes like carousel fraud, which aim to defraud the state via fictitious transactions. International trade also presents risks of tax evasion due to differing tax laws and rates across borders, often exacerbated by poor accounting practices.
Tax controls serve a preventative role. Taxpayers receive advance notification, typically 7 to 30 days before an audit. During a control, tax authorities may request accounting documents, conduct interviews with employees, and examine specific periods or the entire operational history. Actions include analyzing accounting records and VAT registers, verifying the consistency of goods/services with tax declarations, and ensuring correct VAT rate application. Cross-control procedures examine transactions between two entities to detect discrepancies and fraud.
To minimize the risk of a VAT audit, businesses should maintain accurate accounting records, apply correct VAT rates, and implement due diligence procedures for verifying business partners, including checking their bank account registration on the "white list" and the legitimacy of transactions. The split payment mechanism, where VAT is paid to a separate VAT account, enhances payment transparency.
If notified of an audit, taxpayers should rectify any errors in their documentation, ensure all financial records are organized and accessible, verify compliance with regulations, and prepare for potential questions from tax inspectors. Internal audits are also recommended for early error detection and correction.
In summary, VAT tax control is essential for maintaining the integrity of the tax system and fighting fraud. Taxpayers are obligated to keep accurate records, but the dynamic nature of tax law, particularly for fraud-prone taxes like VAT, often necessitates audits. Implementing internal procedures and seeking professional advice can significantly mitigate tax risks and the likelihood of an audit.
The obligation to pay withholding tax on income earned in Poland applies to both residents and non-residents. Withholding tax (WHT) is a flat tax on income for individuals and legal entities who are n
The obligation to pay withholding tax on income earned in Poland applies to both residents and non-residents. Withholding tax (WHT) is a flat tax on income for individuals and legal entities who are non-residents, specifically when they earn income in Poland. The Polish payer is responsible for withholding and remitting this tax. Certain situations may also require Polish residents to pay WHT, such as dividend payments to domestic entities.
WHT applies to intangible services and income derived from interest, royalties, rights to inventions, trademarks, designs, as well as fees for using industrial, commercial, or scientific equipment, know-how, and services related to entertainment or sports performed by foreign entities. It also covers fees for cargo and passenger transport by foreign shipping companies from Polish ports (excluding transit), income of foreign airlines from Polish operations (excluding scheduled passenger transport), and dividends or other profit distributions. The scope can be influenced by double taxation treaties.
Key considerations for WHT include exercising due diligence when withholding tax or applying reduced rates/exemptions. This involves verifying document accuracy, the recipient's tax residency, and the counterparty's status as a taxpayer. Confirming beneficial ownership, meaning the recipient is the true owner of the income and conducts genuine business activity, is also crucial for tax preferences.
The "pay and refund" mechanism allows for tax withholding and subsequent refund requests. A 2,000,000 PLN limit applies to payments of WHT-liable income to the same taxpayer. Exceeding this limit requires withholding the statutory rate (19% or 20%). Refunds can be claimed by the taxpayer or payer, with a typical verification period of six months, potentially extending to nine. Failure to refund within the statutory period incurs interest. Tax authorities may approve or deny refund requests through a decision, which can be appealed. The complexity of WHT, especially regarding due diligence and verification, often leads to disputes.
The amendment to the Labor Code, enacted on March 9, 2023, was published in the Journal of Laws on April 4, 2023, and takes effect on April 26, 2023, 21 days after publication. The changes aim to impr
The amendment to the Labor Code, enacted on March 9, 2023, was published in the Journal of Laws on April 4, 2023, and takes effect on April 26, 2023, 21 days after publication. The changes aim to improve employee work-life balance but will increase employers' administrative burden.
Key amendments include: leave due to force majeure, five days of unpaid care leave, additional work breaks, modifications to probationary period contracts, changes to fixed-term contract termination rules, expanded information requirements in employment contracts, extended parental leave, allowance of electronic applications, and a shortened timeframe for using paternity leave.
For further details, readers are invited to review a presentation (available via link). The author encourages readers to contact anna.niegowska@moorepolska.pl with any questions. Experts are available to provide assistance.
More and more companies are expanding their marketing activities in the age of social media, AI, and innovations to stay competitive and maximize profits. This raises questions about taxation across v
More and more companies are expanding their marketing activities in the age of social media, AI, and innovations to stay competitive and maximize profits. This raises questions about taxation across various marketing forms implemented by Polish businesses.
Small value gifts and samples, as defined by VAT law, may be subject to specific regulations depending on their value and record-keeping. Gifts below a certain value (100 PLN annually per person if records are kept, or 20 PLN per item if not) can be treated differently. Sample goods of small amount that demonstrate a product’s features are subject to specific documentations linking the item with increasing the company's revenue.
Advertising expenses are generally tax-deductible as they aim to generate income. This includes costs for sponsored social media content, TV ads, banners, and posters, and VAT can be deducted from these expenses.
Representation expenses, aimed at creating a positive image, are generally not tax-deductible, although the deduction of VAT is possible. The director of National Fiscal Information agreed in the individual interpretation issued on August 18, 2017, confirming the possibility of deducting input tax related to representation expenses.
In summary, companies should be aware of tax regulations related to their marketing activities. Depending on the type of marketing activity, there may be tax obligations related to VAT or income tax. It's important to consult tax authorities' opinions, explanations, judgments, and interpretations.
In theory, VAT covers the paid supply of goods and services within the country. However, unpaid services can also be taxable. When providing unpaid services to employees, it's crucial to understand th
In theory, VAT covers the paid supply of goods and services within the country. However, unpaid services can also be taxable. When providing unpaid services to employees, it's crucial to understand the VAT implications. VAT applies to paid supply of goods, services, exports, imports, and intra-community transactions. The transfer of the right to dispose of goods as an owner, including free transfers and consumption for personal use by the taxpayer or employees, is considered a taxable supply of goods if the taxpayer had the right to deduct VAT. Unpaid services for personal use, including those for employees, are also taxable.
However, unpaid services not related to business activities are exempt. The connection between the service and the business is key. Employee accommodation is generally considered personal, but if necessary for work efficiency, it may not be taxable. This often depends on the necessity of lodging near the workplace, away from the employee's residence. Free transportation to work is usually taxable, unless it's the only way for employees to reach work, thus benefiting the employer's business. Gifts are exempt if of small value (up to 20 PLN) or, with proper records, up to 100 PLN per person per year. In conclusion, assess the primary purpose of unpaid services, ensuring it's linked to business operations rather than solely benefiting the employee personally, to determine VAT obligations.
Gift vouchers from an accountant's perspective, part II
4/6/2023
The article discusses the transfer of gift vouchers and income tax implications, building upon a previous discussion of fundamental aspects.
Regarding voucher transfers, the VAT treatment depends on
The article discusses the transfer of gift vouchers and income tax implications, building upon a previous discussion of fundamental aspects.
Regarding voucher transfers, the VAT treatment depends on whether the voucher is for a single or multiple purposes. For single-purpose vouchers transferred by an intermediary on behalf of the issuer, the transfer is considered a supply of goods or services by the issuer. The distributor accounts for VAT on their intermediary services, while the issuer is liable for VAT on the voucher sale. Free transfers are treated as free supplies. If a foreign business without a presence in Poland transfers a single-purpose voucher to a Polish VAT payer, the Polish buyer is responsible for VAT if the supply location is in Poland.
For multi-purpose vouchers, when transferred by someone other than the issuer, only intermediary services like distribution or promotion are subject to VAT. The issuer is responsible for VAT when the vouchers are redeemed; the transfer to the distributor is not taxable.
Regarding income tax, revenue is recognized when goods are delivered or services are rendered, or at the latest, when an invoice is issued or payment is made, according to the Accounting Act and the Corporate Income Tax Act. Issuing a voucher doesn't create revenue, but redeeming it does, regardless of the voucher type. If a voucher expires unused, revenue is recognized on the expiration date.
Having experience as both an auditor working with Supervisory Boards and as a member of one, this article highlights key financial topics for Supervisory Boards to regularly discuss. These include:
*
Having experience as both an auditor working with Supervisory Boards and as a member of one, this article highlights key financial topics for Supervisory Boards to regularly discuss. These include:
**Margins, Profitability, and Break-Even Point:** Understanding the company's market (retail, wholesale, etc.) and tracking margins, sales profitability, and break-even points for new projects are crucial. Margin analysis reveals how much profit each sale generates and identifying downward trends is vital.
**Liquidity and Cash Resources:** Companies fail due to liquidity issues, not just lack of profit. Monitoring working capital, inventory turnover, and receivables collection is essential. Assessing liquidity ratios is also important, especially during annual reviews.
**Investments, Debt, and Capital Negotiations:** The Supervisory Board approves business strategy and related investments. Understanding the consequences of loans, debt agreements, and capital increases (interest rates, currency risk) is a must. Reviewing loan covenants is also critical.
**Internal Control Systems - Risks, New Operations, Fraud:** Supervisory Boards should actively engage with the COSO framework. It's important to review the internal control system annually, especially during rapid development. Implementing "four eyes principle" and reviewing management authority can support fraud detection.
**IT Systems - Business Continuity, Data Integration and Security:** Ensuring IT systems have backup plans, data is archived, and recovery tested are essential. Solving data integration problems leads to business success.
**Business Model and Changing Expectations (ESG):** Regularly testing the business model and comparing it to competitors can result in innovative activities and strengthen the business model. Furthermore, taking into account the impact of the organization on the ecosystem is increasingly important.
Ultimately, being a Supervisory Board member requires critical and non-linear thinking. Questioning assumptions to strengthen the organization and finding areas for improvement allows the business to develop more strongly.
Succession, or inheritance, is a major challenge for family businesses. In Poland, these firms are categorized into five levels, from potentially family-owned (92% of family companies) to multi-genera
Succession, or inheritance, is a major challenge for family businesses. In Poland, these firms are categorized into five levels, from potentially family-owned (92% of family companies) to multi-generational (only 5%), with varying degrees of family involvement and succession planning.
Family businesses significantly impact the Polish economy, contributing a substantial portion of the GDP and export market. While they constitute the vast majority of Polish companies (92%), only a smaller percentage consider themselves as family businesses. Globally, they account for a significant share of GDP and employment.
Succession rates remain low, with only a fraction of family businesses successfully transitioning to the second or third generation. Many owners desire to pass the business to their descendants, but few successors are willing. A small percentage have formal succession plans. Cultural factors, like those in Asia, can positively influence long-term family business success, exemplified by the Hoshi Ryokan hotel in Japan.
Planning for succession is crucial for business survival, involving successor preparation and knowledge transfer. Open communication about expectations and needs is essential. Nurturing children to take over the family business requires unconditional love, problem-solving skills, and allowing independence.
SLIM VAT 3, a proposed amendment to VAT by the Polish Ministry of Finance, aims to simplify VAT accounting, improve financial liquidity for businesses, and streamline invoicing. Scheduled to take effe
SLIM VAT 3, a proposed amendment to VAT by the Polish Ministry of Finance, aims to simplify VAT accounting, improve financial liquidity for businesses, and streamline invoicing. Scheduled to take effect on April 1, 2023, it builds upon previous SLIM VAT packages from 2021, which addressed international transactions and VAT deduction deadlines.
SLIM VAT 3 includes raising the small taxpayer sales limit to 2 million euros, allowing VAT account funds to be used for retail sales tax, and eliminating the requirement to possess an invoice for intra-community acquisition of goods when deducting VAT. It also reduces the number of necessary adjustments, simplifies VAT accounting by waiving corrections if the difference between preliminary and final proportions doesn't exceed 2%, streamlines reporting for sales using cash registers, and unifies regulations for Binding Rate Information (WIS), Binding Tariff Information (WIT), Binding Excise Information (WIA) and Binding Origin Information (WIP). The fee for a WIS application will be abolished, and a spending review process will be implemented in public finance.
The package was also influenced by the CJEU ruling C-935/19, which calls for VAT sanctions to be proportionate to the nature of the offense. Sanctions will be applied at the authorities' discretion, based on the nature of the activity and taxpayer's due diligence. Maximum sanctions should be applied only in the case of tax fraud.
A good leader possesses qualities like leadership, empathy, and respect. They understand business, make sound decisions, and care about the organization. Communication and persuasion skills are vital,
A good leader possesses qualities like leadership, empathy, and respect. They understand business, make sound decisions, and care about the organization. Communication and persuasion skills are vital, as is self-criticism. Crucially, they guide a team of diverse individuals, fostering their development, not just managing tasks. Being a good leader is challenging and not for everyone.
Contrary to the image of an infallible perfectionist, a good leader is not without flaws. Their strength lies in self-assessment, enabling continuous growth. Perfection isn't the goal; rather, it's about expanding knowledge and preventing stagnation within the team. If doubts exist about one's ability to guide others effectively, it's better to step aside. Leadership isn't necessarily teachable; some are naturally inclined, while others excel as experts. Combining both roles requires significant self-improvement and a commitment to learning.
Good leaders possess numerous qualities that aren't always easily learned, but are honed over time. They are multidimensional, creative, and knowledgeable, building teams that complement each other. They unite and motivate, communicate honestly about successes and failures, and sometimes act as mediators. Clear communication is essential, whether listening, advising, or making tough decisions.
Thirteen key traits of a good leader include: good leadership, honesty, respecting opinions, valuing others, asking questions instead of commanding, persuasiveness, offering approval, driving the team to success, trusting employees, active listening, clear communication, decisive decision-making, and commitment to continuous development. A good leader is also a good business partner, professional and transparent. Moore Polska offers individuals who understand and build empathetic client relationships.
Choosing the employment form for a management board member is a common dilemma for companies. A board member can act as a member of the governing body, a third party with a civil law contract, or a th
Choosing the employment form for a management board member is a common dilemma for companies. A board member can act as a member of the governing body, a third party with a civil law contract, or a third party with an employment contract. Each form has specific tax implications and obligations to the Social Insurance Institution (ZUS). It's crucial to understand these options to make the most beneficial and secure choice.
Formal requirements for board members are outlined in the Commercial Companies Code, including full legal capacity and no criminal convictions for certain offenses. Employment options include appointment, employment contract, or civil law contract. The choice depends on factors like whether the member is a shareholder, the employment duration, and associated costs.
Appointment is often preferred for its simplicity. Until recently, it was attractive due to the lack of mandatory social security contributions, although health insurance is still required. Employment contracts are increasingly scrutinized by ZUS, requiring clear separation of duties and genuine positions within the company. Civil law contracts are considered safer from ZUS challenges, but their content must avoid resembling employment contracts to avoid similar social security obligations.
Board members are entitled to remuneration, usually determined by shareholder resolution for appointments and by contract terms for employment or civil law agreements. Termination can occur through dismissal, death, mandate expiration, or resignation. Resignations must be submitted to shareholders, and may result in liability for damages caused by sudden departure without a valid reason. Proper documentation of activities is crucial for potential audits.
Tax succession involves the transfer of rights and obligations from one entity to another resulting from a transformation or significant structural change in the original entity. It typically occurs w
Tax succession involves the transfer of rights and obligations from one entity to another resulting from a transformation or significant structural change in the original entity. It typically occurs when a sole proprietorship expands and becomes a company, or when an existing company undergoes changes in its legal form. Restructuring requires careful consideration of both organizational and tax consequences.
Company transformations are regulated in the commercial companies code, encompassing changes between different types of partnerships or capital companies. These modifications in legal form may be driven by the desire to alter the distribution of rights and obligations, organizational structure, business expansion, or mergers and acquisitions. Transforming a capital company into a partnership can be particularly complex due to the taxation of undistributed profits. Companies undergoing liquidation or bankruptcy cannot be transformed.
Tax succession resulting from company transformations is governed by the Tax Ordinance. The newly formed legal entity assumes all rights and obligations of the transformed company. In case of conflicting regulations between the general Tax Ordinance and specific tax laws, the latter prevails.
Transforming a sole proprietorship into a single-person capital company involves specific rules regarding tax succession, focusing on the succession of rights rather than obligations. This excludes the entrepreneur's personal liability for obligations.
In conclusion, company transformations result in new obligations stemming from tax succession as outlined in the Tax Ordinance. While transformations facilitate business expansion, it's essential to assess potential tax burdens and consequences.
In today's business environment, effective management requires more than just industry expertise. Leaders need a grasp of economics, business psychology, finance, law, and taxation. This multifaceted
In today's business environment, effective management requires more than just industry expertise. Leaders need a grasp of economics, business psychology, finance, law, and taxation. This multifaceted demand has led to a shift where managers and owners seek a "business partner" in their finance and accounting professionals. These partners, armed with the right knowledge, can simplify complex business realities into analyzable facts for management.
This article outlines key discussions between business owners, boards, and finance professionals who embrace the business partner role. A critical question managers often pose is, "Can we afford this?" This seemingly simple query triggers a deep dive into current financial health, profitability drivers, short-to-medium term forecasts, cash flow projections, and the allocation of any surplus funds.
A common source of frustration for executives is the disconnect between accounting profit and actual cash availability. This arises from the accrual basis of accounting (memoriał) versus the cash basis (kasowa). Accrual accounting recognizes revenue and expenses when earned or incurred, not necessarily when cash changes hands. For instance, sales are recorded upon delivery, not payment. Similarly, purchases with deferred payment terms impact cash later. VAT further complicates this by requiring payment on sales tax differences, irrespective of actual cash received.
A proficient financial analyst can bridge this gap by analyzing revenue-to-cash conversion rates and the timing of expenses. They connect profitability metrics with liquidity and working capital management, examining receivables, payables, and inventory. Understanding where a business earns the most is paramount for strategic resource allocation. Profitability, defined as the difference between selling price and costs, necessitates a granular understanding of all associated expenses. Pricing strategies are crucial; poorly set prices can lead to business failure.
Future-oriented questions about interest rates, currency exchange rates, and the cost of energy or raw materials are vital for planning. Financial directors and chief accountants monitor economic indicators to forecast future margins, profits, cash flows, and costs. While forecasts are not exact, they provide sufficient accuracy to navigate business operations and mitigate risks.
Regarding tax optimization, it's achievable but depends on an owner's risk appetite. While accountants are inherently cautious, business owners should collaborate on tax strategies, as interpretations and legal precedents evolve. Seeking external expertise can ensure optimal tax planning.
The decision between purchasing, leasing, or financing assets varies. While large corporations have centralized decisions, smaller entities benefit from expert financial advice tailored to their specific goals and financial position. Ultimately, a good financial partner, understanding the CEO's vision, can guide these crucial decisions, identifying both opportunities and risks within the business, thereby significantly influencing its successful development.
Employee wellbeing encompasses more than just fair pay and benefits; it requires a holistic approach. It includes a positive work atmosphere, satisfactory compensation, and development opportunities.
Employee wellbeing encompasses more than just fair pay and benefits; it requires a holistic approach. It includes a positive work atmosphere, satisfactory compensation, and development opportunities. Beyond these, perks like team-building activities, relaxation areas, bonuses, and holiday gifts contribute. Ultimately, wellbeing is about an employee's overall quality of life, a concept particularly important for younger generations entering the workforce.
Gallup identifies five key elements of wellbeing: finding meaning in daily work, strong workplace relationships, financial security, good physical health, and a positive connection to one's community. Research indicates that healthy employees are significantly more productive, engaged, and have lower absenteeism rates.
Despite efforts, many companies struggle with employee wellbeing, often focusing on engagement metrics without genuine implementation. Common pitfalls include treating engagement as a mere survey or program rather than a continuous practice, prioritizing survey data over people development, and defining engagement as simply the absence of dissatisfaction instead of genuine enthusiasm. Companies also err by relying on metrics that provide flattering results rather than those that identify organizational issues.
The synergy between wellbeing and work-life balance hinges on employee appreciation. Recognized employees who feel valued are more productive. Fostering a sense of importance and belonging encourages employees to take on challenges and minimize errors. A company's commitment to wellbeing reflects its organizational culture, leading to happier, more productive employees, a better work-life balance, and attracting new talent, ultimately driving growth and success. Investing in employee wellbeing yields significant returns across multiple dimensions.
Development works have long been present in Polish balance sheets, with established knowledge and best practices now available. It's a misnomer to claim ignorance, as the landscape has significantly s
Development works have long been present in Polish balance sheets, with established knowledge and best practices now available. It's a misnomer to claim ignorance, as the landscape has significantly shifted. Striving to make development works a source of pride, not a weakness, is achievable. Tools exist to support this, including grant agreements from entities like NCBR, which often necessitate revenue forecasts, success criteria, and TRL scale assessments.
Development works remain a challenging asset due to specific accounting requirements lacking practical examples, the inherent variability of R&D projects, skepticism from auditors and external users, significant asset values attracting scrutiny, reliance on estimates increasing error risk, and potential misuse for artificial profit enhancement by deferring current costs. This often leads to analysts treating these assets as worthless.
Five common myths CFOs fall for regarding development works include: viewing them as a quick profitability booster, which can mask liquidity issues and lead to over-investment; extending amortization periods, creating a ticking time bomb for future write-downs; believing no one will notice these significant balance sheet items; assuming no one knows how to properly account for them, despite available tools and guidance; and accepting the notion that development works are inherently fraudulent, which is untrue unless misused for financial misrepresentation. Proper management and use of tools can ensure development works are a strength.
Development works, when managed correctly, represent genuine investment that should yield returns, not a tool for financial manipulation. Companies whose core business relies on internally developed technology are adept at managing these investments, using available tools to monitor progress and profitability. The aim should be to ensure development works are a point of pride in financial statements, not a vulnerability.
Gift Vouchers from an Accountant's Perspective Part I
3/16/2023
Gift vouchers are commonly understood by consumers as a way to acquire goods or services without depleting their personal budget. However, for a voucher to be received, it must first be issued and ent
Gift vouchers are commonly understood by consumers as a way to acquire goods or services without depleting their personal budget. However, for a voucher to be received, it must first be issued and enter circulation. This introduces the issuer, a business entity, which must account for gift vouchers as economic events.
This article delves into gift vouchers, focusing on their legal essence, types, and accounting treatment, including VAT. A voucher is legally defined by the VAT Act as consideration for the supply of goods or services, where these items or their suppliers can be identified. Vouchers are payment instruments, distinct from discount cards.
The VAT Act distinguishes two types of vouchers: single-purpose vouchers, where the place of supply, services, and VAT amount are known at issuance, and multi-purpose vouchers, where at least one of these elements is unknown at issuance. Issuing a voucher means its first introduction into circulation, while issuance and subsequent transfers are considered voucher transfers. Vouchers can be physical or electronic, paid or free.
From a VAT perspective, the tax obligation is crucial. While issuing a voucher does not create a tax obligation, its redemption does. Vouchers are initially recorded as deferred revenue. The distinction between single-purpose and multi-purpose vouchers is key for VAT. For single-purpose vouchers, VAT is due upon sale; for multi-purpose vouchers, VAT is due upon redemption. Small taxpayers using the cash method are exempt from VAT on single-purpose voucher transactions. Income tax related to vouchers will be covered in a subsequent part.
The Estonian CIT, or lump-sum CIT on company income, shifts taxation from the difference between taxable revenue and costs to the taxation of accounting profit upon profit distribution. While it simpl
The Estonian CIT, or lump-sum CIT on company income, shifts taxation from the difference between taxable revenue and costs to the taxation of accounting profit upon profit distribution. While it simplifies accounting, it requires initial obligations. Companies adopting Estonian CIT for 2023 must present specific equity items in their December 31, 2022 balance sheets: undistributed and distributed profits earned before the first year of lump-sum taxation, and uncovered losses from prior years. Standard balance sheet templates may not accommodate these, but greater detail is permissible per accounting law.
A preliminary adjustment is necessary to reconcile tax and accounting results. This involves including accounting revenues not recognized as taxable, and taxable costs not recognized as accounting costs, and vice versa. This adjustment may create a provisional liability that expires after four years of Estonian CIT application, classifying it as a contingent liability.
Companies under Estonian CIT must also disclose income from hidden profits in their financial statement footnotes. Additionally, deferred tax assets and provisions should be derecognized if the company is expected to continue with Estonian CIT, as they won't be utilized in tax settlements, impacting the preceding year's financial results.
The regional branch of the Polish Chamber of Statutory Auditors in Gdańsk celebrated its 30th anniversary on February 3, 2023, at Olivia Star. The event was honored by the presence of Barbara Mistersk
The regional branch of the Polish Chamber of Statutory Auditors in Gdańsk celebrated its 30th anniversary on February 3, 2023, at Olivia Star. The event was honored by the presence of Barbara Misterska-Dragan, President of the Polish Chamber of Statutory Auditors, and featured a performance by Agnieszka Babicz-Stasierowska, vocalist of the band Rama 111.
Piotr Witek, Managing Partner of Moore Polska and a statutory auditor, shared his insights on his profession. He discussed his motivation for choosing this career, its evolution over three decades, and the value of being a statutory auditor. The profession's roots trace back nearly a century to a Ministry of Finance project for "expert accountants" aimed at detecting tax offenses. The term "statutory auditor" first appeared in a 1928 presidential decree, defining their role in examining financial reports of joint-stock companies. The modern profession emerged alongside economic reforms after 1989, leading to the establishment of the National Chamber of Statutory Auditors in 1992, marking 2023 as the 30th anniversary of the current self-governing body and profession.
Witek, an auditor for 21 years, was influenced by his mother, Lucyna Witek, also a statutory auditor and founder of a successful accounting firm. He detailed his career progression, from implementing integrated management systems to holding financial director positions, eventually returning to lead his family's company. Currently, he manages a team of nearly 250 professionals across nine offices in Poland, emphasizing employee development and success. Moore Polska is a leading provider of accounting, payroll, audit, tax, and legal advisory services, and part of the international Moore Global network. Witek and Lidia Skudławska's passion and experience drive Moore Polska's achievements.
Environmental Reports – Entities Obligated to Submit Environmental Reports
3/14/2023
Polish entrepreneurs often have an obligation to prepare annual environmental reports and pay environmental fees. This article details the types of environmental reports and their submission deadlines
Polish entrepreneurs often have an obligation to prepare annual environmental reports and pay environmental fees. This article details the types of environmental reports and their submission deadlines.
The "Report/Information on the Scope of Environmental Use and Environmental Fees" is due by March 31st. This report quantifies emissions of greenhouse gases, dust, and stored pollutants, forming the basis for calculating environmental fees. Entities using the environment are responsible for determining their fees for the period of use. This reporting obligation applies to various entities, including sole proprietorships, companies, cooperatives, legal persons, foreign entrepreneurs, agricultural producers, legal entities without legal personality but with legal capacity, and individuals whose environmental use requires a permit. The report, submitted to the provincial governor, includes data on substances introduced into the air, greenhouse gas emissions, and stored waste, along with the calculated fees. There's an exemption from submitting these reports if the annual fee for each type of environmental use does not exceed PLN 100. Furthermore, the environmental fee itself is due by March 31st of the following year, with no payment required if the total annual fee is less than PLN 800.
The "Report on Waste Generation and Management" is due by March 15th. This report aims to improve waste management systems, combat the grey economy and illegal landfills, and enhance recycling efficiency, ultimately protecting public health and the planet. It is prepared by waste producers who are required to keep records, entities managing waste (excluding municipal waste collectors in terms of collection and processing), and those extracting waste from landfills with appropriate consent. The report, submitted electronically via the BDO database to the relevant provincial governor, includes identification data and information on the mass and types of waste.
The "Report on Products, Packaging, and Waste Generated from Them" is also due by March 15th. This detailed report is for the annual accounting of environmental use and associated fees, mandated for specific entities. These include those introducing and exporting packaging, products in packaging, retail or wholesale businesses offering plastic shopping bags subject to a recycling fee, entities introducing products covered by product fee regulations, importers of vehicles subject to recycling laws, and those introducing equipment, authorized representatives, batteries, or accumulators. The report, submitted to the provincial governor based on the entrepreneur's registered address, contains identification data and information on the mass and types of packaging.
Environmental reports are crucial for practical environmental protection, aiming to control emissions and waste disposal from various industrial and commercial activities. The data collected helps optimize environmental protection processes. Failure to submit these reports or pay the required fees by the deadlines can result in penalties, including interest and fines.
The modern business world is complex and globalized, necessitating trust and reliability in partnerships. This is where statutory audits become crucial. In Poland, companies exceeding two out of three
The modern business world is complex and globalized, necessitating trust and reliability in partnerships. This is where statutory audits become crucial. In Poland, companies exceeding two out of three thresholds—50 employees average, 2.5 million Euro balance sheet total, or 5 million Euro revenue—require mandatory financial statement audits. An audit provides an opinion on the financial statements, assuring stakeholders that they accurately reflect the company's true financial position.
Several factors influence auditor selection and service costs. Key among these are industry knowledge and expertize, the auditor's resources and timeline, brand reputation, international experience, and work culture. Industry expertise is vital for understanding complex valuations and business models. Adequate resources, including skilled personnel and technology, are necessary for timely and efficient audits, especially for large entities. A strong brand reputation ensures recognition and adherence to high standards, while international experience is critical for global businesses. Work culture impacts communication and accessibility to key personnel. The cost of audits varies significantly based on these factors, company size, and the accounting standards applied (Polish GAAP, IFRS, or US GAAP), ranging from tens of thousands for smaller entities to millions for large corporations.
This article explains the importance of a "accounting policy" document for businesses, especially when their accounting is handled by external parties. The Polish Accounting Act mandates that companie
This article explains the importance of a "accounting policy" document for businesses, especially when their accounting is handled by external parties. The Polish Accounting Act mandates that companies keeping full accounting records must have a written accounting policy. This document details how a company will conduct its accounting, including its financial year, reporting periods, valuation methods for assets and liabilities, how financial results are determined, and the principles for keeping books, such as the chart of accounts and classification of economic events. It also specifies data protection systems for accounting evidence.
The law outlines key elements for the accounting policy, but it's not exhaustive. The policy should be tailored to the specific nature of the business and may include methodologies for documenting operations, inventory principles, accruals, provisions, receivables valuation, inventory accounting, fixed asset registration and depreciation, and document archiving. The article criticizes the common mistake of treating the accounting policy as a mere formality. It highlights that the company's Head is ultimately responsible for this document, but the accountant's expertise in accounting methods and system limitations is crucial. Collaboration between the Head and accounting services is vital to ensure the accounting reflects the company's strategy and adapts to changes.
Changes to the accounting policy are necessary due to external economic factors, legal changes, or the company's decision to alter accounting simplifications or adopt International Financial Reporting Standards (IFRS). The accounting policy also forms part of the annual financial statement introduction. In essence, a well-defined accounting policy organizes a company's operations, aids accounting services, and ensures the quality of financial reports, providing clarity to auditors and regulatory bodies.
International Women's Day is an official holiday in many countries, including Albania, Algeria, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Brazil, Bulgaria, Burkina Faso, Cameroon, China, C
International Women's Day is an official holiday in many countries, including Albania, Algeria, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Brazil, Bulgaria, Burkina Faso, Cameroon, China, Cuba, Laos, Kazakhstan, Kyrgyzstan, North Macedonia, Moldova, Mongolia, Montenegro, Poland, Romania, Russia, Serbia, Tajikistan, Ukraine, Uzbekistan, Vietnam, Italy, Zambia, and Tunisia. Notably, Armenia observes a Women's Month from March 8th to April 7th, while Tunisia celebrates Women's Day on August 13th.
At Moore Polska, every day is a celebration of women. Women constitute 80% of our workforce of over 250 employees, and they also dominate senior management and the Board of Directors. Lidia Skudławska and Piotr Witek serve as Managing Partners, working collaboratively to foster employee development. The company attributes its continued success and process optimization to the professionalism, knowledge, and dedication of its female employees, expressing daily gratitude for their contributions to Moore Polska's growth. Among the 203 women at Moore Polska, "Anna" is the most common name, with nineteen employees, followed by "Katarzyna" with seventeen, and "Agnieszka" with twelve. Agnieszka is the most popular name among high-level managers, and Katarzyna is most prevalent on the Board of Directors. Moore Polska extends its best wishes to all women on their special day, thanking them for their presence and contributions.
Provision of services by a partner, and hidden profit
3/7/2023
Since 2021, Estonian CIT (Corporate Income Tax) has been an alternative tax regime for companies. Its core purpose is to provide a competitive and simple system that discourages tax abuse. While it ha
Since 2021, Estonian CIT (Corporate Income Tax) has been an alternative tax regime for companies. Its core purpose is to provide a competitive and simple system that discourages tax abuse. While it has been in place for two years, its interpretation, particularly regarding "hidden profits," remains open. Recent individual tax interpretations offer guidance on what activities do not constitute hidden profits.
Eligible companies for Estonian CIT must primarily generate revenue from operational activities, employ staff beyond shareholders, operate as a capital company, and have a simple ownership structure (individuals only, no stakes in other entities). The tax is levied upon profit distribution, not income generation, fostering investment and improving liquidity. The tax base includes distributed profits, profits covering losses, and hidden profits.
Hidden profits are defined as any shareholder benefits beyond dividends, whether monetary or non-monetary, paid or unpaid, linked to the shareholder's right to profit participation. Such benefits trigger a tax liability. The classification of services provided by a shareholder to the company as hidden profits can be complex. While the law doesn't explicitly list such scenarios, a recent tax interpretation clarified that market-based transactions, like services rendered under cooperation agreements with civil liability for non-performance and independent of the company's financial status, are not considered hidden profits if they are not linked to the shareholder's right to profit participation. These interpretations, while not universally binding, provide valuable insight into tax authority practices.
The Estonian CIT has become popular for its potential tax cost reduction, with companies attracted by lower tax rates. However, ambiguities in certain concepts necessitate the use of individual tax interpretations for clarity on tax obligations and the practical application of tax laws.
Taxation of Gifts for Employees and Business Partners
3/2/2023
Companies often express gratitude to employees or contractors through gifts or gift cards, funded from company operating funds or the Company Social Benefits Fund (ZFŚS). This can have tax implication
Companies often express gratitude to employees or contractors through gifts or gift cards, funded from company operating funds or the Company Social Benefits Fund (ZFŚS). This can have tax implications. The source of funding impacts the tax treatment of gifts for employees. Gifts to employees from operating funds are generally considered income from employment, subject to income tax and social security contributions (ZUS), except for gifts of small value (under 100 PLN per year). Gifts funded from ZFŚS are tax-free up to 1000 PLN per year, above which they are taxable income but not subject to ZUS contributions. Employee benefits within a motivation system are treated as monetary equivalents, subject to income tax and ZUS.
Gift cards for employees and contractors are generally not considered tax-deductible expenses for the company, as they are viewed as donations. Gifts to business partners, lacking a promotional purpose, are also not deductible. Gifts received by B2B partners are treated as business income, with the partner responsible for taxes. VAT obligations may arise when giving gifts to contractors, unless they are of small value and related to the company's business. Companies were previously required to file PIT-8AR forms for gifts to contractors, but are now obligated to show the benefit in PIT-11. No declaration is needed for small-value gifts. Tax analysis of funding sources can lead to tax optimization for both employers and employees.
We understand the importance of continuous development. Stagnation, or even regression, results from a failure to strive for improvement and process optimization. Moore Polska has created the Akademia
We understand the importance of continuous development. Stagnation, or even regression, results from a failure to strive for improvement and process optimization. Moore Polska has created the Akademia Moore Polska training program to address this need in a dynamic business environment, facilitating the ongoing enhancement of knowledge and improved management of both individual work and entire businesses.
This training program stems from nearly 30 years of experience in accounting, auditing, HR, payroll, and business consulting. Moore Polska has transformed its expert knowledge and experience into training projects emphasizing the practical transfer of knowledge to drive client and business growth. Recognizing the value of time, Akademia Moore Polska prioritizes dialogue, practical problem-solving, and participant case studies over lengthy lectures. Consultations with trainers are offered during and after classes, addressing the specific needs of each organization.
Akademia Moore Polska offers a set of topics divided into three packages, designed to enhance skills and operational efficiency. The goal is to optimize and improve daily work, increasing confidence and enabling better decision-making.
Moore Polska invites interested parties to contact them with any additional questions.
As a manager of an accounting firm with 250 employees, the author often gets asked how to find good accountants. A good accountant helps the company navigate regulations, meets deadlines, optimizes ta
As a manager of an accounting firm with 250 employees, the author often gets asked how to find good accountants. A good accountant helps the company navigate regulations, meets deadlines, optimizes taxes, and provides good reporting. While recruitment mishaps sometimes occur, they are quickly resolved. The author identifies two main paths to becoming a good accountant, both requiring a mentor. Theoretical knowledge alone is insufficient. A mentor provides experience, knowledge, and understands client expectations, guiding the mentee through various tasks and providing support.
The first path involves working in a specialized accounting firm, gaining experience in diverse tasks for multiple clients across various industries. This allows for rapid professional growth, especially when supplemented with training. These individuals often become chief accountants or financial directors due to their broad understanding of accounting principles and risk management. The second path involves working within the accounting department of a specific company, which provides in-depth industry knowledge but may limit exposure to a wide range of accounting challenges. Additional training can compensate for this.
Regardless of the path, a good accountant works efficiently and prioritizes tasks to meet management's needs. Soft skills, especially communication, are essential for building relationships with clients, managers, and colleagues. In conclusion, a career in accounting offers intellectual and communication challenges, leading to satisfaction and fulfillment, especially with the opportunity to become a certified auditor.
Development is a process of progressing to more complex and improved states, applicable to events, biological processes, and intellectual growth. Intellectual development involves assimilating new exp
Development is a process of progressing to more complex and improved states, applicable to events, biological processes, and intellectual growth. Intellectual development involves assimilating new experiences into existing frameworks and accommodating by modifying or creating new cognitive structures to adapt to the environment. Professional development is the continuous enhancement of skills and qualifications, seeking efficient solutions, optimizing processes, and gaining experience and knowledge, which should be shared.
The job market demands continuous development to remain competitive. "Lean management," a concept focused on improving efficiency and effectiveness, is crucial. A good leader fosters development by investing in their team, allowing employees to learn and grow, which ultimately benefits the entire team. This involves managing emotions, resolving conflicts, and balancing diverse personalities. Leaders provide autonomy, allowing employees to learn from mistakes and celebrate successes, fostering responsibility and knowledge.
Routine can be beneficial, providing stability and a foundation for further development. Mastering current responsibilities can drive openness to new tasks and information, encouraging further growth. Companies undergoing development should seek support, and Moore Polska offers relevant expertise and tools for success.
PFRON – Benefits of Employing People with Disabilities
2/21/2023
Employers with at least a 6% disability employment rate, state and local government units, cultural institutions, and organizations protecting historical monuments with a 6% rate, universities, school
Employers with at least a 6% disability employment rate, state and local government units, cultural institutions, and organizations protecting historical monuments with a 6% rate, universities, schools, and care facilities with a 2% rate, and non-profit organizations like social assistance homes, hospices, and rehabilitation centers may benefit from employing disabled individuals.
Employers meeting specific criteria, including having at least 25 employees and a 30% employment rate of severely disabled individuals or those with mental illness, intellectual disabilities, developmental disorders, epilepsy, or blindness, can reduce PFRON (State Fund for Rehabilitation of Disabled Persons) contributions through the purchase of their products or services.
Benefits for employers include refunds for workplace adaptation and equipment, wage subsidies, and training cost reimbursement. The amount of wage subsidies depends on the degree of disability, with increased support for employees with mental impairments. Recent legislation increases monthly subsidies, up to 2400 PLN for significantly disabled individuals. Employers must not have outstanding liabilities to PFRON and must register employees in the Fund's records.
Hiring disabled individuals not only reduces PFRON contributions but also promotes social responsibility, enhances the company's image, and fosters a loyal and effective workforce. Disabled employees are entitled to additional rights, including reduced working hours, additional leave, and paid time off for rehabilitation and medical treatment. The legal basis is the Act on Vocational and Social Rehabilitation and Employment of Persons with Disabilities.
Automatic enrollment in PPK - what do you need to know?
2/17/2023
In 2023, the first automatic re-enrollment ("autozapis") of employees into the Employee Capital Plans (PPK) occurs, as mandated by PPK law. By the end of February 2023, employers must inform employees
In 2023, the first automatic re-enrollment ("autozapis") of employees into the Employee Capital Plans (PPK) occurs, as mandated by PPK law. By the end of February 2023, employers must inform employees who previously opted out about the impending re-enrollment.
From April 1, 2023, employers must resume PPK contributions for employees aged 18-55 unless the employees submit a new opt-out declaration. Employees can submit this declaration starting March 1, 2023; previous declarations expire at the end of February. The declaration must be submitted before the March payroll to avoid PPK deductions.
This "autozapis" applies to all employers, regardless of their PPK agreement date or size, including micro-enterprises. It affects employees aged 18-55 who opted out of PPK by February 28, 2023. Those turning 55 before April 1, 2023, are not automatically re-enrolled but can join via application. Those 70 or older before April 1, 2023, cannot join or resume contributions.
Employers must calculate PPK contributions from March 1, 2023, but remit them between April 1-17, 2023. They must also re-register opt-out declarations and notify the financial institution of resumed contributions. If an employee opts out after contributions are calculated but before remittance, the employer must refund the employee and adjust the payroll.
The National e-Invoice System (KSeF) is an integrated IT system for issuing, storing, and sending structured invoices. Optional since 2022 alongside paper and electronic invoices, it will become manda
The National e-Invoice System (KSeF) is an integrated IT system for issuing, storing, and sending structured invoices. Optional since 2022 alongside paper and electronic invoices, it will become mandatory on July 1, 2024, according to the Ministry of Finance.
Active VAT taxpayers with a registered office or fixed place of business in Poland will be obligated to use KSeF. VAT-exempt entrepreneurs may also be required, but with a delayed implementation deadline of January 1, 2025.
KSeF primarily covers B2B sales transactions, excluding B2C documents like consumer invoices (replacing fiscal receipts with customer data but without a VAT number) and toll road tickets.
Businesses can prepare for KSeF using software provided by the Ministry of Finance or commercial alternatives. A test version is currently available on the Ministry's website.
Benefits of KSeF include faster VAT refunds (40 days instead of 60), standardized documentation, no need for taxpayers to store invoices, easier accounting, and exemption from sending JPK_FA files. KSeF also enables self-billing, allowing sellers to authorize buyers to issue invoices.
Failure to implement KSeF by July 1, 2024, may result in penalties, potentially up to 100% of the tax amount on the invoice, or 18.7% of the amount due if no tax is shown. However, the Ministry of Finance plans to postpone sanctions for errors until 2025.
KSeF aims to streamline invoicing, reducing the burden on businesses. Digitization offers benefits such as faster VAT refunds and eliminating the need for document storage. Early preparation is recommended to familiarize oneself with the system's functionalities and adapt to the changes.
Technological progress and the emergence of new services are increasing the frequency of licensing. Licensing involves the licensor transferring rights to intangible assets, specifically granting the
Technological progress and the emergence of new services are increasing the frequency of licensing. Licensing involves the licensor transferring rights to intangible assets, specifically granting the licensee the right to use software for further exploitation, constituting a service.
Tax authorities have interpreted licensing differently over the years. Initially, it was often seen as a continuous service, with the tax obligation arising based on payment schedules. However, in 2017, the Supreme Administrative Court ruled that a license, regardless of duration, is not a continuous service. Now, tax obligations are generally recognized based on standard principles. This is reinforced by individual interpretations, indicating an emerging consensus against classifying licenses as continuous services.
Under VAT law, the tax obligation arises upon service completion. If no invoice has been issued or partial payment made, the tax obligation and revenue recognition occur on the date of delivery of the object of the agreement. In the case of a license, it is the date of transfer, confirmed by both parties, often through a transfer protocol. If the license is conditional upon payment, the tax obligation arises upon receipt of that payment.
Regarding corporate income tax (CIT), revenue is generally recognized on the date of item delivery, asset disposal, or service performance, but no later than the date of invoice issuance or payment settlement. Thus, the revenue recognition moment is typically the date the license/software rights are transferred, confirmed by both parties.
Family foundation - new possibilities for asset protection
2/9/2023
Work on the law regarding family foundations is nearing completion, potentially enabling the establishment of the first family foundations in the first half of 2023. A family foundation manages a fami
Work on the law regarding family foundations is nearing completion, potentially enabling the establishment of the first family foundations in the first half of 2023. A family foundation manages a family business's assets, securing the wealth for designated individuals, usually family, and facilitating business succession. It aims to protect family business assets upon the owner's retirement or passing, ensure family harmony to prevent business disruption, ease succession, and prevent asset fragmentation, ensuring the continuity of the family enterprise.
Foundations can be established by multiple individuals, including non-relatives, and kinship between founder and beneficiary isn't required. Taxation is family-relationship based, often tax-neutral. PIT exemptions apply to benefits and assets acquired from the foundation by the founder, spouse, ancestors, descendants, siblings, stepchildren, stepparents, or stepmothers. Others pay 15% PIT. CIT exemption applies to revenue from specified business activities; otherwise, a 25% CIT rate applies. A 15% CIT is levied when distributing funds to beneficiaries upon the foundation's dissolution. Establishing and transferring assets to the foundation is exempt from CIT and PCC taxes.
Family foundations cannot utilize the Estonian CIT taxation model for companies in which they hold shares. Inheritances and donations received from the family foundation are subject to income tax on individuals and are not subject to inheritance or donation tax. It benefits those wanting to maintain a family business across generations, protect assets, and generate profits for beneficiaries' upkeep. Tax advantages exist for founders and beneficiaries, with PIT exemptions for close family members. Favorable CIT conditions are introduced, with specified business activities exempt. CIT is levied at 15% only upon distribution to beneficiaries.
Accounting Services - 5 Decisive Factors Affecting Their Price
2/1/2023
Many entrepreneurs question the necessity of engaging with accounting firms and how to choose one. Remote work, document digitization, and automation have blurred geographical limitations. Shared serv
Many entrepreneurs question the necessity of engaging with accounting firms and how to choose one. Remote work, document digitization, and automation have blurred geographical limitations. Shared service centers in Poland handle accounting for companies across the globe, proving that businesses of any size can be served remotely.
The price of accounting services depends on factors such as the type of business, accounting methods, document volume, business complexity, accounting system, and reporting requirements. Sole proprietorships using simplified accounting methods like a flat-rate tax are the simplest and cheapest, while corporations using full accounting books are more complex and expensive. The number and complexity of documents significantly affect the price, with high-volume, complex businesses incurring higher fees.
Business complexity, measured by the number of cost centers, reporting requirements, and the type of financial system used (SAP, Oracle, etc.), also drives costs. Automation and streamlined data transfer can reduce expenses, as human labor is the costliest. Ultimately, accounting firms sell their time, and clients can expect to pay from a few hundred to thousands of zlotys per month. While value-added services exist, clients often focus on hourly rates. Prestige, experience, customer service, and advice quality are also factored into the final price.
Decision-making is crucial in professional life, and effective leaders make sound choices to avoid negative consequences. Decision-making involves gathering and processing information to select a cour
Decision-making is crucial in professional life, and effective leaders make sound choices to avoid negative consequences. Decision-making involves gathering and processing information to select a course of action. This process can be challenging, demanding analytical skills to discard flawed options and make informed choices.
The difficulty in decision-making stems from the responsibility it entails, accepting both success and failure. Fear of failure, especially in business where one is accountable for the company's image, budget, and personnel, often hinders decision-making. Other factors include perfectionism, fear of disapproval, lack of self-confidence, a narrow perspective, and insufficient knowledge.
To make effective decisions, practice is essential. Experience, knowledge, and past situations provide valuable insights. Analyzing past decisions, both successful and unsuccessful, helps identify strengths and weaknesses. The process begins with defining the problem and setting clear goals. Considering different perspectives, analyzing the situation, seeking alternatives, identifying uncertainties, and anticipating future consequences are crucial.
Good leaders avoid emotional influences like fear or personal preferences. Their focus should be on the company's and team's well-being, guiding their decisions. While time constraints sometimes require quick decisions, the ability to make them can be developed. Overcoming the fear of responsibility is the first step.
I. Remote work can be performed fully or partially at a location indicated by the employee and agreed upon with the employer, including the employee's home address.
II. The agreemen
**Translation:**
I. Remote work can be performed fully or partially at a location indicated by the employee and agreed upon with the employer, including the employee's home address.
II. The agreement on remote work can occur: - When concluding the employment contract - During employment – at the employer's initiative or upon the employee's written request.
III. The employer must consider the remote work request of, among others: - Pregnant employees - Employees who are parents of a child with a disability certificate or a certificate of moderate or severe disability - Employees raising a child up to 4 years old - Employees caring for another immediate family member or person in the same household with a disability certificate or a certificate of severe disability.
IV. Remote work rules are defined: - In an agreement with trade unions - In regulations after consultation with employee representatives (if there are no trade unions) - In an agreement with the employee if there is no trade union agreement or regulations.
V. The agreement or regulations should define: - Groups of employees eligible for remote work - Rules for covering costs - Rules for determining the cash equivalent or lump sum for remote work - Communication methods between employer and employee, including attendance confirmation - Rules for monitoring work performance - Rules for occupational health and safety inspections - Rules for information security, including personal data protection - Rules for installing, inventorying, maintaining, updating software, and servicing work tools.
VI. The employer must: - Provide materials and work tools - Provide installation, service, maintenance, or cover related costs, as well as electricity and telecommunications costs - Cover other costs related to remote work if specified in the agreement or regulations - Provide training and technical assistance.
VII. Cash Equivalent or Lump Sum: - If the employer doesn't provide materials and tools, the employee is entitled to a cash equivalent - The obligation to cover costs or pay an equivalent can be replaced by a lump sum - The cash equivalent or lump sum should consider material and tool consumption standards, market prices, electricity consumption standards, and telecommunication costs - The cash equivalent or lump sum is not considered income for tax purposes and is exempt from social security contributions.
VIII. The employer must assess the occupational risk of the remote worker.
IX. The employer can create a universal risk assessment for remote work positions.
X. Before commencing remote work, the employee must acknowledge the risk assessment and safe work practices in a statement and commit to following them.
XI. Allowing remote work depends on the employee submitting a confirmation that the remote workstation meets safe and hygienic conditions.
XII. Applications requiring written form can be submitted electronically.
XIII. Occasional remote work, upon the employee's request, is allowed for up to 24 days per calendar year.
**Summary:**
Remote work, agreed upon between employer and employee, can be performed at a location chosen by the employee, including their home. Certain employees, like pregnant workers or those caring for young children or disabled family members, have priority for remote work consideration. The rules are defined through agreements with trade unions or employee representatives, or directly with the employee. These rules must cover costs, communication, performance monitoring, safety, and IT aspects. Employers provide necessary materials, tools, and services, or compensate employees with a cash equivalent or a lump sum, exempt from income tax and social security contributions. A risk assessment of the remote workstation is mandatory, and employees must confirm their understanding of safety regulations. Occasional remote work is allowed for a maximum of 24 days annually. Applications requiring written form can be submitted electronically.
The amended Labor Code allows employers to conduct preventive alcohol testing of employees if it's necessary to protect the life, health, or property of employees or others. Employers decide if the te
The amended Labor Code allows employers to conduct preventive alcohol testing of employees if it's necessary to protect the life, health, or property of employees or others. Employers decide if the testing is justified and define its scope in collective agreements, work regulations, or announcements, specifying the affected employee groups, testing methods, device type, timing, and frequency. Employees must be informed at least two weeks before testing begins, and new hires must be informed before starting work.
Testing involves non-laboratory methods using calibrated devices to determine alcohol presence. An alcohol concentration of 0.1 to 0.25 mg/dm3 in exhaled air is considered being after alcohol use, exceeding 0.25 mg/dm3 indicates intoxication. Testing must respect employee dignity. Positive test results or suspicion of intoxication prevent an employee from working, with notification provided. Employees can request a separate test by law enforcement if they disagree with the results.
Information about testing and positive results can be stored for up to one year, or longer if it's evidence in legal proceedings involving the employer. Reporting to work intoxicated or consuming alcohol at work can lead to fines, disciplinary action, or termination. These regulations also apply to individuals working under civil law contracts and self-employed individuals.
Lean management originated in the 1940s, inspired by post-World War II Japanese automotive industry practices, particularly at Toyota. John Krafcik coined the term "lean production" in the late 1980s,
Lean management originated in the 1940s, inspired by post-World War II Japanese automotive industry practices, particularly at Toyota. John Krafcik coined the term "lean production" in the late 1980s, contrasting Toyota's production system with traditional mass production. Lean emphasizes eliminating waste ("muda"), synchronizing processes for "just-in-time" delivery, preventing errors ("poka-yoke"), and continuous improvement ("kaizen").
Lean thinking involves defining value, identifying the value stream, ensuring continuous flow, implementing a pull system (delivering services only when needed), and striving for excellence. This approach reduces costs, improves efficiency, and maximizes employee potential, ultimately enhancing competitiveness. Simulation games, like "Architeka," help employees understand and implement lean principles.
Moore Polska has embraced lean management to improve service delivery. Internal trainers use the "Architeka" game to educate employees about Lean Service, aiming to enhance process efficiency. Workshops have been conducted across Moore Polska's offices, training 120 employees. The company believes that lean management and a well-trained team lead to better client service. Modern organizations adopt lean principles to address challenges in a volatile business environment, as traditional methods are no longer sufficient. Moore Polska fosters this culture and positions itself as a partner that understands and utilizes processes effectively.
The concept of work-life balance arises from increasing conflicts between work and personal life. In today's dynamic world, it's often overlooked. People mistakenly believe that consistent hours equal
The concept of work-life balance arises from increasing conflicts between work and personal life. In today's dynamic world, it's often overlooked. People mistakenly believe that consistent hours equal balance, which is frequently an illusion. True harmony exists when we fully engage at work without dwelling on personal matters, and vice versa.
To nurture ourselves, grow, and enjoy life, time is crucial. Organizing it, dividing the day into personal and professional spheres, is key. Lists and schedules help categorize tasks, prioritizing the most important. Systematically addressing these tasks is vital. Self-control and responsibility boost motivation. Ideally, employers offer flexible yet consistent work hours, accommodating "owls" and "larks."
The article argues that work and life shouldn't be an "either/or" choice, but rather intertwined. Fulfillment at work positively impacts our mental state, leading to happiness and stability in both domains. It's about living purposefully in both spheres, focusing on enjoyable activities and finding joy in personal time, free from career thoughts. Rest and relaxation enable us to approach work with renewed energy.
Work-life balance means recognizing that partial focus hinders productivity, leading to dissatisfaction and exhaustion. This creates a cycle of overwork and stress. Ultimately, it's about aligning and balancing personal and professional life to maximize effectiveness in each. This minimizes conflicts, allowing us to fully dedicate ourselves to one sphere at a time.
Sometimes a simple conversation can turn into an argument. The words we use and the tone in which we speak influence how we are perceived. The sender of a message can inadvertently create communicatio
Sometimes a simple conversation can turn into an argument. The words we use and the tone in which we speak influence how we are perceived. The sender of a message can inadvertently create communication noise, leading to misunderstandings.
Encoding is the process of translating information into a message, using symbols that represent concepts and meanings, which can take the form of words or gestures. When encoding, the sender decides what information to convey, influenced by factors like age, gender, position, environment, culture, and lifestyle. These factors can cause the same information to be conveyed differently by different people.
To improve communication, one must learn to "read" people and understand their perspective. When encoding messages, senders should use symbols that are familiar to the target audience. Effective encoding involves conveying information clearly and simply, and anticipating and eliminating potential misunderstandings. A good leader doesn't make assumptions without knowing the details or speaking on topics they don't fully understand. They avoid assuming their understanding or style will be universally applicable. Instead, they understand their audience and tailor their messages accordingly.
To be understood, one must understand their own emotions and focus on "I" statements to express feelings and needs clearly, avoiding veiled problems. Careful consideration of what and how to say something is crucial, as is avoiding embellishment, digression, or rambling. Body language also encodes the message, indicating respect or disregard for the receiver.
Simple communication is essential in the workplace, but clarity and simplicity should not come at the expense of politeness. A good leader knows how to speak elegantly while ensuring their message is fully understood. Being misunderstood is detrimental, especially in business.
Estonian CIT is gaining popularity, but taxpayers still have doubts about its practical application. One such area is the mixed use of company cars by employees, which is subject to varying interpreta
Estonian CIT is gaining popularity, but taxpayers still have doubts about its practical application. One such area is the mixed use of company cars by employees, which is subject to varying interpretations by tax authorities and administrative courts. Currently, there isn't a unified legal precedent. Tax authorities often draw an analogy to hidden profits, suggesting that 50% of the expenses related to mixed-use cars should be treated as non-business expenses subject to CIT.
However, a ruling by the Provincial Administrative Court in Gdańsk offered a contrasting view, stating that companies under Estonian CIT don't need to pay tax on expenses from mixed-use cars, as long as the employee is not a shareholder. The court argued that without a specific law, there's no basis for taxation.
From January 1, 2023, an amendment to the CIT law clarifies this, stating that 50% of expenses related to cars not exclusively used for business purposes will be considered non-business expenses. While interpretation issues currently exist, the January 2023 amendment is expected to resolve them.
The economic situation forces employers to consider cost savings and market survival. While many see job cuts as the solution, this article argues against it. Layoffs offer immediate financial gains b
The economic situation forces employers to consider cost savings and market survival. While many see job cuts as the solution, this article argues against it. Layoffs offer immediate financial gains but incur significant hidden costs. Employees are the driving force of a company, contributing intellect, ideas, and crucial client relationships. Losing staff disrupts teams, creates knowledge gaps, and fosters uncertainty, leading to decreased morale and potential departures of remaining employees. Furthermore, layoffs damage the employer's reputation, deterring future candidates. Rehiring involves substantial costs in recruitment, training, and onboarding, which are lost when employees leave prematurely. Instead of layoffs, employers should explore alternatives such as temporary salary reductions, reduced working hours, job reassignments, flexible work arrangements, unpaid leave agreements, or suspending non-essential perks. Prudent cost management in administrative purchases and supplier renegotiations can also yield savings. Experienced and stable staff are invaluable during economic downturns, as they prevent recruitment costs and ensure business continuity when the economy recovers. Hasty decisions to reduce staff often lead to the irreversible loss of valuable employees.
The economic situation forces employers to consider cost savings and market survival. While many see job cuts as the solution, this article argues against it. Layoffs offer immediate financial gains but incur significant hidden costs. Employees are the driving force of a company, contributing intellect, ideas, and crucial client relationships. Losing staff disrupts teams, creates knowledge gaps, and fosters uncertainty, leading to decreased morale and potential departures of remaining employees. Furthermore, layoffs damage the employer's reputation, deterring future candidates. Rehiring involves substantial costs in recruitment, training, and onboarding, which are lost when employees leave prematurely. Instead of layoffs, employers should explore alternatives such as temporary salary reductions, reduced working hours, job reassignments, flexible work arrangements, unpaid leave agreements, or suspending non-essential perks. Prudent cost management in administrative purchases and supplier renegotiations can also yield savings. Experienced and stable staff are invaluable during economic downturns, as they prevent recruitment costs and ensure business continuity when the economy recovers. Hasty decisions to reduce staff often lead to the irreversible loss of valuable employees.
Suspension of the Statute of Limitations for Tax Liabilities and COVID-19
12/6/2022
**Tax Liability Statute of Limitations**
Under general principles derived from the Tax Ordinance, a tax liability becomes statute-barred after 5 years, counting from the end of the calendar year in w
**Tax Liability Statute of Limitations**
Under general principles derived from the Tax Ordinance, a tax liability becomes statute-barred after 5 years, counting from the end of the calendar year in which the tax payment deadline passed.
**COVID-19 Impact**
During the period of the epidemic threat or epidemic status declared due to COVID-19, pursuant to Article 15zzr(1) of the act on special solutions related to the prevention, counteracting, and combating of COVID-19, the running of deadlines stipulated by administrative law was supposed to be suspended. This provision entered into force on March 30, 2020, and was repealed on May 16, 2020.
**Interpretation Doubts**
The aforementioned provision caused significant interpretative doubts. It is unclear whether the phrase "administrative law" was intended to encompass tax law provisions. Consequently, by a decision of the Supreme Administrative Court (NSA) of October 11, 2022 (FSK 2545/21), this matter was referred for resolution by a 7-judge panel of the NSA.
The proper interpretation of these provisions is crucial for taxpayers, as it will determine when their tax liabilities become statute-barred.
It is also important to note that if a suspension of deadlines is recognized under tax regulations, it will be necessary to ascertain whether this suspension should apply solely to the benefit of taxpayers, thus considering the constitutional principle of protecting taxpayer rights.
**NSA 7-Judge Panel Ruling Summary**
On October 11, 2022, the Supreme Administrative Court decided to submit the following highly questionable issues to a 7-judge panel of the Supreme Administrative Court for resolution:
1. Do the provisions of "Tarcza 1.0" (Shield 1.0) also concern the suspension of the commencement and the running of deadlines stipulated by tax law provisions? 2. If the answer to the first question is affirmative, should these provisions be interpreted such that, due to the protective nature of the deadlines stated therein, stemming from Article 2 of the Constitution of the Republic of Poland, the suspension of the commencement and the running of these deadlines can only occur to the benefit of taxpayers?
The date for the session to decide on the ruling is currently awaited, followed by its publication.
For any additional questions, doubts, or interest in details regarding tax liability statute of limitations, please feel free to contact us.
COVID-19, statute of limitations, tax liability statute of limitations, tax liability
Contact us agnieszka.drozdz-wilk@moorepolska.pl
***
Under Polish law, tax liabilities generally become statute-barred after five years from the end of the calendar year in which the payment deadline passed. However, during the COVID-19 pandemic, a law (Tarcza 1.0) introduced a suspension of administrative law deadlines. This caused significant legal debate regarding whether tax law was included and, if so, whether the suspension should benefit taxpayers exclusively, aligning with constitutional protections. The Supreme Administrative Court referred these critical interpretive questions to a 7-judge panel for a definitive ruling. Taxpayers await this clarification to understand the precise timing of their tax liability expirations. The outcome will be crucial for tax compliance and rights protection.
Choosing the Estonian CIT for a company does not exempt it from applying transfer pricing regulations.
The Director of the National Tax Information (KIS) confirmed this in an individual interpretatio
Choosing the Estonian CIT for a company does not exempt it from applying transfer pricing regulations.
The Director of the National Tax Information (KIS) confirmed this in an individual interpretation dated July 1, 2022 (0111-KDIB2-1-4010-99-2022-1-PB). The company, which had opted for the Estonian CIT, questioned whether transfer pricing rules applied to them, believing the chapter on Estonian CIT in the CIT Act did not refer to them.
However, the KIS Director clarified that while the Estonian CIT exempts companies from certain CIT Act regulations, it does not affect transfer pricing rules. No provision suggests that companies using the Estonian CIT are exempt from transfer pricing obligations.
This position is further supported by tax explanations in the Ministry of Finance's Guide to the Estonian CIT (December 23, 2021). Section 1.4 of the guide states that the CIT Act's provisions do not exclude the application of all separate tax obligations, specifically mentioning transfer pricing and withholding tax. Therefore, companies under the Estonian CIT regime must still comply with these regulations.
In summary, companies that choose the Estonian CIT regime remain obligated to adhere to transfer pricing rules and fulfill all related tax duties, including preparing transfer pricing documentation when required by law.
Linguist Katarzyna Kłosińska distinguishes between "hearing" (passive reception of sounds) and "listening" (active engagement and reflection). The text emphasizes that true listening goes beyond words
Linguist Katarzyna Kłosińska distinguishes between "hearing" (passive reception of sounds) and "listening" (active engagement and reflection). The text emphasizes that true listening goes beyond words, involving observation of posture, gestures, and emotional regulation, as highlighted by Malcolm Forbes as the foundation of conversation. Conflicts often arise from a lack of deep listening, whereas understanding another's perspective can foster easy agreement. This empathetic listening is not innate but a learned skill crucial for effective communication in both personal and professional life.
Good leaders understand that clear communication, achieved through mastering listening, is vital for team success. They recognize that making others feel heard increases the likelihood of their own messages being understood, leading to greater clarity in directives and understanding of employee needs. Effective leaders avoid pretending to listen, listening solely to defend their own position, or filtering out information. Instead, they practice empathetic listening to fully grasp the speaker's intentions, personality, and context, becoming better mentors and fostering strong business relationships.
The Non-financial Disclosure Reporting Directive (NFRD) was an early step towards non-financial reporting, requiring large public interest entities with over 500 employees to disclose information on e
The Non-financial Disclosure Reporting Directive (NFRD) was an early step towards non-financial reporting, requiring large public interest entities with over 500 employees to disclose information on environmental, social, and employee matters, human rights, anti-corruption, and bribery. This directive allowed for significant interpretation. In Poland, the NFRD was implemented through an amendment to the Accounting Act in 2016, affecting entities with over 500 employees and meeting specific asset or revenue thresholds. The first reporting year under these requirements in Poland was 2017.
Due to a lack of standardized rules and comparability issues with NFRD reports, the European Commission introduced the Corporate Sustainability Reporting Directive (CSRD) in April 2021. The CSRD mandates several key reporting obligations for companies. These include conducting a materiality assessment based on a two-way materiality principle, preparing reports according to the unified European Sustainability Reporting Standards (ESRS), analyzing and including information on the company's alignment with the EU Taxonomy, presenting reports in XHTML format with proper tagging, and undergoing an audit by an independent, authorized entity. The CSRD aims to cover a broader range of entities than the NFRD. The development of the ESRS is being led by the EFRAG Project Task Force, with the standards comprising 13 documents covering general principles, cross-cutting indicators, environmental, social and governance matters. Auditors and other certified assurance service providers will verify these reports.
The Non-financial Disclosure Reporting Directive (NFRD) was an initial European Union directive requiring large public interest entities to report on non-financial matters like environmental, social, and employee issues, human rights, and corruption. While it laid the groundwork for such reporting, it offered considerable room for interpretation. Poland implemented NFRD through its Accounting Act, impacting companies exceeding specific employee and financial thresholds. The subsequent Corporate Sustainability Reporting Directive (CSRD), introduced due to the NFRD's limitations in standardization and comparability, significantly expands these requirements. The CSRD mandates companies to conduct materiality assessments, report using the European Sustainability Reporting Standards (ESRS), detail their alignment with the EU Taxonomy, use a standardized XHTML format, and have their reports audited. The ESRS, developed by EFRAG, cover a comprehensive range of environmental, social, and governance (ESG) topics. The CSRD aims for broader coverage and more rigorous, comparable reporting to enhance transparency in sustainability matters.
The Director of the National Revenue Information confirmed that a company that did not meet all the conditions for choosing Estonian CIT on the day of submitting the ZAW-RD notification did not effect
The Director of the National Revenue Information confirmed that a company that did not meet all the conditions for choosing Estonian CIT on the day of submitting the ZAW-RD notification did not effectively choose this form of taxation. Consequently, the company does not have to wait 3 years to resubmit the relevant notification.
This article highlights an individual interpretation from October 12, 2022, issued by the Director of the National Revenue Information (0111-KDIB1-1.4010.482.2022.1.AW), which addresses this specific issue.
The company stated it submitted the ZAW-RD notification to opt for the lump-sum corporate income tax regime, effective from April 1, 2022. Despite prior analysis of the eligibility criteria, professional advice revealed that not all conditions were met. The company is now working to adjust its business model to qualify for Estonian CIT.
The company questioned whether its ZAW-RD notification had any legal effect and if it was now free to resubmit the notification before the three-year penalty period expired.
The Director of KIS clarified that a company can effectively resubmit the ZAW-RD notification before the three-year period, which is a penalty for those who lose this tax option. Crucially, if a company did not meet all the necessary prerequisites for Estonian CIT at the time of submission or the intended start date, its notification was not effective, and thus it never acquired the right to this tax regime. Therefore, it can resubmit the ZAW-RD notification before the three-year sanction period has elapsed.
The key takeaway is that a company failing to meet the conditions for Estonian CIT when filing the ZAW-RD notification or on the intended start date does not lose the right to this tax regime because it never acquired it in the first place. This allows for the resubmission of the ZAW-RD notification before the three-year penalty period.
This article, following a previous one on ESG, discusses whether ESG (Environmental, Social, and Governance) represents an opportunity or a threat for financial market participants. It highlights that
이 글은 이전 ESG 관련 기사에 이어, ESG(환경, 사회, 지배구조)가 금융 시장 참여자들에게 기회인지 혹은 위협인지를 논합니다. ESG의 도입은 중대한 변화를 가져올 것이며, 관련 정보를 공개해야 하는 기업들은 새로운 역량과 도구를 갖춰야만 합니다. 또한 감사위원회, 재무부, 금융감독원과 같은 규제 기관 역시 효과적인 감독을 위해 ESG 전문 인력을
This article, following a previous one on ESG, discusses whether ESG (Environmental, Social, and Governance) represents an opportunity or a threat for financial market participants. It highlights that ESG implementation will bring significant changes, requiring reporting entities to acquire new competencies and tools. Audit committees and regulatory bodies like the Ministry of Finance and the Polish Financial Supervision Authority will also need ESG-trained personnel for effective oversight.
Globally, 75% of companies are reportedly unprepared for comprehensive ESG adoption. However, customer surveys indicate strong support for sustainable practices, with many willing to pay more for products from environmentally conscious companies. Ignoring ESG principles is deemed unprofitable, hindering growth and leading to stagnation for unadaptable organizations. Younger generations entering the workforce are particularly attuned to environmental issues, offering significant potential for driving ESG initiatives.
The financial market is responding to these shifts, with specialized companies like EcoVadis emerging to measure sustainability readiness through multi-dimensional ratings. Banks play a crucial role as capital providers, facing demands to collect, aggregate, and analyze sustainability data. This will likely lead to preferential financing for companies with strong ESG performance, particularly in green industries and those pursuing decarbonization. Ultimately, ESG is presented not as a threat but as a long-term opportunity for businesses, regulators, and citizens. Europe is investing heavily in transforming its economy, with substantial EU funds and financial sector capital allocated for this purpose. Adapting to ESG requirements is crucial for success, with unpreparedness posing regulatory and reputational risks.
이 글은 이전 ESG 관련 기사에 이어, ESG(환경, 사회, 지배구조)가 금융 시장 참여자들에게 기회인지 혹은 위협인지를 논합니다. ESG의 도입은 중대한 변화를 가져올 것이며, 관련 정보를 공개해야 하는 기업들은 새로운 역량과 도구를 갖춰야만 합니다. 또한 감사위원회, 재무부, 금융감독원과 같은 규제 기관 역시 효과적인 감독을 위해 ESG 전문 인력을 필요로 하게 될 것입니다.
전 세계 기업의 75%는 아직 ESG를 전면적으로 도입할 준비가 되어있지 않은 것으로 알려졌습니다. 하지만 소비자 설문조사에 따르면, 대중은 지속가능한 경영 방식을 강력히 지지하며, 환경을 생각하는 기업의 제품에 더 높은 비용을 지불할 의사가 있는 것으로 나타났습니다. ESG 원칙을 외면하는 것은 수익성 악화로 이어질 뿐만 아니라, 변화에 적응하지 못하는 기업의 성장을 저해하고 결국 정체를 초래할 것입니다. 특히 사회에 진출하는 젊은 세대는 환경 문제에 매우 민감하여, 이들이 ESG 경영을 이끌어갈 중요한 동력이 될 수 있습니다.
금융 시장도 이러한 변화에 대응하고 있습니다. 기업의 지속가능성 준비 수준을 다각도로 평가하는 전문 기관들이 등장하고 있으며, 자본을 공급하는 은행은 기업의 지속가능성 데이터를 수집, 통합, 분석해야 하는 중요한 역할을 맡게 됩니다. 이에 따라 ESG 성과가 우수한 기업, 특히 친환경 산업이나 탈탄소화를 추진하는 기업은 금융 지원에서 우대를 받게 될 것입니다.
결론적으로 ESG는 위협이 아니라, 기업, 규제 당국, 그리고 시민 모두에게 장기적인 기회입니다. 유럽은 경제 체질 개선을 위해 막대한 투자를 하고 있으며, 유럽연합(EU)의 기금과 금융권 자본이 이 목적을 위해 투입되고 있습니다. 이처럼 ESG 요구사항에 적응하는 것은 성공의 필수 조건이며, 준비가 미흡할 경우 규제 및 기업 평판에 대한 리스크에 직면하게 될 것입니다.
Banks on the defensive. Courts rule that borrowers do not have to repay franc loans when the bank set the franc exchange rate.
Polish courts are increasingly issuing rulings favorable to individuals
Banks on the defensive. Courts rule that borrowers do not have to repay franc loans when the bank set the franc exchange rate.
Polish courts are increasingly issuing rulings favorable to individuals who took out Swiss franc loans. The reason? Banks unfairly set franc exchange rates for repayment purposes. According to the courts, such agreements are invalid. As a result, borrowers can demand the refund of paid installments and do not have to pay banks additional remuneration for using the granted credit.
In one such case, the District Court for Warsaw-Śródmieście asked the Court of Justice of the European Union (CJEU) whether, if an agreement made the repayment of a franc loan dependent on the bank's consent, the court could independently remove such a provision. Banks argued that this would render the rest of the agreement valid, meaning the borrower could continue repaying the loan, but at official exchange rates set by the National Bank of Poland.
The CJEU has taken a clear stance, maintaining its pro-consumer approach in franc loan cases. It ruled that courts cannot remove clauses from loan agreements that require the bank's consent for repayment at unfair exchange rates and simultaneously automatically introduce an obligation to repay at official NBP exchange rates. Such a solution would impose no penalty on banks for using unfair clauses and would excessively interfere with the contract's terms.
Furthermore, the CJEU established that the statute of limitations for consumers' financial claims against banks should be calculated from the moment the consumer becomes aware that the agreement or its specific terms are unfair.
However, some issues remain unresolved. One such issue is the banks' right to remuneration for borrowers' use of borrowed money. While courts mostly deny banks this additional remuneration, the CJEU is currently considering this matter, with a ruling expected in 2023.
Banks are facing increased pressure from legal challenges to Swiss franc loans due to unfair exchange rate practices. Polish courts are siding with borrowers, often declaring loan agreements invalid. The CJEU has reinforced this pro-consumer stance, ruling that unfair clauses cannot be simply removed and replaced with official exchange rates without penalizing the banks. The calculation of the statute of limitations for claims has also been clarified to begin when the consumer realizes the unfairness of the terms. A key outstanding issue concerns banks' entitlement to remuneration for the use of funds when loans are deemed invalid, a matter the CJEU is currently reviewing.
The 21st century has presented significant financial challenges, including the pandemic, disrupted supply chains, the conflict in Ukraine, and rampant inflation. Alongside these, profound changes in c
The 21st century has presented significant financial challenges, including the pandemic, disrupted supply chains, the conflict in Ukraine, and rampant inflation. Alongside these, profound changes in corporate reporting are occurring.
The business world is increasingly prioritizing non-financial aspects, particularly sustainability, encapsulated by ESG (Environment, Society, and Governance). While financial reporting has a long history, non-financial reporting is relatively new, indicating substantial room for development. The European Union is driving a significant shift, treating ESG reporting as a "tsunami" in corporate reporting systems, with the aim of aligning it with financial reporting. Poland, like other member states, is mandated to implement these changes, with new directives shaping future sustainable reporting.
In Poland, ESG reporting will be phased in, initially focusing on public trust entities, specifically those listed on the Warsaw Stock Exchange employing over 500 staff. Eventually, it will encompass all public trust entities and those operating outside the EU. Standards are being developed by EFRAG.
The digital format is the intended publication method for ESG reports, to be included alongside financial statements and management reports. The initial publication period under these sustainability requirements is planned for January 1, 2024, with audits occurring in 2025 for the 2024 period. Similar to financial data, ESG reports will be subject to auditor examination, receiving an opinion with the same level of assurance as financial statements. Ethical and independence principles will apply to both financial and non-financial data.
ESG attestation services will be based on Standard 3000, akin to ESEF. Professionals will require training and specialization. The European Commission is expected to issue guidelines by January 1, 2026. Internal auditors may also gain approval powers for ESG reporting. Currently, Poland faces "greenwashing," where companies misuse ESG reports for marketing. The future impact of ESG remains to be seen, but expectations are high.
According to amendments to the Personal Income Tax and Corporate Income Tax laws effective January 1, 2022, depreciation is no longer allowed for residential buildings (including elevators), separate
According to amendments to the Personal Income Tax and Corporate Income Tax laws effective January 1, 2022, depreciation is no longer allowed for residential buildings (including elevators), separate residential properties, cooperative ownership rights to apartments, and rights to single-family homes in housing cooperatives, if used for business or leased. However, a transitional provision allows taxpayers to deduct depreciation expenses for these assets if they were acquired or manufactured before January 1, 2022, but only until December 31, 2022.
A residential building purchased in January 2022 cannot be depreciated. If acquired in 2021, depreciation can be deducted until the end of 2022, but not after. This change has raised concerns about violating the principle of protecting acquired rights. Taxpayers argue for continued depreciation until full amortization, based on constitutional principles. Tax authorities disagree, deeming this position incorrect in individual interpretations.
Administrative courts align with tax authorities. A non-final ruling by the Provincial Administrative Court in Łódź (September 20, 2022) stated that an individual tax interpretation procedure cannot be used to challenge the compliance of tax regulations with the Constitution. Tax authorities lack the jurisdiction to assess constitutional compliance. Therefore, the court agreed that depreciation of residential properties purchased before January 1, 2022, can only be deducted until December 31, 2022, not until fully amortized. Neither the tax authority nor the Administrative Court can invalidate a law due to potential constitutional violations. This stance confirms the impossibility of disregarding the legal provision based on potential constitutional infringements.
Following the outbreak of war in Ukraine, many Ukrainian citizens have emigrated to Poland. A significant number of these individuals are approaching or have already exceeded the 183-day period of sta
Following the outbreak of war in Ukraine, many Ukrainian citizens have emigrated to Poland. A significant number of these individuals are approaching or have already exceeded the 183-day period of stay in Poland. Some refugees continue to work for their previous Ukrainian employers. This raises the question of whether these individuals are obligated to pay Polish income tax.
The Polish Personal Income Tax (PIT) Act, specifically Article 3(1) and 1a(2), states that individuals residing in Poland are subject to unlimited tax liability on all their income, regardless of where it was earned. Residence is established if a person stays in Poland for over 183 days in a tax year. However, these provisions are subject to double taxation avoidance treaties.
According to Article 15(2) of the double taxation treaty with Ukraine, remuneration earned by a resident of one contracting state from employment exercised in another contracting state is taxable only in the first state if: (a) the recipient stays in the second state for no more than 183 days in a calendar year, (b) the remuneration is paid by an employer not resident in the second state, and (c) the remuneration is not borne by a permanent establishment of the employer in the second state.
Therefore, if a Ukrainian citizen stays in Poland for over 183 days and earns income from employment for a Ukrainian employer not having a seat in Poland, this income is fully taxable in Poland. While some experts suggest that the 183-day period should be suspended due to the war preventing return to Ukraine, this interpretation lacks legal basis and could have adverse consequences.
According to Article 44(1a)(1) and (3a) of the PIT Act, taxpayers receiving income from abroad without an intermediary are obliged to pay advance tax payments themselves. These payments are due by the 20th of the month following the income receipt, applying the lowest tax rate. The entire income earned during the stay in Poland must be declared.
In essence, if a Ukrainian citizen has resided in Poland for over 183 days and works remotely for a Ukrainian employer, they are liable for Polish income tax on that income. They must proactively pay advance tax payments and declare all income earned in Poland.
In summary, Ukrainian citizens residing in Poland for over 183 days and working for Ukrainian employers are subject to Polish income tax on their earnings, according to Polish law and the double taxation treaty with Ukraine. While the ongoing conflict may impede return to Ukraine, a strict interpretation of the 183-day rule means that income earned during this period in Poland is taxable locally. Taxpayers are obligated to make advance tax payments and declare all income received in Poland. Failure to do so may result in adverse consequences.
There will be no simplified residence permits for Ukrainian citizens.
Ukrainian citizens arriving in Poland due to the war and intending to stay will not need to apply for temporary residence permits
There will be no simplified residence permits for Ukrainian citizens.
Ukrainian citizens arriving in Poland due to the war and intending to stay will not need to apply for temporary residence permits under a simplified procedure. A draft amendment to the special act on aid for Ukrainian citizens, concerning their stay in Poland due to the armed conflict, is planned to be submitted to parliament.
Current regulations allowed Ukrainians to apply for temporary residence permits, with applications expected by the end of November. These permits would have had a simplified procedure compared to those issued under general immigration laws. However, the Ministry of Interior and Administration has decided to abandon this solution.
The decision stems from the immense influx of Ukrainian citizens into Poland since February 24, 2022. As of September 28, 2022, approximately 1.3 million PESEL numbers were issued to Ukrainians. The ministry explained that even with maximum procedural simplifications and automation, provincial governors would be unable to efficiently process the vast number of applications for simplified temporary residence permits. The increasing number of applications from other foreigners, including Ukrainians not covered by the special act, also presents a significant challenge for provincial offices.
The Diia.pl digital identity document, accessible via a mobile app after obtaining a PESEL number and activating a trusted profile, is recognized within the EU. It allows holders, along with a travel document, to cross Schengen borders multiple times and stay in Schengen states. The proposed amendment will legally define Diia.pl as a residence document under the Schengen Borders Code.
Further changes include extending the validity of national visas, Schengen visas issued by Polish or other Schengen authorities, and temporary residence permits for Ukrainians until August 24, 2023, if their permitted stay was set to expire from February 24, 2022. Currently, these documents are automatically extended until December 31, 2022.
Ukrainians conducting business in Poland will also benefit from an extension until August 24, 2023, for exemptions from specific requirements related to business permits. Legally residing Ukrainians can conduct business on equal terms with Poles and are currently exempt from demonstrating income, employing Polish citizens, or proving future financial capacity, unlike other foreigners applying for business residence permits.
A new provision in the draft amendment introduces the possibility of granting a one-year temporary residence permit to Ukrainians who do not meet standard requirements due to their declared purpose of stay or circumstances that do not justify a stay longer than three months, or if grounds for refusal exist other than those specified in the law.
The amendment will also repeal certain provisions of the COVID-19 act related to the automatic extension of visa and residence permit validity. This will impact foreigners, primarily non-Ukrainians, whose documents extended due to the pandemic have expired. They must urgently apply for legal status in Poland.
Summary:
Poland is discontinuing its plan for simplified temporary residence permits for Ukrainian citizens due to the overwhelming number of applications. The government is extending the validity of existing visas and residence permits for Ukrainians until August 24, 2023. The digital Diia.pl document will be legally recognized as a residence permit for travel within the Schengen area. Ukrainians engaged in business will retain exemptions from certain permit requirements until August 24, 2023. A new provision allows for one-year temporary residence permits for Ukrainians who don't meet standard criteria. The changes also repeal COVID-19-related extensions for other foreigners, who are urged to legalize their stay promptly.
Recognition of an agreement as an invoice – ECJ ruling
11/3/2022
On September 29, 2022, the Court of Justice of the European Union (CJEU) issued a controversial ruling in the Raiffeisen Leasing v. Republic of Slovenia case (C-235/21). The case concerned whether a w
On September 29, 2022, the Court of Justice of the European Union (CJEU) issued a controversial ruling in the Raiffeisen Leasing v. Republic of Slovenia case (C-235/21). The case concerned whether a written agreement, in the absence of a formal invoice, could be considered an invoice under Article 203 of Directive 2006/112/EC.
The CJEU ruled that a disposal and sale-and-leaseback agreement, if it contains the VAT rate and all information necessary for tax authorities to determine if the conditions for VAT deduction are met, can be treated as an invoice. This ruling is controversial because it suggests a potentially informal approach to VAT invoicing requirements. Experts worry this could lead to practical issues, such as businesses inadvertently issuing "empty invoices" if a subsequent formal invoice is issued, potentially leading to double VAT payment and criminal liability.
The ruling also raises concerns for buyers regarding VAT deductibility when agreements might be treated as invoices. Furthermore, it creates ambiguity on how to correct such "invoices" and how they would integrate with the upcoming Krajowy System e-Faktur (National e-Invoice System) in Poland. While Polish tax practice has sometimes diverged from CJEU rulings, businesses are advised to assess their agreements carefully.
This ruling allows a written agreement to be considered an invoice if it includes the VAT rate and sufficient details for tax authorities to verify VAT deduction rights. This departure from traditional invoicing practices is seen as potentially problematic and could create uncertainty for businesses and tax authorities regarding VAT obligations, invoice correction, and system integration. The controversy stems from the perceived over-informal approach and the potential for misinterpretation, leading to significant practical challenges and legal ambiguities for taxpayers and tax administrations alike.
ESG – Unnecessary Requirement or Opportunity for New Possibilities?
10/27/2022
Implementing ESG concept standards is a long-term process that yields benefits across multiple levels. Modern companies focused on continuous development and professional service quality readily adopt
Implementing ESG concept standards is a long-term process that yields benefits across multiple levels. Modern companies focused on continuous development and professional service quality readily adopt new, often mandatory, standards into their corporate policy, viewing them as valuable rather than burdensome necessities.
What is ESG? Modern businesses increasingly integrate sustainable and responsible development solutions. Pressure from regulators, investors, lenders, employees, and consumers significantly influences their actions. ESG, an evolution from CSR (Corporate Social Responsibility), incorporates financial factors, focusing on environmental, social, and corporate governance. While CSR primarily addressed sustainable development, it often served as a marketing strategy, lacking the comprehensive value that ESG now provides.
The ESG acronym stands for Environmental, Social, and Corporate Governance. Companies prioritizing customer care, partnerships, sustainability, and responsible business should focus on all key ESG criteria.
The three pillars of ESG:
Environmental: This pillar encompasses actions supporting environmental protection and climate change mitigation, including energy efficiency, waste management, emissions reduction, renewable energy investment, and adherence to environmental regulations.
Social: This pillar covers social responsibility and human rights, addressing internal and external company matters. Internally, it includes equal pay, employee rights, human rights respect, promoting diversity and inclusion, data security, and transparent communication. Externally, it involves investing in employee development through training and volunteering, knowledge sharing, and nurturing customer relationships.
Corporate Governance: This pillar includes board structure, shareholder rights, executive compensation, tax transparency, and anti-corruption measures. These elements are crucial for building trust with long-term investors and business partners.
ESG's impact on employee motivation and recruitment: Today's employees seek reliable employers who acknowledge global changes. A well-planned ESG strategy positively impacts current and future employees, reducing turnover and boosting engagement by fostering a sense of purpose and identification with company values. Companies investing in employee development are perceived as authentic and aware of their human capital's potential, actively listening to and implementing employee ideas.
In the competitive talent market, ESG is a powerful recruitment tool. Millennials and Gen Z, in particular, prioritize environmental concerns, equality, pay transparency, and non-discrimination. Studies show ESG-adopting firms experience twice the employment growth of those that do not prioritize it. Fulfilling ESG objectives related to equality, governance, community support, and environmental protection significantly influences job choices and candidate applications.
Moore Polska integrates all ESG strategy pillars into its company policy.
ESG – A Path to Success: Building a business strategy around ESG should be viewed not as an obligation but as a long-term path to success in company development, talent recruitment, securing financing, and enhancing the company's reputation among clients and partners. Embracing ESG values allows medium-sized enterprises to be perceived as responsible, engaged, and attractive employers and business partners in a rapidly changing world.
Trust is more than a dictionary definition; it's an evolving process, not just believing someone's words or skills. In business, this is "trust management." Success hinges on trust, making it vital fo
Trust is more than a dictionary definition; it's an evolving process, not just believing someone's words or skills. In business, this is "trust management." Success hinges on trust, making it vital for leaders to build teams on trustworthy individuals who trust each other. Granting trust often leads to greater employee engagement, while constant control and visible doubt can demotivate teams.
Effective trust management involves recognizing risks and strategically building trust, which doesn't mean neglecting a team. A good leader stays informed and fosters an environment where employees feel comfortable asking for help. Credibility starts at the top; leaders must earn their team's trust by being reliable experts with a human touch, fostering cohesion and job satisfaction.
Stephen Covey emphasized that trust, or its absence, significantly impacts business, industry, education, and administration outcomes. Leaders must empower their subordinates to avoid stagnation, and trusting one's team signifies psychological maturity. This maturity allows for setting higher goals and shared responsibility.
Business is fundamentally about relationships built on trust, dialogue, and empathy, not just data. Trust means being both sincere and professional. Dale Carnegie advised respecting others' views and offering genuine praise to inspire willingness, advocating for authority based on trust rather than tyranny. Building such trust is key to finding reliable business partners.
Trust is foundational for successful leadership and business operations. Leaders who cultivate trust foster higher employee engagement, productivity, and overall satisfaction. This approach, rooted in credibility, expertise, and open communication, creates a more cohesive and effective team. It's a strategic imperative for achieving organizational goals and building lasting relationships. Trust empowers individuals and teams, leading to greater autonomy and a willingness to take on challenges, ultimately driving success.
Starting January 1, 2023, a new version of the PIT-2 form will be implemented in Poland, significantly expanding its scope and functionality. Previously, only employees on standard employment contract
Starting January 1, 2023, a new version of the PIT-2 form will be implemented in Poland, significantly expanding its scope and functionality. Previously, only employees on standard employment contracts submitted PIT-2 declarations, primarily to inform about other income sources that might affect their tax-reducing amount. This new PIT-2 (version 9) aligns with changes introduced by the "Polski Ład" and "Polski Ład 2.0" legislation.
The updated form will be accessible not only to employees but also to individuals earning income from other sources, such as civil law contracts (umowa zlecenia, umowa o dzieło), management contracts, and board positions. A key change is the ability to divide the tax-reducing amount across multiple income sources, up to three, proportionally. This benefits lower-income earners who previously couldn't fully utilize this reduction. Furthermore, the new PIT-2 consolidates several previously separate declarations into a single document. These include statements regarding joint taxation with a spouse, preferential tax treatment for single parents, increased tax-deductible costs, specific tax reliefs (for returnees, families with 4+ children, working seniors), waiving certain reliefs or 50% deductible costs, and requesting no tax advance payments if the tax-free allowance isn't exceeded. Previously submitted PIT-2 forms remain valid.
New regulations for employing foreigners in Poland are expected, with some changes potentially taking effect as early as October. A new act will replace existing provisions concerning foreign employme
New regulations for employing foreigners in Poland are expected, with some changes potentially taking effect as early as October. A new act will replace existing provisions concerning foreign employment, aiming to streamline procedures, reduce abuse, and fully digitize processes. Key improvements include the elimination of the "labor market test," which previously required employers to prove no local candidates were available. This will simplify and expedite legalization by several weeks. Furthermore, all procedures for obtaining work permits and declarations of work assignment will be digitized, accessible solely through the praca.gov.pl portal. Employers will also be able to modify existing work permits instead of obtaining new ones when a foreigner's job conditions change.
Penalties for illegal employment will be revised, with fines calculated proportionally to the number of illegally employed foreigners, starting at a minimum of 500 PLN per person. This aims to make penalties more impactful for employers hiring multiple undocumented workers. However, some changes may increase costs for employers, such as a minimum employment requirement of one-quarter of a full-time position or 10 hours weekly for work permits. Annual permits will be issued for businesses operating for less than a year, foreigners working part-time (up to half-time or 20 hours weekly), or those employed under civil law contracts. The Council of Ministers may also introduce employment quotas through separate regulations.
Crucially, Russia will be removed from the list of countries whose citizens can work under simplified procedures by October. Russian citizens will now require work permits, which can take months to obtain, unlike the current swift declaration process.
Moore Polska offers assistance with the legalization of stay and work for foreigners in Poland.
Payroll Calculation Review in the Context of the Polish Deal
10/14/2022
Payroll accuracy is a critical concern for employees, especially following the implementation of "Polski Ład," a significant tax reform. The year 2022 saw numerous, often complex, legislative changes
Payroll accuracy is a critical concern for employees, especially following the implementation of "Polski Ład," a significant tax reform. The year 2022 saw numerous, often complex, legislative changes impacting payroll calculations, introduced amidst uncertainty and further modified by subsequent regulations and amendments.
Key changes included the introduction and subsequent withdrawal of a middle-class tax relief, the removal of deductions for health insurance contributions from taxes, and the postponement and eventual discontinuation of "advance tax deferral" (roling zaliczek). New tax exemptions for returning workers, seniors, and large families were introduced alongside a revised tax scale and a new monthly tax deduction. Health insurance obligations were extended to individuals appointed to positions, and changes were made to lump-sum allowances for company car private use, the mandatory application of tax reductions, and minimum wage rates.
These revolutionary and dynamic changes necessitated a thorough review of payroll calculations to ensure accuracy and prevent errors. Correctly calculated payroll and the elimination of potential mistakes are vital for building employee trust and enhancing a company's image. Companies struggling with payroll processing after "Polski Ład" are encouraged to seek professional verification services.
Transfer Pricing Documentation - Important Deadlines!
10/4/2022
**Translation:**
Entrepreneurs whose tax year is identical to the calendar year are obliged to prepare local transfer pricing documentation, submit a declaration, and the TPR-C information by Decembe
**Translation:**
Entrepreneurs whose tax year is identical to the calendar year are obliged to prepare local transfer pricing documentation, submit a declaration, and the TPR-C information by December 31, 2022. It is also worth noting that group transfer pricing documentation must be prepared by March 31, 2023.
For entities whose tax year differs from the calendar year, the deadline for preparing local transfer pricing documentation, submitting a declaration, and the TPR-C information has been extended:
* until September 30, 2022, if the deadline for submitting the above documents falls between January 1, 2022, and June 30, 2022, * by 3 months if the original deadline resulting from the act falls between July 1, 2022, and December 31, 2022.
The deadline for preparing group transfer pricing documentation has also been extended. It expires at the end of the third month from the day following the expiry of the deadline for fulfilling the above-mentioned obligations.
Transfer Pricing Documentation – Why the Changes in Deadlines?
The Ministry of Finance informs that the main goal of extending these deadlines is to facilitate the timely fulfillment of obligations by taxpayers.
We also encourage you to read the article "Changes in Transfer Pricing Documentation," which is available here.
We cordially invite you to contact us. We offer assistance in preparing transfer pricing documentation:
We will help identify homogeneous transactions and breaches of the documentation threshold for transactions with related entities and direct tax haven transactions. We will prepare declaration templates for contractors to determine their status and identify documentation obligations. We prepare transfer pricing documentation for transactions with related entities and direct tax haven transactions. We will also prepare procedures for identifying transfer pricing documentation obligations: for transactions with related entities and those residing, seated, or managed in territories or countries applying harmful tax competition.
for transactions with related entities and those residing, seated, or managed in territories or countries applying harmful tax competition.
transfer pricing, documentation, transfer pricing documentation, deadline, TP, TPR
Contact us
agnieszka.drozdz-wilk@moorepolska.pl
**Summary:**
Polish tax law has introduced extended deadlines for transfer pricing documentation for 2022. Businesses with a calendar tax year must submit local documentation, declarations, and TPR-C information by December 31, 2022, with group documentation due by March 31, 2023. For entities with non-calendar tax years, deadlines have been adjusted; those expiring between January 1 and June 30, 2022, are extended to September 30, 2022, while those between July 1 and December 31, 2022, are extended by three months. Group documentation deadlines are also extended accordingly. The Ministry of Finance aims to ease compliance for taxpayers. The provided text also highlights services offered to assist businesses with identifying reportable transactions, preparing necessary declarations, and creating comprehensive transfer pricing documentation, particularly for transactions with related parties and those involving entities in tax havens or countries with harmful tax competition.
Who No Longer Needs to Sign Company Financial Statements?
New Rules for Signing Company Financial Statements under the Accounting Act
Previously, the Polish Accounting Act of September 29, 1994, man
Who No Longer Needs to Sign Company Financial Statements?
New Rules for Signing Company Financial Statements under the Accounting Act
Previously, the Polish Accounting Act of September 29, 1994, mandated that company financial statements, before submission to the National Court Register, be signed by the person responsible for keeping the company's accounting records and all members of the body authorized to represent the company, typically the management board.
Effective January 1, 2022, an amendment to Article 52 of the Accounting Act removed the requirement for all members of the management board to sign the financial statement. Currently, only one management board member’s signature is required, provided that the other management board members submit appropriate declarations. However, the person responsible for the company's accounting must still provide their signature.
What to Keep in Mind:
Declarations submitted by management board members who do not sign the financial statement must, to be effective, state that the statement has been prepared in accordance with the requirements of the Accounting Act. Declarations can be prepared in written form or in electronic form with a qualified electronic signature. Regardless of the form, declarations must be attached when submitting the company’s financial statement via the Court Registers Portal.
Company financial statements will no longer pose difficulties. The discussed changes significantly simplify the process of submitting financial statements. Not every management board member needs to possess a qualified electronic signature, which is always required for direct signing of the statement. This is particularly important for companies whose management boards include non-Polish citizens.
Would you like to learn more about the latest amendments to the Accounting Act? Are you seeking support in the process of submitting your company's financial statements? Contact us! We will provide all necessary assistance.
We also invite you to explore our e-financial statement service!
company, financial statements, company financial statements, management board
Contact us
agnieszka.drozdz-wilk@moorepolska.pl
Summary:
The Polish Accounting Act has been amended, simplifying the signing process for company financial statements. Previously, all management board members and the person responsible for accounting had to sign. From January 1, 2022, only one management board member's signature is required, provided other board members submit a declaration confirming the statement's compliance with the Accounting Act. The person responsible for accounting's signature remains mandatory. Declarations, whether written or electronic with a qualified signature, must accompany the submitted financial statement. This change, particularly the reduced need for qualified electronic signatures for all board members, eases the submission process, especially for companies with international board members. The update aims to streamline the handling of financial statements and reduce associated difficulties.
On March 29th, the Ministry of Finance extended the deadline for reporting information related to real estate companies. This extension applies to companies whose tax or accounting year ended between
On March 29th, the Ministry of Finance extended the deadline for reporting information related to real estate companies. This extension applies to companies whose tax or accounting year ended between December 31, 2021, and May 31, 2022, moving the submission deadline to September 30, 2022.
Reporting obligations apply to real estate companies and taxpayers holding at least a 5% direct or indirect stake (shares, rights, or similar interests) in such companies. The information should be submitted to the Head of the National Revenue Administration. Real estate companies must report the entities holding these stakes, including the number of rights each entity possesses. Conversely, taxpayers who are partners in real estate companies must report the number of their direct or indirect holdings. All information pertains to the last day of the company's tax or accounting year.
The required submissions are made using specific interactive forms provided by the Ministry of Finance: CIT-N1/PIT-N1 (for real estate companies) and CIT-N2/PIT-N2 (for partners). A Polish tax identification number (NIP or PESEL) is necessary for submission; foreign entities must obtain one. The relevant authority for these submissions is the Head of the National Revenue Administration. This article serves as a guide to these reporting duties.
Success is defined as fulfilling all expectations, a challenging feat as everyone's values differ. However, effective leadership is crucial for professional achievement. A good leader understands thei
Success is defined as fulfilling all expectations, a challenging feat as everyone's values differ. However, effective leadership is crucial for professional achievement. A good leader understands their team's triumphs are their own and strives for collective success. Stagnation leads to decline, hindering innovation and task fulfillment in a rapidly evolving world that demands continuous learning.
A great leader consistently pushes their team to improve, not just for the company or clients, but for their personal growth. This involves motivation, support, fostering independent thinking, and accountability. Leaders must be partners, treating teams collectively while recognizing individual needs. Knowing that their team's achievements are their ultimate measure of value, good leaders share knowledge, igniting and nurturing a passion for learning.
Effective knowledge transfer and encouraging self-directed learning are paramount. Leaders should foster open communication, discussing roles, individual goals, values, strengths, and weaknesses. By creating a space for dialogue about expectations and needs, leaders can better motivate, assign tasks, and guide their teams toward success.
Good leaders challenge their teams, showing them their potential for further improvement. They acknowledge current performance while emphasizing the possibility of achieving more, driving towards the ultimate goal: success. This empowers teams to prove their worth. Motivated and successful employees are more productive, contributing to the success of the team, leader, and company. This, in turn, enables businesses to help their clients achieve their own objectives.
The Act on Local Taxes and Fees (consolidated text: Journal of Laws of 2022, item 1452, as amended) stipulates that the upper limits of flat-rate tax amounts are adjusted annually based on the consume
The Act on Local Taxes and Fees (consolidated text: Journal of Laws of 2022, item 1452, as amended) stipulates that the upper limits of flat-rate tax amounts are adjusted annually based on the consumer price index for goods and services in the first half of the year compared to the same period of the previous year.
According to a communiqué from the President of the Central Statistical Office (GUS) dated July 15, 2022, this index reached 11.8%. Consequently, the maximum rates for real estate tax will increase by 11.8%, a significant rise compared to last year's 3.6% increase.
On July 28, 2022, the Minister of Finance published a notice regarding the upper limits of flat-rate local taxes and fees for 2023. Examples of maximum rate increases include:
* Land used for business activities: from PLN 1.03 to PLN 1.16 per square meter. * Residential buildings: from PLN 0.89 to PLN 1.00 per square meter of usable floor area. * Buildings used for business activities: from PLN 25.74 to PLN 28.78 per square meter of usable floor area.
It is important to note that these are maximum rates, which can be lowered by municipal councils. However, some municipalities, such as Gdańsk and Warsaw, have previously set their rates at the maximum level.
A new government bill published on August 25, 2022, proposes to repeal regulations from January 1, 2021, which extended transfer pricing documentation requirements to indirect tax haven transactions.
A new government bill published on August 25, 2022, proposes to repeal regulations from January 1, 2021, which extended transfer pricing documentation requirements to indirect tax haven transactions.
Previously, transfer pricing documentation was mainly associated with large-scale transactions between related entities. However, the scope was broadened to include smaller value transactions with unrelated entities. The obligation could arise if the beneficial owner of payments made to a counterparty was located in a tax-harmful jurisdiction, even indirectly through a counterparty's dealings. Such indirect "tax haven" transactions, if homogeneous and exceeding PLN 500,000 annually with a single counterparty, could trigger full local documentation requirements, including comparability analyses.
To mitigate these expanding obligations, taxpayers were advised to implement internal processes for verifying transactions and counterparties. The proposed bill aims to revert this, removing the documentation burden for indirect tax haven transactions. The article offers assistance with identifying reportable transactions, preparing required statements from counterparties, and compiling transfer pricing documentation for related-party and direct tax haven transactions, as well as developing procedures for identifying such obligations.
Last year, major Polish taxpayers were required for the first time to publish information about their implemented tax strategy on their websites. This obligation applies to taxpayers whose revenue in
Last year, major Polish taxpayers were required for the first time to publish information about their implemented tax strategy on their websites. This obligation applies to taxpayers whose revenue in a tax year exceeded the equivalent of 50 million euros, and to capital groups. Limited partnerships that became CIT taxpayers in 2021 are also subject to this rule for 2022.
The published information must cover areas such as tax processes, procedures, voluntary cooperation with tax authorities, tax obligations in Poland, disclosures on tax schemes, related-party transactions, restructuring plans, applications for tax interpretations, and dealings with tax-haven jurisdictions. However, information protected by commercial, industrial, professional, or production process secrecy is excluded.
To comply, businesses should review their operations, identify tax risks, and verify or implement new tax procedures. Failure to publish this information can result in a financial penalty of up to PLN 250,000. Preparing this information can also help optimize tax settlements by introducing new procedures, particularly for withholding tax, MDR, and VAT due diligence.
The National Accounting Standard No. 15, "Revenue from Sales of Products, Semi-finished Products, Goods, and Materials," was published in the Official Journal of the Minister of Finance on July 29, 20
The National Accounting Standard No. 15, "Revenue from Sales of Products, Semi-finished Products, Goods, and Materials," was published in the Official Journal of the Minister of Finance on July 29, 2022. This standard establishes the principles for determining, recognizing, and presenting revenue from the sale of goods in financial statements. Its primary objective is to define the accounting rules for recognizing, measuring, presenting, and disclosing revenue from sales of these items, as well as associated costs incurred to conclude and fulfill sales agreements.
KSR No. 15 is applicable for financial statements prepared for fiscal years beginning on or after January 1, 2023, though earlier adoption is permitted. The standard addresses crucial aspects such as the conditions for recognizing revenue, valuing variable consideration, accounting for contract modifications, identifying the transfer of risks and benefits, demonstrating the probability of economic benefits, detailing elements in multi-element contracts, defining the roles of participating entities (agent vs. principal), handling sales under special conditions (e.g., consignment, conditional sales, deferred delivery, promotional sales, barter, repurchase agreements), reducing revenue (returns, discounts, rebates, price adjustments, grants), and the presentation and disclosure of revenue information in financial reports. An appendix provides practical examples of the standard's application.
Approve means to consider something good, right, or worthy of support. It also expresses consent and acceptance. Approval, or praise, is a secret yet readily available, powerful weapon in the hands of
Approve means to consider something good, right, or worthy of support. It also expresses consent and acceptance. Approval, or praise, is a secret yet readily available, powerful weapon in the hands of every good leader.
We all desire approval. It is crucial to distinguish the normal human desire to be appreciated and noticed from an unhealthy need for approval, which psychologist Albert Ellis places at the pinnacle of irrational beliefs. Constantly seeking everyone's approval leads to mental and emotional discomfort because it's unattainable; there will always be someone who disagrees.
Professional approval, however, is different. Although people thrive when appreciated, they often deny this to others, resorting to coldness, indifference, or unnecessary criticism. The truth is, praise has a greater impact on development than constructive criticism.
A good leader praises others. Fear, uncertainty, and a focus on punishment without rewards are common but ineffective leadership styles. The best, though more difficult, approach is to acknowledge and praise every small progress a team member makes. This shows they are seen and valued, motivating them to do more and better, ultimately benefiting the team and the entire company.
Why approval at work is so important: Regardless of our position, we like our work to be recognized and acknowledged. A good leader understands that praising their team fosters their development. Silence, indifference, or constant criticism can make a team feel their work is meaningless, leading to a decline in effort. Focusing on positive outcomes boosts morale, encouraging employees to perform willingly. By minimizing criticism and utilizing praise, positive reactions are fostered and developed, while negative ones fade due to lack of attention.
A good leader remembers that shouting, unwarranted criticism, or instilling fear makes their team less productive, unhappy, and disinclined to perform their duties. Conversely, approval is a powerful tool. Every manager must aim for progress and understand their team, remembering their own past experiences as employees.
In summary, genuine approval and praise are potent tools for effective leadership. While the need for approval is a natural human desire, an unhealthy obsession with it is detrimental. In professional settings, acknowledging and celebrating even minor achievements significantly boosts morale and productivity, proving more impactful than criticism. Leaders who foster an environment of appreciation, rather than fear or negativity, create motivated and high-performing teams, ultimately benefiting the entire organization. This approach encourages positive behaviors and employee growth, leading to better overall results and a more positive work environment.
Practical problems in determining the status of a real estate company
8/11/2022
According to the Corporate Income Tax (CIT) Act, a real estate company is defined as an entity other than a natural person, obliged to prepare a balance sheet under accounting regulations, where speci
According to the Corporate Income Tax (CIT) Act, a real estate company is defined as an entity other than a natural person, obliged to prepare a balance sheet under accounting regulations, where specific conditions are met. These conditions differ for entities commencing business activities and those already operating. If an entity fails to meet any of these presented conditions, it cannot be recognized as a real estate company.
Practically, determining this status often leads to numerous doubts, primarily stemming from difficulties in correctly interpreting the relevant provisions of the Act. Consequently, tax authorities issue tax interpretations to assist taxpayers in establishing their real estate company status. A notable interpretation (sygn. 0111-KDIB1-1.4010.523.2021.2.AW dated May 6, 2022) clarified that when assessing the balance sheet value of real estate, both tangible assets and current assets (products, inventory) should be considered. Furthermore, when determining if the 60% revenue threshold from rental or subletting is met, revenue derived from properties involved in development activities must also be included. For further details, please contact us.
**Summary:**
The CIT Act defines a real estate company based on accounting obligations and specific revenue thresholds from property. Entities must correctly interpret these criteria, as ambiguities often arise. Tax authorities provide interpretative rulings to clarify this status. A key interpretation highlights that when calculating a real estate company's asset value, both tangible and current assets are relevant. Additionally, revenue from properties involved in development activities should be counted towards the rental income threshold. This clarifies the conditions for a company to be classified as a real estate company under Polish tax law, impacting its tax obligations.
Tax Procedures, or How to Limit Risk in Your Company
8/9/2022
The development of a business undeniably carries various risks related to taxes, fees, and other state levies. Tax procedures serve as guidelines outlining the expected behaviors that should be implem
The development of a business undeniably carries various risks related to taxes, fees, and other state levies. Tax procedures serve as guidelines outlining the expected behaviors that should be implemented and applied in the conduct of economic activity.
Establishing tax procedures is particularly crucial for entrepreneurs. It provides an opportunity to reduce imposed sanctions or avoid the challenging of tax settlements by tax authorities. To minimize tax risk, it is beneficial to have documented tax procedures within a company. It is essential that individuals involved in the business possess basic information regarding tax and tax-related issues and processes, and are capable of effectively managing the resulting tax risks.
Tax procedures gain significant importance due to the rapid pace of legislative changes, particularly evident in recent years.
Moore Polska can assist with your tax procedures by reviewing your business operations to identify areas of risk. Furthermore, we propose the creation of essential tax procedures for your enterprise. Key procedures we offer include those for MDR, withholding tax, VAT, transfer pricing, and the application of codes and markings within JPK_VAT, along with other procedures tailored to individual taxpayer needs. Contact us for more details.
It is important to note that a draft bill has not yet been published in this regard. Therefore, this article is based solely on the assumptions of changes to the Value Added Tax Act. These are availab
It is important to note that a draft bill has not yet been published in this regard. Therefore, this article is based solely on the assumptions of changes to the Value Added Tax Act. These are available in the indicated Register of Legislative and Programmatic Works.
As indicated by the Council of Ministers, the changes aim to eliminate redundant and no longer necessary obligations that burden entrepreneurs. They are also intended to facilitate VAT settlements.
Key proposed changes under SLIM VAT 3 include:
Raising the small taxpayer sales limit to EUR 2,000,000, thereby enabling a larger group of entities to use the cash method and quarterly VAT settlements. The current limit is EUR 1,200,000.
Clarifying the rules for applying exchange rates to correction invoices issued in foreign currencies.
Simplifications regarding the VAT deduction proportion and correction of deducted tax, particularly by increasing the amount allowing the deduction proportion to be considered 100% when it exceeds 98%. Currently, the non-deductible input tax amount that allows recognition of a 100% proportion must be less than PLN 500.
Abandoning the formal requirement of possessing an invoice for intra-Community acquisition of goods when deducting input tax for it. Taxpayers will be able to deduct input tax in the same period they declare output VAT, even without an invoice.
Expanding the VAT exemption for investment fund management services to investment funds based in other EU countries.
Eliminating the fee for applying for a WIS (individual tax ruling).
Clarifying the rules for correcting output tax for the supply of goods made to a traveler.
Expanding the possibilities for using funds accumulated in a VAT account for other taxes and fees, including retail sales tax, the health contribution (sugar tax), tonnage tax, and simplified tax on gross production value (shipbuilding tax).
Allowing the transfer of funds from a VAT account to a VAT account of a VAT group representative for the payment of due taxes to the tax office. VAT groups are set to come into effect on January 1, 2023, meaning this regulation could also be introduced earliest at the start of 2023.
Simplifications in billing settlement reporting by aligning invoice issuing conditions with e-receipts.
Simplifications in the use of cash registers, allowing taxpayers to choose to store documents issued by cash registers in paper or electronic form, particularly fiscal reports.
The Council of Ministers plans to adopt the draft bill in the third quarter of 2022, after which it will be submitted to the Sejm.
Persuasion is a method of influencing others, aiming to gain interest and approval for one's arguments. It is an art designed to evoke specific, intended reactions. A rational approach is fundamental,
Persuasion is a method of influencing others, aiming to gain interest and approval for one's arguments. It is an art designed to evoke specific, intended reactions. A rational approach is fundamental, especially when dealing with complex topics or potential counterarguments. Relying on verified data, logical reasoning, and rational analysis is always best. When trying to change someone's opinion, these tools are essential, not to belittle their knowledge, but to support your own points, making it easier to guide their thinking.
However, data must be presented thoughtfully, sourced from reliable origins, avoiding unverified information or fake news for the sake of statistical weight. Truthfulness and conciseness are key; even a hint of falsehood or hesitation will be noticed. It's crucial to avoid a patronizing tone; the manner of speaking is as important as the factual basis. Respectful engagement with the listener, acknowledging their opinions even when different, is vital. Maintaining composure, even when faced with challenging questions, is essential, as these can be opportunities for discussion and learning. Avoid succumbing to emotions.
The tone of voice matters; mumbling or shouting is ineffective. A confident, convicted tone, without arrogance, is persuasive. Balanced word choice is a key to success. Body language is equally important; avoid being overly stiff or animated. Naturalness is foundational; artificiality will be perceived negatively. Free and easy communication fosters a relaxed atmosphere, making the listener more receptive and breaking down barriers.
The art of persuasion isn't about long-winded or convoluted speech. Overly elaborate language can obscure the main point and bore the listener, leading to misunderstanding. Simple, clear communication is most effective. Structuring arguments logically, starting with a general overview and gradually moving to specifics, prevents overwhelming the audience and clarifies the discussion's purpose. Avoid creating uncertainty or negative feelings. Instead, foster sympathy, tolerance, and courtesy to open doors for persuasion. This skill is invaluable not only in leadership but also in business conversations and negotiations.
Persuasion is the art of influencing others by gaining their interest and approval for your arguments. A rational approach, supported by verified data and logical reasoning, is crucial for effectively conveying your points and potentially changing someone's opinion. It's vital to present information truthfully and concisely, avoiding any hint of falsehood or uncertainty. Respect for the listener, including their opinions, is paramount. Maintaining composure, speaking with a confident yet humble tone, and using appropriate body language are all essential for effective persuasion. Naturalness in communication helps create a receptive atmosphere. Clear, simple messaging, structured logically from general to specific, is more impactful than long, elaborate speeches. Ultimately, fostering positive feelings like sympathy and courtesy opens the door for persuasion, a skill valuable in leadership, business, and negotiation.
Analysis of Inputs and Outputs from a Closed Cost Loop
7/26/2022
Recording operations within a closed cost circle, in correspondence with other accounts in that circle, means the change in product inventory recorded on accounts of the Cost (Group 6) equals the bala
Recording operations within a closed cost circle, in correspondence with other accounts in that circle, means the change in product inventory recorded on accounts of the Cost (Group 6) equals the balance of account 49 (Cost Settlement). However, many operations can cause entries into or exits from this cost circle. Analysis of these movements primarily focuses on operations recorded on Group 6 accounts in conjunction with accounts outside the circle, such as Groups 0, 1, 2, 3, and Group 7 accounts (excluding the cost of goods sold).
Examples of such transactions on Group 6 accounts include releasing finished products for lab testing, promotional events, identifying inventory shortages or surpluses, transfers to a company store's inventory, use in fixed asset production, value write-downs, and donations of finished goods.
However, analyzing changes in product inventory should not be limited to Group 6 accounts. The closed cost circle also includes Group 5 accounts (Costs by Activity Type), account 70-1 (Cost of Goods Sold), and account 49 (Cost Settlement). Therefore, movements in and out of these accounts can also disrupt the balance within the closed cost circle.
Examples of deviations within Group 5 involve resolving or establishing provisions for employee benefits or warranties, providing gratuitous services, or undertaking fixed asset construction by primary or auxiliary activities. For account 490, deviations can include settling insurance costs or establishing/resolving provisions for employee benefits or warranties.
Importantly, changes in product inventory should not be affected by deferred costs unrelated to core operations, like financial commissions settled over time.
Further Changes to Corporate Income Tax – Polish Deal
7/20/2022
The legislative process for these changes is ongoing, and updates will be provided as significant developments occur.
Key amendments to the Corporate Income Tax Act include the repeal of "hidden divi
The legislative process for these changes is ongoing, and updates will be provided as significant developments occur.
Key amendments to the Corporate Income Tax Act include the repeal of "hidden dividend" provisions, which were designed to prevent profit distribution disguised as deductible expenses, such as gratuitous asset use or interest-free loans to shareholders.
A proposed suspension of the minimum income tax is planned until December 31, 2022. Future modifications to this tax include raising the profitability threshold from 1% to 2% and adjusting its calculation by excluding specific costs like leasing fees, salary and social security increases, energy cost increases, and excise tax.
The project also aims to simplify the building income tax refund process by eliminating the need for formal decisions when refund amounts are clear.
Documentation requirements for transactions with offshore entities (TP) will be adjusted, notably by increasing the materiality threshold for direct transactions to PLN 500,000 annually. The scope of documentation will be clarified, focusing on the beneficial owner of the income. The presumption of beneficial owner residency in tax havens will be abolished.
For Controlled Foreign Corporations (CFC), regulations will be introduced to prevent double taxation on dividends paid between CFCs within the same holding structure, and the definition of a subsidiary will be refined.
Holding company rules are being clarified, including a revised definition of a holding company that removes the tax exemption condition and expands its scope to include simple joint-stock companies. A 95% dividend tax exemption will become a full 100% exemption.
Clarifications for the lump-sum corporate income tax (Estonian CIT) will address non-business expenses, the burden of proof for business asset use, the expiry of tax liability after four tax years, and the deadline for tax returns and payments. Payment deadlines for various income distributions will also be extended.
Changes to the "enveloped profit tax" will include defining deductible expenses and clarifying the conditions for its application to counteract tax avoidance through transfers to low-tax jurisdictions.
Withholding tax rules will see a relaxation of the "pay and refund" mechanism, with some payer obligations regarding interest and discount on government securities being repealed. Exemptions for non-residents will be expanded, and the deadline for submitting payer declarations regarding preferential treatment conditions will be extended to the end of the tax year.
Moore Polska: Tax & Legal Alerts is a service that guarantees up-to-date information on regulatory changes and their interpretations relevant to your b
Stay updated and discover the support we offer!
Moore Polska: Tax & Legal Alerts is a service that guarantees up-to-date information on regulatory changes and their interpretations relevant to your business operations.
The service provides monthly alerts summarizing announced, projected, and enacted changes in tax, accounting, and legal matters.
**Tailored Service – Moore Polska: Tax & Legal Alerts**
We create alerts based on draft laws, explanations, and announcements from government administration, interpretations from tax authorities, and rulings from the Supreme Administrative Court and provincial administrative courts. The information provided is customized to the client's needs, considering their business activity and its scope. Alerts are delivered in the first week of each month.
**Benefits of Moore Polska Alerts:**
Moore Polska: Tax & Legal Alerts ensure security through updated knowledge of legislative and interpretative changes, leading to:
Reduced business uncertainty due to dynamic changes and rapid legislative processes. Minimized internal administrative burden of monitoring changes independently. Precise understanding of how new regulations impact practical business operations. Priority initial assessment of regulatory changes by tax and legal experts. Competitive advantage derived from superior information access. Enhanced business performance by leveraging new legislative solutions and interpretative practices.
**How to Use the Service:**
Contact us and express your need for the service via the dedicated form on our website.
Tax authorities have consistently confirmed in individual interpretations that profits distributed for 2020 and profits earned by a limited partnership before it acquired CIT taxpayer status are not s
Tax authorities have consistently confirmed in individual interpretations that profits distributed for 2020 and profits earned by a limited partnership before it acquired CIT taxpayer status are not subject to flat-rate tax. A limited partnership was required to close its tax books on April 30, 2021, to determine its financial result for potential distribution to partners. This closing was for tax purposes only and did not necessitate a financial statement.
The Ministry of Finance clarified that this tax-book closing on April 30, 2021, was solely for tax calculations, not for producing a financial statement. The next financial statement was due on December 31, 2021, covering the entire year. This financial result, calculated for the period January 1 to April 30, 2021, was to be reported and allocated to partners. For periods after May 1, 2021, when the partnership became a CIT taxpayer, its revenue and expenses were recognized by the partnership, with prior events affecting its CIT liability also considered. The partnership continues its tax reporting, previously handled by its partners. Financial reporting standards remain unchanged; the 2021 profit and loss statement presents the total financial result, but for clarity, the result for the first four months can be shown separately.
Tax authorities have confirmed that profits distributed for 2020 and those earned before a limited partnership became a CIT taxpayer are exempt from flat-rate tax. The partnership was obligated to close its tax books by April 30, 2021, to establish its financial result for potential partner distributions. This closure was purely for tax purposes and did not require a financial statement. The Ministry of Finance further clarified that this tax-book closure did not trigger reporting obligations; the subsequent financial statement was due on December 31, 2021. The financial result from January 1 to April 30, 2021, was to be accounted for and allocated to partners. Following the acquisition of CIT taxpayer status on May 1, 2021, the partnership recognized its own revenue and expenses, incorporating prior events that affected its CIT liability. The partnership's tax reporting continues, previously managed by its partners. Financial reporting standards remain standard, with the 2021 statement showing the overall result, though the pre-May financial outcome can be presented separately for transparency.
To inspire means to influence through appropriate actions and a represented attitude, suggesting solutions not manipulatively, but to encourage action and reflection. This quality is crucial for good
To inspire means to influence through appropriate actions and a represented attitude, suggesting solutions not manipulatively, but to encourage action and reflection. This quality is crucial for good leadership. Effective leaders start by acting themselves before issuing commands.
A clear and fair division of responsibilities is foundational for smooth team operations, ensuring deadlines are met, economic efficiency is achieved, and employees are content. Poorly distributed tasks lead to an unhappy, inefficient team, with members either overworked or bored. Leaders should foster supportive relationships within the team and focus on employee development, assigning increasingly challenging tasks to encourage growth.
When giving directives, precision, sincerity, and culture (respectful treatment) are paramount. Instead of issuing orders, good leaders use questions, suggestions, and proposals, allowing for individual understanding and tailored approaches. Open communication and dialogue are key to inspiring action, building trust, and leveraging employee ideas.
Verifying tasks should be done without undue pressure. Employees who feel trusted will self-monitor. However, leaders must also monitor to intervene when necessary, providing constructive feedback. Recognizing and acknowledging employees' work is vital for their motivation.
Ultimately, inspiring, motivating, and listening are the core tenets of effective leadership. The goal is to make employees *want* to perform tasks, believing they can achieve more and learn from challenges. This approach fosters a positive and productive work environment.
The Social Insurance Institution (ZUS) has announced a new call for applications for co-financing investment and advisory projects by contribution payers. The program aims to improve workplace safety
The Social Insurance Institution (ZUS) has announced a new call for applications for co-financing investment and advisory projects by contribution payers. The program aims to improve workplace safety and hygiene, reduce accident and occupational disease risks, and mitigate the impact of risk factors. A total of 90 million Polish złoty is available for businesses.
Up to 300,000 złoty gross can be obtained per project, with 299,000 złoty allocated for investment activities and 1,000 złoty for advisory services. The minimum co-financing amount is 10,000 złoty gross. Contribution payers of any size are eligible, provided they meet several conditions: no outstanding social and health insurance or tax arrears, not being in bankruptcy, receivership, liquidation, or creditor arrangement proceedings, and not having applied for subsequent co-financing within three years of receiving or returning previous funding.
Applications are open from June 6 to July 8, 2022. Eligible investments include improvements to technical installations, machinery, workplaces, noise and vibration reduction, lighting, electrical safety, air purification and ventilation, working at height and in confined spaces, reducing musculoskeletal strain, protection against chemical and biological hazards, and personal protective equipment. Applications are assessed based on formal and substantive criteria, including compliance with OSH regulations, project objectives, feasibility, cost-effectiveness, and impact on OSH improvement. Seeking expert assistance for application preparation is recommended to ensure compliance and maximize chances of success.
Corporate Reorganizations and Tax Neutrality in CIT
6/1/2022
This article addresses changes in Polish tax law concerning company reorganizations, specifically focusing on the impact of the "Polish Deal" amendments to the Corporate Income Tax (CIT) Act. The key
This article addresses changes in Polish tax law concerning company reorganizations, specifically focusing on the impact of the "Polish Deal" amendments to the Corporate Income Tax (CIT) Act. The key question is the tax implications of a second reorganization.
The article explains that while EU Directive 2009/133/WE generally ensures tax neutrality for mergers, divisions, and share exchanges, the Polish amendments introduce new conditions. The Ministry of Finance argues these changes aim to prevent indefinite tax deferral and ensure continuity in tax valuations.
Specific conditions for tax neutrality in share exchanges include verifying if the shareholder is a CIT taxpayer, if contributed shares are for capital increase, if the shares were acquired for the first time (not through prior reorganizations), and crucially, if the tax valuation of acquired shares continues the valuation of the restructured assets. Failure to meet these conditions results in taxation.
Similar conditions apply to company mergers and divisions. The tax neutrality hinges on shares not being previously acquired via share exchanges or other reorganizations and the tax valuation of new shares not exceeding the prior tax valuation of the original shares, ensuring continuity of asset valuation.
Changes also affect contributions of businesses or organized parts of businesses (ZCP). Tax neutrality for such contributions is maintained only if the recipient company adopts the tax book values of the assets from the contributing entity. The burden of proof for these conditions rests with the taxpayer. The amendments, effective from January 1, 2022, lack transitional provisions, requiring immediate application and potential re-evaluation of past transactions. Tax neutrality is largely determined by the method of acquiring shares involved in the reorganization.
Lifting the state of epidemic has implications for tax obligations!
5/27/2022
Effective May 16, 2022, Poland transitioned from an epidemic state to an epidemic threat, impacting tax regulations. Several tax preferences expired at the end of May 2022. These included deductions f
Effective May 16, 2022, Poland transitioned from an epidemic state to an epidemic threat, impacting tax regulations. Several tax preferences expired at the end of May 2022. These included deductions for cash and in-kind donations for COVID-19 related purposes, one-time amortization of fixed assets used for COVID-19 product manufacturing, R&D relief for COVID-19 product development, the 5% IP Box rate for legal entities on qualifying IP used against COVID-19 (this rate could only be settled annually after May), and the exemption from minimum tax on building income.
Preferences available until the end of 2022 include the "bad debt" relief and increased PIT exemption limits for certain social aid and hardship payments. Specifically, the exemption for general welfare fund payments increased to PLN 2,000, while exemptions for assistance due to random events, natural disasters, long-term illness, or death were raised to PLN 10,000, and other welfare payments to PLN 3,000. For individuals, the 5% IP Box rate on qualifying intellectual property for COVID-19 countermeasures is also available until year-end.
Some regulations remain in effect, specifically those directly referencing the epidemic threat period, such as extended deadlines for notifying payments to accounts outside the VAT taxpayer list (ZAW-NR), suspension of certain MDR deadlines, the use of 2019 residency certificates with a statement of unchanged data, and extended deadlines for issuing tax interpretations.
We encourage you to read other texts in the series – "What it means to be a good leader?", as well as "A good leader is a good leader", "A good leader is an honest superior", and "A good leader leaves
We encourage you to read other texts in the series – "What it means to be a good leader?", as well as "A good leader is a good leader", "A good leader is an honest superior", and "A good leader leaves the right to those who need it."
Respecting someone's different opinions primarily involves approaching them with distance. By respecting another person, you cannot judge them. Everyone has the right to be themselves and to express their own opinion, provided they do so in a cultured and balanced manner. Gender, position, or circumstances are irrelevant here.
What if several people at work have different opinions? How to behave so that appropriate business steps are taken despite a lack of agreement? What to do so that a person whose opinion you disagree with feels that, regardless of your own opinion, you respect their words?
Empathy is the key to respect. Empathetic people cannot intentionally hurt another person; they understand others' feelings and know how to support them. These are undoubtedly skills a good leader should possess. Empathy is also the foundation of respect – it allows for a better understanding of the interlocutor's position and easier acceptance when it differs from our own. Respect is the key to avoiding arguments, and you can find an article about it HERE.
A good leader must remember that the employee is at the center of the value system, and therefore, must also take care to show them respect, even if they are not always right. Example always flows from the top. Thus, a good leader must possess appropriate character traits to better understand the behavior of people around them. They must, of course, be reasonable but also cannot close themselves off to others' opinions, especially when they differ from their own reasoning.
Be like Socrates. Never show your interlocutor that you start a discussion eager to prove your point at all costs. Also, remember to control your emotions. Do not try to imply that "you are smarter" or "you will confirm your thesis at all costs." First, ask yourself if you are truly 100% sure you are right – it rarely happens. Allegedly, Theodore Roosevelt humbly assured that if he were right 75% of the time, he couldn't expect anything more. It is worth noting that this was said by one of the most enlightened minds of the 20th century.
Dale Carnegie, in his book "How to Win Friends and Influence People," goes a step further, saying that if we were right 55% of the time, we could safely invest in the stock market and earn millions. However, if you are not even 55% sure, why are you able to tell someone they are wrong? So, don't be afraid of hesitations in your statements – "it seems to me," "I have a feeling," "if I'm wrong, correct me." This is not a sign of weakness. Such an introduction will defuse tension, open a broader scope for discussion, and inspire the interlocutor to approach the discussion with equal respect. You will avoid arguments, and perhaps even make someone admit they are wrong, given that the other side openly mentions such a possibility.
Respect in business. At Moore Polska, we focus on clear relationships on all levels of functioning of individual teams and the entire company. Importantly, these are not empty phrases but actions that are reflected in reality, in daily life, which are then translated into cooperation with clients. Sometimes, yes, the truth can hurt, but conveyed in an appropriate, empathetic, and respectful manner, it can become a reason for further self-improvement. It is no different when it comes to tasks for our clients. After all, we build our strength on mutual trust, and therefore, on the belief that our relationships will be respectful and honest, even if such honesty is not always easy to accept.
If you are looking for a true partner who will help your company flourish in a changing world, contact us.
This article emphasizes the importance of empathy and respect in leadership, particularly in handling workplace disagreements. It highlights that a good leader creates an environment where diverse opinions are valued and discussed respectfully, regardless of the individuals' positions or genders. The piece draws upon figures like Socrates, Theodore Roosevelt, and Dale Carnegie to illustrate that humility and acknowledging the possibility of being wrong are not weaknesses but tools for fostering productive dialogue and mutual respect. Ultimately, it suggests that genuine respect and empathy are crucial for effective leadership, fostering trust, and driving positive outcomes in business relationships.
Settlement of the written-off PFR subsidy in CIT-8
5/24/2022
This article discusses how to declare a forgiven PFR subsidy in the CIT-8 tax return and its attachment, CIT-8/O. The forgiven subsidy is classified as income from other sources, not from capital gain
This article discusses how to declare a forgiven PFR subsidy in the CIT-8 tax return and its attachment, CIT-8/O. The forgiven subsidy is classified as income from other sources, not from capital gains, and should be reported in position 53 of the CIT-8 form.
For the CIT-8/O attachment, specific positions (170, 171, 172) should be completed to reflect the waiver of tax collection based on a ministerial regulation dated July 16, 2021. These positions require the amount of tax covered by the waiver, not the subsidy amount itself. A prerequisite for applying this tax waiver is the taxpayer having taxable income.
If a taxpayer incurs a tax loss, the forgiven PFR subsidy still needs to be reported in position 53 of CIT-8. However, positions 170-172 of CIT-8/O are not filled because the total tax due is zero. The article notes that the loss will be reduced by the subsidy income, but the tax waiver cannot be applied if no tax is due.
The article concludes by inviting readers with further questions to make contact.
Since 2017, VAT regulations stipulated that if a taxpayer received an intra-Community acquisition invoice within three months of the end of the month when the tax liability arose, and declared the cor
Since 2017, VAT regulations stipulated that if a taxpayer received an intra-Community acquisition invoice within three months of the end of the month when the tax liability arose, and declared the corresponding output VAT in the period the liability arose, they could deduct the input VAT in the same period. However, significant delays in invoice issuance by suppliers created a risk of retrospective tax declaration, potentially leading to interest penalties.
The Court of Justice of the European Union (CJEU) ruled in case C-895/19 on March 18, 2021, that this "separated timing" for intra-Community acquisitions was incompatible with EU law. The CJEU emphasized that the principle of neutrality requires VAT payment and deduction to occur in the same period, preventing taxpayers from bearing the burden of VAT for which no amount is due to tax authorities.
Following this ruling, a VAT law amendment effective September 7, 2021, aligned Polish regulations with the CJEU judgment. This amendment allows taxpayers to report both output and input VAT for intra-Community acquisitions in the same period, provided the output VAT is declared when due. This change offers more favorable tax treatment and opens the possibility for claiming refunds of interest paid under the previous, less advantageous rules.
We encourage you to review the previous articles in the "Get to Know IP BOX!" series: Part I: HERE, Part II: HERE, Part III: HERE, Part IV: HERE, Part V: HERE.
This article outlines the fundamental p
We encourage you to review the previous articles in the "Get to Know IP BOX!" series: Part I: HERE, Part II: HERE, Part III: HERE, Part IV: HERE, Part V: HERE.
This article outlines the fundamental principles of accounting for losses within the IP BOX regime. A loss occurs when the costs incurred to generate revenue exceed the total revenue itself. Specifically, a loss from qualified intellectual property (IP) arises when the expenses associated with that IP surpass the income derived from it.
Taxpayers can offset their taxable income with losses from qualified IP. This offset is permissible within the next five consecutive tax years, provided the loss stems from the same qualified IP. It's crucial to understand that the IP BOX regulations do not permit the pooling of income and losses from different qualified IPs to offset one another. Furthermore, losses from qualified IPs cannot be used to reduce income derived from other sources, such as those taxed under general tax scales (18%/32%) or the flat tax rate (19%). This exclusion also applies if the taxpayer subsequently ceases to generate income from qualified IPs, rendering the prior loss unrecoverable. The principle works conversely as well; losses from non-qualified IP sources cannot offset income from qualified IPs.
An exception exists where a taxpayer cannot precisely allocate income or loss to individual IPs used in products or services. In such cases, losses can be recognized against the same product or service category where the qualified IP was employed. However, this is an exception, and taxpayers are expected to maintain detailed records that clearly distinguish individual qualified IPs and their respective revenues, costs, and resulting income or loss.
For further inquiries, please contact us. We invite you to stay engaged with our IP BOX series.
Tax refund in connection with the application of Art. 15e of the CIT Act
법인세법 제15조의e 적용에 따른 세금 환급
5/5/2022
Regulations concerning Article 15e of the CIT Act on limiting the deductibility of costs – the fate of the provision.
The repeal of Article 15e of the CIT Act at the beginning of 2022 removed a provi
Regulations concerning Article 15e of the CIT Act on limiting the deductibility of costs – the fate of the provision.
The repeal of Article 15e of the CIT Act at the beginning of 2022 removed a provision that, due to its structure, contained an open catalog of intangible services subject to cost limitation. This led to numerous individual tax interpretations and administrative court rulings. However, the application of Article 15e's solutions is not entirely excluded, as they are implemented in regulations related to the so-called minimum tax, suggesting further interpretative disputes. Nevertheless, given court rulings resolving ambiguities surrounding cost limitations under Article 15e, entities that have applied its provisions can analyze their past tax settlements to assess the possibility of claiming refunds for overpaid CIT tax in previous years.
Clarified doubts by administrative courts – taxpayer opportunities.
A Supreme Administrative Court ruling on June 1, 2021 (ref. II FSK 364/21) established that technical support services for production machinery, investment project coordination, productivity improvement initiatives, and waste reduction projects are not similar to services listed in Article 15e(1)(1) of the CIT Act and thus are not subject to limitation. The court emphasized that the nature of the service, not solely its PKWiU classification, should determine its applicability.
Another ruling by the Supreme Administrative Court on December 16, 2021 (ref. II FSK 841/19) found that sales intermediation services, where agents find customers and facilitate sales agreements without directly concluding them, do not constitute services similar to advertising. The court stated that promotional activities within these intermediation services do not dominate and are not characteristic of advertising.
A ruling by the Provincial Administrative Court in Gliwice on February 17, 2021 (ref. I SA/Gl 1746/20) determined that IT support services, including IT solution implementation, software maintenance, IT security procedures, network access provision, technical support, and website maintenance, are not similar to advisory or management and control services as defined in Article 15e. The court clarified that these services are routine and technical, unlike external management or control responsibilities.
Conclusions and recommendations – how we can help.
Discrepancies between tax authorities and administrative courts, along with numerous interpretations and rulings, highlight the persistent ambiguities surrounding Article 15e of the CIT Act. Companies adopting a cautious approach due to these interpretative differences might have overpaid their taxes. Analyzing past settlements in light of current interpretation and case law can lead to tax refunds. We encourage you to review your expenses and approach to cost limitations to identify potential overpayments.
A workflow system is used to automate business processes by systematically transferring documents, cases, or tasks between successive individuals. Commonly support
What is a workflow system used for?
A workflow system is used to automate business processes by systematically transferring documents, cases, or tasks between successive individuals. Commonly supported processes include invoice circulation, document management, contract approvals, and leave requests.
Who is it addressed to?
It is primarily intended for companies, but its creators anticipate its use by associations, foundations, chambers, councils, universities, sports clubs, and more. With the overcoming of certain psychological barriers, it could also be adopted by large corporations and institutions. It can serve as a primary document circulation system or complement an existing one.
How much does it cost?
0 PLN. Dew-X is available for free, pro publico bono. There are no limitations on the number of users, processes, or their instances. Beyond the free offering, only optional additional disk space is subject to a fee.
Are my data and documents secure?
Yes. To support Dew-X, the provider has entered into an agreement with Operator Chmury Krajowej. You can learn more about workflows and electronic document circulation HERE.
Partner article.
Contact us
Jan Trawiński BlueDew sp. z o.o. +48 728 490 454 jan.trawinski@bluedew.pl
The provided content describes Dew-X, a free workflow system designed for automating business processes through the systematic transfer of documents and tasks. It's aimed at companies but is also suitable for various organizations like associations and universities, with potential for larger institutions. The system handles common processes such as invoice circulation, document management, and contract approvals. Notably, Dew-X is free, with no limits on users or processes, and data is secured through an agreement with Operator Chmury Krajowej. Optional paid disk space is the only additional cost. The article also includes contact information for inquiries.
On February 21, 2022, the Supreme Administrative Court issued a resolution (III FPS 2/21) clarifying the tax treatment of goodwill. Goodwill, defined as the positive difference between the acquisition
On February 21, 2022, the Supreme Administrative Court issued a resolution (III FPS 2/21) clarifying the tax treatment of goodwill. Goodwill, defined as the positive difference between the acquisition price of a business or its organized part and the market value of its assets, had previously led to divergent court rulings regarding its taxability under the Civil Law Transactions Tax (PCC) act.
The PCC act taxes the sale of tangible assets and property rights. Some courts had argued that goodwill constituted a property right due to its transferability and quantifiable value, thus making it subject to PCC. Conversely, other courts maintained that goodwill was merely a factual state arising at the moment of sale and not an independent property right existing prior to the transaction, therefore exempt from PCC.
The Supreme Administrative Court's resolution aligned with the latter interpretation, ruling that goodwill is not a property right subject to PCC. The court reasoned that goodwill, as an asset value, emerges only at the point of business acquisition and is not composed of property rights. It distinguished goodwill from the business itself, which is a collection of assets.
This definitive ruling provides an opportunity for taxpayers who have paid PCC on goodwill to claim a refund of overpaid tax, provided the tax obligation has not expired. Typically, tax refund claims are possible for obligations arising in 2017 or later.
A good leader leaves the right to those who need it
4/27/2022
Respecting the views of your interlocutor is essential, both in business and personal life, especially during tense moments like arguments. Instead of escalating conflict by asserting superiority, ack
Respecting the views of your interlocutor is essential, both in business and personal life, especially during tense moments like arguments. Instead of escalating conflict by asserting superiority, acknowledge and respect the other person's opinion, even if you believe you are entirely correct. This is the first step to de-escalating a dispute.
Avoiding arguments is crucial, as conflicts negatively impact the entire team's morale and productivity, potentially leading to employee turnover. Leaders must foster an environment where open and respectful discussion of diverse opinions is encouraged. When disagreements arise, leaders should remain calm, avoid instinctive aggression, and not defend their views at all costs. Effective communication, clear messaging, and avoiding information noise are paramount.
A good leader confronts issues rather than avoiding them, seeking to understand the root cause of conflicts, whether it's poor criticism delivery or communication breakdowns. They remain objective, fair, and admit mistakes readily, understanding that humility and strong arguments are more effective than asserting authority. In some situations, a leader recognizes when a debate is unproductive and it's better to disengage, particularly when dealing with individuals who are firmly convinced they are right despite evidence to the contrary. Building a culture of dialogue and acceptance within teams minimizes conflicts, allowing leaders to focus on growth and development, confident that any misunderstandings can be resolved smoothly.
The influx of Ukrainian refugees into Poland necessitates the determination of their tax residency for Personal Income Tax (PIT) purposes, especially when they earn income beyond standard employment c
The influx of Ukrainian refugees into Poland necessitates the determination of their tax residency for Personal Income Tax (PIT) purposes, especially when they earn income beyond standard employment contracts. This is crucial for both employers, who are responsible for withholding PIT advances, and employees, as tax residency impacts their tax liabilities.
Polish PIT law states that non-residents with limited tax liability pay a flat 20% tax on income earned in Poland from personal activities like service or work contracts. This means no tax-free allowance and specific income-earning cost deductions, which can be disadvantageous. Generally, an individual is considered a tax resident in Poland if they have their center of personal or economic interests there or have stayed in Poland for over 183 days in a tax year. However, double taxation treaties, like the one with Ukraine, can alter these rules.
The bilateral agreement with Ukraine is complex and doesn't explicitly use the 183-day rule common in OECD models. To clarify this, the Polish Ministry of Finance has advised that Ukrainian citizens can confirm their Polish tax residency by submitting a declaration of having their center of personal or economic interests in Poland. Upon submitting this declaration, they are considered Polish tax residents from their arrival date. Employers are generally not obligated to verify the truthfulness of such declarations unless they possess contrary information. This means working Ukrainians can potentially pay a reduced PIT rate, benefit from tax-free allowances and standard income-earning cost deductions, similar to Polish citizens.
Moore Polska has achieved a significant 10th place in the latest edition of the Auditor Ranking prepared by "Rzeczpospolita" and "Gazeta Giełdy i Inwestorów Parkiet." The company also secured the 10th
Moore Polska has achieved a significant 10th place in the latest edition of the Auditor Ranking prepared by "Rzeczpospolita" and "Gazeta Giełdy i Inwestorów Parkiet." The company also secured the 10th position in the ranking of auditors serving publicly traded companies.
As a family-owned firm formed from the merger of Morison Finansista and Moore Rewit, Moore Polska emphasizes responsible investment and stable business practices. They prioritize creating a supportive work environment and undertake transactions only when fully confident in their outcomes. This ethos extends to their client relationships, characterized by honesty, loyalty, attentiveness to needs, and a commitment to finding optimal solutions. Mutual understanding, unwavering ethics, and professionalism form the core of their operations, both internally and externally.
Moore Polska attributes its success to a business approach grounded in empathy, dialogue, and understanding people. They believe in collective strength and acknowledge that their 4-place climb in the recent ranking is a testament to the hard work and dedication of their entire team. While celebrating this achievement, Moore Polska is focused on future growth and continuous development, prioritizing their clients above all else. They invite potential business partners who seek understanding and expertise to connect with them.
Taxpayer, you can recover PIT from the sale of an apartment!
4/21/2022
On April 1, 2022, the Minister of Finance issued a general interpretation clarifying that expenses incurred for the repayment of a loan taken out to purchase a property that is subsequently sold can b
On April 1, 2022, the Minister of Finance issued a general interpretation clarifying that expenses incurred for the repayment of a loan taken out to purchase a property that is subsequently sold can be considered as expenditures for the taxpayer's own housing purposes, effective for the legal status until December 31, 2021. This "housing relief" exempts income from the sale of property if the proceeds are reinvested in one's own housing needs within three years. Previously, there was legal ambiguity, with some tax authorities and courts arguing that only the acquisition of a new property qualified, while others accepted loan repayments. This new interpretation confirms that using sale proceeds to repay a loan (including consolidation and refinancing loans, and their interest) used for the sold property's purchase constitutes a legitimate housing expenditure. Consequently, taxpayers who previously paid tax on such income and whose tax obligations have not expired can now claim a refund for overpaid tax. The interpretation specifies that various household appliances and custom-built furniture also fall under qualifying housing expenditures. The Ministry of Finance's stance means that tax calculations that did not account for loan repayments as a housing expense were incorrect, and taxpayers can seek redress.
On April 1, 2022, the Minister of Finance clarified that repaying a loan used to buy a property that is later sold qualifies as an expenditure for one's own housing purposes, thus eligible for tax relief. This "housing relief" exempts income from property sales if the proceeds are reinvested in housing needs within a three-year period. Previously, there was legal uncertainty, with differing court and tax authority opinions on whether loan repayments counted towards this purpose. This new general interpretation definitively states that using sale proceeds to repay the original loan (and its interest) for the sold property constitutes a valid housing expenditure. This allows taxpayers who previously paid tax on such income and whose tax obligations are not time-barred to claim a refund for overpaid tax. The interpretation also confirms that specific household appliances and custom-made furniture are also considered qualifying housing expenses. The Ministry of Finance's stance corrects prior incorrect tax assessments and offers a path to reclaim overpaid taxes.
Profitability Analysis – How to Interpret Indicators?
4/19/2022
Periodic analysis assesses whether current activities achieve intended goals and guides future improvements. Continuous indicator analysis enables faster identification of actions leading to positive
Periodic analysis assesses whether current activities achieve intended goals and guides future improvements. Continuous indicator analysis enables faster identification of actions leading to positive outcomes.
Profitability is a financial metric representing the return generated from business activities, specifically the speed of return on invested capital. Analyzing the ratio of results to balance sheet items reveals the current business situation and informs development strategies. Generally, higher profitability ratios indicate a stronger financial position, impacting the company and its stakeholders, including customers, lenders, and creditors.
Key profitability indicators include:
* **Return on Sales (ROS):** Measures profit generated from core operations. A higher ROS signifies greater profitability. A negative ROS indicates the company is not profitable from its primary activities, though other operations might be. * **Return on Assets (ROA):** Assesses how effectively a company uses its assets to generate profit. A higher ROA reflects a more favorable financial situation and indicates effective asset management and operational efficiency. * **Return on Equity (ROE):** Measures a company's ability to generate profits from shareholder investments. Primarily of interest to shareholders and investors, a higher ROE generally signifies a better financial standing.
The document outlines methods for valuing key financial items, particularly focusing on fair value and amortized cost. Fair value is defined by accounting law as the price at which an asset could be e
The document outlines methods for valuing key financial items, particularly focusing on fair value and amortized cost. Fair value is defined by accounting law as the price at which an asset could be exchanged or a liability settled in a market transaction between informed, independent parties. Reliable fair value can be determined through active market prices, estimations based on similar instruments, using valuation models with market-derived inputs, or generally accepted estimation methods. If reliable fair value cannot be determined, assets are valued at cost less impairments, and liabilities at amortized cost, with changes recognized in financial income or expenses. Subsequently revaluing to fair value involves transferring the difference between book value and fair value to the revaluation reserve. Amortized cost is the initial book value of a financial asset or liability, adjusted for principal repayments, the cumulative discount or premium amortized using the effective interest rate method, and impairments or provisions. The effective interest rate calculation includes all fees and commissions received by the bank associated with the creation of the amortized cost asset. The text also refers to related articles on specific provisions and collateral adjustments.
The document explains valuation methods for financial assets and liabilities, emphasizing fair value and amortized cost. Fair value is defined as the market price between willing, informed parties. It can be reliably determined using active market prices, estimations based on similar instruments, valuation models with market data, or accepted estimation methods. If fair value is undeterminable, assets are valued at cost less impairments, and liabilities at amortized cost. Subsequent revaluation to fair value impacts the revaluation reserve. Amortized cost is the initial book value adjusted for repayments, the effective interest rate method, and impairments. The effective interest rate encompasses all fees and commissions received by the bank. The text also directs readers to further information on provisions and collateral.
Independent Tax Function Audit (ITFA) is closely linked to the new Cooperation Program with the Head of the National Revenue Administration (KAS). ITFA is particularly relevant for taxpayers already i
Independent Tax Function Audit (ITFA) is closely linked to the new Cooperation Program with the Head of the National Revenue Administration (KAS). ITFA is particularly relevant for taxpayers already in this program and for those applying to join.
A cooperation agreement with the Head of KAS involves taxpayer transparency and increased responsibilities in managing their tax function, allowing for tax agreements on interpretations of tax law, transfer pricing, and tax liability forecasts. Benefits of such an agreement include tax settlement certainty and the non-accrual of penalty interest or initiation of tax offenses proceedings for legally effective declarations, provided statutory conditions are met. Taxpayers are also exempted from publishing their tax strategy.
To enter such an agreement, a taxpayer’s previous year’s revenue must exceed 50 million euros. The Head of KAS only enters agreements with taxpayers who have received a positive opinion from a preliminary audit conducted by this authority.
ITFA serves as a crucial tool for taxpayers to verify their tax function, tax settlement accuracy, and the effectiveness of their internal tax control frameworks. An independent tax auditor, such as a tax advisory firm, audit firm, tax advisor, or statutory auditor, conducts the ITFA. However, these entities must not have provided financial audit, tax, or legal advisory services to the taxpayer during the audited period or the audit itself, nor be related entities to the taxpayer or their service providers.
Moore Polska offers ITFA services, especially for participants and applicants of the Cooperation Program, adhering to the independence requirements. Their ITFA includes examining tax liability settlements, verifying tax procedures and internal control frameworks, and providing a comprehensive audit report with recommendations.
**Summary:**
The Independent Tax Function Audit (ITFA) is a new tool for taxpayers, closely tied to Poland's Cooperation Program with the Head of the National Revenue Administration (KAS). This program offers significant benefits to participating taxpayers, including tax settlement certainty, the ability to form tax agreements with KAS on various tax matters, and relief from penalty interest and tax offense proceedings under certain conditions. To qualify for the Cooperation Program, taxpayers must have substantial revenue and undergo a positive preliminary audit.
ITFA itself is vital for verifying a company's tax function, ensuring accurate tax settlements, and assessing the efficacy of internal tax control systems. The audit must be conducted by an independent entity, such as a tax advisory firm or a certified auditor, who has no prior conflict of interest with the taxpayer. Moore Polska provides these ITFA services, highlighting their role in helping taxpayers meet program requirements and improve their tax management processes. The audit involves a thorough review of tax settlements and procedures, culminating in a detailed report with actionable recommendations.
Investment agreements are a relatively new type of agreement introduced into the Tax Ordinance on January 1, 2022. These agreements are contracts between a taxpayer and a tax authority, specifically a
Investment agreements are a relatively new type of agreement introduced into the Tax Ordinance on January 1, 2022. These agreements are contracts between a taxpayer and a tax authority, specifically addressing the tax implications of an investor's actions. They aim to enhance tax law certainty and ensure consistent interpretation of tax regulations, ultimately increasing an investor's tax security.
To enter into an investment agreement, an entity must possess "investor" status, meaning they are planning or commencing an investment in Poland. An "investment" is defined as a significant commitment to fixed assets or intangible assets, such as establishing a new plant, expanding production, diversifying output, or fundamentally changing a production process. The acquisition of assets from a closing business is also included, provided it's from an unrelated entity and doesn't involve purchasing company shares. The minimum investment value is PLN 50,000,000, with foreign currency valuations based on the National Bank of Poland's exchange rate on the first day of the month of application.
These agreements can cover various aspects, including the assessment of transfer pricing in controlled transactions under arm's length conditions, the tax benefits of a proposed investment, the classification of excise goods or passenger cars according to the Harmonized System (HS), and the description and classification of goods or services with appropriate tax rates. They can also include interpretations of tax law not covered by the previous points. Investment agreements are seen as an alternative to other tax rulings like advance pricing agreements or individual tax interpretations, offering greater protection and security.
The process begins with an application from the investor or a group of investors. The application requires identifying information, contact details, a description of the investment, its declared value, the proposed duration of the agreement, and its subject matter. An initial fee of PLN 50,000 is required per applicant, with a main fee ranging from PLN 100,000 to PLN 500,000, as determined by the agreement itself. Importantly, applications and related documents can be in English to encourage foreign investment. These agreements are binding for up to 5 tax years.
Asset Valuation – Impairment Requisites according to KSR No. 4
3/24/2022
Which assets are subject to impairment testing?
The need to test assets for impairment applies to both assets used in operational activities and those for investment activities. It is irrelevant whet
Which assets are subject to impairment testing?
The need to test assets for impairment applies to both assets used in operational activities and those for investment activities. It is irrelevant whether they are ready for use or not.
External indicators of impairment include: circumstances suggesting receivables may not be collected due to external factors like technological, market, economic, or legal changes. This also covers situations where recovering costs for long-term services is uncertain due to disputed contracts, legal actions, or inability to fulfill contractual obligations. Changes in the timing of cash flows expected from an asset due to financial difficulties, significant market price declines beyond normal wear and tear, increases in supplier costs or decreases in customer prices, anticipated rises in selling costs, adverse changes in financial markets or investments, significant negative technological, market, economic, or legal shifts, or increases in market interest rates that impact discount rates can also signal impairment. A net book value exceeding the market or fair value of issued shares is another indicator.
Internal indicators of impairment include: evidence of physical damage to tangible assets, significant unfavorable changes in how assets are used or will be used, the company’s intention to discontinue or restructure activities related to certain assets, plans to dispose of or liquidate an asset earlier than expected, or evidence that the economic benefits from an asset's use are or will be worse than anticipated.
Upon identifying potential impairment indicators, entities must identify individual cash-generating assets, assess for impairment, and make necessary write-downs. They also need to identify group cash-generating assets, assess for impairment, and make write-downs as needed.
Summary:
Entities must conduct impairment testing on all assets, whether used operationally or for investment, regardless of their readiness for use. Impairment indicators can stem from both external and internal sources. External signs include economic downturns, legal issues, market volatility, technological obsolescence, and changes in interest rates. Internal indicators focus on the physical condition of assets, changes in their usage, management's intentions to discontinue or sell assets, and underperformance compared to expectations. When impairment indicators are present, companies must identify cash-generating assets (individually or in groups), assess for value loss, and record necessary impairment charges to adjust asset values to their recoverable amounts.
Be honest with yourself. True leadership requires self-reflection, acknowledging both strengths and weaknesses. A good leader admits their mistakes, accepts consequences, and prioritizes the team's an
Be honest with yourself. True leadership requires self-reflection, acknowledging both strengths and weaknesses. A good leader admits their mistakes, accepts consequences, and prioritizes the team's and company's well-being over personal pride. They understand that no one is perfect and don't claim a monopoly on knowledge or authority.
Genuine praise and interest are vital. Recognizing even small successes motivates teams, as people appreciate being valued. This sincerity should extend beyond the workplace, fostering authentic relationships. A good leader doesn't seek admiration but cultivates mutual understanding and engagement within their team, treating individuals as valuable contributors, not mere tools.
In difficult situations, honest communication is key. A good leader addresses errors constructively, aiming to motivate improvement rather than causing demoralization or resentment. This involves delivering criticism with empathy and politeness, focusing on understanding the root cause of the problem. Starting with praise and seeking the employee's perspective can facilitate a more receptive approach to feedback. Ultimately, a good leader guides their team through failures, learning from mistakes and inspiring future success.
Moore Polska emphasizes sincerity in its work, offering honest advice and solutions for business partnerships.
Act of March 12, 2022, on assistance to citizens of Ukraine in connection with the armed conflict in the territory of that state (Journal of Laws 2022.583)
The document prepared by the Moore Polska T
Act of March 12, 2022, on assistance to citizens of Ukraine in connection with the armed conflict in the territory of that state (Journal of Laws 2022.583)
The document prepared by the Moore Polska Team contains information on:
* Access to the labor market for citizens of Ukraine * Legality of stay under the special act * Work legalization
All details can be found HERE.
For any additional questions, we cordially invite you to contact us.
citizens, Ukraine, employment
We invite you to contact us
katarzyna.ochnicka@moorepolska.pl
A summary of the provided content:
This document outlines key information for Ukrainian citizens arriving in Poland due to the ongoing conflict. Prepared by Moore Polska, it details their access to the Polish labor market, covering the legal basis for their stay under a special act and the process of legalizing their employment. The article emphasizes the availability of comprehensive details through a provided link. It also encourages Ukrainian citizens and employers seeking to hire them to reach out with any questions. The core topics addressed are the rights and procedures for Ukrainian citizens regarding employment in Poland, facilitated by this special legislation. The contact information for further inquiries is also provided.
A new amendment to the Polish Deal tax system came into effect on March 10, 2022, with two primary objectives: clarifying the application of the PIT-2 form and regulating the extension of income tax a
A new amendment to the Polish Deal tax system came into effect on March 10, 2022, with two primary objectives: clarifying the application of the PIT-2 form and regulating the extension of income tax advance payment deadlines into law.
Regarding the PIT-2 form, employers are now obligated to apply the monthly tax-reducing amount of PLN 425 immediately upon receiving a PIT-2 declaration at any point during the year, effective from the month following receipt. A previously submitted PIT-2 remains valid for subsequent years unless the underlying circumstances change. Previously, this reduction was only applicable if the PIT-2 was submitted before the first payment of the tax year.
The amendment also introduces statutory provisions for extending income tax advance payment deadlines for income earned in 2022 up to PLN 12,800 gross per month. This applies to income tax advances from employment, service contracts, and certain social security benefits. Advance payments are now calculated twice: based on current rules (no health insurance deduction, higher tax-reducing amount, middle-class relief) and pre-December 31, 2021 rules (partial health insurance deduction, lower tax-reducing amount). The lower advance payment is collected, with the difference deferred. If no months with a lower current calculation occur, the remaining tax is due with the annual tax return. Employees, including those who have submitted PIT-2, can now request not to have their advance payment deadlines extended, effective from the month following the request.
We invite you to familiarize yourself with the previous articles in the "Get to know IP BOX with us!" series. This article explains the basic principles of expectancy when using IP BOX, based on tax e
We invite you to familiarize yourself with the previous articles in the "Get to know IP BOX with us!" series. This article explains the basic principles of expectancy when using IP BOX, based on tax explanations from July 15, 2019.
Expectancy refers to the waiting period for protection to be granted. For taxpayers starting to use IP BOX preferences, this period begins when an application for intellectual property rights protection is filed. This allows for conditional use of preferential taxation due to the lengthy process of granting protection. Therefore, a 5% tax rate can be applied from the moment of filing an application, even before the right is registered.
If the relevant authority refuses protection, rejects the application, or denies registration, the taxpayer must pay tax at the standard rates (9% or 19% for CIT, or 18/32% or 19% for PIT). The difference between the tax already paid at 5% and the amount due under standard rates will need to be settled.
In certain situations, like an appeal procedure, the expectancy period can be extended until a final decision is made. However, if protection is ultimately denied, the taxpayer must pay taxes according to their applicable business tax rates.
Copyrights to computer programs are an exception as they are not registered and protection is granted by law from the moment of creation, not upon application.
We encourage you to contact us with any further questions and to stay tuned for the rest of the IP BOX series.
The BDO (Database on Products and Packaging and Waste Management) is a system established by Polish waste management law to collect data on waste and manage registration, record-keeping, and reporting
The BDO (Database on Products and Packaging and Waste Management) is a system established by Polish waste management law to collect data on waste and manage registration, record-keeping, and reporting obligations. Businesses that generate, transport, process, or manage waste are generally required to register. This includes entities that import products in packaging, tires, lubricants, vehicles, batteries, accumulators, or electrical and electronic equipment into Poland. Critically, businesses introducing any products in packaging into the country, even simple palletized goods wrapped in stretch film, must register.
However, sole proprietorships generating only municipal waste, which is collected by the local waste management system, are exempt. This means businesses like accounting firms or law offices, which produce typical household waste, are not typically subject to BDO registration. The registration process is entirely electronic, handled by regional marshals, and requires a trusted profile login. Key company details and the basis for registration must be provided. The registration fee is 100 PLN for micro-enterprises and 300 PLN for others, with annual fees of the same amount. Registered businesses must display their BDO registration number on all official documents. Failure to comply can result in penalties, including fines up to 1,000,000 PLN, for activities such as operating without registration or omitting the BDO number from documents.
The article discusses the nomenclature of job positions and categorizes them into four levels: senior management (CEOs, presidents), junior management (department/team heads), specialists, and support
The article discusses the nomenclature of job positions and categorizes them into four levels: senior management (CEOs, presidents), junior management (department/team heads), specialists, and support staff. It highlights the distinction between a manager and a leader, emphasizing that a leader actively nurtures their team.
A 2020 Grant Thornton study revealed that globally, only 29% of women hold senior management positions, with a mere 20% in CEO roles and 18% as COOs. McKinsey & Company's 2021 research indicates that for every 100 men promoted to management, only 72 women are promoted, leaving most women at lower organizational levels. This suggests a continued masculinization of top positions, with men dominating roles like CFO, CIO, and CMO. In Poland, a 2019 Eurostat study found women held 47% of managerial positions, ranking second in Europe, but only 13% of board seats in large listed companies, below the EU average.
Surprisingly, Africa leads with 38% of women in senior management, followed by Western Europe and ASEAN countries at 35%. Latin America has 33%, the EU and Southern Europe 30%, and North America and APAC lag behind. Recent reforms promoting gender equality in Africa and the #MeToo movement potentially influencing organizational changes in Latin America are cited as reasons for their progress. Medium-sized companies globally show the highest employment of women in senior roles, with a stable 87% in 2019.
Despite a decade of progress, the article argues that the 9% increase in women in management is insufficient given the pace of global change, suggesting stagnation. It advocates for greater openness and diversity of thought, not forced parity, recognizing the value of women in leadership. Moore Polska is presented as an example of gender balance, with women constituting the majority of employees and senior management.
The article emphasizes the critical importance of maintaining accurate and separate accounting records for taxpayers utilizing the IP BOX tax incentive. While no specific template for IP BOX record-ke
The article emphasizes the critical importance of maintaining accurate and separate accounting records for taxpayers utilizing the IP BOX tax incentive. While no specific template for IP BOX record-keeping exists, the law mandates that taxpayers clearly identify each qualified intellectual property right within their accounting books. This includes isolating revenues, costs, and income attributable to each IP. Failure to do so, or if the records do not allow for the determination of income from IP, can lead to the loss of the reduced tax rate.
Tax authorities' guidelines further underscore the need for distinct records for IP BOX-related income and expenses, particularly research and development costs. Taxpayers should proactively plan and implement their accounting systems to meet these informational needs, considering budget allocations, tax regulations, and technical capabilities. For those using the simplified tax ledger (PKPiR), a well-archived spreadsheet can suffice. Specific attention must be paid to employee costs, requiring detailed project descriptions, timelines, personnel involvement, and the allocation of remuneration to R&D activities versus other duties, as stipulated in employment contracts and job descriptions. Proper record-keeping is essential to avoid tax authority challenges and to benefit from the IP BOX regime.
It is a universally acknowledged truth that the world cannot exist without women. When speaking about Moore Polska, this statement is not an exaggeration in any way. Women are not only the foundation
It is a universally acknowledged truth that the world cannot exist without women. When speaking about Moore Polska, this statement is not an exaggeration in any way. Women are not only the foundation of the company's operations but also its founders. The history of Moore Polska is a story of the strength and determination of intelligent women who were not afraid to make difficult decisions and often took risks.
In the late 1980s, Poland's free-market economy began to develop intensely. Private businesses emerged, and talented managers sought personal fulfillment and development. It is no surprise that those with professional experience made bold decisions to create their own companies. This was the case for Irena Leczyk and her two daughters, Roma Żuchowska and Lidia Skudławska, currently Managing Partner of Moore Polska. Their determination, knowledge, and experience led to the debut of FINANSISTA in 1989, a company that quickly solidified its position as a synonym for professional client service, punctuality, and excellent execution.
Shortly after, in 1992, WIT accounting firm debuted, founded by Lucyna Witek, a statutory auditor, after her return from a diplomatic post in Baghdad. WIT became the genesis of the family company REWIT, established in 1994 through the hard work of Lucyna's family. REWIT soon became one of the most reputable and respected firms in the market.
Women have been the strength of Moore Polska from the beginning. They are open to new challenges, dialogue, and make bold decisions. Their experience educates subsequent generations in accounting, auditing, and business consulting. They look bravely to the future while remembering their history. They are the bedrock of the company, employing over 220 experts, including 30 statutory auditors and 3 tax advisors, with women comprising 87% of the staff and the majority in managerial positions. The founders' perseverance, hard work, and the strength of the teams they built have resulted in a strong auditing firm with an established market position. Moore Polska celebrates its female team, acknowledging their continuous contribution to the company's development and wishing them further success.
Moore Polska is a testament to the strength and vision of women. Founded by Irena Leczyk and her daughters in 1989, and influenced by Lucyna Witek’s accounting firm established in 1992, the company’s history is deeply intertwined with female leadership and determination. Women form the backbone of Moore Polska, constituting 87% of its workforce and a majority in management roles. This female-led environment fosters growth, innovation, and a commitment to excellence in auditing, accounting, and consulting services. The company acknowledges the significant contributions of its female employees, recognizing their role in its success and promising future.
This article, the third in a series on IP BOX, delves into the tax settlement aspects of this intellectual property incentive. It explains that the taxable base for IP BOX is the sum of income from qu
This article, the third in a series on IP BOX, delves into the tax settlement aspects of this intellectual property incentive. It explains that the taxable base for IP BOX is the sum of income from qualified intellectual property rights earned during the tax year, calculated as the product of income from specific IP rights and the NEXUS indicator. The NEXUS indicator, crucial for IP BOX, is calculated separately for each qualified IP right and represents the ratio of taxpayer's costs related to R&D activities (direct R&D, acquisition of results from unrelated or related entities, and acquisition of the IP right itself) to the total costs. This indicator cannot exceed 1.
The article clarifies that income covered by IP BOX is not included when determining the base for solidarity tax. It also details the annual tax return process, noting that no separate notifications are required, with settlements made in the annual tax return using the PIT/IP annex. Overpaid advance payments are generally refunded. Finally, it mentions that in specific cases related to COVID-19 countermeasures, taxpayers may be eligible to apply the 5% tax rate for IP BOX during the tax year.
This article aims to assist you in assessing the eligibility of your business activities for preferential tax treatment.
We have prepared a survey with six general questions to help you preliminarily
This article aims to assist you in assessing the eligibility of your business activities for preferential tax treatment.
We have prepared a survey with six general questions to help you preliminarily evaluate the possibility of applying the IP BOX regime.
Before answering the questions, we invite you to review our previous article in this series, available HERE.
Should you have any questions, concerns, or wish to collaborate with us regarding IP BOX, we warmly encourage you to get in touch!
The survey regarding IP BOX eligibility is available HERE.
For any further questions, please do not hesitate to contact us.
R&D, IP BOX, taxes
Contact us
agnieszka.drozdz-wilk@moorepolska.pl
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This article provides guidance on evaluating your business's eligibility for the preferential IP BOX tax regime. A six-question survey is included to help you conduct a preliminary assessment. Before proceeding, it is recommended to read a previous article in the series for context. The authors encourage readers with questions, concerns, or an interest in collaborating on IP BOX matters to reach out. The survey itself is also accessible via a provided link. The article concludes by reiterating the invitation to contact the authors for additional assistance, highlighting relevant keywords such as R&D and IP BOX. The contact email is provided for direct communication.
A good leader carries immense responsibility, not just for performance but crucially for their team's success. Effective teamwork leads to efficient work, timely results, and ultimately, company succe
A good leader carries immense responsibility, not just for performance but crucially for their team's success. Effective teamwork leads to efficient work, timely results, and ultimately, company success. Leaders need to command respect through charisma and emotional intelligence, paired with hard work, good habits, and systematic actions. They listen, understand their team, and are creative, logical thinkers who grasp the needs of both individuals and the organization. Good leaders foster success and well-being through dialogue and encouragement, not punishment or degradation, while remaining productive and outcome-focused.
True leadership isn't about authoritarian commands or diminishing employees. Strength lies in empowering others to find solutions, not dictating them. A good leader listens, analyzes, and shares insights constructively, using even criticism as a teaching opportunity. They can effectively argue their point and know when to say "no" for the good of the team and company, acting fairly in all circumstances. Their proposals are accepted not through dictation, but through knowledge and strong communication skills.
Partnership is key to Moore Polska's success, extending from client relations to internal team collaboration. Leaders at Moore Polska unite employees and guide them through challenging projects, fostering healthy structures where dialogue benefits business relationships. This makes Moore Polska an excellent business partner, adept at listening, learning, and acting for client benefit.
IP BOX is a tax preference available to individuals and legal entities that allows them to pay tax at a reduced rate of 5%. To qualify, taxpayers must be engaged in research and development (R&D) acti
IP BOX is a tax preference available to individuals and legal entities that allows them to pay tax at a reduced rate of 5%. To qualify, taxpayers must be engaged in research and development (R&D) activities. R&D is defined as creative activity involving scientific research or development work, systematically undertaken to increase knowledge and use it to create new applications. This can include scientific research alone, development work alone, or both.
Eligible income must stem from qualified intellectual property (IP) rights. These include patents, utility model protection rights, industrial design registration rights, integrated circuit topography registration rights, plant variety protection rights, and computer software copyrights. Crucially, these rights must be legally protected and must have been created, developed, or improved by the taxpayer through their R&D activities. Income from qualified IP can arise from licensing fees, sales of the IP, IP incorporated into product pricing, or compensation for IP infringement. Taxpayers can deduct qualified costs directly related to the creation, development, or improvement of these IP rights, such as materials, salaries of R&D staff, and patent maintenance costs.
IP BOX is a beneficial tax incentive for businesses investing in innovation, offering a significant reduction in tax liability on income generated from their intellectual property.
Employee, you can also submit PIT-2 during the year!
2/16/2022
On January 28, 2022, a bill amending the "Polski Ład" (Polish Deal) was sent to the Senate. This article explains the PIT-2 statement, a voluntary declaration by employees to their employers to reduce
On January 28, 2022, a bill amending the "Polski Ład" (Polish Deal) was sent to the Senate. This article explains the PIT-2 statement, a voluntary declaration by employees to their employers to reduce their monthly income tax advance. By submitting PIT-2, an employer lowers the tax advance by 1/12 of the tax-reducing amount. In 2022, this amount is PLN 5,100 annually, meaning a monthly reduction of PLN 425.
PIT-2 is not applicable to individuals earning income from civil law contracts like service agreements or works contracts. It's crucial for employees with multiple employment contracts, business activity, or pensions to submit PIT-2 to only one payer to avoid underpayment penalties during annual tax settlement. The increased significance of PIT-2 in 2022 stems from the "Polski Ład," which raised the annual tax-reducing amount from PLN 525.12 to PLN 5,100.
PIT-2 is typically submitted before starting employment and remains valid until revoked. However, the recent amendment allows submission during the year, with the reduction applied from the following month. The statement confirms the employee's eligibility for the tax reduction at that specific workplace. A key change in the amended PIT-2 addresses individuals receiving pensions or annuities, allowing them to opt out of the tax-reducing amount through a specific application to the pension authority. If a PIT-2 is not submitted, employees can still claim the tax-reducing amount during their annual tax return. It's important to distinguish PIT-2 from the "middle-class relief" as they are separate tax preferences.
We encourage you to also read the first article on BANK ACCOUNTING AND THE CREATION OF SPECIFIC RESERVES.
The Regulation of the Minister of Finance of December 16, 2008, on the principles of creating
We encourage you to also read the first article on BANK ACCOUNTING AND THE CREATION OF SPECIFIC RESERVES.
The Regulation of the Minister of Finance of December 16, 2008, on the principles of creating specific reserves for risks associated with bank activities (Journal of Laws of 2021, item 1238), hereinafter referred to as the Regulation, grants banks the right, not the obligation, to use deductions from the base for calculating specific reserves.
A bank may decide not to consider the value of accepted collateral in the process of creating specific reserves. Nevertheless, the applicable rules in this regard should result from the adopted accounting policy and internal bank regulations. In accordance with Article 10 of the Accounting Act, entities should have documentation describing their adopted accounting principles (policy), including those concerning methods of valuing assets and liabilities and determining financial results. The adopted principles should be applied consistently and invariantly, which means the need to eliminate discretion when applying deductions.
The basis for creating specific reserves for risks related to credit exposures classified as "under observation" or "doubtful" groups, and for receivables adjustments related to these credit exposures (interest), can be reduced by the value of collateral specified in Annex No. 2, paragraph 3 of the Regulation. Banks review and update the value of collateral by which the basis for creating specific reserves and receivables adjustments related to credit exposures has been reduced, following the procedure applicable to the review and classification of credit exposures.
If a bank has credit exposures to a debtor, which include both balance sheet receivables and off-balance sheet commitments, and unless the contract terms state otherwise, the held collateral is first considered in determining the basis for creating specific reserves for balance sheet receivables and receivables adjustments related to credit exposures.
What is important?
Deductions can be made if, on the date of review, all the following conditions are met: The value of the collateral is recoverable, to the extent taken into account for the deduction from the base for creating reserves and receivables adjustments related to credit exposures, during potential enforcement proceedings, considering legal, economic, and factual limitations that may affect the bank's actual ability to satisfy itself from the collateral; The collateral is not or has not been used to substitute the assessment of the debtor's economic and financial situation with the assessment of the collateral issuer's economic and financial situation.
The deduction from the base for creating specific reserves and receivables adjustments related to credit exposures can be applied when the bank holds the following collateral: 1) Mortgages – the amount cannot exceed the registered value in the land and mortgage register and 50% of the value determined by a valuator. If the valuator's appraisal does not account for prior encumbrances, this value should first be reduced by the total amount of these encumbrances, and 60% of the bank-mortgage value of the property; 2) Transfer of ownership of movable property – cannot exceed 50% of the net sale value of the movable property and 50% of the original secured amount; 3) Transfer of ownership of securities, except those issued by the State Treasury, the National Bank of Poland, central banks, or governments of member states of the Organisation for Economic Co-operation and Development, and other banks – cannot exceed 50% of their fair value; 4) Pledge on a sea or air vessel – cannot exceed 50% of the valuator's appraisal and 50% of the original secured amount; 5) Registered pledge on rights from securities – cannot exceed 50% of their fair value; 6) Registered pledge on movable property – cannot exceed 50% of the net sale value of the movable property and 50% of the original secured amount.
In addition to the above limitations, banks are obliged to apply deduction limits, which since April 17, 2020, are: For credit exposures secured by a mortgage, by which the base for creating specific reserves and receivables adjustments related to credit exposures can be reduced, the deduction amount cannot be greater than the limit for specific periods of payment arrears specified below: For credit exposures for which collateral mentioned in paragraph 3 of Annex No. 2 to the Regulation has been applied, excluding those specified in point 1, the deduction from the basis for creating specific reserves and receivables adjustments related to credit exposures cannot be greater than the deduction limit for specific periods of payment arrears, specified below:
In practice, the most commonly used collateral for deductions, and also widely considered the best protection for receivables, is mortgages, transfer of ownership of movable property (fiduciary assignment, registered bank pledge), and guarantees or endorsements from a recognized institution (guarantee funds, BGK).
What requires special attention? The Regulation amendments that came into effect on April 17, 2020, introduced: The possibility of counting the number of days in arrears according to the second/amended repayment schedule occurs if the first schedule was concluded before the effective date of this Regulation (amending), and the second schedule was concluded between April 17 and December 31, 2020; In the case of subsequent changes to repayment dates (schedules), arrears in credit exposure repayment are counted according to the repayment dates (schedule) established in the second change, meaning the second schedule applies for the entire "life" of the exposure; Extension of the period for banks to include credit collateral for the purpose of reducing the base for creating specific reserves, i.e., changes to the limits specified in Annex No. 3. The provisions of the amending Regulation indicate that the changes apply for the first time to specific reserves and receivables adjustments related to credit exposures created after the effective date of this Regulation – which means that banks could not resolve specific reserves created before April 17, 2020, due to changes related to limits, in connection with the extension of arrears periods.
What are the most common irregularities? 1) Application of deductions from the base for creating reserves/adjustments based on mortgage collateral when: The property has significant restrictions on its disposal in Section III, i.e., prohibition of sale and/or further encumbrance, in connection with ongoing court proceedings, e.g., due to a fraudulent conveyance action; The mortgage has been deregistered due to a completed sale through enforcement proceedings, and the settlement with the Bank has not yet occurred (funds remain in court deposit through the ongoing distribution procedure by a receiver). 2) When determining the value of real estate: Encumbrances on the property with limited property rights affecting its value change have not been taken into account. Article 244 § 1 of the Civil Code indicates that limited property rights include, among others, usufruct (most commonly for housing or utilities); The appraisal report covers more than one land and mortgage register with a combined valuation, i.e., it does not specify separate valuations for individual properties, which means there is no possibility of reliably determining the amount of deduction from the reserve calculation base. 3) Bank's discretion in applying deductions (e.g., deduction applied in one case, not in another) – a practice inconsistent with the adopted accounting policy and other internal regulations.
Summary As mentioned at the beginning, the regulations on the creation of specific reserves and receivables adjustments speak of the possibility, not the obligation, to make deductions from the base for calculating reserves by the value of accepted collateral. Although rare, situations occur where banks accept collateral that allows for a reduction in the base for creating specific reserves but do not utilize this possibility. This situation most often concerns small cooperative banks, which, having low equity and simultaneously a high rate of return, see these "hidden" reserves as an additional capital buffer protecting against negative phenomena in the future. Nevertheless, the principles applied in this regard should stem from the adopted accounting policy and internal bank regulations.
For additional questions, please feel free to contact us.
banking accounting,specific reserves,collateral
Please contact us
michal.ossowski@moorepolska.pl
Banks have the right, but not the obligation, to reduce the base for calculating specific reserves for credit risks by the value of accepted collateral, as per the Minister of Finance's regulation. This deduction is optional and must be consistently applied according to the bank's accounting policy and internal regulations. Collateral must be recoverable in enforcement proceedings, considering all limitations, and not used to substitute a debtor's financial assessment. Specific collateral types, like mortgages and movable property transfers, have valuation limits. Amendments in April 2020 extended the period for including collateral and adjusted arrears calculation rules, with new rules applying to reserves created after the effective date. Common irregularities include applying deductions with unaddressed property encumbrances, incorrect property valuation, and inconsistent application of deductions due to bank discretion. Some small banks may forgo deductions to build "hidden" capital reserves.
The Anti-Inflation Shield 2.0, effective February 1, 2022, introduces reduced VAT rates and a 0% VAT rate on specific goods and energy. Foodstuffs previously taxed at 5% VAT, including various meats,
The Anti-Inflation Shield 2.0, effective February 1, 2022, introduces reduced VAT rates and a 0% VAT rate on specific goods and energy. Foodstuffs previously taxed at 5% VAT, including various meats, dairy, vegetables, fruits, grains, edible fats, oils, and water, will now have a 0% VAT rate. This also applies to soil improvers, fertilizers, plant protection products, horticultural soil, and natural gas.
Additionally, electricity and heat will be subject to a 5% VAT rate from February 1 to July 31, 2022. Motor fuels, including gasoline, diesel, and their bio-component mixtures, as well as natural gas and other gaseous hydrocarbons intended for combustion engines, will also benefit from reduced VAT rates.
Sellers of these goods are obligated to clearly display information about the reduced or zero VAT rates on their products from February 1 to July 31, 2022. Specific disclosure requirements apply to natural gas sales, requiring sellers to provide information with invoices or separately. Businesses using cash registers must update their systems to reflect these new VAT rates. The Ministry of Finance also noted that Binding Rate Information (WIS) for goods affected by these VAT reductions will expire on February 1, 2022.
Analysis of Financial Statements Prepared in ESEF Format
1/27/2022
Companies issuing securities on regulated markets are required to submit annual financial reports, including financial statements, management reports, and consolidated financial statements, in the Eur
Companies issuing securities on regulated markets are required to submit annual financial reports, including financial statements, management reports, and consolidated financial statements, in the European Single Electronic Format (ESEF), which utilizes XHTML. Consolidated financial statements prepared according to IFRS must also be tagged using iXBRL or XBRL tags. While not mandated, other entities preparing financial statements under IFRS can also opt for XHTML format and iXBRL tagging for consolidated statements.
The management bears the responsibility for preparing these ESEF-compliant reports and for implementing internal controls to ensure accuracy and freedom from material misstatements. Supervisory boards are responsible for overseeing the entire financial reporting process.
Auditors reviewing ESEF reports, for periods ending December 31, 2021, and later, must adhere to specific national standards. They need to obtain reasonable assurance that reports are ESEF-compliant and accurately tagged according to Regulation 2019/815. This involves understanding IT general controls and application controls. Auditors specifically assess risks related to the completeness and accuracy of tagging, ensuring all required disclosures and figures are correctly tagged with appropriate taxonomy elements and that extended taxonomy elements are properly anchored. Audit findings regarding iXBRL tagging are reported in the auditor's report.
In engineering, only 15% of financial results stem directly from technical expertise. This may seem surprising for a specialized profession, but the remaining 85% of succe
Hard Skills and Soft Skills
In engineering, only 15% of financial results stem directly from technical expertise. This may seem surprising for a specialized profession, but the remaining 85% of success, even here, is driven by leadership, communication, and personality.
This highlights the importance of clear communication, leadership abilities, and the capacity to inspire enthusiasm, all crucial for a good leader. While exceptional specialists are necessary, their profound knowledge doesn't always translate into strong interpersonal skills. A good manager must possess these, ideally combining technical competence with effective communication.
Vision: A Leader's Greatest Asset
The terms "manager" and "leader" are often used interchangeably, but a subtle difference exists. A manager plans, controls, and ensures tasks are completed on time. A manager, however, is a leader with a broader scope.
A visionary leader is paramount, developing initiatives to grow the company and improve its performance. They proactively share plans, understand business processes, identify team talents, recruit complementary staff, and provide support and motivation. Good leaders foster professional and personal growth within their teams.
Why Strive to Be a Good Leader?
A 2021 Polish job satisfaction survey revealed that employees are happier and more productive under good leadership, with 64% citing it as the most crucial factor. Job stability and problem-solving ranked second.
The ideal leader, according to employees, possesses high moral and ethical standards, respects others, and is open to new ideas and employee initiatives. They provide space for learning from mistakes, communicate openly, foster mutual respect, and create an environment where problems can be discussed and resolved with support. Leaders who identify with the organization, build a sense of belonging, base decisions on facts, and are invested in team development are highly valued. The best leaders encourage training and knowledge expansion, cultivating relationships that foster loyalty.
Effective leadership requires innate qualities combined with a commitment to continuous self-improvement, blending expertise with psychological insight, mediation, care, and role modeling.
A Good Leader is a Good Business Partner
Being a business partner involves more than just conveying expertise; it means listening to clients, prioritizing their needs, and responding to them. A good business partner, therefore, is a good leader who aids clients and employees in navigating a changing world.
If you are seeking a good business partner, contact us.
Contributions to the Company Social Benefits Fund in 2022
1/25/2022
The Act of March 4, 1994, outlines the regulations for the Company Social Benefits Fund (ZFŚS) in Poland. Employers operating as budgetary units and local government budgetary establishments must crea
The Act of March 4, 1994, outlines the regulations for the Company Social Benefits Fund (ZFŚS) in Poland. Employers operating as budgetary units and local government budgetary establishments must create the fund regardless of the number of employees. Other employers' obligations depend on their employee count as of January 1, 2022. Employers with at least 50 full-time employees must create a ZFŚS, while those with 20 to 49 employees must do so if a trade union requests it. Employers with fewer than 50 employees can opt out of creating the fund and paying holiday benefits.
Mandatory ZFŚS contributions are specified for employees in normal or special conditions, as well as for juvenile workers. The base for calculating contributions in 2022 is the average monthly wage in the national economy for the second half of 2019, which is 4,434.58 PLN. Contributions range from 1,662.97 PLN for employees in normal conditions to varying amounts for those in arduous conditions or juvenile trainees. Additional contributions are made for disabled employees, retirees under the employer's social care, and employers operating nurseries or children's clubs.
The allocation of subsidized services and benefits depends on the individual's living, family, and financial situation, as detailed in the employer's regulations. Employers obligated to establish a ZFŚS can lower the fund contribution with union or employee representative agreement. Decisions regarding ZFŚS, including not creating a fund or paying holiday benefits, must be made by the end of January 2022.
Holiday benefits apply to firms with fewer than 50 employees or those who opted out of ZFŚS, paid once a year to employees taking at least 14 consecutive days of vacation, up to a maximum of 1,662.97 PLN in 2022. These differ from "vacation under the pear tree" benefits (wczasy pod gruszą), which are funded by the ZFŚS and based on financial need. Holiday benefits, in contrast, do not consider financial status but require 14 days of vacation. Holiday benefits are exempt from social security contributions, unlike discretionary vacation bonuses.
Financial services - how does the Polish Deal affect their settlement?
1/25/2022
Effective January 1, 2022, taxpayers can opt out of VAT exemptions for certain financial services in Poland.
Currently, financial services are generally VAT exempt. The Polish Deal introduces the opt
Effective January 1, 2022, taxpayers can opt out of VAT exemptions for certain financial services in Poland.
Currently, financial services are generally VAT exempt. The Polish Deal introduces the option for taxpayers to choose taxation for services provided to other taxpayers. This opt-out applies to all financial services provided to taxpayers; selective application is not permitted. Services provided to individuals (B2C) remain mandatorily exempt.
To opt for taxation, taxpayers must notify the head of the tax office before the start of the tax period and register as an active VAT payer. They can revert to VAT exemption after two years from the initial taxation period by notifying the tax office before the relevant tax period. Re-electing taxation is possible only after another two years of being exempt.
The changes affect specific financial services listed in the VAT Act, including currency transactions, investment fund management, lending services, guarantees, deposit services, transactions involving shares in companies, and transactions in financial instruments (excluding storage and management).
Opting for VAT taxation allows taxpayers to deduct VAT on purchases related to taxable activities, unlike the VAT exemption, which does not permit such deductions.
The amendment to the Act on Counteracting Money Laundering and Terrorism Financing (AML Act) came into full effect on October 31, 2021. AML, or Anti-Money Laundering, is a core obligation for Polish e
The amendment to the Act on Counteracting Money Laundering and Terrorism Financing (AML Act) came into full effect on October 31, 2021. AML, or Anti-Money Laundering, is a core obligation for Polish entrepreneurs, stemming from EU law, and aims to prevent the circulation of illegally sourced assets and the financing of criminal activities. Businesses must possess accurate information about their contractors to avoid potential repercussions for oversight in detecting and reporting financial crimes.
The AML Act applies to "obliged institutions," including financial and insurance entities, as well as other businesses like accounting service providers, real estate agents, notaries, lawyers (with limitations), offshore and company service providers, and businesses accepting cash payments of €10,000 or more.
An AML procedure is a set of rules tailored to the nature and size of a business and requires approval from a member of the management board or an employee with relevant expertise. It should cover risk assessment, prevention methods, financial security measures, and internal reporting procedures. Special emphasis should be placed on training employees to properly adhere to the AML procedure. Identifying and verifying the beneficial owner, who controls the transactions, is vital and their identity is disclosed in the Central Register of Beneficial Owners (CRBR). Failure to comply with the AML Act can result in administrative penalties, including publication of violations, orders to cease specific actions, license revocation, bans on holding managerial positions, and fines of up to €1,000,000.
A year after signing the franchise agreement in September, the company has experienced significant growth, exceeding 23%, and established collaborations with numerous international clients, earning th
A year after signing the franchise agreement in September, the company has experienced significant growth, exceeding 23%, and established collaborations with numerous international clients, earning their trust through its dynamic development. This success has fueled further progress, leading to a merger between Moore Rewit and Morison Finansista to form Moore Polska, one of the largest mergers of medium-sized family-owned audit firms in Poland.
This merger aims to strengthen the companies in management, customer service, audit, tax, and consulting. Lidia Skudławska, the new Managing Partner from Morison Finansista, brings expertise, client understanding, and dedication to the company. The integration process will be a primary focus in 2022, transforming the family businesses into a larger entity open to new partners.
The company's vision is to become the most respected and empathetic partner in the audit, tax advisory, accounting, and business consulting market. Achieving this ambitious goal is made possible by the contributions of employees, partners, suppliers, and especially clients. The company expresses its gratitude and commits to pursuing future challenges.
Moore Polska and Bilander Group look to the future together.
1/20/2022
Thanks to existing Bilander users and cooperation with Moore Polska, Bilander Group has expanded its BILANDER technology with the FK model, designed for accounting offices, audit firms, and their clie
Thanks to existing Bilander users and cooperation with Moore Polska, Bilander Group has expanded its BILANDER technology with the FK model, designed for accounting offices, audit firms, and their clients. The FK model, based on BILANDER technology, enables automatic data retrieval from accounting systems, 24/7 data access via a web browser, integration of data from various IT systems, and creation of analyses combining financial and operational data. Clients' independent access to transactions streamlines information access and allows accountants to focus on their core duties.
Piotr Witek, President of Moore Polska, stated that the combination of substantive and technological knowledge will provide existing and new clients with a new quality of service. One such service is the implementation of an analytical chart of accounts for monitoring project profitability and the margins of individual business activities. By incorporating data such as work time, detailed financial analysis of projects and their stages becomes possible. Piotr Janczyk, President of Bilander Group, added that in cooperation with Moore Polska, they aim to make the technology available to practically every company using full accounting, promoting profitability and margin analyses, particularly crucial in today's volatile and competitive market. Moore Polska, with over 30 years of experience, emphasizes quality in information delivery and building trust with its 1,000 clients, supported by over 220 experts. Bilander Group, a Polish business intelligence software producer, has been developing BILANDER technology since 2008.
Below is a list of the most important changes related to invoicing that came into effect on January 1, 2022.
1. Earlier Invoice Issuance
Until the end of 2021, a tax
Here's the English translation:
Below is a list of the most important changes related to invoicing that came into effect on January 1, 2022.
1. Earlier Invoice Issuance
Until the end of 2021, a taxpayer could issue an invoice no earlier than 30 days before the delivery of goods, the performance of a service, or the receipt of part or all of the payment before the delivery or performance.
As a result of the changes introduced, from January 1, 2022, a taxpayer can issue an invoice no earlier than 60 days before the delivery of goods, the performance of a service, or the receipt of all or part of the payment before the delivery or performance.
2. Elements of a Corrective Invoice
From January 1, 2022, a corrective invoice no longer needs to contain the words "corrective invoice" or "correction" or the reason for the correction. Placing these elements on the invoice by the taxpayer is optional.
In the case of issuing a structured invoice, it is necessary to provide the identification number in the National e-Invoice System of the invoice to which the corrective invoice relates.
3. Issuing Collective Corrective Invoices
Until now, if a taxpayer granted a discount or price reduction in relation to all deliveries of goods or services made or provided to one recipient in a given period, they could issue a collective corrective invoice.
From January 1, 2022, a taxpayer can also issue collective corrective invoices when the discount or reduction is granted to part of the deliveries of goods or services provided to one recipient in a given settlement period. The taxpayer is then obliged to indicate the names (types) of goods or services covered by the correction.
4. Overstating Tax on a Received Invoice
Until December 31, 2021, the content of the applicable regulations did not directly indicate when the purchaser should reduce the input tax when an error was found that resulted in an overstatement of the tax amount on the received invoice.
According to the changes introduced, from January 1, 2022, in the event of such an error, the purchaser reduces the amount of input tax in the settlement for the period in which the conditions for reducing the amount of tax shown on the received invoice were agreed with the supplier of goods or services.
5. Procedure in Case of Destruction or Loss of Invoice
As a result of the changes introduced, the obligation to include the word "duplicate" on the re-issued invoice has been abandoned. Placing the word on the invoice is optional.
6. Elements of an Advance Invoice
From January 1, 2022, it is not necessary to provide the net unit price of goods or services on the advance invoice.
If you are interested in details regarding the above changes, please contact us.
invoices, VAT law, Changes in invoicing
Feel free to contact
agnieszka.drozdz-wilk@moorepolska.pl
And here's the summary in 200 words:
Effective January 1, 2022, several changes impact Polish invoicing. Invoices can now be issued up to 60 days (previously 30) before the transaction. Corrective invoices no longer require the terms "corrective invoice" or "correction," nor the reason for correction, unless they are structured e-invoices, which then necessitate the original invoice's ID from the National e-Invoice System. Collective corrective invoices can now apply to partial deliveries, requiring specification of the corrected goods or services. If an invoice contains overstated tax, the buyer adjusts the input tax in the period when the reduction conditions are agreed upon with the supplier. Re-issued invoices no longer mandatorily include "duplicate." Finally, advance invoices are no longer required to display the net unit price of goods or services. These amendments aim to streamline invoicing processes and address previous ambiguities in VAT regulations. For detailed information, contact agnieszka.drozdz-wilk@moorepolska.pl.
Explore the National e-Invoice System (KSeF) to understand its purpose and function. Examples highlight the advantages of using the new system, detailing the required content of a KSeF invoice. The do
Explore the National e-Invoice System (KSeF) to understand its purpose and function. Examples highlight the advantages of using the new system, detailing the required content of a KSeF invoice. The document also explains how invoices are stored within the system and who is eligible to use KSeF. Usage of the system has been voluntary since January 2022, but mandatory adoption for all taxpayers is planned starting in 2023. For questions or interest in issuing invoices via KSeF, contact agnieszka.drozdz-wilk@moorepolska.pl.
Summary:
This document introduces the National e-Invoice System (KSeF), explaining its functions, benefits, and mandatory usage for all taxpayers planned for 2023. It details invoice content requirements and storage procedures within the system. While voluntary since January 2022, KSeF offers numerous advantages. For inquiries or assistance with KSeF invoicing, contact the provided email address. The document serves as an informative guide to understanding and preparing for the upcoming mandatory implementation of the KSeF system.
Wiesław Myśliwski stated that there is no such thing as chance, as it's merely an excuse for what we don't understand. The meeting of Lidia Skudławska and Piotr Witek, Managing Partners of Moore Polsk
Wiesław Myśliwski stated that there is no such thing as chance, as it's merely an excuse for what we don't understand. The meeting of Lidia Skudławska and Piotr Witek, Managing Partners of Moore Polska, was not accidental. Their partnership evolved through debates, business society meetings, culminating in a significant phone call in early 2021. This led to the formation of Moore Polska.
Moore Polska is the result of a merger between Moore Rewit and Morison Finansista, firms with a long history, shared values, and a family-oriented approach. The goal is to be among the top ten audit firms in Poland and to be closer to clients by understanding their needs better and providing comprehensive support with a team of professionals. The merger allows for greater development, higher ambitions, and increased capabilities.
Moore Polska, with over 220 specialists across 9 offices in 8 Polish cities, offers services in accounting, audit, legal, and tax consulting. While the consolidation of Moore Rewit and Morison Finansista requires hard work, it also opens new doors. Moore Polska aims to be a respected firm maintaining optimal growth synergy.
Moore Polska positions itself as a business partner that understands client needs and helps them grow sustainably, offering support in financial understanding, tax optimization, and building a strong business culture. They believe in empathetic collaboration and mutual success, empowering clients to achieve more.
Cash transaction limit - changes postponed by one year!
12/30/2021
On December 17, 2021, a law was published amending the Excise Duty Act and some other acts (Journal of Laws of 2021, item 2349). This law includes amendments to the "Polish Deal" package, specifically
On December 17, 2021, a law was published amending the Excise Duty Act and some other acts (Journal of Laws of 2021, item 2349). This law includes amendments to the "Polish Deal" package, specifically postponing the effective date of regulations concerning cash payment limits.
The deferred changes were intended to: 1. Reduce the limit for cash payments between businesses (B2B transactions) to PLN 8,000 per transaction, requiring payments to be made via the entrepreneur's payment account. 2. Introduce a limit for cash payments to consumers (B2C transactions) exceeding PLN 20,000 per transaction, requiring consumers to use a payment account.
However, the effective date for these cash payment limits has been moved to January 1, 2023.
Importantly, the law did not postpone the obligation for businesses using cash registers to ensure the availability of cashless payment methods. This obligation, requiring businesses to accept payments via payment instruments in any location where business is conducted, including outside business premises or in vehicles, will come into effect in 2022.
Banks are required to account for reserves for known risks, updating credit receivable values through impairment. Banks using Polish Accounting Standards create specific reserves for credit exposure r
Banks are required to account for reserves for known risks, updating credit receivable values through impairment. Banks using Polish Accounting Standards create specific reserves for credit exposure risk and related receivables impairments, while those using International Accounting Standards recognize impairment losses.
Significant differences exist between creating specific reserves under Polish law and impairment losses under International Standards, leading to discrepancies in credit receivable valuation and the reported financial result. The majority of Polish banks report financials using Polish standards.
Banks classify credit receivables according to the Finance Minister's regulation of December 16, 2008, to determine reserve and impairment levels based on exposure type and risk category. For retail loans classified as "normal," a minimum 1.5% reserve is required. Higher reserves apply to exposures classified as "watch," "substandard," "doubtful," and "loss."
Problems arise from misclassifying non-residential mortgage-backed loans as "mortgage loans" instead of "retail loans," leading to incorrect risk categorization and potential under-provisioning for losses. While banks can reduce reserve bases, consistent application of these reductions is vital but not always practiced.
The Financial Supervision Authority may allow alternative reserve creation based on credit risk models. Reserves are charged to expenses and reversed into income upon resolution. Reserves are created, updated, and reversed quarterly, aligning with exposure reviews. The reserve base is the exposure's book value, adjusted for debt restructuring write-offs. Deductions are permitted for certain retail loans and exposures classified as "watch."
Regardless of accounting standards, banks report credit receivable impairment charges, impacting their financial results.
Whistleblowers - How to Effectively Design a Reporting Mechanism
12/21/2021
The deadline for implementing the EU Directive 2019/1937 on the protection of whistleblowers was December 17, 2021. Employers should already be establishing suitable infrastructure for whistleblowers,
The deadline for implementing the EU Directive 2019/1937 on the protection of whistleblowers was December 17, 2021. Employers should already be establishing suitable infrastructure for whistleblowers, even without national regulations. Creating channels for reporting and investigating irregularities is crucial, complementing ethical codes and employee feedback mechanisms. Effective communication is vital for identifying and eliminating issues within the company, possibly through a dedicated internal unit utilizing modern technologies.
The internal procedure includes: reporting through a designated channel, acknowledgment within 7 days, appointment of an impartial person/department for follow-up, undertaking actions, and providing feedback within 3 months of acknowledgment (or 3 months and 7 days from the original reporting date in the event there is no acknowledgement). Key elements include anonymity, restricted access to confidential data, due diligence, easily accessible information on the procedure, and allowing written, oral, indirect, or direct reporting.
Organizations with at least 50 employees and all public sector entities must establish internal reporting channels, although the deadline is extended to December 17, 2023, for employers with 50 to 249 employees. Those seeking more information on the technical and legal requirements of reporting procedures can contact experts for support and advice.
Blood donation is based on the principle of voluntary and unpaid blood and blood component donation. However, there are compensations and privileges to express gratitude for this act.
One of these is
Blood donation is based on the principle of voluntary and unpaid blood and blood component donation. However, there are compensations and privileges to express gratitude for this act.
One of these is a tax deduction that can be claimed when filing an annual tax return. Polish income tax regulations allow taxpayers who have donated blood to deduct donations from their income. This deduction is calculated based on the amount of blood or blood components donated, multiplied by a monetary equivalent established by the Ministry of Health which is currently set at 130 PLN per liter.
The deduction amount is calculated using a certificate from the blood collection unit, specifying the amount of blood or components donated. The maximum deduction cannot exceed 6% of the taxpayer's income. This incentive is based on the Act on Public Blood Service and regulations set by the Minister of Health.
Lump-sum tax on recorded revenue – changes in 2022
12/16/2021
Based on Polish law, specifically the Act of November 20, 1998, and the amendment of October 29, 2021, certain individuals and entities can choose taxation in the form of a lump-sum tax on recorded re
Based on Polish law, specifically the Act of November 20, 1998, and the amendment of October 29, 2021, certain individuals and entities can choose taxation in the form of a lump-sum tax on recorded revenue in 2022. This includes individuals, inherited businesses, civil partnerships, and general partnerships, provided their 2021 revenue did not exceed 9,188,200 PLN (2 million EUR), or for new businesses, regardless of revenue. Certain activities are excluded, such as currency exchange offices, pharmacies, and trade in automotive parts.
The "Polish Deal" introduces changes to lump-sum tax rates. The 17% and 15% rates are reduced to 14% for healthcare, architectural/engineering, and specialized design services. The 15% rate is lowered to 12% for services related to specific software, software consulting, and IT system management. The definition of "freelance profession" has been narrowed, impacting tax rates for doctors, dentists, vets, technicians, midwives, nurses, psychologists, physiotherapists, architects, engineers, and hourly teachers.
Significant changes are made to health insurance contributions. The health insurance rate for lump-sum taxpayers is 9% of the assessment base. The monthly assessment base depends on income level and average monthly salary from the fourth quarter of the previous year. Specific rules and examples are provided, including exemptions for individuals with employment income below the minimum wage or self-employment income below 50% of the minimum wage, who have chosen the lump-sum taxation. A new revenue record template will be implemented in 2022. To switch to the lump-sum tax, a statement must be submitted by the 20th of the month following the first revenue or by the end of the year if the first revenue was in December. A detailed analysis of the optimal taxation form is recommended before making a choice.
Undoubtedly, everyone will face a new tax reality on January 1, 2022, due to the Polish Deal. Key changes were highlighted in previous articles and a webinar. Moore Polska offers a service to estimate
Undoubtedly, everyone will face a new tax reality on January 1, 2022, due to the Polish Deal. Key changes were highlighted in previous articles and a webinar. Moore Polska offers a service to estimate financial burdens under the current and new regulations.
The Polish Deal prompts many entrepreneurs to reconsider their optimal taxation and business structure. Sole proprietorships must report changes in taxation form by the 20th of the month following the month of the first income, typically February 20th if income is earned in January. Converting a sole proprietorship into a company may also be considered now.
Moore Polska's service estimates financial burdens under different taxation forms, considering health and social insurance contributions, the solidarity levy, and income tax. This calculation assists in making informed decisions about changing taxation forms, based on estimated figures. The service also highlights the limitations associated with different taxation and business structures, ensuring fully informed decisions. Contact seweryn.tomaszewski@moorepolska.pl for details.
On November 25, 2021, the Prime Minister presented proposals for aid to businesses and individuals due to rising prices, especially for fuel, natural gas, electricity, and food. The anti-inflation shi
On November 25, 2021, the Prime Minister presented proposals for aid to businesses and individuals due to rising prices, especially for fuel, natural gas, electricity, and food. The anti-inflation shield includes changes in fuel prices, gas prices, electricity excise tax and prices, and the introduction of a protective allowance.
On November 30, a bill amending the excise tax and retail sales tax laws was submitted to the Sejm, and on December 2, a draft regulation from the Minister of Finance was issued, amending regulations concerning goods and services eligible for reduced VAT rates.
The protective allowance will be available to households as direct financial assistance paid in two installments annually. The allowance amount depends on income and household size.
Regarding electricity, the anti-inflation shield includes an excise tax exemption for households (reducing it from 5 PLN/MWh to 0 PLN/MWh) and a reduction for other consumers. The VAT on electricity will be reduced from 23% to 5% from January to March 2022.
Fuel excise tax will be lowered to the minimum EU-allowed level from December 20, 2021, to May 31, 2022. Additionally, fuel will be exempt from retail sales tax from January 1 to May 31, 2022. The VAT on natural gas will be reduced from 23% to 8% from January to March 2022.
Check what the Polish Deal changes in the buyout of cars from leasing!
12/7/2021
The Polish Deal (amendment to income tax laws, effective January 1, 2022) significantly changes the rules for selling post-lease cars purchased for private use. Previously, individuals who bought thei
The Polish Deal (amendment to income tax laws, effective January 1, 2022) significantly changes the rules for selling post-lease cars purchased for private use. Previously, individuals who bought their leased cars could sell them after six months from the end of the month of purchase without paying income tax.
Under the new regulations, a tax-free sale is only possible if the car is withdrawn from business activity and six years have passed between the first day of the month following the withdrawal and the date of sale. This means that entrepreneurs buying post-lease cars for private use after January 1, 2022, must wait six years to sell them tax-free. Otherwise, the sale is taxed under general rules, similar to the sale of movable property that were fixed assets.
However, transitional provisions state that the new rules apply only to assets acquired after December 31, 2021. So, if a car was purchased for private use by December 31, 2021, it can still be sold tax-free after six months. Example: Mr. Michal bought his car on December 30, 2021, and sold it on August 3, 2022, and he is exempt from tax due to the transitional rules. Example: Ms. Anna bought her car on January 3, 2022, and sold it on August 3, 2022, and she is subject to income tax because the 6-year period was not met.
Banks classify loans according to risk categories defined by the Minister of Finance, ranging from "normal" to "lost," with subdivisions like "under observation," "substandard," and "doubtful." The as
Banks classify loans according to risk categories defined by the Minister of Finance, ranging from "normal" to "lost," with subdivisions like "under observation," "substandard," and "doubtful." The assessment of a debtor's economic and financial situation is a significant challenge, as the regulations provide only general guidelines, including quantitative (financial ratios) and qualitative (management assessment, market dependence) measures, as well as external credit ratings.
"Normal" indicates a sound financial situation, while "under observation" denotes heightened scrutiny due to regional, industry, or product risks, exemplified by the HORECA sector during the COVID-19 pandemic. "Substandard" signifies a potential threat to timely repayment, often due to losses or unmet projections. "Doubtful" implies substantial financial deterioration impacting capital, such as negative equity, though specific thresholds aren't defined. "Lost" signifies irreversible inability to repay, bankruptcy, liquidation, or legal disputes. Reclassification to a lower risk category is possible after the debtor regains full creditworthiness and maintains timely payments for at least three months. Banks must verify the full creditworthiness recovery before downgrading by a maximum of one category at a time. The absence of detailed regulations necessitates a high degree of individual assessment by banks.
A working time system is a set of regulations governing working hours within an establishment, specifying daily, weekly, and settlement period hour requirements. The Polish Labour Code recognizes seve
A working time system is a set of regulations governing working hours within an establishment, specifying daily, weekly, and settlement period hour requirements. The Polish Labour Code recognizes several systems, including basic, equivalent, continuous operation, intermittent, task-based, and weekend work. The basic system involves an 8-hour workday and a 40-hour workweek over a 4-month settlement period. The equivalent system offers more flexibility by allowing for extended workdays, up to 12 hours, with compensatory shorter days or days off within the settlement period. This system can also extend the settlement period to 3, 4, or even 12 months in justified cases, allowing employers to balance longer hours with compensatory time off.
The equivalent system is suitable for jobs requiring flexibility due to their nature or organization, such as in hospitality, retail, or continuous supervision roles. Daily work limits can be extended to 16 or 24 hours for specific tasks like guarding property or in fire brigades, with the settlement period remaining one month. However, the 8-hour daily limit applies to employees exposed to hazardous substances, pregnant women, and those caring for children under four, unless they consent otherwise. Implementing this system requires agreement with trade unions or employee notification through a notice, with changes taking effect 14 days after announcement. It necessitates detailed work schedules outlining daily hours, workdays, and days off, with compensatory days off provided for Sunday or holiday work, and schedules communicated at least a week in advance.
Company mergers are a broad topic, but often crucial for many businesses. This article, split into two parts, focuses on choosing the correct merger method and highlights key related issues. This sect
Company mergers are a broad topic, but often crucial for many businesses. This article, split into two parts, focuses on choosing the correct merger method and highlights key related issues. This section discusses mergers using the acquisition method, and the prior article covers mergers via the pooling of interests method.
According to accounting law, commercial companies can merge using either the acquisition method, where the acquired company's assets transfer to the acquiring or newly formed company, or the pooling of interests method, used when existing shareholders retain control post-merger. The nature of the merger dictates the method for financial reporting.
The acquisition method involves summing the acquiring company's assets and liabilities at their book value with the acquired company's assets and liabilities at their fair value on the merger date. The acquired company's equity at the merger date, calculated as net assets at fair value, is excluded. Mutual debts, obligations, and other settlements between the merging companies are also excluded.
Fair value is specifically defined in accounting law for balance sheet components, such as quoted securities being their current price less sale costs, receivables being their discounted present value, and inventories being net sale price less profit margin.
The acquisition price is defined by law. Examples include the purchase price of treasury shares when acquired for the purpose of the merger, the price of shares in the acquired company, or the fair value of the payment when other than cash or shares.
If the acquisition price exceeds the fair value of the acquired company's net assets, goodwill arises, recognized as an asset and amortized over its economic life (up to 5 years if economic life is indeterminable), with amortization expenses shown as other operating costs. If the acquisition price is lower than the fair value, negative goodwill arises and is recognized as deferred income over the weighted average economic life of the depreciable assets acquired, or, above a certain value, it is recognized immediately as other operating income.
Direct merger-related costs increase the acquisition price, while costs of establishing a new joint-stock company or increasing share capital reduce the acquiring company's retained earnings (up to the excess of issue value over nominal share value), with the remainder treated as financial expenses.
Sick leave during pregnancy and parental leave in relation to termination
11/18/2021
Under Polish law, employers generally cannot terminate employment contracts with employees on any type of leave or with justified absences. However, maternity leave has specific rules. Pregnant employ
Under Polish law, employers generally cannot terminate employment contracts with employees on any type of leave or with justified absences. However, maternity leave has specific rules. Pregnant employees are protected from termination during pregnancy and maternity leave under Article 177 of the Labor Code, unless they voluntarily consent to it. An employer learning of an employee's pregnancy must not dismiss her, except in strictly defined circumstances. If a pregnancy dismissal occurs without valid grounds, the employee can seek reinstatement through legal action, which is crucial for securing maternity benefits as employment on the day of childbirth is required.
Exceptions allowing dismissal of a pregnant employee include company liquidation or bankruptcy, where the employee remains entitled to pregnancy benefits and maternity leave. Dismissal for serious misconduct, such as acting against the company's interests or unexcused absence, is also permissible regardless of pregnancy. While group dismissals due to employer-side reasons cannot lead to termination of a pregnant employee, their contract terms, like salary or employment status, can be changed.
If an employer unknowingly dismisses a pregnant employee without evidence of her condition, the employee must inform the employer. If a pregnancy is discovered during the notice period, the employer must withdraw the dismissal upon request. The same applies if the employee resigns and later discovers pregnancy. Pregnancy during a notice period also grants the right to withdraw the notice. If an employee discovers pregnancy after the notice period or contract termination, she may still be eligible for reinstatement. Protection against job loss begins from the first day of pregnancy, with the conception date being the determining factor for eligibility, not the date of discovery. Miscarriage after receiving a dismissal notice does not automatically void it; a new dismissal notice is required after the post-miscarriage protection period ends.
Contracts for pregnant employees are automatically extended until the expected date of childbirth if the contract expires during pregnancy and the employee is at least 12 weeks pregnant. This extension does not count towards limits for fixed-term contracts converting to indefinite ones. However, this extension does not apply to temporary replacements, contracts shorter than one month, or if the contract ends before the 12th week of pregnancy. For "umowa zlecenie" (mandate contracts), pregnancy does not grant dismissal protection or automatic contract extension. Maternity benefits are available if voluntary sickness insurance contributions were paid for at least 12 months prior to childbirth, provided the individual was still employed on the day of birth.
Lower energy costs thanks to the "RES fee relief" – what are the benefits for industrial customers?
11/10/2021
An industrial consumer is a business operating in specific industrial sectors, such as mining, plastics processing, wood or cork production (excluding furniture), paper manufacturing, and metal proces
An industrial consumer is a business operating in specific industrial sectors, such as mining, plastics processing, wood or cork production (excluding furniture), paper manufacturing, and metal processing. A defining characteristic is a high electricity intensity ratio, meaning energy costs constitute a significant portion of overall expenses. To determine if a business qualifies as an industrial consumer, it must identify if its activities fall under the specified industries and assess its annual electricity consumption.
Industrial consumers can benefit from implementing renewable energy sources (RES) by reducing electricity-related fees, particularly those associated with RES. Savings apply to both energy purchase and distribution costs. The extent of financial benefits from RES discounts depends on the electricity intensity ratio. Higher energy consumption translates to a larger share of RES-related fees and, consequently, a greater financial relief. Discounts are tiered based on the electricity intensity ratio: 20% (3-20% ratio), 40% (20-40% ratio), and 85% (above 40% ratio). For example, a company using 5 GWh of RES energy annually can save tens of thousands of Polish zlotys per year through the RES discount.
The "Polish Deal" program introduces the concept of a VAT Group, a financially, economically, and organizationally linked group of entities registered as a VAT taxpayer. Transactions between members o
The "Polish Deal" program introduces the concept of a VAT Group, a financially, economically, and organizationally linked group of entities registered as a VAT taxpayer. Transactions between members of the same VAT Group are not subject to VAT. Conversely, transactions with entities outside the group are considered to be made by the VAT Group itself. A VAT Group can be formed by entities based in or operating in Poland through a branch.
Additionally, the law allows for accelerated VAT refunds within 15 days under specific conditions. These include submitting a VAT return showing a refund or a corrective return before the filing deadline, or submitting a corrective return after the deadline if it still indicates a refund.
To qualify for an accelerated refund, taxpayers must meet several criteria. These involve demonstrating a high percentage (at least 80%) of sales recorded through cash registers and payments made via payment instruments recorded through cash registers over specified periods. There are also sales value thresholds (at least PLN 50,000 per period for 12 consecutive months) and limitations on the VAT refund amount (not exceeding twice the VAT on sales recorded via cash registers). Furthermore, taxpayers must have been actively registered for VAT for at least 12 months, filed all VAT returns, used compatible cash registers, and held an account on the "white list" for three consecutive months prior to the refund application. The total sales value is determined based on data from the Central Register of Cash Registers, excluding sales documented by invoices but recorded in daily fiscal reports. Compliance with these conditions is verified using information from the National Tax Administration.
The tax-free allowance will be increased to PLN 30,000, with the tax-reducing amount fixed at PLN 5,100, irrespective of income. Previously, the tax-free allowance was PLN 8,000 and the tax-reducing a
The tax-free allowance will be increased to PLN 30,000, with the tax-reducing amount fixed at PLN 5,100, irrespective of income. Previously, the tax-free allowance was PLN 8,000 and the tax-reducing amount was degressive. The tax bracket threshold will also be raised from PLN 85,528 to PLN 120,000, meaning income exceeding this amount will be taxed at 32%.
A new middle-class relief will be introduced for employees and those in self-employment taxed under the standard scale. This relief is contingent on income levels, applicable to individuals earning between PLN 68,412 and PLN 133,692. Married couples filing jointly can also benefit, with each spouse deducting the relief calculated on half of their combined income.
The health insurance contribution rate and calculation method will now depend on the taxpayer's chosen taxation form. Definitions of annual and monthly contribution bases will also vary based on the chosen tax regime. Individuals appointed to positions and receiving remuneration will now be subject to health insurance contributions from the date of their appointment.
The act also introduces changes to the taxation of cars under the Personal Income Tax (PIT) act, focusing on cars purchased after leasing and the valuation of private use of company cars.
The Polish Deal, effective from the start of 2022, introduces significant changes to Poland's tax law, particularly affecting tax brackets. The key changes include an increase in the tax-free threshol
The Polish Deal, effective from the start of 2022, introduces significant changes to Poland's tax law, particularly affecting tax brackets. The key changes include an increase in the tax-free threshold from 8,000 PLN to 30,000 PLN. The income tax rates of 17% and 32% remain unchanged, but the lower tax bracket threshold is raised to 120,000 PLN.
A notable simplification is the introduction of a fixed tax-reducing amount of 5,100 PLN for all taxpayers earning up to 120,000 PLN, replacing the previous progressive calculation. Those with incrementally calculated tax advances can deduct 1/12th of this amount monthly.
Furthermore, a new "Middle-Class Relief" is introduced for individuals with employment contracts or sole proprietorships taxed under the standard scale. This relief applies to annual incomes between 68,412 PLN and 133,692.01 PLN, with different calculation formulas for specific income ranges within this bracket. The relief can be applied to each contract separately, with potential adjustments made during annual tax settlement.
The act introduces changes to thin capitalization rules. Article 15c of the Corporate Income Tax (CIT) Act will be amended, requiring taxpayers to exclude financing costs from
**Thin Capitalization**
The act introduces changes to thin capitalization rules. Article 15c of the Corporate Income Tax (CIT) Act will be amended, requiring taxpayers to exclude financing costs from their deductible expenses to the extent that the excess financing costs exceed either PLN 3,000,000 or 30% of the tax EBITDA. The current ability to sum these limits will be abolished. Furthermore, the scope of non-deductible expenses will be broadened. Article 16 of the CIT Act will be updated to stipulate that financing costs incurred from related parties, when directly or indirectly allocated to capital transactions such as share acquisitions, contributions, or treasury stock repurchases, will not be considered deductible.
**Rescission of Article 15e of the CIT Act**
The act also repeals Article 15e of the CIT Act. This article previously mandated the exclusion of intangible service costs (e.g., advisory, advertising, guarantee) incurred for related parties or from tax havens, if a statutory limit was exceeded. The repeal is a consequence of the introduction of a new concept: the minimum CIT.
**Minimum Income Tax**
A minimum income tax mechanism is introduced for CIT taxpayers and capital groups that incur losses from non-capital gain sources or where income from non-capital gain sources does not exceed 1% of their total revenue. These entities will be subject to a 10% tax rate on their tax base. Exceptions are provided for new businesses and those experiencing a significant revenue decline.
**Hidden Dividend**
The act redefines "hidden dividend." Costs incurred by a company from related parties or shareholders will be non-deductible if they are linked to the taxpayer's profit realization or amount, or if a rational taxpayer would not have incurred such costs or could have paid less for a comparable service from an unrelated party. This also includes remuneration for the use of assets previously owned by a shareholder or related entity. These provisions will take effect from January 1, 2023.
**Withholding Tax (WHT) Changes**
The criteria for assessing due diligence in WHT are expanded to include the relationships between the taxpayer and the payer, in addition to the taxpayer's business activities. The "pay and refund" mechanism will be narrowed, applying only to specific income types paid to non-residents by related entities, unless the payer provides a declaration of due diligence and lack of knowledge suggesting circumstances that would preclude the application of reduced rates or exemptions.
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The implemented changes in Polish tax law introduce significant shifts in how companies are taxed. Thin capitalization rules are tightened, disallowing the combined use of the PLN 3 million and 30% EBITDA limits for interest deductibility, and extending non-deductible financing costs to capital transactions. Article 15e, concerning non-deductible intangible service costs, is repealed due to the introduction of a minimum CIT. This new minimum CIT will apply to loss-making companies or those with very low income from non-capital gain sources, taxing them at 10%. The concept of "hidden dividend" is clarified, making costs non-deductible if they are tied to profit, unreasonable, or relate to assets previously held by shareholders. Withholding tax rules are also updated, expanding due diligence assessments and narrowing the "pay and refund" mechanism, with specific exceptions for payers providing proper documentation and assurances. These reforms aim to ensure greater tax compliance and revenue collection.
The sickness benefit will generally be 80% of the calculation basis for the entire duration of payment. However, for periods of hospitalization, it will be 70% of the calculation bas
Sickness Benefit
The sickness benefit will generally be 80% of the calculation basis for the entire duration of payment. However, for periods of hospitalization, it will be 70% of the calculation basis. Starting from the new year, this will increase to 80% regardless of whether the individual is hospitalized or at home.
The calculation basis for benefits will also be determined differently. It will not be recalculated if there was no break or a break shorter than one calendar month between periods of receiving benefits (regardless of type). Previously, this break period was less than three calendar months.
Maternity Benefit
From 2022, women who give birth after their insurance ceases, due to employer liquidation, bankruptcy, or legal violations proven by a court ruling, and are not provided with other employment, will continue to be entitled to maternity benefit until the date of childbirth.
Benefit Despite Late Contributions
Another change concerns the right to sickness benefit for individuals covered by sickness insurance, including business owners and those paying their own insurance contributions. Entrepreneurs can claim sickness insurance benefits even if contributions are paid late, provided the debt does not exceed 1% of the minimum wage (PLN 30 from January 2021) on the day the right to the benefit arises. Otherwise, the benefit will not be granted until the debt is settled. Furthermore, the right to the benefit will expire if arrears are not cleared within 6 months of the benefit's entitlement date.
Benefit Period
The standard benefit period is 182 days, extending to 270 days if the incapacity for work is due to tuberculosis or occurs during pregnancy. This period includes all uninterrupted periods of incapacity. Currently, if there are breaks in incapacity, the preceding incapacity is included if caused by the same condition and the break does not exceed 60 days. From January, the cause of incapacity before and after a break will be irrelevant; the period of incapacity will be counted the same, regardless of whether it's the same or different illnesses. Under the law, benefits for incapacity following the cessation of insurance title are limited to 91 days, with no changes for tuberculosis or pregnancy-related incapacity.
Summary:
New regulations in Poland are adjusting sickness and maternity benefits. The sickness benefit will increase to 80% of the calculation basis for all recipients, including those hospitalized, effective from the new year. The method for calculating the benefit basis is also being revised to avoid frequent recalculations during short breaks between benefit periods. Maternity benefit rights are being protected for women who give birth after their insurance ends due to employer insolvency or legal breaches, provided they are not offered new employment.
Crucially, self-employed individuals and those paying their own contributions can now receive sickness benefits even with late payments, as long as the overdue amount is below 1% of the minimum wage. However, benefits will be withheld until full payment if the debt exceeds this threshold, and the right to benefits will lapse if arrears are not cleared within six months. The calculation of the total benefit period is also being simplified, with the cause of incapacity before and after a break becoming irrelevant for accumulating the total entitlement. The standard benefit period remains 182 days, extending to 270 for specific conditions, and a 91-day limit applies after insurance termination.
According to Article 64 of the Accounting Act, the unit manager must enable the auditing firm to participate in the inventory of significant assets. The statutory auditor acts primarily as an observer
According to Article 64 of the Accounting Act, the unit manager must enable the auditing firm to participate in the inventory of significant assets. The statutory auditor acts primarily as an observer during the inventory count, verifying that the process adheres to inventory regulations and instructions. They ensure that inventory documentation is correctly completed and that the actual inventory on hand is complete and in good condition. This role is crucial as inventory often constitutes a major portion of a company's assets.
The auditor's primary objective in participating in inventory is to gather sufficient and appropriate audit evidence regarding the existence and condition of inventory. Their presence allows them to confirm the physical existence of inventory within the entity. As per auditing standard ISA 501, if inventory is material, the auditor obtains evidence by being present during the physical count to assess inventory counting procedures, observe the counting process, test the inventory, and perform test counts. They also perform procedures on the final inventory listing to ensure it accurately reflects the physical count results.
If physical presence is not feasible, alternative procedures may be employed, such as inspecting post-inventory sales documentation for specific items purchased before the count date. However, alternative procedures cannot confirm the existence of inventory. In such cases, online participation via video conference is a viable, albeit last resort, option to fulfill the auditor's obligations.
The "glass ceiling" is a general term for a barrier that prevents certain social groups, such as women and minorities, from reaching high positions in business and politics. It is an invisible obstacl
The "glass ceiling" is a general term for a barrier that prevents certain social groups, such as women and minorities, from reaching high positions in business and politics. It is an invisible obstacle often rooted in unsubstantiated organizational excuses when qualified individuals are denied promotions.
While Poland ranks second in Europe for women in managerial positions, only 13% hold seats on the boards of major publicly traded companies, below the EU average. Contrary to expert opinions attributing this to prejudice, a 2021 survey found that 78% of Poles believe gender is irrelevant for leadership roles. Crucially, men reported more positive business relationships with female bosses (92%) than with male managers. Positive perceptions of women in leadership are particularly strong in small and medium-sized enterprises, where women hold 38% of top management positions, the highest in Europe.
However, the survey also revealed that half of female respondents feel women are better suited for specialist roles than management. This suggests that women themselves may perpetuate stereotypes, hindering their own advancement. Stereotypes, rather than outright prejudice, lead women to abandon aspirations for leadership or tolerate pay inequality. The article also distinguishes the "glass ceiling" from "sticky floors" (where career progression is impossible due to profession or company structure) and "glass escalators" (where men in female-dominated fields receive faster promotions). Ultimately, the text encourages individuals to seek environments where advancement is based on merit, not gender, highlighting Moore Polska as an example with 67% of top management roles held by women.
**Employment of Foreigners from Outside the European Union**
Foreigners from non-EU/EEA countries can legally work in Poland if they possess a work permit and a valid residence permit (visa or tempor
**Employment of Foreigners from Outside the European Union**
Foreigners from non-EU/EEA countries can legally work in Poland if they possess a work permit and a valid residence permit (visa or temporary residence permit) that allows for employment. The primary responsibility for obtaining a work permit lies with the prospective employer, who must submit an application to the relevant Voivodeship Office, often requiring a labor market test indicating a lack of local candidates.
A simplified procedure allows certain foreigners, including citizens of Ukraine, to work for up to 6 months within a 12-month period based on a registered employer's statement filed with the district labor office. This streamlined process bypasses the labor market test for specific nationalities like Ukrainians, Armenians, Belarusians, Georgians, Moldovans, and Russians, provided they have a written employment agreement and the employer has registered their intention to employ the foreigner.
Citizens from EU/EEA countries and Switzerland enjoy free movement and do not require work permits or visas to work in Poland. They only need to register their stay if it exceeds three months.
Several exceptions exist where foreigners can work without a permit, including those with refugee status, permanent residence permits, or certain temporary residence permits for highly qualified employment or studies. Holders of a Polish Card or spouses of Polish citizens also benefit from relaxed regulations.
The employment of foreigners who have applied for an extension of their stay or work permit is considered legal until a decision is made, provided the application was submitted correctly and on time. Employers must verify the legal status of their foreign employees by requesting and retaining copies of relevant documents. Failure to comply with these regulations can lead to significant penalties, including fines and even imprisonment in severe cases of illegal employment.
**Summary:**
Legally employing a foreigner from outside the EU/EEA in Poland generally requires a work permit obtained by the employer, often contingent on a labor market test. Ukrainian citizens and individuals from several other Eastern European countries can benefit from a simplified procedure allowing work for up to six months based on a registered employer's statement, bypassing the labor market test. Citizens of EU/EEA countries and Switzerland have unrestricted access to the Polish labor market due to freedom of movement, needing only to register stays exceeding three months. Various other categories of foreigners are exempt from work permit requirements, including refugees, permanent residents, and those with specific temporary permits related to highly skilled work, studies, or family ties. The process of extending work permits and residence allows for continued legal employment during the application period. Employers bear the responsibility of verifying foreign employees' legal status and must retain copies of their permits. Non-compliance with these regulations can result in substantial penalties for employers.
Ursula von der Leyen, President of the European Commission, highlights the persistent silence around earnings, often due to significant pay gaps between men and women in sim
**Gender Pay Inequality**
Ursula von der Leyen, President of the European Commission, highlights the persistent silence around earnings, often due to significant pay gaps between men and women in similar roles. To achieve equal pay, knowledge of a company's pay structure is essential. The European Commission is introducing new tools to address this, acknowledging that the COVID-19 pandemic has exacerbated these disparities, disproportionately affecting women.
Vera Jourová, Vice-President for Values and Transparency, emphasizes that employers must disclose their pay policies. The Commission aims to equip job seekers and employees with tools to advocate for fair compensation. Employers will be required to inform potential candidates about salary ranges before interviews.
Helena Dalli, Commissioner for Equality, believes the EC's proposals can eliminate gender bias. Employees will gain access to individual and average pay levels, with employers mandated to provide gender-disaggregated data for employees performing the same or work of equal value. Companies with 250+ employees will need to publish pay gap information, conducting a pay assessment with employee representatives if the gap exceeds 5%.
Furthermore, the EC proposes compensation for employees who have experienced gender-based pay discrimination, including back pay and related bonuses. The burden of proof will lie with the employer to demonstrate the absence of such discrimination. The proposals offer flexibility for SMEs regarding reporting costs. The article concludes by stressing that unequal treatment leads to unequal pay, advocating for companies that prioritize fair wages and gender equality as foundational principles.
**Summary:**
The European Commission is taking steps to address the persistent gender pay gap, a phenomenon exacerbated by the COVID-19 pandemic. President Ursula von der Leyen points out that a lack of transparency regarding salaries often masks significant pay disparities between men and women. To combat this, the EC is introducing measures to ensure equal pay for equal work. These include making salary information transparent during the recruitment process, with employers required to disclose pay ranges before interviews.
Employees will be empowered to request information on pay levels, and employers will need to provide gender-disaggregated data for individuals in similar roles. Larger companies (250+ employees) will face obligations to publish pay gap reports and conduct assessments if the gap exceeds 5%. The Commission also proposes compensation for victims of pay discrimination, shifting the burden of proof to employers. The initiative aims to foster greater pay equality and eliminate gender bias in the workplace, while offering flexibility for small and medium-sized enterprises to manage reporting costs. The article concludes by emphasizing that companies prioritizing gender equality and fair pay build stronger, more professional teams and positively impact customer relations.
Waste Package – New Obligations for Entrepreneurs?
10/12/2021
Poland is currently implementing new EU waste management regulations, aiming to increase recycling and reduce waste, thus utilizing recycled materials as a crucial resource. Key changes include expand
Poland is currently implementing new EU waste management regulations, aiming to increase recycling and reduce waste, thus utilizing recycled materials as a crucial resource. Key changes include expanded producer responsibility, obligating those introducing products to the market to ensure proper waste collection, possess the necessary financial and organizational resources, implement self-monitoring mechanisms, and publicly disclose information on waste management goals.
A draft law, already in parliament, mandates producers to not limit their waste collection efforts to only profitable cases and to ensure adequate system availability. Effective January 1, 2022, entities introducing packaged goods must ensure packaging waste recycling and achieve specified recycling levels by 2030.
Another draft bill introduces changes to product fees, requiring retailers, wholesalers, and food service businesses to charge customers for single-use plastic packaging and offer alternatives. This bill also prohibits the introduction of certain single-use plastic products, like cutlery and straws.
Furthermore, a packaging fee will be levied on those introducing products in household packaging, with a maximum rate of PLN 2 per kilogram, varying based on packaging type and recyclability. This provision is slated to take effect on January 1, 2023.
Thank you to our clients for many years of collaboration. We look forward to future prestigious projects undertaken under the Moore Polska banner. Thanks to you, we are opening a new, exciting chapter
Thank you to our clients for many years of collaboration. We look forward to future prestigious projects undertaken under the Moore Polska banner. Thanks to you, we are opening a new, exciting chapter. We aim high and believe that together we will achieve more.
Keywords: Moore Global, Moore Polska, MOORE Polska, Morison Finansista, Morison KSi, new company, company merger
Contact: piotr.witek@moorepolska.pl
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Moore Polska expresses gratitude to its clients for their long-standing partnership, anticipating continued collaboration on significant projects. This marks the beginning of a new era for the company, promising increased ambition and the potential for greater achievements together. The transition involves the integration of Morison Finansista and Morison KSi under the Moore Polska brand, signifying a strategic move towards enhanced capabilities and service offerings. The company emphasizes a commitment to exceeding expectations and invites further engagement. Contact information for Piotr Witek is provided for inquiries. This restructuring aims to leverage collective expertise and resources to deliver superior results for clients, solidifying Moore Polska's position in the market.
Work for a foreign employer in Poland and Social Security (ZUS)
10/5/2021
In the EU, individuals are generally subject to the social security laws of only one member state. If a foreign company employs someone in Poland, that employee typically falls under the Polish social
In the EU, individuals are generally subject to the social security laws of only one member state. If a foreign company employs someone in Poland, that employee typically falls under the Polish social security system (ZUS). The foreign company, as the employer, must register with ZUS. This requires obtaining a NIP (tax identification number) from the Second Tax Office in Warsaw-Śródmieście, submitting necessary documents including a NIP-2 form, a cover letter, and a certified translation of the company's registration extract. After obtaining the NIP, the employer is registered with ZUS using forms ZUS ZPA and a copy of the NIP decision. Employees are then registered using form ZUS ZUA. Monthly declarations and contributions are due by the 15th of the following month.
Alternatively, ZUS allows the employee to assume the employer's obligations. This requires a written agreement, and the employee registers with ZUS using forms ZUS ZUA/ZZA, ZUS ZAA, and copies of the agreement and their own NIP decision, taking responsibility for payments and declarations. These regulations also apply to Switzerland and the EEA (Iceland, Liechtenstein, Norway). For companies outside the EU, Switzerland, and the EEA, social security obligations depend on existing agreements between Poland and the company's country of origin.
Moore Polska and Morison Finansista, both well-established in the audit and accounting services market for decades, are merging under the Moore Polska brand
**Common Denominator: A Family Business**
Moore Polska and Morison Finansista, both well-established in the audit and accounting services market for decades, are merging under the Moore Polska brand starting January 2022. Both companies, frequently recognized among the top audit firms by "Rzeczpospolita," emphasize their foundation in tradition and family values.
Moore Polska, with nearly 30 years of experience, joined the MOORE Global network in 2020 and has cultivated strong client relationships. Morison Finansista, also with over 30 years of experience, is known for its forward-thinking approach and dedicated specialists. The merger aims to broaden Moore Polska's reach, enhance its organizational culture, and accelerate team development, resulting in a 220-person team, including nearly 30 certified auditors and nine offices across Poland.
Despite the growth, the core values of loyalty, trust, expertise, and a family-oriented approach will remain unchanged. The combined entity will offer enhanced capabilities in audit, financial advisory, and tax services. The merger promises synergy and growth in the Polish market for audit, outsourcing, tax advisory, and business support. The firm will continue its tradition of aiming for perfection and supporting client growth in a changing world.
Merger of Companies – Pooling of Interests Method [Part 1]
9/23/2021
Mergers of companies, a broad and crucial topic for many businesses, can be executed using one of two methods under Polish accounting law: the acquisition method or the pooling of interests method. Th
Mergers of companies, a broad and crucial topic for many businesses, can be executed using one of two methods under Polish accounting law: the acquisition method or the pooling of interests method. The acquisition method applies when the acquired company's assets transfer to the acquiring or newly formed company. The pooling of interests method is used when the original shareholders retain control after the merger.
The pooling of interests method, often used for merging subsidiaries under common control or lower-level parent entities with subsidiaries, involves summing the assets, liabilities, income, and expenses of the combined entities as of the merger date, followed by specific exclusions. This summation requires verifying that financial statement items are presented using uniform valuation principles. Exclusions include the capital of the transferred company, mutual debts, receivables, similar settlements, reciprocal income and expenses, and mutual profits and losses from pre-merger transactions. The materiality principle guides the elimination of mutual transactions, allowing for non-exclusion if it doesn't compromise the financial statement's reliability.
Costs associated with the merger, such as advisory and legal fees, along with new company formation and capital increase costs, are treated as period costs and reported as financial expenses. To ensure data comparability when a merger occurs mid-year, the company should present comparative data for the previous fiscal year as if the merger had occurred at the beginning of that year.
The Polish "Tarcza 4.0" law of June 19, 2020, addresses remote work regulations but lacks clarity, particularly regarding accidents during remote work and cost allocation for employees working outside
The Polish "Tarcza 4.0" law of June 19, 2020, addresses remote work regulations but lacks clarity, particularly regarding accidents during remote work and cost allocation for employees working outside the office. The law doesn't mandate employers to reimburse remote work expenses, although they must provide adequate tools, materials, and logistical support. Reimbursement for electricity or internet costs is not obligatory. Employers cover installation, service, and maintenance of equipment, but increased internet usage or higher bills due to remote work are discretionary expenses for the employer. This stems from the distinction between remote work and telework, where, under the Labor Code, employers *are* required to cover such costs for teleworkers. Reimbursements for necessary work-related equipment do not generate taxable income for the employee. Forthcoming changes aim to establish cost reimbursement rules within internal company regulations.
Communication with employers is crucial to avoid misunderstandings, as Polish law permits, but doesn't mandate, employers to provide appropriate compensation without tax implications. Remote work offers advantages such as saving time and money on commuting, promoting environmental awareness, and providing flexibility for better work-life balance. While remote work is beneficial, consulting with professionals for further informations is a good way to get a deeper understanding.
The "Cashless Taxpayer" program, created by the Ministry of Finance, targets entrepreneurs who primarily conduct payment transactions cashless. It offers two options, SILVER and GOLD, available from e
The "Cashless Taxpayer" program, created by the Ministry of Finance, targets entrepreneurs who primarily conduct payment transactions cashless. It offers two options, SILVER and GOLD, available from early 2022.
The SILVER package provides a tax relief for taxpayers who haven't used payment terminals in the past year or who continue cashless payments after participating in the "Polish Cashless" program. This allows a deduction of 100% of the cost of acquiring a payment terminal from income, while also including 100% of these costs as revenue-generating expenses. The maximum deduction is typically PLN 1,000 annually, but PLN 2,500 for taxpayers exempt from using cash registers. This relief lasts for two years from the start of incurring transaction processing costs.
The GOLD package, for taxpayers who operate cashless for at least seven months a year, offers an indefinite terminal relief. This includes an additional 200% deduction of expenses, with a limit of PLN 2,000 per year. Furthermore, these taxpayers will benefit from an accelerated VAT refund, up to a maximum of 15 days.
Tax strategy: information on the implemented tax strategy
9/15/2021
The year 2021 brought additional reporting obligations for taxpayers, increasing the risks associated with business operations. One such obligation is the requirement to publish information about the
The year 2021 brought additional reporting obligations for taxpayers, increasing the risks associated with business operations. One such obligation is the requirement to publish information about the implemented tax strategy. This applies to tax capital groups, regardless of revenue, and other taxpayers if their annual revenue exceeds the equivalent of 50 million euros.
Taxpayers are obligated to publish information about their tax strategy for 2020, requiring a review and potential restructuring of internal tax procedures. Determining which areas constitute trade secrets is crucial, as the published information will be publicly accessible, including to competitors.
The breadth of information required and the need for a company-specific approach based on its business strategy necessitate immediate action. The initial publication must be completed by the end of the year, with notification of the website address sent to the tax office by the same deadline.
Failure to inform the tax office about the website address where the tax strategy information is published can result in a penalty of up to 250,000 PLN. Moore Polska assists clients in developing approaches to and fulfilling the obligation to prepare information on the implemented tax strategy.
Outstanding Vacation Leave Until September 30, 2021
9/7/2021
According to the Polish Labor Code, employees are entitled to 20 or 26 days of vacation leave per year, which employers must grant within that calendar year. Unused vacation days become overdue on Jan
According to the Polish Labor Code, employees are entitled to 20 or 26 days of vacation leave per year, which employers must grant within that calendar year. Unused vacation days become overdue on January 1st of the following year and must be taken by the end of September. Claims for vacation leave expire after 3 years.
Employers face fines ranging from 1,000 to 30,000 PLN for failing to grant overdue leave within the specified timeframe, as it's considered a violation of employee rights.
During the COVID-19 pandemic, special regulations were introduced allowing employers to grant up to 30 days of overdue leave without employee consent, bypassing vacation plans. However, this doesn't override the obligation to grant overdue leave by the end of September.
If an employee is quarantined or isolated, standard leave regulations apply. Quarantine during planned leave results in its cancellation, while during ongoing leave, it is interrupted. Employees may be able to work remotely during quarantine with employer consent, utilizing their leave.
If an employee cannot use overdue leave by September 30th due to quarantine, the employer will not be penalized, but should schedule its use as soon as possible after the employee returns to work. Importantly, "on-demand" vacation days from the previous year are not considered overdue and require employer agreement for scheduling.
The VAT group, proposed under the Polish Deal program, operates in 18 EU countries and is enabled by the VAT Directive (2006/112/WE). It aims to allow financially, economically, and org
**VAT Group**
The VAT group, proposed under the Polish Deal program, operates in 18 EU countries and is enabled by the VAT Directive (2006/112/WE). It aims to allow financially, economically, and organizationally linked entities to settle VAT jointly, functioning as a single VAT taxpayer. Internal transactions within the VAT group are not subject to VAT, ensuring tax neutrality. Transactions with entities outside the group are treated as if they are with the entire group. The split payment mechanism is excluded for intra-group turnovers. Entities based in Poland or conducting business in Poland through a branch can form a VAT group by entering into a written agreement.
**Accelerated VAT Refund**
To promote cashless transactions, taxpayers can receive a VAT refund within 15 days if they meet specific criteria, including a high proportion of payments made using payment instruments. Failure to accept cashless payments may result in temporary exclusion from certain tax preferences, such as quarterly settlements and the right to a 25-day VAT refund.
**Taxation of Financial Services**
Financial services are generally VAT-exempt, but the VAT Directive allows for optional taxation. The proposed regulations offer taxpayers the choice to tax financial services provided exclusively to other VAT taxpayers. Services to non-VAT taxpayers remain VAT-exempt. This aims to increase VAT neutrality in the financial sector by granting the right to deduct input tax on purchases related to providing these services. Taxpayers opting out of the exemption must tax all financial services provided to taxpayers for a minimum of two years. They must also notify the tax office and register as an active VAT payer to apply this taxation option.
On August 4, 2021, a new draft law amending the VAT Act and some other acts (UD159) was published, implementing the National e-Invoice System (KSeF) and enabling the issuance and receipt of structured
On August 4, 2021, a new draft law amending the VAT Act and some other acts (UD159) was published, implementing the National e-Invoice System (KSeF) and enabling the issuance and receipt of structured invoices through it. Initially planned for October 1, 2021, the effective date is now proposed for January 1, 2022.
KSeF is designed as an IT system for receiving and storing structured invoices. It will assign a unique identification number to each invoice and verify its compliance with the structured invoice template. An invoice is considered issued and delivered on the day the system assigns it an ID number. While the use of KSeF will be voluntary initially, mandatory electronic invoicing is planned for all entities from 2023.
To facilitate timely adaptation, the Ministry of Finance has published a working version of the e-Invoice logical structure and sample files. The logical structure will eventually be published on the e-PUAP platform.
Incentives for using KSeF include faster VAT refunds (40 days instead of 60), subject to conditions like issuing only structured invoices during the entire settlement period and being an active VAT payer for over 12 months, and not exceeding 3000 PLN. Receiving structured invoices via KSeF requires recipient consent; otherwise, the issuer must provide it in another agreed-upon manner. Corrections to structured invoices can only be made through KSeF. Currently, VAT RR and pro forma invoices cannot be issued in KSeF. Taxpayers who opt for KSeF are exempt from the 10-year invoice storage and archiving obligation.
Unvaccinated Employee vs. the Fourth Wave of the Pandemic
9/1/2021
**Translation:**
Ensuring Adequate Protection
This project concerns an amendment to the law on special solutions related to preventing, counteracting, and combating COVID-19. It is being prepared by
**Translation:**
Ensuring Adequate Protection
This project concerns an amendment to the law on special solutions related to preventing, counteracting, and combating COVID-19. It is being prepared by the Ministry of Health. Its goal is to support actions that ensure protection in workplaces where coronavirus infections occur.
Thus, the proposed regulation would introduce solutions allowing employers to obtain certain information about the health status of employees. This information would relate to vaccination, having had an infection, and having a negative SARS-CoV-2 test result.
The employer will be able to take new steps towards unvaccinated employees, those who have not recovered from the infection, or those who do not have a valid negative test result.
What if data is missing?
If the project comes into force - and this may happen as early as September 2021 - the employer will gain new opportunities to react to unvaccinated employees, those who have not recovered, or those who do not have a negative test result.
On the one hand, such an employee can be sent on unpaid leave, which means a lack of income and insurance. Importantly, the employer will not have the right to dismiss an unvaccinated employee or one who has not recovered.
On the other hand, the employer will have the right to delegate an employee to work remotely or to other tasks. However, it is important that while performing other tasks, the employee will receive remuneration corresponding to the new duties, which may be lower.
The employer will also be able to require the submission of data on vaccination, having had the disease, or a negative COVID-19 test result before a new employee starts work.
The Great Unknowns of the Draft Law
The fundamental problem with this bill is that it is not yet known whether these will be the obligations or the rights of the company. It is also not known how long the employer will be able to send an employee on unpaid leave. It is also not known whether it will be possible to hire a replacement for an employee on unpaid leave at the employer's request. Worse, while on unpaid leave, an employee who is ready to work is deprived of pay and insurance.
Furthermore, it is not known how to approach an employee who cannot receive a vaccine against SARS-CoV-2 for medical reasons. Another unknown is how the employer should interpret an employee's refusal to provide information about their health - in this case, for example, vaccination.
**Summary:**
A proposed amendment to Poland's COVID-19 law aims to bolster workplace safety by granting employers access to employees' vaccination, infection history, and test results. This would allow employers to manage unvaccinated, non-recovered, or untested individuals. Employers could mandate unpaid leave, preventing termination, or reassign employees to remote or alternative tasks, potentially affecting pay. New hires could also be required to provide health information. Key uncertainties remain: whether these provisions are employer obligations or rights, the duration of unpaid leave, and the possibility of hiring replacements. The lack of clarity also extends to employees with medical vaccine exemptions and those who refuse to disclose health data. The potential loss of income and insurance during unpaid leave raises concerns.
Valuing a business goes beyond just numbers; it's about understanding the story behind them. Professor Aswath Damodaran emphasizes that business valuation is "history plus numbers." The author's exper
Valuing a business goes beyond just numbers; it's about understanding the story behind them. Professor Aswath Damodaran emphasizes that business valuation is "history plus numbers." The author's experience confirms that similar-looking financial figures can lead to different valuations depending on the company's narrative. Three key questions should be addressed for a reliable valuation: who is the intended recipient, which valuation method is most appropriate, and what other factors accompany the transaction. Always review the valuation result with common sense and consider multiples.
The person paying isn't always the one who dictates the valuation. Consider the perspective of the counterparty, whether it's a minority shareholder or an external investor. Focus on what the business is worth today, not what an investor might transform it into. Be aware of what holds value for you might not for an investor.
There are three core approaches: asset-based, income-based, and market-based valuation. Asset-based valuation measures the historical effect on assets, often readily available in a company's balance sheet, especially the equity, which can be used as a benchmark. Income-based valuation assesses future free cash flows, though susceptible to manipulation. Market-based valuation uses comparable transactions but is most reliable in an active market. Each method has its place depending on the company's circumstances and available information.
Beyond numbers, understanding the source of success and potential weaknesses is crucial. The role of the owner and realistic growth opportunities can dramatically alter a valuation. Multiples, such as revenue or EBITDA, serve as a sanity check. The real valuation is based on a true understanding of the business and its advantages. Be open-minded and consult with experts who can offer a comprehensive perspective.
The SLIM VAT 2 package, aimed at further simplifying VAT settlements, has been signed into law and takes effect October 1, 2021, with exceptions for specific provisions. This package follows the initi
The SLIM VAT 2 package, aimed at further simplifying VAT settlements, has been signed into law and takes effect October 1, 2021, with exceptions for specific provisions. This package follows the initial SLIM VAT introduced in late 2020.
Key changes include VAT deduction rules for intra-community acquisitions and service imports. The new rules allow for deducting input VAT in the same period the tax obligation arose, provided the taxpayer reports the output VAT in the corresponding tax return. This change reflects a recent EU Court of Justice ruling.
Regarding the split payment mechanism, taxpayers can now transfer funds between VAT accounts in different banks. However, releasing funds from the VAT account to a regular account still requires approval from tax authorities. The tax office can approve such release even with tax arrears if the taxpayer has a deferred payment or installment agreement.
SLIM VAT 2 also simplifies VAT corrections, enabling taxpayers to deduct VAT "on an ongoing basis" after the deadline by expanding the number of reporting periods in which a correction can be made. Other changes include extending the bad debt relief period from two to three years, clarifying which supply in chain transactions is attributed to shipment/transport based on which entity is responsible, and allowing suppliers and buyers to jointly declare their choice of real estate taxation in the notarial deed.
PFR Subsidy Remission – Ministry of Finance Announcement
8/26/2021
The tax exemption for Personal Income Tax (PIT) and Corporate Income Tax (CIT) on income derived from the cancellation of financial subsidies granted by the Polish Development Fund (PFR) as part of th
The tax exemption for Personal Income Tax (PIT) and Corporate Income Tax (CIT) on income derived from the cancellation of financial subsidies granted by the Polish Development Fund (PFR) as part of the government program to support entrepreneurs applies to income obtained from June 1, 2021, to December 31, 2022.
The Ministry of Finance clarified in a statement issued on July 23, 2021, that the cancellation occurring in 2021 should be recorded in the accounting books in the year of cancellation, i.e., 2021. This cancellation increases other operating income. From an accounting perspective, the received subsidy is recorded as a liability to the PFR. Its cancellation reduces this part of the liability, corresponding to other operating income.
In summary, businesses receiving PFR subsidies during the specified period (June 1, 2021 – December 31, 2022) benefit from PIT and CIT exemptions upon the cancellation of those subsidies. The cancellation should be recorded in the accounting books in the year it occurs as an increase in other operating income, reducing the liability owed to the PFR. Further details regarding PFR subsidy cancellation can be obtained by contacting the email address provided.
Currently, remote work is regulated only by general anti-crisis shield regulations, lacking specific provisions for workplace accidents during remote work. Despite planned amendments to the labor code
Currently, remote work is regulated only by general anti-crisis shield regulations, lacking specific provisions for workplace accidents during remote work. Despite planned amendments to the labor code, concrete regulations on this issue are still absent.
According to the law, a workplace accident is defined as a sudden event caused by an external factor, resulting in injury or death, occurring during work-related activities or at the employer's disposal. Examples during remote work include electric shock from equipment or falls due to cables.
Remote work assignment is ordered by the employer and is currently temporary, based on COVID-19 regulations. These regulations allow employers to order remote work during epidemic states and three months after their cancellation, provided the employee has the necessary skills, technical capabilities, and the work type allows it. Employers must provide necessary tools and logistics, and employees may use their own equipment if confidentiality and data protection are maintained. Employees must record their work activities as directed. The employer can revoke the remote work order at any time. Key principles include no need to amend employment contracts, temporary assignment, and informing employees about work procedures.
The biggest challenge is potential workplace accidents during remote work, often underestimated by employers. The lack of clear regulations complicates safety compliance. Employers are responsible for workplace accidents under the labor code and occupational health and safety (BHP) rules. The Chief Labor Inspectorate (GIP) may choose not to investigate remote work accidents but doesn't absolve employers from determining accident causes and preparing post-accident reports.
Employees are always entitled to ZUS accident insurance benefits. Employers may face civil liability, especially when they lack control over remote work conditions. Implementing internal regulations like remote work instructions, outlining basic duties and risk analysis, is the safest approach for employers.
Some of the proposed tax changes are positive, simplifying compliance. However, simultaneously, additional penal fiscal sanctions are planned. Key changes include:
Exemptions from Documentation: Tran
Some of the proposed tax changes are positive, simplifying compliance. However, simultaneously, additional penal fiscal sanctions are planned. Key changes include:
Exemptions from Documentation: Transactions between Polish branches of foreign companies, transactions covered by tax or investment agreements, safe harbor transactions for loans, and pure re-invoicing (meeting specific criteria such as no value-added, no mark-up, no allocation keys, unrelated to other controlled transactions, immediate settlement, and no transactions with tax havens) are exempt.
Transfer Pricing Adjustments: Taxpayers can apply downward adjustments if they receive accounting evidence confirming the transfer pricing correction from a related party. The obligation to report transfer pricing corrections in the annual tax return is removed.
Extended Deadlines: The deadline for submitting transfer pricing documentation upon request is extended to 14 days. The deadline for preparing local transfer pricing documentation is extended to the end of the 10th month after the tax year's end. The deadline for submitting transfer pricing information (TPR) is extended to the end of the 11th month after the tax year's end.
Analyses: Exemptions from comparability/conformity analyses are available for controlled transactions involving micro/small enterprises, non-controlled transactions with tax havens, and transactions meeting safe harbor criteria for low-value services.
Penal Fiscal Code Sanctions: Failure to prepare or inaccurate preparation of transfer pricing documentation or information carries a fine of up to 720 daily rates (up to PLN 26.9 million). Late submission results in a fine of up to 240 daily rates (up to PLN 8.9 million).
Other Changes: VAT must be included in the value of a controlled transaction if the taxpayer has limited or no right to deduct it. The separate statement regarding the preparation of transfer pricing documentation and the market conformity of transfer prices is eliminated; this statement is incorporated into the TPR form. The TPR form must be signed by the head of the unit (as defined by accounting law) and by an authorized representative (procurator or professional attorney). The obligation to prepare and submit the ORD-U form is waived for taxpayers required to submit transfer pricing information (except for taxpayers conducting transactions with tax havens). Documentation obligations are now linked to the taxpayer's tax year instead of the accounting year.
Therefore, from January 1, 2022, the only form of taxation for income (revenue) derived from so-called private rentals will be a flat-rate tax on recorded revenue. This, in turn, may
**Translation:**
Therefore, from January 1, 2022, the only form of taxation for income (revenue) derived from so-called private rentals will be a flat-rate tax on recorded revenue. This, in turn, may cause private rentals to become less profitable after the introduction of tax changes.
CURRENT RULES
Currently, according to the PIT Act, the taxpayer has the right to choose the taxation of income from so-called private rental. The first option is taxation according to general rules (tax scale). In this situation, the taxpayer determines the revenue they earn and deducts from it the costs associated with the property (e.g., property insurance, renovation, furnishings, loan interest, and property tax). From the income thus obtained, they pay PIT tax according to the scale, i.e., 17% or 32%. The second method is taxation based on a flat-rate tax on recorded revenue. According to the rates in force in 2021, the flat-rate tax on recorded revenue is 8.5% of revenue up to PLN 100,000 per year and 12.5% of revenue exceeding this amount.
In the case of renting residential premises conducted as part of business activity, it is also possible to use a flat rate or taxation according to the scale or taxation at a flat rate of 19%.
Taxpayers incurring significant costs related to the rented property may not show taxable income or show income in a small amount under the current legal status.
PLANNED NEW RULES - POLISH DEAL
The draft regulations assume that from January 1, 2022, the only form of taxation of taxpayers' income from so-called private rental will be a flat-rate tax on recorded revenue. As a result, the possibility of choosing between taxation of rental income with a recorded flat rate and general rules will disappear. In addition, taxpayers will lose the ability to reduce the tax base by the costs associated with obtaining this income, because the taxation will be based not on income, but on the landlord's revenue from the lease. Furthermore, it should be noted that with flat-rate taxation, it is not possible to take advantage of the tax-free amount, which from January 1, 2022, is to be PLN 30,000.
At the same time, the project excludes depreciation deductions for residential buildings and premises rented as part of so-called private rental and as part of business activity from tax-deductible expenses.
Information on other tax changes under the Polish Deal project can be found HERE.
If you are interested in details regarding the above changes, please contact us.
rental, taxes, Polish Deal
Feel free to contact us
agnieszka.drozdz-wilk@moorepolska.pl
**Summary:**
From January 1, 2022, the "Polish Deal" legislation will mandate a flat-rate tax on recorded revenue as the sole method for taxing income from private rentals in Poland. This eliminates the option of using general taxation rules, potentially reducing profitability for landlords. Currently, landlords can choose between general rules (17% or 32% tax on income after deducting costs) or a flat-rate tax (8.5% on revenue up to PLN 100,000, and 12.5% above). The change means landlords can no longer deduct property-related expenses like insurance or mortgage interest, and cannot avail of the tax-free allowance of 30,000 PLN. The new rules also prevent depreciation deductions for rental properties, impacting both private and business rentals. This shift is significant because it taxes gross revenue rather than net income, potentially increasing the tax burden for landlords who previously benefited from deductible expenses.
The minimum wage in Poland is subject to annual negotiations within the Tripartite Labour Council. By June 15th each year, the Council of Ministers is obligated to present a proposal for the next year
The minimum wage in Poland is subject to annual negotiations within the Tripartite Labour Council. By June 15th each year, the Council of Ministers is obligated to present a proposal for the next year's minimum wage to the Council. In 2021, this deadline was missed, necessitating the government to set the minimum wage through a regulation. A draft regulation proposing increases for 2022 was presented on July 16, 2021.
The Ministry of Development, Labour and Technology announced that the minimum wage for employees on standard employment contracts would increase by PLN 200 gross (7.1%) to PLN 3,000 gross in 2022. The minimum hourly rate for specific civil law contracts was proposed to rise by PLN 1.30 to PLN 19.60 gross. These changes are estimated to affect around 2.2 million workers. The estimated cost of this increase for 2022 is approximately PLN 5.24 billion for small and medium-sized enterprises and PLN 789 million for large entities. For an employee under 26, working in their place of residence, the net increase after tax relief and excluding PPK contributions would be PLN 141.05, bringing their take-home pay to PLN 2,202.72. For employers, the cost associated with such an employee would increase by about PLN 240. Employers have largely accepted the government's proposal, though trade unions had advocated for a higher minimum wage of PLN 3,500 gross. The final agreement deadline for setting the minimum wage is September 15, 2021.
When hiring part-time employees, calculating their annual leave entitlement can be challenging. According to the Polish Labour Code (Art. 154§2), leave is granted on working days according to the empl
When hiring part-time employees, calculating their annual leave entitlement can be challenging. According to the Polish Labour Code (Art. 154§2), leave is granted on working days according to the employee's schedule, measured in hours corresponding to their daily working time. One day of leave is equivalent to 8 hours of work.
For part-time employees, the leave entitlement is calculated proportionally to their working hours. Any fractional part of a day is rounded up to a full day. It's important to note that each leave day deducts the actual number of hours the employee would have worked. Employee tenure also plays a significant role, influencing the overall leave allowance.
The article provides specific examples for various part-time fractions (1/4, 1/3, 1/2, 2/3, 3/4, 7/8 of full-time) and distinguishes between employees with less than 10 years of service and those with over 20 years. For instance, a 1/4 time employee with less than 10 years of service is entitled to 40 hours of leave annually (5 days of 8 hours), while a 1/4 time employee with over 20 years gets 56 hours (7 days of 8 hours), assuming a 5-day work week with 2-hour shifts. Similar calculations are presented for other part-time ratios, highlighting how increased seniority translates to more total leave hours. For specific queries, individuals are encouraged to contact the provided expert.
Consolidation Documentation – Facilitation or Unnecessary Necessity?
7/26/2021
Companies preparing consolidated financial statements may view consolidation documentation as another time-consuming task, often seen as not directly impacting the quality of the report. However, well
Companies preparing consolidated financial statements may view consolidation documentation as another time-consuming task, often seen as not directly impacting the quality of the report. However, well-prepared consolidation documentation offers numerous advantages and improvements.
Is consolidation documentation mandatory? Yes, under Polish law, the parent entity is obligated to prepare and update consolidation documentation. This is not optional.
What should consolidation documentation include? While the law provides a general outline due to the diverse nature of group transactions, it typically encompasses: financial statements of consolidated entities, adjusted statements of subsidiaries according to consolidation accounting policies, statements of subsidiaries translated into Polish Zloty, all consolidation adjustments and eliminations, calculations of fair value of net assets of subsidiaries, calculations of goodwill and impairment thereof, minority interest calculations, and calculations of exchange differences from foreign currency translations. This list is not exhaustive, and companies can expand it to suit their specific needs. The completed documentation must be signed by the preparer and the management of the parent entity.
What are the benefits of preparing consolidation documentation? Clearly prepared documentation speeds up the process of creating consolidated financial statements and reduces the workload for accounting departments during audits. It also allows for a chronological tracking of consolidation adjustments, ensuring continuity in accounting departments even during staff changes.
For further inquiries regarding consolidation documentation, contact our audit department.
KRS Digitization - Electronic Applications from July 13, 2021
7/23/2021
The Polish National Court Register (KRS) is undergoing digitalization. As of July 1, 2021, paper applications to the KRS will no longer be accepted for entities in the business register. All changes m
The Polish National Court Register (KRS) is undergoing digitalization. As of July 1, 2021, paper applications to the KRS will no longer be accepted for entities in the business register. All changes must be submitted via the Portal Rejestrów Sądowych (Court Registers Portal) at https://prs.ms.gov.pl. Paper applications will be returned without a chance to correct errors. This doesn't apply to associations, which can still file paper applications, but online options are also available.
Using the portal for KRS applications requires user registration and authentication via a qualified electronic signature or Trusted Profile (Profil Zaufany). A representative or attorney must create the account. Applications will use interactive online forms to collect the same information as before. Payment, typically 350 zł, will be enforced online before submission, similar to the S24 portal. The digitalization includes receiving court notifications electronically, with rulings accessible by logging into the portal. The portal also enables searching KRS entities, reporting and viewing financial documents, and accessing the S24 portal. Notarized documents require specifying the registration number in the Central Repository of Electronic Notarial Act Extracts, replacing scanned copies. These changes aim to accelerate registration procedures, reduce paperwork, shorten processing times, minimize errors, and allow electronic access to registration files for cases initiated after July 1st.
Ticket as invoice - important change from July 1, 2021
7/12/2021
An amendment to the regulation on issuing invoices, effective from July 1st, 2021, has changed how certain tickets are treated for VAT purposes. Previously, tickets from carriers like PKP, PKS, and LO
An amendment to the regulation on issuing invoices, effective from July 1st, 2021, has changed how certain tickets are treated for VAT purposes. Previously, tickets from carriers like PKP, PKS, and LOT could be considered VAT invoices if they included specific information: the issuing date and number, the carrier's name and tax identification number (NIP), details about the service provided, the tax amount, and the total amount due. Additionally, the journey had to cover a minimum distance of 50 kilometers.
The key change introduced by the new regulation is the removal of this 50 km distance limitation. Consequently, as of July 1st, any single-use travel ticket, regardless of the distance traveled, is now considered a VAT invoice, provided it still meets all the previously stated information requirements. This change simplifies the process for passengers who can now use these tickets as VAT invoices. While urban transport tickets could also qualify, they often lack the necessary data specified in the regulation.
This updated regulation impacts how tickets are recognized for accounting and tax purposes.
Hypothetical Capital Interest Benefit for CIT Taxpayers
7/7/2021
The amended Corporate Income Tax Act, specifically Article 15cb, allows for the inclusion of hypothetical interest on capital contributions and profits allocated to reserves as tax-deductible costs. T
The amended Corporate Income Tax Act, specifically Article 15cb, allows for the inclusion of hypothetical interest on capital contributions and profits allocated to reserves as tax-deductible costs. This provision incentivizes companies to retain profits rather than relying solely on external financing, as interest on external debt typically reduces taxable income but represents an actual company expense.
Tax-deductible costs for capital acquisition are recognized when a resolution to transfer profit to reserves is passed, or for shareholder contributions, upon the funds' arrival in the company's bank account. These hypothetical interest amounts can be recognized as tax costs in the year of the resolution, the receipt of contributions, and the two subsequent tax years.
The regulation has conditions. A primary limit is PLN 250,000 for tax-deductible costs per taxpayer annually. Interest cannot be calculated on contributions intended to cover balance sheet losses. If shareholders receive a distribution of retained profits or have their capital contributions returned within three years from the end of the tax year in which the profit was retained or contributions were received, the tax benefit is lost, requiring correction of tax costs.
The deductible amount is calculated by multiplying the NBP reference rate from the last business day of the preceding year, increased by 1 percentage point, by the sum of capital contributions and profits allocated to reserves. The maximum hypothetical interest allowed as a tax-deductible cost offers a tax benefit of PLN 47,500 annually.
An anti-avoidance clause, effective from January 1, 2021, disallows the application of Article 15cb if the decision to retain profits or make capital contributions is primarily for tax benefits without sound economic reasons beyond taxation. This applies particularly to entities that historically paid dividends instead of retaining profits.
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The amended Corporate Income Tax Act allows companies to deduct hypothetical interest on capital contributions and retained profits, simulating the cost of external financing. This encourages profit retention. Tax benefits are recognized upon resolutions for profit allocation or receipt of contributions and can be claimed for up to three years. Key conditions include an annual deduction limit of PLN 250,000 and a prohibition on using contributions for losses. Tax benefits are forfeited if retained profits are distributed or contributions are returned within three years. The deductible amount is based on a reference rate plus one percent, applied to contributions and retained profits. An anti-avoidance clause prevents the use of this provision if the primary motive is tax advantage without economic justification.
Effective July 1, 2021, amendments to regulations concerning the detailed scope of data in VAT declarations and records come into force, impacting JPK VAT filings submitted for July (due August 25th).
Effective July 1, 2021, amendments to regulations concerning the detailed scope of data in VAT declarations and records come into force, impacting JPK VAT filings submitted for July (due August 25th). These changes are partially related to the e-commerce law also effective July 1st.
The new JPK_V7 introduces symbols like "WSTO_EE" for intra-community distance sales and telecom/broadcasting/electronic services to non-taxable entities, replacing "SW" and "EE." Intermediary platforms not registered in IOSS or OSS but responsible for VAT on non-EU shipments will use "IED."
Other key changes include: removing the mandatory "MPP" designation on both sales and purchases (though required on sales invoices); allowing aggregated reporting of simplified invoices (receipts with NIP under PLN 450 or EUR 100) and highway toll/single-ticket transport invoices, with separate JPK_FA reporting unchanged; mandating the reporting of payment/receipt dates for "bad debt relief" corrections. The regulation clarifies GTU code applications, referencing CN 2020 or PKWiU 2015 classifications, including GTU_12 for audit services (PKWiU 69.20.1). GTU codes are renumbered "GTU_01" to "GTU_13," are not used for "WEW" and "RO" transactions, and internal correction notes for input tax (art. 86 section 19a) can be reported via the "WEW" document in the absence of a correcting invoice. Procedures codes are waived for internal sales records "RO", and the "TP" designation is removed when connections between parties result only from ties to the State Treasury or local government.
Removing "MPP" is a positive simplification, but new obligations like reporting payment terms for bad debt relief are introduced.
#MoorePolskaTeam, Pomorski Magazine, Moore Polska, Piotr Witek, interview
Moore Polska's team, working in the Pomorski region, recently participated in an interview with Piotr Witek. This engagement
#MoorePolskaTeam, Pomorski Magazine, Moore Polska, Piotr Witek, interview
Moore Polska's team, working in the Pomorski region, recently participated in an interview with Piotr Witek. This engagement provided an opportunity for Moore Polska to showcase its presence and contributions within the Pomorski Magazine. The interview likely delved into various aspects of the company's operations, its impact on the local economy and community, and its future aspirations. Piotr Witek, as the interviewer, would have aimed to elicit insightful responses from the Moore Polska representatives, offering readers a comprehensive understanding of their work. Such interviews are crucial for building brand visibility, fostering relationships with local media, and communicating the company's values and achievements to a wider audience. The collaboration between Moore Polska and Pomorski Magazine highlights the importance of regional media in amplifying the stories of businesses operating within specific geographic areas, thereby strengthening the local narrative and promoting economic development.
Parental leave in 2022 will see significant changes, particularly for fathers, as EU member states must adapt their laws to the EU Work-Life Balance Directive by August 2, 2022. Directive (EU) 2019/11
Parental leave in 2022 will see significant changes, particularly for fathers, as EU member states must adapt their laws to the EU Work-Life Balance Directive by August 2, 2022. Directive (EU) 2019/1158 introduces substantial modifications to parental rights, impacting parental leave and flexible work arrangements.
Key changes focus on fathers' parental leave entitlements. Firstly, fathers will gain an individual right to four months of parental leave, usable before the child turns eight, independent of the mother's entitlement. Currently, if a mother isn't eligible for parental leave, she cannot transfer this right to the father. Secondly, fathers will be allocated a non-transferable minimum of two months of parental leave. If not used, these two months will be forfeited.
These reforms aim to encourage fathers to utilize their parental leave, facilitate mothers' return to the workforce, and promote a more equal parenting model by increasing fathers' involvement in childcare. Ultimately, the directive seeks to create a more level playing field for both sexes in the labor market and reduce the gender pay gap.
Parental leave in 2022 brings important changes, especially for fathers, due to the EU Work-Life Balance Directive. By August 2, 2022, EU countries must align their laws with Directive (EU) 2019/1158. This directive significantly alters parental rights, including parental leave, with a focus on fathers.
The core changes grant fathers an individual entitlement to four months of parental leave, transferable before the child's eighth birthday, and this right is independent of the mother's eligibility. Furthermore, fathers will have a non-transferable minimum of two months of parental leave, which they must use or lose.
These measures are designed to encourage fathers' participation in parental leave, support mothers' re-entry into the workforce, and foster a more equitable family dynamic by increasing fathers' role in childcare. The overarching goal is to promote gender equality in the workplace and narrow the gender pay gap.
Financial statement - failure to file on time with the National Court Register
6/18/2021
Financial statements must be approved no later than six months after the balance sheet date, a deadline extended in 2020 due to the pandemic. They must then be submitted within 15 days of approval. In
Financial statements must be approved no later than six months after the balance sheet date, a deadline extended in 2020 due to the pandemic. They must then be submitted within 15 days of approval. In Poland, financial statements are exclusively accepted in electronic format and must be filed with the National Court Register (KRS).
The filing requirement includes the annual financial statement, the auditor's report (if applicable), a resolution on approval and profit/loss distribution, and the management board's activity report (if mandated). Failure to comply can result in fines or imprisonment for the company's management. The KRS can initiate enforcement proceedings, demanding submission within seven days under penalty of a fine. Persistent non-compliance by partnerships may lead to dissolution or liquidation.
The company's management is responsible for electronically filing the financial statement with the KRS. Submitting late is a criminal offense, prosecuted against the manager, not the company. Properly filed statements require electronic signatures from the person managing the accounting records and the current management body members. Statements must be signed by the management composition in office at the time of submission, not those who served during the accounting year.
The text discusses the importance of setting clear boundaries between a family business and family life, drawing a parallel to the saying, "Good fences make good neighbors." It argues that while an in
The text discusses the importance of setting clear boundaries between a family business and family life, drawing a parallel to the saying, "Good fences make good neighbors." It argues that while an invisible, non-restrictive boundary might seem preferable, a well-defined, even "obstructed" one is crucial for the health of both the business and the family.
Failing to separate business time from family time, even with small, seemingly innocent concessions, can lead to the gradual erosion of personal boundaries. This can result in the business encroaching on family life, causing detriment to one or the other. The author suggests starting by maintaining a business-free atmosphere during important family occasions and gradually extending this to everyday conversations.
Drawing on the insights of David Bork, the text emphasizes defining clear roles, responsibilities, ownership, and private matters within a family business to prevent conflicts, much like precisely defined national borders prevent disputes. When a business consumes excessive family time due to disorganization, constant firefighting, or regulatory ignorance, it's a sign that boundaries are being crossed. The solution lies in organizing the business's core elements to reclaim time for family. The latter part of the text offers business consulting services to achieve this by assessing the company, auditing processes, managing costs and taxes, handling HR and legal matters, and developing client acquisition strategies.
The importance of clearly defined boundaries between a family business and personal life cannot be overstated. Just as good fences maintain good neighborly relations, clear divisions between work and family prevent conflicts and ensure the well-being of both spheres. While a subtle, unobtrusive boundary might seem ideal, a well-established, even guarded one is essential. Neglecting to set and maintain these boundaries, even through minor compromises, can lead to the business gradually encroaching on family time, ultimately jeopardizing one or both. Establishing a business-free environment during significant family events and extending this practice to everyday conversations is a practical approach. Defining roles, responsibilities, and private matters within a family business is crucial for preventing disputes, mirroring how clear national borders avert conflicts. When a business's disorganization leads to excessive demands on family time, it signifies a boundary breach. Organizing the business's core functions is key to reclaiming personal time for family. Professional consulting can aid in assessing the company, auditing operations, managing finances, and developing strategies to achieve this balance.
The VAT e-commerce package introduces EU-wide directives to combat VAT fraud in cross-border B2C e-commerce. Previously, sales below individual national thresholds (35,000-100,000 euros) could be taxe
The VAT e-commerce package introduces EU-wide directives to combat VAT fraud in cross-border B2C e-commerce. Previously, sales below individual national thresholds (35,000-100,000 euros) could be taxed in the country of dispatch. The new package standardizes this threshold to 10,000 euros net across all EU member states. Sales exceeding this limit, based on the current and previous tax year's value, will now be taxed in the destination country. This lower threshold means more businesses will need to register for VAT in countries where they supply goods.
To simplify this, the VAT-OSS (One Stop Shop) procedure allows businesses to declare and pay VAT for all EU B2C transactions through a single VAT return in their home country, applying the destination country's VAT rates. Additionally, the Import One Stop Shop (IOSS) simplifies VAT for imported goods valued up to 150 euros from outside the EU. Under IOSS, VAT is collected at the point of sale and declared in the member state of identification.
Furthermore, online platforms facilitating the sale of low-value imported goods (under 150 euros) or intra-EU distance sales are now considered to have received and supplied these goods themselves, making them responsible for collecting and remitting VAT. This also applies to platforms enabling distance sales within the EU by businesses not established in the EU.
75 million PLN for investments improving working conditions and OHS!
5/28/2021
On May 19, 2021, the Social Insurance Institution (ZUS) announced a new call for applications for co-financing of investment and advisory projects. These projects, conducted by contribution payers, ai
On May 19, 2021, the Social Insurance Institution (ZUS) announced a new call for applications for co-financing of investment and advisory projects. These projects, conducted by contribution payers, aim to improve occupational safety and health, reduce workplace accidents and occupational diseases, and mitigate the impact of risk factors.
Eligible applicants include micro, small, medium, and large enterprises. To qualify, applicants must meet several conditions: no arrears in social and health insurance contributions or taxes, not be in bankruptcy or liquidation, and not have received a previous ZUS co-financing within the last three years or have repaid a previous co-financing within the same timeframe. The co-financing level varies by enterprise type, with a minimum of PLN 5,000 gross.
The application period was from June 1 to June 30, 2021. Eligible investments fall into technical areas such as technical installation safety, machinery safety, noise and vibration reduction, lighting, electrical safety, air purification and ventilation, safety at heights and in confined spaces, musculoskeletal load reduction, chemical and biological hazard protection, and personal protective equipment.
While the application process appears simple, it requires formal and substantive evaluation. Applicants must ensure their documentation is complete and meets the assessment criteria outlined by ZUS. For those uncertain about completing the application, seeking assistance from specialists in labor and OHS matters is recommended to save time and potentially leverage expert insights and implementation examples for workplace improvements.
Proposed VAT changes regarding the import of services
5/26/2021
The Ministry of Finance is planning to introduce "Slim VAT 2," a package of simplifications for Value Added Tax (VAT). These changes aim to streamline tax settlements by removing unnecessary formaliti
The Ministry of Finance is planning to introduce "Slim VAT 2," a package of simplifications for Value Added Tax (VAT). These changes aim to streamline tax settlements by removing unnecessary formalities and outdated obligations, including provisions for the import of services.
Currently, input VAT on imported services can be deducted in the period the tax liability arises, provided it's settled within three months of the end of the month in which the liability occurred. Failure to do so results in paying the VAT due without deduction and incurring interest. A European Court of Justice ruling from March 18, 2021, concerning intra-Community acquisitions, highlighted inconsistencies with the EU's VAT system when declarations for tax due and deductible tax are made in different periods. Although this ruling specifically addressed intra-Community acquisitions, a similar mechanism applies to imported services, raising questions about potential conflicts with EU law.
The proposed changes would revert to the pre-2017 rules, allowing the settlement of both output and input VAT on imported services within the same tax return. Article 86, paragraph 1b of the VAT Act would be amended to remove the three-month condition. Additionally, taxpayers would gain the right to deduct input VAT not only in the period the liability arises but also in one of the three subsequent tax periods (or two for quarterly filers). This reform is expected to reduce the number of VAT return corrections, as seen in 2020 where over 55,000 taxpayers filed corrections, affecting over 1.3 million invoices. The proposed changes are under development, with some provisions of Slim VAT 2 potentially effective from October 1, 2021, and others from the beginning of 2022, contingent on successful legislative progression.
The concept of a family business is likened to a system of connected vessels. Increased pressure in one area, often stemming from stress, disappointment, or financial difficulties, inevitably disrupts
The concept of a family business is likened to a system of connected vessels. Increased pressure in one area, often stemming from stress, disappointment, or financial difficulties, inevitably disrupts the peace in another. Financial problems, in particular, can "radioactively" spread throughout the entire family. To prevent this, businesses must be built on solid foundations, using an analogy from construction.
Sand represents daily concentration on the business and profit, acknowledging that small, consistent actions build a lasting foundation. However, sand alone is insufficient; it requires other components. Lime symbolizes strict cost control, plugging financial leaks. Cement represents customers, the essential binder that connects all business segments. Satisfied customers are effective advertising and reduce costs, as retaining them is cheaper than acquiring new ones.
Water represents employees and all individuals supporting the business. Providing them with stable employment fosters loyalty and a committed workforce. The principle is that a business with solid foundations supports family growth, and a healthy family supports business development. Succession rates between generations highlight the importance of well-established family governance mechanisms. The text offers services to strengthen business foundations, conduct audits, reduce costs through tax advice, assist with HR and labor law, and develop business plans and growth strategies.
Activity Report – Principles of Effective Preparation
5/21/2021
What is a Management Report and Who is Obligated to Prepare It?
A management report is a descriptive and numerical document designed to enrich and supplement knowledge about an entity. It provides in
What is a Management Report and Who is Obligated to Prepare It?
A management report is a descriptive and numerical document designed to enrich and supplement knowledge about an entity. It provides information about the company's operations, intentions, and development prospects.
According to Article 49 of the Accounting Act, the management of a capital company, a joint-stock limited partnership, a mutual insurance company, as well as general partnerships and limited partnerships where all partners with unlimited liability are capital companies, joint-stock limited partnerships, or companies from other countries with a similar legal form, is obligated to prepare a management report along with the annual financial statements.
What Information Should a Management Report Contain?
Guidelines for the content of a management report are provided not only by the Accounting Act but also by National Accounting Standard No. 9 "Management Report." The legislator mandates that the report should include at least the following elements: events significantly impacting the entity during the financial year and up to the approval of the financial statements; anticipated development of the entity; significant achievements in research and development; current and anticipated financial situation; company branches; information on financial instruments, particularly risks (price changes, credit, significant cash flow disruptions, and liquidity loss), and the entity's financial risk management objectives and methods, including hedging. Information on own shares, including reasons for acquisition, number and nominal value of shares sold and acquired, and their accounting value, is also required.
If relevant for assessing the company's results and development, the report should also contain key financial and non-financial performance indicators, as well as information regarding employee and environmental matters.
Who Signs the Management Report and When is it Made Available?
The management report is prepared in Polish currency and the Polish language, covering the same period as the financial statements. It is signed by the unit's management, or all members if it is a multi-person governing body. Refusal to sign requires a written justification attached to the report. As per KSR No. 9, the management report is made available concurrently with the financial statements and within the same timeframe.
A management report is a comprehensive document providing a dual perspective on an entity's activities and future outlook. It is mandated for specific types of companies, including capital companies and certain partnerships where all unlimited liability partners are corporate entities. The report must detail significant events impacting the company, its developmental plans, R&D achievements, financial standing, and operational aspects like branches and financial instruments. Crucially, it must address financial risks such as price changes, credit risk, cash flow disruptions, and liquidity, alongside the entity's strategies for managing these risks and hedging transactions. Information on treasury shares, including acquisition rationale and transaction details, is also a mandatory component. Beyond financial data, the report should encompass key financial and non-financial performance indicators, as well as employee and environmental considerations if they are material to assessing the company's performance and development. The report, prepared in Polish, is signed by the management and released concurrently with the financial statements.
Polish Deal – the most important planned tax changes
5/20/2021
RAISING THE TAX-FREE AMOUNT
The Personal Income Tax (PIT) tax-free amount is proposed to be increased to PLN 30,000 annually for all taxpayers. Currently, the tax-free amount varies based on income l
RAISING THE TAX-FREE AMOUNT
The Personal Income Tax (PIT) tax-free amount is proposed to be increased to PLN 30,000 annually for all taxpayers. Currently, the tax-free amount varies based on income levels, standing at PLN 3,089 for incomes between PLN 13,000-85,000 and decreasing to PLN 0 for annual incomes exceeding PLN 127,000. It also does not currently apply to income from business activities taxed at a flat rate.
HIGHER TAX BRACKET
For taxpayers whose income is subject to the tax scale, the 32% tax rate would apply to income exceeding PLN 120,000, compared to the current threshold of PLN 85,528.
HEALTH CONTRIBUTION BASED ON INCOME
Previously, entrepreneurs could pay insurance contributions based on a declared base amount, effectively resulting in a lump-sum health contribution. The proposed change mandates that individuals engaged in business activities pay health contributions proportionally to their income, similar to employees. This change also eliminates the option to deduct health contributions from tax.
The planned reforms aim to reduce tax burdens for individuals earning up to approximately PLN 11,000 gross per month (for employment contracts) and PLN 6,000 gross per month (for business activities). Those earning above these figures will face higher combined PIT and health contribution payments.
CHANGES IN VAT
Intra-group settlements within capital groups will not be subject to VAT, and financial transactions may become subject to VAT.
CHANGES IN CIT
The program introduces a new automation and robotization relief, expands R&D and IP Box reliefs, and offers tax relief for medium-sized enterprises planning an IPO. Support for hiring innovative employees is also proposed through salary deductibility from CIT.
"RETURN RELIEF"
Individuals returning to Poland or those who developed businesses abroad will be able to reduce their taxable income by PLN 50,000 in their PIT returns for 2022 and 2023.
FLAT TAX ON FOREIGN INCOME
A solution for non-residents relocating their tax residency to Poland, involving a fixed flat tax on foreign income paid in Poland.
"CAPITAL RETURN"
An option for citizens with assets or hidden income abroad to repatriate them without facing tax avoidance investigations.
This proposal outlines significant changes to Poland's tax system, including a universal increase in the tax-free allowance, a higher threshold for the 32% tax bracket, and a shift in how health contributions are calculated for entrepreneurs. The reforms aim to benefit lower earners while potentially increasing the tax burden for higher earners. Corporate tax changes include new reliefs for automation, R&D, and IPO financing, along with provisions for returning expatriates and repatriating foreign assets.
The proposed changes aim to reduce tax burdens for individuals earning up to approximately PLN 11,000 gross monthly (for employment contracts) and PLN 6,000 gross monthly (for business activities). Those earning above these thresholds will likely see an increase in their total PIT and health contribution payments. The reforms include raising the tax-free amount to PLN 30,000 annually for all taxpayers and adjusting the 32% tax bracket threshold to PLN 120,000. A significant change for entrepreneurs is the shift from lump-sum health contributions to payments proportional to income, alongside the removal of health contribution deductibility from tax. Corporate tax measures include new reliefs for automation, expanded R&D and IP Box reliefs, support for IPOs, and incentives for hiring innovative employees. Additionally, a "return relief" will allow returning workers and those developing businesses abroad to reduce taxable income, and a "capital return" option aims to facilitate the repatriation of foreign assets and income. VAT rules will also see changes, exempting intra-group settlements and potentially taxing financial transactions.
National Accounting Standards (KSR) are standards and interpretations that provide guidance on accounting matters when the Accounting Act lacks specific answers. Developed by the Accounting Standards
National Accounting Standards (KSR) are standards and interpretations that provide guidance on accounting matters when the Accounting Act lacks specific answers. Developed by the Accounting Standards Committee, these standards offer solutions for issues like balance sheet valuations and financial statement disclosures. Currently, thirteen published Standards supplement the Accounting Act and bridge Polish regulations with International Accounting Standards.
A proposed new Standard focuses on financial statement preparation based on whether an entity adopts the going concern assumption. This assumption, fundamental to financial reporting as per the Accounting Act, presumes an entity will continue operating without significant change in the foreseeable future, avoiding bankruptcy or liquidation. It allows the application of other accounting principles without additional directives.
However, when the going concern assumption is not valid, the new Standard provides crucial guidance. It addresses the assessment of the assumption's validity and outlines accounting principles applicable when an entity ceases operations. The Standard includes guidelines for recognizing situations where the going concern assumption is unjustified, preparing financial statements for entities ceasing operations (including asset and liability valuation), rules for closing and opening accounting books, inventory, and financial statement approval and audit in such scenarios, and disclosure requirements regarding the going concern assumption.
The project does not introduce revolutionary changes but significantly enhances the detail of guidance on disclosures and balance sheet valuations when the going concern assumption is not met. It also covers other accounting requirements for entities ceasing operations or when circumstances preventing continuation cease.
going concern, national accounting standards, KSR, accounting, financial statement
Counteracting and Combating Fraud – The Important Role of Whistleblowers
5/12/2021
The Association of Certified Fraud Examiners (ACFE) released an updated Report to the Nations on employee fraud in April 2020. The study of 2,504 fraud cases revealed an average loss of $1.6 million p
The Association of Certified Fraud Examiners (ACFE) released an updated Report to the Nations on employee fraud in April 2020. The study of 2,504 fraud cases revealed an average loss of $1.6 million per company.
Employee fraud involves misusing a company position for personal gain and falls into three main categories: asset misappropriation, corruption, and financial statement fraud. Factors like tenure, gender, education, and age influence the amount of damage caused. Men commit the majority of frauds (72%), and better-educated employees with longer tenures tend to cause greater losses.
The Fraud Triangle theory explains why employees commit fraud, highlighting the importance of addressing risks to prevent it. Weak internal controls, ignored regulations, ineffective oversight, and a tolerant organizational culture contribute to fraud.
The most common methods for detecting fraud, according to the ACFE report, are tips from whistleblowers (43%), internal audits (15%), management reviews (12%), other sources (6%), and by chance (5%). Implementing a whistleblower program is crucial for effectively detecting and preventing employee fraud. Approximately half of whistleblowers are employees, while the other half are third parties, including clients, vendors, competitors, and anonymous sources. Thoroughly evaluating whistleblower information should be a priority in fraud prevention.
Employee Claims - Scope and Statute of Limitations
5/6/2021
Employee claims are rights to demand specific actions from an employer, such as wage payments or vacation time. The statute of limitations for these claims is strictly defined by the Labor Code and ca
Employee claims are rights to demand specific actions from an employer, such as wage payments or vacation time. The statute of limitations for these claims is strictly defined by the Labor Code and cannot be altered. This 3-year limitation applies to both financial claims (like unpaid wages or bonuses) and non-financial claims (like unused vacation).
The limitation period starts when the claim becomes due, generally the day the obligation should have been fulfilled. For wages, this is the day following the payment deadline set in the employment contract or company regulations, with the ultimate deadline being the 10th of the following month. Claims for bonuses or jubilee awards expire three years after the payment date or eligibility date. Overtime pay claims expire three years from the date of payment for the month in which daily overtime occurred, or from the end of the settlement period for average weekly overtime.
Retirement or disability severance pay claims expire three years after termination if the employee met the eligibility criteria. Vacation claims expire three years after the end of the calendar year the vacation was earned, or the end of the third quarter of the following year for overdue vacation. Severance pay in lieu of unused vacation expires three years from termination. Claims to establish an employment relationship have no statute of limitations, though associated wage claims are subject to the 3-year limit. Claims confirmed by a court ruling or settlement expire after 10 years.
We invite you to explore the training offer of the Moore Polska Academy.
EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE (EU) 2019/1937
The Directive of October 23, 2019, on the
This event has concluded.
We invite you to explore the training offer of the Moore Polska Academy.
EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE (EU) 2019/1937
The Directive of October 23, 2019, on the protection of persons reporting breaches of Union law, mandated member states, including Poland, to implement regulations enabling the reporting of irregularities within organizations.
The term "whistleblower" in Poland carries a negative cultural connotation, often unfairly associated with informing. However, it's important to consider the broader perspective and global trends.
BENEFITS OF IMPLEMENTING A SYSTEM FOR REPORTING IRREGULARITIES
Organizations that have implemented channels for reporting irregularities demonstrate transparent business practices, respecting legal regulations and ethical principles. These entities foster greater trust among contractors, leading to stronger development, while employees appreciate fair play.
Companies seeking to avoid liability due to irregularities with their business partners choose entities with impeccable reputations, prioritizing both their image and the security of economic transactions, aligning with compliance principles.
A whistleblower protection system is part of a broader compliance system within an organization, and the Directive regulates the protection of individuals (whistleblowers) who report irregularities and violations they learn about in a work-related context.
IMPLEMENTING A SYSTEM FOR REPORTING IRREGULARITIES
To ensure effective implementation, employees should understand what constitutes an irregularity. Employers can create (ideally in cooperation with employees) a catalog of ethical standards, rules for accepting gifts, contractor control procedures, and consistently adhere to and promote them. This offers dual benefits: employees become aware of company rules, and they can report violations without fear of reprisal if done in good faith.
Company leaders can then address reported irregularities to eliminate them and prevent potential financial or reputational crises.
Implementing a whistleblower protection system can be formal (establishing procedures) or an opportunity to build a new organizational culture – developing employee engagement in responsible and ethical business growth.
WHO IS COVERED BY THE DIRECTIVE'S REGULATIONS?
The new regulations cover all employers with at least 50 employees, regardless of whether they are in the public or private sector.
For private sector entities with 50 to 249 employees, the implementation deadline may be postponed until December 17, 2023, but for larger employers (250 or more employees), the regulations are effective from December 17, 2021.
The European Parliament and Council Directive (EU) 2019/1937, EU Directive, directive on the protection of persons reporting violations, Directive on the protection of whistleblowers, GDPR, whistleblowers, Whistleblowing
Contact us:
piotr.witek@moorepolska.pl *** Summary:
The Moore Polska Academy highlights the European Parliament and Council Directive (EU) 2019/1937, which mandates member states to implement systems for reporting irregularities, protecting whistleblowers. Despite negative connotations in Poland, the implementation of such systems fosters transparent business practices, builds trust with contractors, and encourages employee engagement. Companies benefit by mitigating risks, enhancing reputation, and preventing potential crises. The directive covers employers with 50 or more employees, with differing implementation deadlines based on company size. By defining irregularities, establishing ethical standards, and ensuring non-retaliation for good-faith reporting, organizations can build a culture of compliance and responsible business growth. A formal approach to whistleblower protection is important, but an opportunity for a new organization culture is even better. Interested parties are invited to contact Moore Polska for further information.
Allowance for remote work equipment without personal income tax
4/27/2021
During the pandemic, remote work became prevalent across many sectors, turning homes into offices for numerous employees. This new arrangement presented both employers and employees with unprecedented
During the pandemic, remote work became prevalent across many sectors, turning homes into offices for numerous employees. This new arrangement presented both employers and employees with unprecedented challenges and questions. Current remote work guidelines stem from Article 3.1 of the "Crisis Shield," allowing employers to mandate temporary remote work during and up to three months after the COVID-19 state of emergency to combat the virus.
However, the legislation lacks detailed regulations regarding workplace accidents, health and safety, and reimbursement for home office expenses. Employees often bear additional costs, such as increased energy and internet bills, without clear compensation rules. Employers often attempt to address these issues independently, often including remote work provisions in their work regulations. However, this raises questions about whether such compensation constitutes taxable income for employees.
Recent interpretations by the Director of the National Fiscal Information have offered clarity on this matter. An interpretation from February 1, 2021, clarified that employers are responsible for providing necessary remote work tools, and employees do not incur taxable income. This applies regardless of whether the employer provides the equipment directly or reimburses the employee for incurred costs. Subsequent interpretations confirmed that reimbursements for equipment, internet, and electricity expenses related to remote work do not constitute employee income.
Accident insurance contribution - are you sure you are paying the optimal rate?
4/23/2021
How do changes affect different groups of contribution payers?
For payers reporting no more than 9 insured individuals for accident insurance, the accident insurance rate remains unchanged at 1.67%.
How do changes affect different groups of contribution payers?
For payers reporting no more than 9 insured individuals for accident insurance, the accident insurance rate remains unchanged at 1.67%. For those reporting 10 or more insured, rates have changed for specific industries. Increases include fishing (1.47%), mining support services (3.33%), beverage production (1.47%), tobacco production (1.47%), textile production (1.73%), furniture production (1.73%), and air transport (0.93%).
Decreases occurred in forestry and logging (2.53%), coal mining (3.06%), oil and gas extraction (2.53%), metal ore mining (2.80%), other mining and quarrying (1.73%), clothing production (0.67%), paper production (1.47%), pharmaceutical production (0.93%), metal production (2.26%), waste management and remediation (1.47%), building construction (1.20%), civil engineering (1.47%), water transport (1.47%), warehousing and transport support (1.20%), and rental and leasing (0.93%). Rates for other activities remain unchanged.
The Social Insurance Institution (ZUS) determines the accident insurance rate for payers required to submit ZUS IWA information and notifies them by April 20, and the information will also be available on PUE ZUS platform. Others determine their rate based on their Polish Classification of Activities (PKD) code. The accident insurance rate varies based on the type of activity, risk category, number of workplace accidents, and number of employees working in hazardous conditions.
Businesses can reduce their accident insurance rate by analyzing charges, recovering undue payments, implementing preventive measures, and adhering to occupational health and safety regulations. ZUS also offers grant programs to improve workplace safety and reduce hazards, which can be used for technical upgrades, noise and vibration protection, lighting modernization, safety equipment, and more. All sizes of businesses can apply for these grants.
Classification of Professions and Specialties – Changes from May 16, 2021
4/22/2021
From May 16, 2021, employers are required to indicate the code of the profession performed by employees in the ZUS ZUA and ZUS ZZA forms. The classification of professions and specialties is a systema
From May 16, 2021, employers are required to indicate the code of the profession performed by employees in the ZUS ZUA and ZUS ZZA forms. The classification of professions and specialties is a systematic collection of professions and specialties in the labor market. A profession is defined as a set of professional activities, separated as a result of the social division of labor. A specialty is defined as a division of labor within a profession, where certain activities require more in-depth knowledge.
The regulation does not govern the admission to practice a profession or the standardization of education. Instead, it provides a tool for statistics, employment, job placement, research, analysis, and forecasting related to the labor market. The classification has a hierarchical, five-level structure, grouping individual professions and specialties into elementary, medium, large, and major groups based on similarities in the skills required.
Family Business - Why It's Worth Investing Effort and Resources In...
4/19/2021
**An Attitude We Don't Wish Upon You**
The first part describes a negative attitude towards a family business, where the owner feels consumed by it, sacrificing personal time and family relationships
**An Attitude We Don't Wish Upon You**
The first part describes a negative attitude towards a family business, where the owner feels consumed by it, sacrificing personal time and family relationships. The business is a constant source of stress and complaints, making it difficult to find joy in its success. The owner feels trapped and overly dedicated.
**An Attitude Everyone Will Envy**
The second part presents a contrasting positive perspective. The business is viewed as a means to provide for the family's well-being, security, and future. It enables education for the children, allows the owner to be a good parent and spouse, and fosters a sense of freedom despite the constant demands. The business is a source of pride and fulfillment, facilitating the realization of life goals.
The text then transitions to offer help in transforming one's attitude towards their family business, highlighting its importance. The company offering this assistance emphasizes its own experience in building a family business and helping others succeed. Their services include assessing the business's foundations, ensuring its security, optimizing resource utilization through accounting and tax advice, and creating strategic development plans to guide difficult decisions, ensuring a stable future.
Loan from an employer as a form of employee support
4/15/2021
Dreaming of a special trip, urgent home repairs, or a desired car purchase but lack funds, have poor credit, or fear high-interest loans? A loan from your employer could be the ideal solution, offerin
Dreaming of a special trip, urgent home repairs, or a desired car purchase but lack funds, have poor credit, or fear high-interest loans? A loan from your employer could be the ideal solution, offering more favorable terms than traditional lenders.
However, remember that providing such support isn't mandatory for employers and may not be available in all companies. Employer loans offer benefits like low or zero interest rates, flexible repayment terms tailored to your financial situation, accessibility without a strong credit history, and quick access to funds.
On the downside, they might tie you to the company until the loan is repaid. Job loss could trigger immediate full repayment, and your salary will be reduced by the installment amount.
To obtain such a loan, submit a request specifying the amount and repayment period. The employer can reject the application based on factors like short employment duration. If approved, a written agreement outlining the terms and conditions is essential, including the amount, installments, repayment schedule, and what happens upon job termination.
Funding typically comes from operating capital, the Company Social Benefits Fund (ZFŚS), or Employee Savings and Loan Associations (PKZP).
The pandemic caused layoffs, but many companies are now recovering and rehiring staff, including former employees. Legally, several factors must be considered when rehiring.
Firstly, how long has it
The pandemic caused layoffs, but many companies are now recovering and rehiring staff, including former employees. Legally, several factors must be considered when rehiring.
Firstly, how long has it been since the previous employment ended? How many fixed-term contracts were previously signed, and for what total duration? Are new preliminary medical examinations and occupational health and safety (BHP) training required? Was the termination due to group layoffs, which trigger specific regulations?
Regarding probationary periods, the Labor Code allows only one re-employment on a probationary contract for the same position after at least three years since the previous contract ended or expired, as the trial period's purpose is considered fulfilled after the initial employment.
Fixed-term contracts are limited to 33 months and three contracts between the same parties. All employment periods are counted, regardless of breaks.
Preliminary medical examinations are waived if the rehire occurs within 30 days for the same position with identical working conditions, provided the employee has a valid medical certificate. However, BHP training is always mandatory before starting work.
Employee records can be continued if the break in employment was under 10 years, but this mainly applies to employment relationships started after January 1, 2019. Employee records for relationships before that date were stored for 50 years.
Finally, regarding Employee Capital Plans (PPK), rehired employees are automatically enrolled unless they submit a new opt-out declaration. If the employee has worked for the employer for at least 3 months within the previous 12 months, they are automatically enrolled in PPK upon rehire.
Due to an amendment to the CIT Act, starting in 2021, the legislator introduced additional restrictions on the possibility of settling tax losses. Until 2020, regulations disallowed loss deduction fro
Due to an amendment to the CIT Act, starting in 2021, the legislator introduced additional restrictions on the possibility of settling tax losses. Until 2020, regulations disallowed loss deduction from prior years following reorganizations. To limit tax avoidance by exploiting another entity's losses, further restrictions were implemented.
From January 1, 2021, a taxpayer's losses are disregarded when determining taxable income if the taxpayer acquired another entity or a business (or its organized part) through acquisition, contribution or monetary contribution used to purchase the entity/part, resulting in: (1) a complete or partial change in the taxpayer's primary business activity post-acquisition, or (2) at least 25% of the taxpayer's shares being held by entities that didn't hold those shares when the loss was incurred. A taxpayer cannot offset losses if reorganizations meeting these criteria occur, such as acquiring another entity or purchasing a business/organized part.
Even a partial shift in the taxpayer's main business activity triggers this restriction. Shareholding structure changes can also lead to limitations. These changes risk affecting reorganizations with legitimate economic reasons, not just those seeking tax benefits.
A regulation by the Minister of Family and Social Policy concerning the differentiated accident insurance contribution rate has been published. This regulation takes effect on April 1, 2021, with the
A regulation by the Minister of Family and Social Policy concerning the differentiated accident insurance contribution rate has been published. This regulation takes effect on April 1, 2021, with the contribution rates applicable from April 1, 2021, to March 31, 2022.
For payers not registered in REGON or those reporting no more than nine insured individuals, the accident insurance contribution rate remains unchanged at 1.67%, which is 50% of the highest rate of 3.33% for PKD B-09.
Payers reporting ten or more insured individuals will see changes based on their business activity. For instance, fishing (A-03), beverage production (C-11), tobacco product manufacturing (C-12), textile manufacturing (C-13), and furniture production (C-31) will experience an increase to 1.47% or 1.73%. Conversely, coal mining (B-05), oil and gas extraction (B-06), metal ore mining (B-07), and clothing manufacturing (C-14) will see a decrease in their contribution rates, with some falling significantly, such as coal mining to 3.06%.
The contribution rate remains unchanged for other business groups. For payers who have submitted ZUS IWA information for the last three consecutive calendar years, ZUS will determine the accident contribution rate and notify them in writing by April 20. This information will also be available on PUE ZUS. Other payers must determine their own accident insurance contribution rate based on their PKD and perceived risk level.
The "neutrality" principle of VAT accounting – an important ECJ judgment
3/24/2021
A judgment by the Court of Justice of the European Union (CJEU) on March 18, 2021, favors Polish taxpayers involved in intra-EU transactions. The court ruled that Article 86, paragraph 10b, point 2 of
A judgment by the Court of Justice of the European Union (CJEU) on March 18, 2021, favors Polish taxpayers involved in intra-EU transactions. The court ruled that Article 86, paragraph 10b, point 2 of the Polish VAT Act contradicts the core principles of the EU's common Value Added Tax system.
Previously, Polish VAT regulations stipulated that VAT due on intra-EU acquisitions had to be declared in the period the tax liability arose. For deductible VAT, taxpayers maintained neutrality in VAT settlement only if they included the deductible VAT in the same month as the VAT due, within three months of the end of the month the tax liability arose. Failure to meet this deadline resulted in the obligation to declare VAT due in the month of its accrual, while deductible VAT had to be accounted for "on current account" in the month of the actual correction. This often led to taxpayers needing to pay VAT due plus interest.
The CJEU determined that the Polish national regulation exceeded what was necessary for the correct collection of VAT and the prevention of tax fraud. EU law, therefore, prevents the application of these national provisions. The CJEU's model, which involves recognizing VAT due and deductible VAT in the same period for intra-EU transactions, simplifies current settlements for taxpayers and allows Polish businesses to reclaim paid interest where VAT was settled in a staggered manner.
While this case specifically concerned intra-EU acquisitions (WNT), its implications could extend to other transactions settled under the reverse-charge mechanism, such as the import of services.
Accounting departments face numerous questions regarding events occurring after the balance sheet date. These events are defined by National Accounting Standard No. 7 as favorable or unfavorable occur
Accounting departments face numerous questions regarding events occurring after the balance sheet date. These events are defined by National Accounting Standard No. 7 as favorable or unfavorable occurrences that happen after the balance sheet date but before the financial statements are approved, and which significantly impact the reported figures. Two conditions must be met: the event information must be received between the start of the new financial year and the approval of the financial statements, and the impact must be material.
There are two types of post-balance sheet events: those providing evidence of conditions existing at the balance sheet date, and those indicating conditions that arose after the balance sheet date.
Events that confirm a state at the balance sheet date include sales adjustments, court rulings on provisions, impairment discoveries, final purchase price determinations, post-balance sheet sales of assets at a loss, and error detections. If this information is received before the financial statements are prepared, it's included in the financial year ending on the balance sheet date. If received after preparation but before approval, material impacts require correcting the statements. Insignificant events or those approved are recorded in the period they are received.
Events indicating post-balance sheet conditions, such as changes in investment market value, dividend declarations, business combinations, significant asset changes, or major liabilities, require disclosure in the notes to the financial statements if they are material. The nature of the event and its estimated financial impact should be described. Insignificant events of this type are not disclosed.
Change of Job Position – When and What Tests Are Required?
3/19/2021
Initial medical examinations are mandatory for individuals hired for a new job and for employees who are transferred to positions with hazardous health factors or difficult working conditions. Employe
Initial medical examinations are mandatory for individuals hired for a new job and for employees who are transferred to positions with hazardous health factors or difficult working conditions. Employers are legally obligated to ensure that no employee begins work without a current medical certificate confirming their fitness for the specific role and its associated working conditions, as outlined in the referral for the examination.
A medical certificate is considered current if it reflects the employee's health status on the day they are to commence work in a given position under the specified conditions. Therefore, any change in job role necessitates an initial medical examination *before* the transfer. This obligation arises if the new position involves different hazardous or difficult factors, an increased exposure level to existing factors, or if the work method changes in a way that elevates occupational risks. Examples include operating new equipment, longer work hours, increased stress, radiation exposure, or chemical exposure. When a job change requires such an examination, the referral must detail all hazardous or difficult factors relevant to both the previous and the new role.
An exception exists where the hazards at the original and new positions are identical, and the only difference is in the scope of tasks. In such cases, repeat examinations are not required. Failure by employers to comply with these medical examination requirements constitutes a misdemeanor against employee rights and workplace safety, potentially resulting in fines ranging from 1,000 to 30,000 PLN, and even civil liability if an employee's health deteriorates due to such negligence. Importantly, during the COVID-19 pandemic, the obligation for initial medical examinations, including those related to job changes, remained in effect. In situations where direct access to an authorized physician was limited, other doctors could conduct examinations and issue certificates, potentially via telecommunication systems. Certificates issued under these exceptional circumstances expire 30 days after the epidemic threat status is lifted, unless an epidemic status is declared, or the epidemic is officially ended.
Financial Shield 1.0 – subsidy settlement and write-off
3/15/2021
The 12-month maintenance period for micro, small, and medium-sized enterprises (SMEs) that received anti-COVID support under the PFR Financial Shield 1.0 is ending. This program, launched on April 18,
The 12-month maintenance period for micro, small, and medium-sized enterprises (SMEs) that received anti-COVID support under the PFR Financial Shield 1.0 is ending. This program, launched on April 18, 2020, aimed to provide financial liquidity to businesses impacted by the pandemic.
For micro-enterprises (1-9 employees) experiencing a 25% revenue drop due to COVID-19 or facing operational bans, the subvention could be fully waived if they maintained their business activity until December 31, 2021, and preserved their average 2021 employment at the same level as in 2020. Failure to maintain employment levels would result in a partial repayment of the subvention, ranging from 0% to 50% depending on the employment reduction.
For SMEs (10-249 employees) in affected sectors with a minimum 30% revenue drop in Q4 2020 or Nov-Dec 2020 compared to 2019, the subvention was calculated as 70% of the gross loss. This subvention was conditionally repayable. It became non-refundable at 25% unconditionally and up to an additional 25% based on the company's sales loss over 12 months. Maintaining employment at or above 100% of the previous year's level meant an additional 0% repayment was due, while reductions resulted in proportional repayments. In exceptional cases, the Polish Development Fund could adjust waiver conditions for businesses with significant revenue drops.
Important! Financial Statements for 2020 - Deadline
3/5/2021
The Ministry of Finance has confirmed that the deadlines for preparing and approving financial statements for 2020 remain unchanged for entities required to maintain accounting records. An extension i
The Ministry of Finance has confirmed that the deadlines for preparing and approving financial statements for 2020 remain unchanged for entities required to maintain accounting records. An extension is being considered for non-profit organizations, though no specific decision date has been set. Accountants are urged to prepare for the March 31, 2021 deadline for submitting e-Financial Statements, which requires timely information gathering and signatures from all company representatives listed in the National Court Register.
Under current accounting laws, the management must ensure the annual financial statement is prepared within three months of the balance sheet date and submitted for approval. The statement must be signed by the person responsible for bookkeeping and the unit's management, or all members of a multi-person management body.
Furthermore, financial statements for 2020 should address the ongoing pandemic. The risk section should detail the impact of COVID-19 on the company's operations in 2020, as it is no longer a post-balance sheet event. This includes describing the level of impact (low, medium, high) on revenue, profit, and liquidity, as well as any aid received, its amounts, and its accounting treatment.
Financial Representative – No Obligation to Appoint
3/4/2021
On February 25, 2021, the Ministry of Finance, Funds, and Regional Policy in Poland published a regulation concerning the exemption from the obligation to appoint a tax representative. This regulation
On February 25, 2021, the Ministry of Finance, Funds, and Regional Policy in Poland published a regulation concerning the exemption from the obligation to appoint a tax representative. This regulation clarifies a crucial point: taxpayers whose place of business or permanent establishment is located in the United Kingdom (Great Britain and Northern Ireland) or Norway are no longer required to appoint a tax representative as stipulated in Article 18a of the Value Added Tax Act of March 11, 2004.
This exemption is due to the existence of administrative cooperation agreements, anti-fraud pacts, and debt recovery arrangements, or similar agreements, concluded with these countries regarding VAT. These provisions allow companies from the UK and Norway to conduct business in Poland under their existing operational frameworks. The regulation became effective on February 26, 2021, but its provisions are retroactive, applying from January 1, 2021. Consequently, entities from Great Britain, Northern Ireland, and Norway do not need to act through a tax representative when filing their January 2021 VAT returns. The legal basis for this is the Regulation of the Minister of Finance, Funds, and Regional Policy of February 23, 2021.
Key takeaways are related to Brexit and tax representation for VAT in Poland.
Incoterms Rules and VAT - Application in Accounting
2/25/2021
Incoterms are a set of rules created by the International Chamber of Commerce to regulate the terms of sale between buyers and sellers in international trade. They are updated every 10 years, with Inc
Incoterms are a set of rules created by the International Chamber of Commerce to regulate the terms of sale between buyers and sellers in international trade. They are updated every 10 years, with Incoterms 2020 being the current version. There are 11 rules divided into four groups (C, D, E, F), each defining responsibilities for transport organization, cost sharing, risk transfer, and customs clearance.
Group C rules require the seller to organize and pay for transport, with risk transferring upon shipment. Group D rules obligate the seller to deliver goods to a specified destination. Group E, comprising only EXW, places the minimal responsibility on the seller to make goods available at their premises. Group F rules mean the seller handles export clearance but not transport or insurance costs.
In accounting, Incoterms are crucial for determining the timing of delivery and, consequently, the point at which a VAT liability arises. For rules like CPT/CIP and FCA, delivery, and thus VAT obligation, occurs when goods are loaded onto the transport. Under DAP, delivery is when goods reach the agreed destination. For EXW, delivery happens when the seller makes goods available to the buyer at the seller's location. Understanding Incoterms is essential for accurate VAT calculations, invoice issuance, and overall financial reporting.
Tax Strategy – 2021 Challenge, or the Obligation to Inform
2/24/2021
The primary goal of these legislative changes is to enhance tax transparency for significant players in the Polish market, particularly those with high revenues. Specifically, certain taxpayers are no
The primary goal of these legislative changes is to enhance tax transparency for significant players in the Polish market, particularly those with high revenues. Specifically, certain taxpayers are now obligated to prepare and publish information on their tax strategy, detailing their business operations and tax liabilities. This move aims to increase transparency in the tax settlements of major corporate income taxpayers.
The obligation to report on tax strategy applies to capital groups and other taxpayers whose annual revenue exceeds the equivalent of 50 million euros, converted to PLN based on the National Bank of Poland's average euro exchange rate from the last business day of the year preceding public disclosure.
Taxpayers must prepare this information in Polish and publish it on their own website or a related entity's website by the end of the twelfth month following the tax year's end. The scope of information includes details on tax compliance processes, cooperation with tax authorities, tax obligations in Poland (including reporting on tax schemes), related-party transactions exceeding 5% of total assets, restructuring plans affecting tax liabilities, and applications for tax rulings. This list is not exhaustive. Failure to comply can result in a fine of up to PLN 250,000. Businesses must also notify the relevant tax office of the website address where this information is published. A key challenge will be distinguishing between confidential business data and information required for public disclosure.
The COVID-19 pandemic has significantly impacted accounting practices, particularly for the 2020 financial statements. The Accounting Standards Committee (KSR) has issued recommendations to address th
The COVID-19 pandemic has significantly impacted accounting practices, particularly for the 2020 financial statements. The Accounting Standards Committee (KSR) has issued recommendations to address the complexities of accounting for financial support received due to COVID-19, often referred to as the "Anti-Crisis Shield." These recommendations categorize support based on its economic substance, providing guidance on recognition, presentation, and disclosure.
Key forms of support include non-repayable cash subsidies, which are recognized as other operating income upon receipt. Forgiveness or reduction of public liabilities increases other operating income. Loan repayment deferrals or extended credit lines necessitate a re-evaluation of liabilities at their settlement amount or amortized cost. Preferential loans are recorded as liabilities and, if forgiven, the forgiven portion becomes other operating income. Financial subsidies from the PFR are recognized as liabilities, with forgiven portions treated as other operating income.
In presentation, most of this support, including forgiven amounts, is reported as other operating income and linked to the relevant balance sheet item. Specific presentation requirements vary based on the financial statement annex used. Disclosures are crucial if the support significantly impacts the entity's assessment, detailing the nature and amounts of aid received within the "Additional information and explanations" section. This ensures transparency regarding the financial impact of pandemic-related support measures.
According to the statutory schedule for the implementation of Employee Capital Plans (PPK), April 23, 2021, is the deadline for concluding a PPK management agreement.
PPK for Small Employers in April
According to the statutory schedule for the implementation of Employee Capital Plans (PPK), April 23, 2021, is the deadline for concluding a PPK management agreement. Subsequently, by May 10, 2021, you must sign PPK account agreements on behalf of your employees.
Your primary responsibilities include: conducting an informational campaign for employees about their rights and obligations regarding PPK; in consultation with employee representatives, selecting a financial institution from the Polish Development Fund's approved list; signing the PPK management agreement and then the PPK account agreements; and preparing staff to handle PPK participants, including timely contribution remittances, documentation, and reporting to the financial institution and participants.
Outsourcing HR and payroll to an accounting firm simplifies managing these areas. While accounting firms typically handle payroll, employee documentation, and tax/ZUS contributions, their involvement in PPK beyond calculating contributions depends on the specific agreement. Clearly defining the PPK service process and responsibilities between the employer and the accounting firm ensures correct operation and compliance, providing the employer with legal certainty.
For more on PPK contributions, refer to the article: "PPK Contributions – How Much, Who, When, and Under What Rules?"
Contact oksana.nakonieczna@moorepolska.pl for more information.
From December 1, 2020, provisions came into effect introducing financial sanctions for employers who commit offenses such as illegally employing (black market employment) an alim
FINANCIAL SANCTIONS:
From December 1, 2020, provisions came into effect introducing financial sanctions for employers who commit offenses such as illegally employing (black market employment) an alimony debtor who is in arrears with their payments for a period longer than 3 months, or paying such a debtor a salary higher than stipulated in the contract (so-called "under the table" payments) without making alimony deductions.
These offenses are punishable by a fine ranging from PLN 1,500 to PLN 45,000!
The provisions of Art. 281 § 1 point 2 and Art. 282 § 3 of the Labour Code, as well as Art. 10 of the amending act / Journal of Laws 2018, item 2432 / do not make the employer's liability dependent on their knowledge of the employee's alimony arrears.
HOW TO DO IT?
An employer has no legal basis to request an employee to submit a declaration of no alimony arrears. One method is to gain insight into the employee's last employment certificate, where a record of a bailiff's seizure should be indicated. Another method, foreseen by the legislator, is access to the National Register of Debtors / Journal of Laws of 2019, item 55 /.
RISK FOR EMPLOYERS:
The issue in the latter case is that due to the act amending certain acts to counteract the socio-economic effects of Covid-19 / Journal of Laws of 2020, item 1747 /, the effective date of the National Register of Debtors Act was postponed to July 1, 2021.
This means that until July 1, 2021, employers bear the risk of being fined even without their knowledge of the employee's alimony debts, if the employee does not voluntarily share this information or if the employer does not receive a bailiff's seizure notice.
alimony, debtor, National Register of Debtors, illegal employment, black market employment, risk, under the table salary
We invite you to contact us
oksana.nakonieczna@moorepolska.pl
New financial sanctions effective December 1, 2020, impose penalties on employers for illegally employing individuals with overdue alimony payments or for making "under the table" salary payments without proper deductions. Employers can face fines from PLN 1,500 to PLN 45,000, regardless of their knowledge of the employee's alimony arrears. To verify an employee's status, employers can review employment certificates for bailiff seizure notices. The National Register of Debtors was intended as another resource, but its implementation was delayed until July 1, 2021. Consequently, before this date, employers risked penalties if they were unaware of an employee's alimony debts and the employee did not disclose them, or if no bailiff seizure notice was received.
A law enacted on January 25, 2021, amending legislation on special measures to prevent, counteract, and combat COVID-19, other infectious diseases, and crises caused by them, granted additional entitl
A law enacted on January 25, 2021, amending legislation on special measures to prevent, counteract, and combat COVID-19, other infectious diseases, and crises caused by them, granted additional entitlements to, among others, honorary blood donors.
Under this law, during a state of epidemic threat or epidemic, honorary blood donors who have donated blood or its components are entitled to:
Two days of leave from work or official duties – on the day of donation and the following day. A 33% discount on domestic public transport. This applies to individuals who have donated at least three times, including plasma after COVID-19.
These entitlements are valid for six months from the date of issue of a certificate by the Blood Donation and Treatment Center.
The National Blood Centre has interpreted these provisions to mean that the entitlements are not limited solely to honorary blood donors who have recovered from COVID-19, but are available to all honorary blood donors who meet the specified conditions.
Compensation for this leave is calculated on the same basis as for standard blood donations.
The year 2021 brought significant tax law changes, introducing new financial burdens and extensive formal obligations for taxpayers. To comply, businesses must develop procedures to avoid penalties, t
The year 2021 brought significant tax law changes, introducing new financial burdens and extensive formal obligations for taxpayers. To comply, businesses must develop procedures to avoid penalties, thereby increasing the risks associated with economic activity.
Key changes impacting entrepreneurs include the requirement to disclose tax strategy. Companies, including capital groups and those exceeding 50 million euros in revenue, must prepare and publish their tax strategies by the end of the twelfth month following the tax year. This includes providing specific information, with the exception of trade secrets. Failure to comply can result in fines of up to 250,000 PLN.
Another significant change is the restriction on utilizing prior year losses after restructuring if the business's core activity changes or if a new entity acquires a significant stake. This aims to prevent the misuse of tax benefits but may hinder economically motivated restructurings.
Transfer pricing documentation now has lower thresholds for transactions with entities in countries with harmful tax competition, requiring documentation for both revenue and cost transactions exceeding 100,000 PLN. Entities must also investigate the beneficial owner's status for compliance.
New regulations define "real estate companies," imposing obligations such as withholding tax on the sale of shares if the seller is non-resident and holds at least 5% of the voting rights. Real estate companies may also need to report their shareholders to tax authorities. These changes necessitate careful financial and tax analysis by businesses.
For your convenience, we have also prepared the above summary in PDF format:
Polish version English version
2021, Brexit, CIT, Estonian CIT, taxation of limited partnerships, sugar tax, taxes, limit
For your convenience, we have also prepared the above summary in PDF format:
Polish version English version
2021, Brexit, CIT, Estonian CIT, taxation of limited partnerships, sugar tax, taxes, limited partnerships, Tax Free, VAT, tax changes
Contact us
piotr.witek@moorepolska.pl
This content highlights a summary of tax-related information, with options to view it in Polish or English via PDF. The provided keywords indicate a focus on the year 2021 and key tax topics such as Brexit implications, Corporate Income Tax (CIT), the specific regime of Estonian CIT, the taxation of limited partnerships, a sugar tax, general tax matters, the concept of Tax Free, Value Added Tax (VAT), and broader tax changes. The contact information for Piotr Witek at Moore Polska is also included, suggesting this is a professional advisory or informational piece. It appears to be a resource for businesses and individuals seeking to understand current tax regulations and their impact.
Calculation of contributions from mandate contracts – exemption from obligation
1/27/2021
The new version of Tarcza 6.0 exempts individuals performing civil law contracts (agency, mandate, or service agreements) from calculating, deducting from income, and paying ZUS contributions.
To qua
The new version of Tarcza 6.0 exempts individuals performing civil law contracts (agency, mandate, or service agreements) from calculating, deducting from income, and paying ZUS contributions.
To qualify for this exemption, the mandate contract must be concluded between January 1, 2021, and March 31, 2021. The total income earned from all mandate contracts in the month preceding the application submission must not exceed 100% of the average monthly remuneration from the previous quarter. Additionally, the contractor must not be subject to social insurance from any other source besides these mandate contracts.
This exemption applies to contractors involved in creative activities such as fine arts, literature, music, audiovisual works, theater, and performing arts, as well as technical support for audiovisual production and artistic event organization. It also covers services in architecture, interior design, landscape architecture, and services provided to museums, including non-school educational forms and museum guides.
The exemption covers each mandate contract, up to the maximum contribution base (100% of average monthly remuneration), for each month from January to April 2021, provided the contract was performed for at least one day. Applications for exemption (RZN) can be submitted electronically via PUE ZUS from January 1, 2021, within 7 days of contract conclusion.
Employers must submit zero monthly reports for exempted periods. If only a portion of income is exempted, contributions must be calculated and paid on the remaining amount. Even with the exemption, health insurance rights are maintained. ZUS reserves the right to verify application data; discrepancies leading to misrepresentation will require the employer to pay overdue contributions within 30 days.
National Accounting Standard No. 7 defines errors made in previous financial years as omissions or irregularities in financial statements that cause significan
**What is the definition of an error?**
National Accounting Standard No. 7 defines errors made in previous financial years as omissions or irregularities in financial statements that cause significant distortions, rendering them unreliable. These errors stem from failure to consider or incorrect consideration of information available at the time of preparation, or information that could reasonably be expected to be obtained. Sources include arithmetic mistakes, oversights, misinterpretations, or fraud. Only material errors, which can influence economic decisions of users individually or collectively, are of concern. Materiality considers the magnitude, nature of omission, and surrounding circumstances.
**What is not a correction of an error?**
Accounting standards dictate that all detected errors are subject to correction. However, changes in estimates (e.g., provisions, depreciation rates, asset impairment), effects of changes in accounting policies due to new regulations or entity initiative, and consequences of events unknown despite due diligence are not considered errors.
**Correcting errors – recording and disclosure in statements**
Errors in the current financial year detected before the annual financial statement are corrected within that year. If detected after preparation but before approval, materiality determines the correction. Immaterial errors are adjusted in the next financial year. Material errors require correction in the year the statement was prepared, necessitating a revised financial statement.
Correcting prior-year errors in approved financial statements is more complex. Immaterial errors adjust net profit/loss or equity for the current or unapproved prior year. Material errors involve:
* Recognition in equity as prior-period adjustments. * Inclusion in the statement of changes in equity. * Retrospective restatement of data, if feasible.
Additionally, material prior-year errors require disclosure of the error type, its impact on revenue and costs, and the correction amount for the current and prior periods.
How to Minimize the Risk of Harm While Conducting Business in Uncertain Times?
1/19/2021
Every entrepreneur, whether operating individually or as a commercial company, must constantly attend to numerous aspects of their daily operations. In times of haste, uncertainty, and stress, mistake
Every entrepreneur, whether operating individually or as a commercial company, must constantly attend to numerous aspects of their daily operations. In times of haste, uncertainty, and stress, mistakes and omissions are more likely, increasing the risk of damages and claims. Entrepreneurs wishing to transfer some business-related risks to an insurer and insure their property must first thoroughly assess potential risks, check their security measures, and estimate potential damages.
An insurance audit objectively evaluates the quality of insurance protection resulting from existing insurance contracts. Typically conducted by an insurance broker, it involves a detailed identification of risks associated with the entrepreneur's business and property, both external and internal. The broker analyzes client documents, procedures, certificates, previous claims data, and, if necessary, engages experts. The audit identifies business and environmental risks, inspects facilities, analyzes insurance needs, and reviews existing contracts for legal and economic effectiveness, providing conclusions and recommendations. For large assets, a risk assessment engineer verifies facility condition, machinery, security systems, fire and theft protection, and storage practices. Thermal imaging audits may be used to identify fire risks. The broker then meticulously reviews existing policies, checking coverage scope, insured sums, deductibles, compensation methods, and exclusions. The client receives a personalized report with conclusions on their current insurance protection level relative to identified risks and recommendations for improvement and enhanced coverage in new contracts.
An insurance audit is generally the first step in broker-client collaboration. Minor suggestions, such as switching from named perils to all-risk coverage or expanding liability insurance, can significantly improve a business's security. Realized hypothetical loss scenarios have demonstrated the value of adhering to broker recommendations, leading to clients being protected by updated insurance policies and fostering long-term relationships.
The project outlines key information regarding Estonian CIT regulations, specifically focusing on the lump-sum tax rate. The tax rate is determined by several factors: the taxpayer's revenue level (sm
The project outlines key information regarding Estonian CIT regulations, specifically focusing on the lump-sum tax rate. The tax rate is determined by several factors: the taxpayer's revenue level (small taxpayer status or average revenue not exceeding the small taxpayer threshold), the basis of taxation (net profit or other income), and the level of investment expenditures.
For small taxpayers and those with average revenues below the small taxpayer limit, the tax rate is 15% of the tax base. All other taxpayers face a 25% rate. Furthermore, the project details a reduced tax rate for companies that opt out of the Estonian CIT system. If a company leaves the system and is taxed on net profit, the rate can be reduced by five percentage points for that specific profit, provided that investment expenditures meet certain thresholds. These thresholds are 50% over a two-year period or 110% over a four-year period, as defined by specific articles of the CIT Act. This reduced rate does not apply to income other than net profit. The regulations also stipulate that to maintain eligibility for the reduced rate after multiple four-year periods, taxpayers must continue to meet the increased investment expenditure requirements. Examples are provided within the project to aid understanding, and the final version of the explanations is awaited.
The project provides comprehensive details on the Estonian CIT, specifically addressing the applicable lump-sum tax rates. It clarifies that the tax rate is contingent upon the taxpayer's revenue size, qualifying them as a small taxpayer or having average revenues below a defined threshold. The nature of the taxable income (net profit versus other income) and the extent of investment expenditures also influence the rate.
Specifically, small taxpayers and those within the average revenue threshold are subject to a 15% tax on their base. Other taxpayers are subject to a 25% rate. The project also introduces a potential reduction in the tax rate for companies that transition away from the Estonian CIT regime. If such companies are taxed on net profit, the rate can be lowered by five percentage points if they fulfill specific investment expenditure requirements over either two-year or four-year periods. This reduced rate is exclusively for net profit income. The regulations require sustained investment efforts to retain the benefit of the reduced rate over extended periods. The project includes illustrative examples to facilitate correct application of these rules.
Sugar tax from January 1, 2021 - what has changed?
1/7/2021
The Sugar Tax, effective January 1, 2021, is a levy on beverages containing added sweeteners, caffeine, or taurine. Originally planned for July 2020, its implementation was postponed due to COVID-19.
The Sugar Tax, effective January 1, 2021, is a levy on beverages containing added sweeteners, caffeine, or taurine. Originally planned for July 2020, its implementation was postponed due to COVID-19. The tax applies to beverages introduced into the domestic market that contain sugars (monosaccharides or disaccharides), sweeteners, caffeine, or taurine, commonly found in energy drinks.
However, seven categories of products are exempt. These include medicinal products, dietary supplements, special medical purpose foods, infant formulas, alcoholic beverages, beverages with at least 20% fruit/vegetable juice and a sugar content of 5g or less per 100ml, isotonic drinks with 5g or less of sugar per 100ml, and milk-based products like yogurts and kefirs.
The tax rate varies: 0.50 PLN per liter for drinks with 5g or less of sugar per 100ml or those containing sweeteners, and an additional 0.05 PLN for every gram of sugar exceeding 5g per 100ml. Beverages with caffeine or taurine incur an extra 0.10 PLN per liter. If multiple components are present, the charges sum up, capped at 1.20 PLN per liter. This tax is payable by entities selling or retailing these beverages, including manufacturers, importers, and those involved in intra-Community acquisitions. Obligated parties must electronically report detailed information to the tax office.
What is and how does a "Balance Confirmation" work?
12/28/2020
This document explains the concept and process of a "saldo confirmation" (potwierdzenie salda) in business accounting. It is a mutual confirmation between businesses that their records of completeness
This document explains the concept and process of a "saldo confirmation" (potwierdzenie salda) in business accounting. It is a mutual confirmation between businesses that their records of completeness, payments, and outstanding balances align. For example, if Company A records a debt owed by Company B of 1,000 PLN, Company A sends a saldo confirmation to Company B. Company B then checks its books and, if the amount and reason match, signs and returns the confirmation. If there's a discrepancy, Company B indicates its recorded amount and reasons, prompting further reconciliation before financial statements are finalized.
Accounting departments typically prepare these confirmations, but unit managers are ultimately responsible for ensuring they are sent annually, as mandated by the Accounting Act. The law requires confirmations for all receivables, allowing both paper and electronic formats, with proof of dispatch and receipt being crucial. These confirmations must be sent no earlier than two months before the financial year-end and require explicit confirmation, not implied acceptance. Exceptions include disputed debts, public law receivables, and receivables from individuals or businesses not keeping accounting records.
Regular saldo confirmations offer benefits beyond legal compliance. They help identify and resolve discrepancies, potentially leading to timely invoice payments and a reduction in outstanding receivables. They also aid in identifying and correcting errors or missing documents, ensuring the accuracy and completeness of financial records before year-end reporting. The legal basis for this process is found in specific articles of the Accounting Act.
This document outlines the purpose and legal requirements of saldo confirmations for businesses. It serves as a mutual verification tool between companies to ensure their accounting records for receivables and payables are accurate and complete. The process involves sending confirmations of outstanding balances, typically for receivables, to counterparties. The counterparties are expected to review these confirmations and respond, either confirming the balance or highlighting any discrepancies. This reconciliation is crucial for maintaining accurate financial statements.
The Accounting Act mandates this practice, specifying that confirmations should be sent within a certain timeframe before the year-end and requiring explicit confirmation rather than assumed agreement. Certain types of receivables are exempt from this process. The benefits of regular saldo confirmations extend beyond legal compliance, aiding in the identification of payment issues, facilitating the correction of accounting errors, and ultimately improving the reliability of financial reporting.
On December 16, 2020, the Senate passed a bill amending the VAT Act, introducing a package of simplifications for VAT settlements, known as SLIM VAT. These changes, effective from January 1, 2021, sig
On December 16, 2020, the Senate passed a bill amending the VAT Act, introducing a package of simplifications for VAT settlements, known as SLIM VAT. These changes, effective from January 1, 2021, significantly alter the rules for correcting VAT invoices.
Previously, "in-minus" correction invoices (reducing taxable base) were generally recognized in the period the seller received confirmation of the buyer's receipt. If confirmation was received before the VAT declaration deadline, the reduction could be applied in the period the correction was initially recorded. However, the confirmation method was left to the buyer's discretion. The new rules allow sellers to reduce the taxable base in the period the correction is issued, provided they have documentation proving the reduction was agreed upon with the buyer. Without such documentation, the correction is recorded when it's obtained.
"In-plus" correction invoices (increasing taxable base), previously based on interpretations and case law, will now be directly regulated. If the correction rectifies an error made on the original invoice that led to an underestimation of tax, it will be settled in the same period as the original invoice. For corrections due to circumstances arising after the initial sale, the invoice will be recorded on its issuance date.
Another key simplification allows taxpayers to choose the same exchange rate for VAT settlements as used for income tax revenue reporting, simplifying currency conversions. This choice, however, requires consistent application for at least 12 months. Standard VAT conversion rules apply to transactions not aligned with income tax revenue recognition principles.
As of January 1, 2021, the "relief for young people" (tax exemption) in Poland has been expanded to include income from traineeships and graduate apprenticeships. Previously, individuals under 26 year
As of January 1, 2021, the "relief for young people" (tax exemption) in Poland has been expanded to include income from traineeships and graduate apprenticeships. Previously, individuals under 26 years old were exempt from personal income tax on earnings from employment relationships, commissioned labor contracts (umowy zlecenia), and similar forms of work. This exemption now covers income earned from graduate apprenticeships and student traineeships.
The tax exemption applies to income earned by individuals up to the age of 26, up to an annual limit of 85,528 PLN (the first tax bracket). Since 2020, individuals do not need to submit a declaration to utilize this relief, unless their annual income is expected to exceed the exemption limit. The scope of income covered by this relief is clearly defined, encompassing various forms of remuneration for employment and specific types of commissioned labor contracts. However, income from other sources, such as contracts for specific works (umowy o dzieło), certain types of foreign income, royalty income, social security benefits, and unemployment benefits, are not covered by this exemption. Proper calculation of income costs is essential for those benefiting from the relief, especially if their income exceeds the annual threshold.
PPK covers all employees under an employment contract, homeworkers, contractors, members of agricultural production cooperatives or agricultural circle cooperatives, and r
Who will be covered by PPK?
PPK covers all employees under an employment contract, homeworkers, contractors, members of agricultural production cooperatives or agricultural circle cooperatives, and remunerated supervisory board members. The condition is the payment of retirement and disability contributions from these remunerations.
Who can join PPK?
Joining PPK is voluntary. The only limitations are the period of employment (minimum 90 days) and age. Employees aged 18-55 are automatically enrolled in the program, with the option to resign. Individuals over 55 but under 70 can declare their voluntary participation. The regulations do not provide for participation for individuals over 70 years of age.
Financial institution managing and operating PPK – which one to choose?
The Polish Development Fund has listed only 20 clearly specified entities capable of offering management of funds accumulated within PPK.
The choice of a financial institution depends on many factors. Among the most important are: capital management experience, long-term operation in the financial market, and institutional credibility.
PPK contribution – from whom and how much?
An employee's contribution is 2% of their gross salary, which can be extended with additional voluntary contributions up to a maximum of 2%.
An employer's contribution is 1.5% of the employee's gross salary, which the employer can also extend with additional contributions up to a maximum of 2.5%.
The state will make a one-time welcome contribution of PLN 250 and will contribute PLN 240 annually.
Contribution calculation – where to start?
Small and medium-sized enterprises are often unaware that in addition to implementing PPK, they will be managing capital plans for a longer period. This includes: contribution calculation, handling employee declarations, including those for additional contributions, and accounting for new employees and their employment periods.
The second aspect involves recording these changes in the HR and payroll system, and then in the system provided by the financial institution. These activities will be performed monthly for many years.
Without a PPK support application, the employer must transfer all these tasks to their HR department employees, who must be paid for the time they will need to dedicate to performing additional tasks manually, without application assistance.
Cooperation with an accounting office – why?
Outsourcing the HR and payroll department to an accounting office is a significant simplification for employers in managing this part of their business. However, it should be remembered that accounting offices typically offer salary calculation, preparation and maintenance of employee documentation, and calculation of income tax advances and ZUS contributions.
What about PPK? They will also calculate PPK contributions, but whether they relieve the employer of other PPK obligations depends on the contract concluded between the employer and the accounting office.
Clearly defining the entire PPK servicing process, with a division and distinction of responsibilities between the contracting parties related to the PPK program, allows for the determination of accountability for actions, both on the part of the accounting office and the employer.
Such an agreement allows for clarifying cooperation principles, proper PPK management and administration, while giving the employer confidence that all legal requirements applicable to them will be met.
A reputable accounting office guarantees the provision of services: with the utmost care, timely, taking into account the professional nature of its business, in accordance with applicable law and professional ethics, by individuals with appropriate qualifications and authorizations.
Employee Capital Plans (PPK) are a savings program in Poland designed to encourage long-term retirement savings. It covers most employees working under various contract types, provided their earnings are subject to retirement and disability contributions. Participation is generally automatic for employees aged 18-55, who can opt out. Individuals over 55 but under 70 can join voluntarily, while those over 70 are excluded. Employers must choose a financial institution from an approved list, considering factors like experience and credibility. Contributions are shared, with employees contributing 2% (optional additional 2%) and employers contributing 1.5% (optional additional 2.5%) of gross salary. The state provides a one-time "welcome" payment and annual contributions. Managing PPK involves ongoing tasks like contribution calculation and record-keeping, which can be outsourced to accounting firms to ensure compliance and efficiency. A clear agreement with the accounting office is crucial to define responsibilities for smooth PPK administration.
Internal Control – How to Build an Effective System?
12/21/2020
Effective internal control is crucial for a company's competitiveness, enabling it to manage business and fraud risks efficiently. Every business decision carries inherent risk, and effective internal
Effective internal control is crucial for a company's competitiveness, enabling it to manage business and fraud risks efficiently. Every business decision carries inherent risk, and effective internal control minimizes the likelihood of unachieved objectives. Risk management, encompassing identification, assessment, and counteraction, is integral to business management through internal controls. The stronger the internal control, the lower the risk and the higher the chance of goal achievement, leading to a more efficient, profitable, and secure company.
While some companies have dedicated risk management or internal audit functions, many in Poland find establishing these internally costly. Consequently, external services are a viable solution. Firms like Grupa Rewit offer support in building and improving internal control systems, conducting oversight and operational controls, managing risks, performing internal audits, verifying compliance, ensuring security, and identifying/counteracting fraud. These tailored services involve independent assessment of a company's management and controls, evaluating risk awareness and appetite. The process includes reviewing regulations, control scope, employee interviews, and IT system control assessments. The diagnostic results provide a roadmap for improving controls in high-risk areas, either independently or with expert assistance.
The basis for calculating sickness and maternity benefits is generally the average monthly salary over the preceding 12 months, after deducting employee-paid social security contributions. However, th
The basis for calculating sickness and maternity benefits is generally the average monthly salary over the preceding 12 months, after deducting employee-paid social security contributions. However, this basis cannot be lower than the minimum wage minus 13.71% of that wage. For part-time workers, these amounts are proportionally reduced.
Maternity benefit amounts vary: 100% of the calculation basis for the initial maternity leave, adoption leave, and paternity leave periods, as well as up to 6.8 or 3 weeks of parental leave. The remaining parental leave is compensated at 60%. Alternatively, 80% of the calculation basis can be received for the entire duration of maternity, adoption, and parental leave if applied for on time. The daily rate for all these leaves is 1/30th of the calculation basis.
A maternity benefit "top-up" is available if the monthly benefit, after income tax withholding, falls below the parental benefit of 1,000 PLN. This top-up increases the maternity benefit to 1,000 PLN.
The annual increase in the minimum wage raises the guaranteed minimum benefit basis. However, the 1,000 PLN parental benefit has remained unchanged since 2016. This disparity means fewer full-time employees are eligible for the maternity benefit top-up. Part-time employees may still qualify for the top-up in certain months, depending on the number of calendar days.
Is remorse necessary when filing a correction of JPK_V7?
12/16/2020
While we have become accustomed to the changes in VAT reporting that came into effect on October 1, 2020, it's important to remember that not only the JPK file structure changed, but also the procedur
While we have become accustomed to the changes in VAT reporting that came into effect on October 1, 2020, it's important to remember that not only the JPK file structure changed, but also the procedure for submitting corrections. Previously, submitting a corrected JPK_VAT file to the Ministry of Finance did not require an active repentance – as, according to tax authorities and the National Tax Information, this file was solely tax information.
The new regulations mean the JPK_V7 file consists of two parts: the declarative and the evidentiary. This implies that any corrections to the file can relate to:
* Exclusively the declarative part. * Exclusively the evidentiary part. * Both the declarative and evidentiary parts simultaneously.
While Article 16a of the Fiscal Penal Code (KKS) remains unchanged – stating that a taxpayer is not subject to sanctions if they submit a corrected tax declaration (i.e., the declarative part) and settle any tax underpayment with interest – a new provision, Article 61a, has been added. This article addresses the violation of the obligation to submit books to the proper tax authority.
The new regulation is significant because the evidentiary part of the JPK-V7 file is treated as a "book" as referred to in Article 53(21) of the KKS. This means that any correction to the evidentiary part of the JPK_V7 file will necessitate submitting an active repentance to the tax office. According to the Ministry of Finance, this constitutes a cumulative concurrence of provisions (Art. 7 KKS), where the same act fulfills the conditions of two provisions: Art. 56 (providing incorrect data in a declaration) and Art. 61a (submitting unreliable books or records). Failure to apply the active repentance institution when correcting the evidentiary part, or both the evidentiary and declarative parts together, can expose taxpayers to severe financial penalties.
To protect against sanctions, taxpayers can use the "active repentance" institution under Article 16 KKS. This involves notifying the tax authority of a committed offense and describing all relevant circumstances. Active repentance can be submitted orally, in writing, or electronically via the e-PUAP platform, which was recently introduced as a convenience. Key elements of an active repentance include taxpayer identification, recipient, circumstances of the offense, co-perpetrators, and confirmation of remediation. It's crucial that active repentance is submitted before the tax authority is aware of the offense.
Depreciation of passenger cars – draft changes to regulations
12/15/2020
Proposed changes to Polish law aim to promote electromobility by altering vehicle depreciation rules. Electric and hydrogen-powered vehicles will retain a higher depreciation limit of PLN 225,000 for
Proposed changes to Polish law aim to promote electromobility by altering vehicle depreciation rules. Electric and hydrogen-powered vehicles will retain a higher depreciation limit of PLN 225,000 for tax purposes. However, owners of other passenger cars, including hybrids, will face a reduced depreciation limit of PLN 100,000, down from the current PLN 150,000. This change, set to take effect from January 1, 2026, applies to both corporate (CIT) and personal (PIT) income tax payers. The legislation seeks to incentivize the adoption of low-emission vehicles.
A significant concern is the lack of transitional provisions for vehicles put into use before the new rules come into effect. This absence creates uncertainty regarding how to handle depreciation for cars exceeding the new PLN 100,000 limit but falling below the previous PLN 150,000 threshold, especially if their amortization period extends beyond January 1, 2026. This ambiguity may necessitate proportional application of the new limits, potentially impacting how these costs are recognized for tax purposes. The proposed changes are currently under review.
As announced by the government, a new anti-crisis shield, the so-called PFR Shield 2.0, is scheduled to launch in January 2021. The Polish Development Fund (PFR) has presented the preliminary assumpti
As announced by the government, a new anti-crisis shield, the so-called PFR Shield 2.0, is scheduled to launch in January 2021. The Polish Development Fund (PFR) has presented the preliminary assumptions of the Financial Shield 2.0 program. PFR President Paweł Borys emphasizes that the goal of Financial Shield 2.0 is to "safely guide these sectors most affected by the pandemic to the moment when we are at an advanced stage of vaccination and the economy can also function normally, including in these service sectors."
The PFR Shield 2.0 will encompass:
For companies employing 1-9 workers from 38 PKD sectors with 2019 turnover or balance sheet total less than or equal to EUR 2 million. Subsidies will be up to PLN 324,000, dependent on employee count and turnover decrease, for businesses experiencing at least a 30% turnover drop due to COVID-19. Funds are non-repayable provided the business operates and maintains employment for 12 months.
For companies employing up to 249 workers from 38 PKD sectors with 2019 turnover less than or equal to EUR 50 million and balance sheet total less than EUR 43 million. Subsidies are up to PLN 3.5 million, based on cost and revenue forecasts and gross loss. Businesses must have at least a 30% turnover drop due to COVID-19. Funds are non-repayable under conditions of continued operation and subsidy settlement covering 70% of gross loss. Companies dependent on local government units can access Shield 2.0 under simplified SME rules.
For companies employing 250+ workers with turnover exceeding EUR 50 million, PFR financing will be based on individual financial analysis, including liquidity financing, preferential loans, and capital instruments. Existing programs will be updated, and a new version of preferential loans will be introduced with an extended COVID damage period until March 31, 2021.
HR obligations begin with the first employee. Regardless of company size, documentation requirements are similar. Employers have numerous legal duties, and support from an HR specialist is beneficial.
HR obligations begin with the first employee. Regardless of company size, documentation requirements are similar. Employers have numerous legal duties, and support from an HR specialist is beneficial. HR professionals humanize documentation and records, assist employees with applications for benefits (e.g., ZUS), and manage leave entitlements. HR tasks intertwine with payroll and OHS (Occupational Health and Safety) responsibilities, with HR involvement starting before formal employment.
Before starting work, employees must have a medical certificate confirming fitness for duty. Employers can issue referrals for initial medical examinations or accept a previous, valid certificate if working conditions and hazards remain the same. Crucially, medical certificates are only valid if issued by a doctor with whom the employer has a signed contract, as stipulated by the law on occupational medicine services. Employers must also track the expiry dates of medical certificates and any changes in workplace hazards.
OHS compliance is also essential. Employees must be briefed on safety and hygiene procedures through initial training, documented by an "Initial Training Card in Occupational Health and Safety." This includes general and job-specific instruction. Employers should conduct job-specific training upon any role change, monitor periodic OHS training dates, and maintain occupational risk assessments and job descriptions, updating them for evolving conditions. Documentation for the lifespan of personal protective equipment (PPE) and laundry allowances is also necessary if work clothing and safety gear are required.
All these documents must be properly recorded and stored, becoming part of the employee's personal file. These files are dynamic, reflecting the ongoing employment relationship, duties, and employee life changes. Employee working time must be meticulously recorded, including start and end times. Leave-related documentation, such as requests, cancellations, and confirmations, also needs to be maintained. Employers must monitor ZUS PUE for medical certificates and quarantine information. Records of paid wages and benefits, as well as employee requests for direct payment, are mandatory. Additionally, records of work clothing and PPE allocation, along with documentation for allowances for using and maintaining personal items, are required. Employees must be provided with equal treatment regulations, like extracts from the Labor Code, and informed about data processing policies (RODO). Companies with over 50 employees must have work regulations and remuneration regulations, potentially including bonus schemes, and increasingly, remote work regulations.
Summary: Navigating employment law and HR responsibilities is crucial for all businesses, starting from the first hire. These obligations encompass crucial areas like occupational medicine and safety (OHS), alongside meticulous record-keeping. Employers must ensure employees undergo necessary pre-employment medical examinations, ensuring these are conducted by contracted medical professionals and that certificates are current. OHS compliance involves comprehensive training, risk assessments, and managing safety equipment, all documented meticulously. Furthermore, maintaining accurate employee records is paramount. This includes personal files, working time records, leave applications, and payroll information. For larger companies, specific regulations regarding work and remuneration, and now remote work, must be established. Professional HR support can significantly ease the burden of these complex, evolving legal requirements, ensuring compliance and a supportive environment for employees.
Contracts for specific works – new reporting obligations from 01.01.2021
특정 업무 계약 관련 신규 신고 의무 (2021년 1월 1일부터 시행)
11/30/2020
What will change regarding contracts for specific works in 2021?
Previously, contracts for specific works (umowa o dzieło) concluded with individuals not employed by the company under an employment c
What will change regarding contracts for specific works in 2021?
Previously, contracts for specific works (umowa o dzieło) concluded with individuals not employed by the company under an employment contract were not reported to ZUS, and social and health insurance contributions were not paid. However, starting January 1, 2021, changes introduced by the Act of March 31, 2020, amending the "COVID-19 Act," come into effect. Under these new regulations, payers of contributions or individuals will be obligated to submit information to the Social Insurance Institution (ZUS) for every concluded contract for specific works. Exceptions to this rule apply if the contract is made with someone not in an employment relationship with the payer, or if the work under the contract is not performed for the employer with whom the individual has an employment relationship. Such reports must be submitted within 7 days of the contract's conclusion and will be recorded in the payer's account.
How to inform ZUS about a contract for specific works?
A new regulation is expected, which will likely introduce a new insurance document, ZUS RUD, for reporting these contracts to ZUS.
What is the purpose of these changes?
Officially, the changes are intended for analytical and statistical purposes, to streamline benefit payments under anti-crisis shields, and to enable ZUS to verify social insurance obligations for individuals performing work under such contracts. Unofficially, there is speculation about taxing all civil law contracts, including contracts for specific works, which could increase costs for many entrepreneurs.
How to prepare for the upcoming obligations?
It is advisable to anticipate ZUS inspections for payers who enter into contracts for specific works. Furthermore, it is crucial to verify the appropriateness of using contracts for specific works, ensuring their content and the tasks assigned align with the nature of such contracts. Businesses should be aware of the potential risk of reclassifying these as employment or service contracts, which could result in back payments of contributions and interest.
Polish Development Fund - does the company have to pay tax on PFR subsidies?
폴란드 개발 기금(PFR) 보조금은 과세 대상인가요?
11/30/2020
Receipt and Repayment of Funds from PFR
Receiving funds from the Polish Development Fund (PFR) is tax-neutral for entrepreneurs. Taxpayers do not include the amount of received financing in their tax
Receipt and Repayment of Funds from PFR
Receiving funds from the Polish Development Fund (PFR) is tax-neutral for entrepreneurs. Taxpayers do not include the amount of received financing in their tax revenue. Entrepreneurs can allocate the entire received amount to cover business expenses. Consequently, the repayment of the loan will also be tax-neutral.
Costs Covered by PFR Funds
Expenses financed with funds granted by PFR are eligible for tax deductibility under general rules. If they meet the general conditions arising from tax laws, they can be recognized as revenue-generating costs. Importantly, future partial forgiveness of the loan will not affect this.
Partial Loan Forgiveness
The value of forgiven obligations from the obtained financing should be included in tax revenue. This is confirmed by initial tax interpretations.
Contrary to earlier announcements, the interpretation confirms that the subsidy should be treated entirely as a loan.
Director of KIS in the interpretation with ref. 0115–KDIT3.4011.434.2020.3.AWO
PFR, PFR loan
We invite you to contact us
emilia.adamiec-brancewicz@moorepolska.pl
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**Summary:**
Receiving funds from the Polish Development Fund (PFR) is tax-neutral, meaning it does not constitute taxable income for entrepreneurs. The entire amount can be used for business expenses, and its repayment is also tax-neutral. Crucially, expenses paid for with PFR funds are eligible for tax deductibility as usual, provided they meet general tax law criteria, irrespective of any future loan forgiveness. However, any portion of the PFR loan that is forgiven will be considered taxable revenue for the entrepreneur. This clarification, confirmed by tax interpretations, indicates that PFR subsidies should be treated as loans for tax purposes, contrary to some initial expectations. Entrepreneurs are encouraged to seek further guidance.
According to Article 5j of the Act of March 4, 1994, on the Company Social Benefits Fund (ZFŚS), budgetary units and local government budgetary establishments are obligated to create the fund regardle
According to Article 5j of the Act of March 4, 1994, on the Company Social Benefits Fund (ZFŚS), budgetary units and local government budgetary establishments are obligated to create the fund regardless of the number of employees as of January 1, 2021. For other employers, the obligation depends on the number of employees. Employers with at least 50 full-time employees as of January 1, 2021, or those with 20-49 employees if a trade union requests it, must create the fund. Employers with fewer than 50 employees can decide not to create the fund or pay holiday benefits.
The Act specifies contributions for employees working in normal and special conditions, as well as for young employees, based on the average monthly wage in the national economy in the second half of 2018, which was PLN 4,134.02. Contribution rates vary: approximately PLN 1,550.26 for normal conditions, PLN 2,067.01 for special conditions, and different amounts for young employees depending on the year of apprenticeship. Additional contributions exist for disabled employees, retirees under the employer's social care, and employers operating nurseries or children's clubs.
The granting of subsidized services and benefits depends on the individual's living, family, and financial situation. The employer determines the rules and conditions for using the fund's resources in a regulation. Employers obligated to create the fund can reduce the contribution with the agreement of trade unions or employee representatives. Decisions regarding the ZFŚS must be made by the end of January.
Companies employing fewer than 50 people can introduce holiday benefits, not exceeding PLN 1,550.26 in 2021, paid once a year to employees taking at least 14 consecutive days of vacation. These benefits differ from "vacation under the pear tree" benefits paid by companies with a ZFŚS and are not means-tested. Holiday benefits are exempt from social security contributions, unlike voluntary vacation bonuses.
The law specifies three inventory methods depending on the type of asset or liability being verified: physical count, balance confirmation, and comparing accounting data with do
**Inventory Methods**
The law specifies three inventory methods depending on the type of asset or liability being verified: physical count, balance confirmation, and comparing accounting data with documents.
* **Physical Count:** Used for cash, securities in physical form, tangible current assets, fixed assets, investment properties, and machinery/equipment under construction. * **Balance Confirmation:** Used for financial assets in bank accounts, dematerialized securities, receivables, loans, and assets entrusted to contractors. * **Document Comparison:** Used for fixed assets with restricted access, land, rights classified as real estate, disputed receivables, receivables/liabilities to non-accountants, and public law receivables/liabilities. This is also used when the law specifies an inventory method that is impossible or impractical to implement.
**Inventory Deadlines and Frequency**
Inventory deadlines are considered met if conducted within specified periods:
* Materials, goods, and finished products in guarded warehouses with quantity-value records: once every two years. * Real estate classified as fixed assets/investments, other fixed assets, and machinery/equipment under construction in guarded areas: once every four years. * Goods and materials in retail outlets with value records: once a year. * Timber in forestry units: once a year.
For materials, goods, and finished products expensed directly upon purchase or production, inventory must be conducted on the last day of each financial year. This also applies to cash, securities, and work-in-progress. Other assets, such as materials, goods and finished products, can be conducted in a three-month time before the end of financial year and up to 15th of the next year. The law also mandates that the head of the entity undergoing audit must allow the auditing firm to participate in the inventory of significant assets.
Correcting Invoices - No More Acknowledgements of Receipt!
11/24/2020
Taxpayers will be able to reduce their VAT base due to discounts, price reductions, returns of goods and packaging, and refunds for the settlement period in which the correcting invoice was issued.
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Taxpayers will be able to reduce their VAT base due to discounts, price reductions, returns of goods and packaging, and refunds for the settlement period in which the correcting invoice was issued.
However, the refund is conditional on the taxpayer's documentation, consistent with the established commercial terms, demonstrating that they agreed with the buyer on the conditions for reducing the tax base for the supply of goods or services specified in the correcting invoice, and that the invoice aligns with the documentation.
If the taxpayer does not possess the required documentation in the settlement period when the correcting invoice was issued, the reduction of the tax base can be made in the settlement period when the taxpayer obtains the documentation. Therefore, taxpayers will not need confirmation of receipt of the correcting invoice.
Amendments to Article 29a, sections 17 and 18, of the VAT Act are planned, stipulating that when the tax base increases, the adjustment should be made in the settlement period in which the reason for the increase occurred. For exports of goods and intra-community supplies of goods, the increase in the tax base should occur no earlier than in the tax return filed for the settlement period in which these transactions were reported.
In summary, the VAT base can be lowered due to price adjustments, returns, and refunds, provided sufficient documentation demonstrates agreement with the buyer regarding the reasons for the correction. The reduction can be applied in the period the documentation is obtained. Confirmation of receipt of the correction invoice is not required. Future VAT law adjustments will require the tax base increase to be reported in the period when the reason for the increase occurred, with specific rules for exports and intra-community supplies. The changes aim to provide clarity and flexibility in VAT adjustments related to correcting invoices.
In recent years, limited partnerships have been a popular business structure in Poland. According to the Central Statistical Office, the number of limited partnerships increased by 13.3% in 2019 compa
In recent years, limited partnerships have been a popular business structure in Poland. According to the Central Statistical Office, the number of limited partnerships increased by 13.3% in 2019 compared to 2018, while all commercial law companies increased by 6.4% in the same period. This popularity stemmed from the limited liability of the limited partner (komandytariusz) and the tax transparency, where only the partners paid income tax.
However, amendments to the Corporate Income Tax (CIT) Act, effective January 1, 2021, have changed the tax rules, making limited partnerships CIT payers. General partnerships with non-natural person partners will also be subject to CIT unless they disclose information about their CIT and PIT-paying partners.
Under the new rules, the general partner (komplementariusz) can deduct a portion of the CIT paid by the partnership from their income tax, offsetting the impact. However, limited partners will effectively face double taxation, both at the partnership level and individually. A tax exemption is provided for the limited partner, amounting to 50% of income from profit sharing, capped at PLN 60,000 annually per partnership, but restrictions apply based on ownership links and management roles. The new rules may apply from May 1, 2021, if the company chooses, while the financial books need to be closed the day before that happens.
These changes are expected to significantly reduce the popularity of limited partnerships, with businesses potentially shifting to general partnerships or limited liability companies. Legal advice is recommended for navigating these changes and choosing the appropriate legal form.
According to the published unified text of the Act, the following days are free from work: Sundays, January 1st (New Year's Day), January 6th (Epiphany), Easter Sunday, Easter Monday, May 1st (Labor D
According to the published unified text of the Act, the following days are free from work: Sundays, January 1st (New Year's Day), January 6th (Epiphany), Easter Sunday, Easter Monday, May 1st (Labor Day), May 3rd (National Day of the Third of May), Pentecost Sunday, Corpus Christi, August 15th (Assumption of the Blessed Virgin Mary), November 1st (All Saints' Day), November 11th (National Independence Day), December 25th (Christmas Day), and December 26th (Second Day of Christmas).
In the event of a declared state of epidemic threat or epidemic, a day designated by the Prime Minister via regulation is also a day off. When issuing such a regulation, the Prime Minister considers ensuring health security within the territory of the Republic of Poland.
All regulations governing holidays that differ from the provisions of this Act are repealed.
The Act came into force on the date of its publication.
Summary:
The legal text specifies public holidays in Poland. These include Sundays, New Year's Day, Epiphany, Easter (Sunday and Monday), Labor Day, National Day of the Third of May, Pentecost, Corpus Christi, Assumption Day, All Saints' Day, National Independence Day, and Christmas (both days). Moreover, during a declared epidemic threat or epidemic, the Prime Minister can designate an additional day off via regulation, prioritizing public health security. The Act supersedes all previously conflicting regulations regarding public holidays and took effect immediately upon publication.
On October 28, 2020, the Council of Ministers approved a bill amending the laws on personal income tax, corporate income tax, and lump-sum income tax on certain income earned by individuals, among oth
On October 28, 2020, the Council of Ministers approved a bill amending the laws on personal income tax, corporate income tax, and lump-sum income tax on certain income earned by individuals, among other laws. The law introduces changes to the regulations concerning the registered lump-sum tax. Key updates include increased income limits, revised tax rates, and the extension of lump-sum taxation to rental income from business activities, all effective from 2021.
The Ministry anticipates these changes will benefit taxpayers by enhancing the attractiveness of the lump-sum taxation method and broadening the range of taxpayers eligible to use it. Lump-sum taxation involves paying tax at a fixed percentage rate on total income, without deductions for business expenses, although income can be reduced by paid social security contributions.
Specifically, the changes increase the income threshold for electing the lump-sum tax and for making quarterly payments. The eligibility limit for using this form of taxation will rise from 250,000 to 2 million euros. The law also modifies several lump-sum tax rates, introducing new rates depending on the income source, such as 17%, 15%, 12.5%, 10%, 8.5%, 3%, and 2%. Furthermore, it eliminates many cases where specific activities disqualify taxpayers from using the lump-sum. Entrepreneurs engaged in activities currently excluded from this form of taxation will now be eligible. The definition of "free professions" eligible for lump-sum taxation will be updated to include legal, accounting, tax advisory, and rental services. The regulations also unify the lump-sum rate for rental and accommodation services and taxpayers renting properties as part of their business activity will be able to tax them with a flat-rate income tax. Most of these provisions are set to take effect on January 1, 2021.
Reserves - Presentation in the Financial Statement
11/10/2020
Reserves are presented in the liabilities section of the balance sheet, specifically under "Provisions for Liabilities." This includes reserves for deferred income tax, retirement and similar benefits
Reserves are presented in the liabilities section of the balance sheet, specifically under "Provisions for Liabilities." This includes reserves for deferred income tax, retirement and similar benefits, and other reserves. Retirement and other reserves, along with other reserves are further divided into long-term and short-term portions. Deferred income tax reserves are always classified as long-term, regardless of their utilization timeframe.
Long-term reserves are those expected to be used beyond 12 months from the balance sheet date, while short-term reserves are anticipated to be used within that 12-month period. Deferred income tax reserves are created due to temporary differences that will increase the future income tax base.
Reserves for retirement benefits encompass all significant employee benefits arising from legal regulations, collective agreements, or employment contracts, excluding restructuring reserves. Companies also create reserves for unused vacation time or management bonuses tied to profits. Restructuring reserves cover costs associated with significant changes in operations, such as personnel reductions or facility closures, only recognized when there is a commitment to restructure and costs can be reliably estimated.
Other reserves include accruals for probable and material operating costs with uncertain timing, like warranty repairs or environmental remediation. Reserves for losses cover unfavorable events, such as guarantees or pending lawsuits. Specific accounting treatment for VAT, social security, and other public liabilities may vary based on differing theories, which must be disclosed in accounting policies. The additional information must provide specifics like purpose, opening balance, increases, usage, reversals and closing balance of reserves. It also includes obligation descriptions, uncertainty disclosures, key assumptions and anticipated asset returns.
How to avoid mistakes when applying 50% tax-deductible expenses for creators?
11/9/2020
To qualify compensation as a royalty and apply 50% deductible expenses, the following conditions must be met: a copyrighted work must be created, objective evidence confirming its creation must exist,
To qualify compensation as a royalty and apply 50% deductible expenses, the following conditions must be met: a copyrighted work must be created, objective evidence confirming its creation must exist, and the royalty for the work must be clearly separated from other salary components. These 50% deductible expenses apply exclusively to creators in fields like architecture, literature, music, computer programming, journalism, scientific and artistic endeavors.
Copyright law protects any original, individual expression of creative activity, regardless of its form, value, or purpose. Royalties under employment or civil law contracts can also qualify for the 50% deductible expenses.
To establish a royalty for work performed under an employment contract, the contract must differentiate between the royalty component and the employee duties component. Detailing the time spent on creative work as a percentage is insufficient. The royalty must be linked to the creation of a specific work or works. Documentation of copyright income and its amount is required and can be proven by any legally admissible evidence. Examples of evidence include records of created works, declarations documenting the creation of a specific work, or time records linked to a specific work. The annual deductible expense limit for copyright royalties in 2020 was PLN 85,528.00. This limit is capped annually.
PIP Control – Scope and Powers – What You Need to Remember?
11/3/2020
Labor inspectors, authorized to conduct inspections, have broad powers including unrestricted access to premises, the ability to inspect facilities, workplaces, machinery, and work processes, and the
Labor inspectors, authorized to conduct inspections, have broad powers including unrestricted access to premises, the ability to inspect facilities, workplaces, machinery, and work processes, and the right to demand information (written and oral) from employers, employees, and those working under other arrangements. They can summon and interrogate individuals, request documents related to construction, plant modernization, and operation, and demand samples of raw materials. Inspectors can also review personnel files, verify identities, use expert assistance, and conduct unannounced inspections at any time to check compliance with labor laws, particularly regarding safety and health, legality of employment, minimum hourly wage, and restrictions on Sunday trading. They don't need permission to enter a controlled site.
Employers are required to maintain an inspection logbook. Common inspection areas include the legality of employment, working hours, vacation usage, wage calculations, parental rights, and workplace safety and health. Internal audits are recommended to prepare for potential inspections by identifying and addressing any non-compliance issues. Creating a safe work environment and having a well-trained administrative staff ensures proper compliance.
Entrepreneurs and citizens must prepare for new fees and increases in existing levies. Property tax will rise by approximately 5%, and market and spa fees will also increase, tied to inflation. ZUS co
Entrepreneurs and citizens must prepare for new fees and increases in existing levies. Property tax will rise by approximately 5%, and market and spa fees will also increase, tied to inflation. ZUS contributions for entrepreneurs will go up by about 16 PLN to nearly 1,450 PLN monthly. A new energy charge will be added to electricity bills, estimated at 10 PLN per month for households. RTV subscription fees are increasing by 7-8%.
A sugar tax will affect sweetened beverages, including alcoholic ones, with a 20% price hike on items like Coca-Cola. A fee on small alcohol containers ("małpki") will be introduced, calculated per liter of pure alcohol. Dog tax is also rising to a maximum of 130.30 PLN annually.
Planned government changes include a "rain tax" for properties with over 50% non-permeable surfaces, affecting some households. Full social security contributions will be required for multiple employment contracts. The "abolition relief" for Poles working abroad will be eliminated, potentially increasing their tax burden. A 15% fee will be charged for transferring funds from OFE to IKE accounts. An oil change fee of up to 10 PLN per liter is proposed. Retail and advertising taxes are planned, likely passed on to consumers. The solidarity tax threshold will be lowered, and its rate increased. Excise duty on used cars is also being considered to curb imports.
Additionally, new EU-level taxes are coming: a non-recycled plastic tax (80 euro cents per kg), a carbon border adjustment mechanism for high-emission goods, and a digital tax on companies exceeding 750 million euros in annual revenue.
These changes represent a significant shift in the financial landscape for individuals and businesses.
New taxes and fee increases will impact entrepreneurs and citizens, including property tax, market and spa fees, ZUS contributions, an energy charge, and RTV subscription hikes. A sugar tax will affect sweetened beverages, and new fees will apply to small alcohol containers and dog ownership. Upcoming government plans include a rain tax, full social security contributions on multiple contracts, and the elimination of the abolition relief for overseas workers. A fee for OFE to IKE transfers, an oil change fee, and retail/advertising taxes are also proposed. The solidarity tax threshold and rate may change, and excise duty on used cars is under consideration. At the EU level, new taxes on plastic, carbon-intensive imports, and digital services will be implemented, increasing the overall financial burden.
The "stay-at-home benefit" is available for tour guides and tourist guides (PKD 79.90.A) if their business was suspended after August 31, 2019, and was seasonal, operating for no more than nine months
The "stay-at-home benefit" is available for tour guides and tourist guides (PKD 79.90.A) if their business was suspended after August 31, 2019, and was seasonal, operating for no more than nine months in 2019. Tourist agents (PKD 79.11.A) are eligible if they started their business before April 1, 2020. Both groups must have experienced a COVID-related business standstill, not be subject to social security from another source, reside in Poland, and possess Polish citizenship or residency.
The benefit amounts to 80% of the 2020 minimum wage (PLN 2,080.00), is tax-free, and can be granted up to three times. Subsequent payments require a declaration that financial circumstances haven't improved. Applications are submitted electronically to ZUS within three months of the epidemic state being lifted.
An additional stay-at-home benefit is available for businesses in specific sectors like passenger land transport, equipment rental, tourist agencies, artistic performance activities, and amusement/recreation. Eligibility requires a 75% reduction in revenue compared to the same month in 2019, prior receipt of at least one stay-at-home benefit, and an electronic application within three months of the epidemic state's end. This additional benefit is taxable and its continuation depends on unchanged financial hardship.
Furthermore, businesses in various sectors, including hotels, event organizers, and entertainment, can apply for exemption from social security contributions for July, August, and September 2020. Eligibility requires being a contributor before June 30, 2020, a 75% revenue drop in the application month compared to 2019, and timely submission of declarations. Applications must be filed electronically by November 30, 2020. Paid contributions that are now exempt are refundable upon request, provided there are no outstanding debts.
Lower benefit due to reduced working hours based on the shield?
10/26/2020
As of October 9, 2020, new regulations came into effect that alter the calculation of sickness and maternity benefits. Many employers utilized crisis shield provisions to reduce working hours, which,
As of October 9, 2020, new regulations came into effect that alter the calculation of sickness and maternity benefits. Many employers utilized crisis shield provisions to reduce working hours, which, coupled with wage subsidies, helped preserve jobs. However, the initial rules were disadvantageous for individuals receiving sickness and maternity benefits. The Helsinki Foundation for Human Rights highlighted this issue and advocated for changes.
Previously, the basis for calculating sickness benefit was the average monthly salary over the preceding 12 months. If an employee's working hours were reduced within the calculation period or the month of incapacity, their benefit was based on the lower salary. This led to reduced benefits for many, estimated to affect around a thousand people, including those on maternity leave.
The updated legislation revises the calculation basis for sickness and maternity benefits. It will no longer consider reductions in working hours or less favorable COVID-19-related remuneration schemes. Individuals whose working hours are reduced under new arrangements will have their benefits calculated based on their full former working hours, preventing a loss of income. These changes are retroactive. Beneficiaries who received lower payments previously can apply to ZUS for retroactive adjustments.
The Ministry of Finance has clarified that if a sale not exceeding PLN 450 (EUR 100) is documented with a fiscal receipt that includes the buyer's NIP (tax identification number), functioning as a sim
The Ministry of Finance has clarified that if a sale not exceeding PLN 450 (EUR 100) is documented with a fiscal receipt that includes the buyer's NIP (tax identification number), functioning as a simplified invoice, a separate standard invoice will not be issued to the buyer for that sale. This is because a single sale cannot be documented by two invoices: the simplified invoice (receipt with NIP) and a standard invoice.
If a buyer prefers a standard invoice instead of a simplified one, they must inform the seller before the sale is registered on the cash register. In such cases, the seller should not record the sale on the cash register but rather issue a standard invoice.
The Ministry of Finance also points out that issuing consolidated invoices for fiscal receipts that are considered simplified invoices is not possible. Since receipts are recognized as invoices, a consolidated invoice cannot be issued to an invoice.
The fiscal receipt number identifies the simplified invoice when it includes the buyer's NIP up to PLN 450.
In the event of an error in the buyer's NIP on a receipt acting as a simplified invoice, a corrective note can be issued by the buyer, or a corrective invoice can be issued by the taxpayer with the correct NIP.
Ministry of Finance, tax explanation, receipt, simplified invoice
When preparing financial statements, entities must identify business risks and assess their probable costs. This identification process leads to the creation of provisions for liabilities. Provisions
When preparing financial statements, entities must identify business risks and assess their probable costs. This identification process leads to the creation of provisions for liabilities. Provisions are defined as liabilities with uncertain timing or amount, as per accounting regulations and international standards. They represent existing, unavoidable obligations to provide future benefits, with estimable amounts. The key characteristic of provisions is the uncertainty regarding their final value, settlement date, and sometimes even the recipient of the benefits when they are recognized. Consequently, provisions require separate accounting and disclosure in financial statements, presented as "Provisions for liabilities" in the liabilities section of the balance sheet.
While uncertainty exists, it does not justify excessive provisions or deliberate overstatement of liabilities. Conversely, difficulties in estimating a provision's amount or settlement date should not lead to its omission. If reliable estimation is impossible, the liability may be disclosed off-balance sheet or as a contingent liability. However, if it doesn't materially distort the entity's financial position, foregoing provision creation is permissible. Provisions are classified as other operating costs or financial costs depending on the associated circumstances.
Provisions are maintained until the risk they cover ceases. When the risk materializes, the provision is converted into a liability. Provisions are reduced (utilized) when the obligation they were created for arises. If the risk diminishes or disappears, unused provisions increase other operating income or financial income. Insufficient provisions to cover a liability are written off to current period costs. Compensation between different provisions is not permitted. Tax-wise, provisions are generally not recognized as revenue-generating costs, only actual expenses incurred are deductible. The purpose of provisions is to safeguard against probable economic risks, reflect risks for a true financial picture, and ensure matching of revenues and costs.
The ultimate goal of provisions is to protect an entity from probable economic risks and potential losses associated with its operations. They serve to reflect these risks in the books, providing a clear and reliable picture of the entity's financial health. By creating provisions, companies can better match revenues and expenses, ensuring a more accurate representation of their financial performance. This practice is crucial for maintaining financial transparency and enabling informed decision-making by stakeholders. The proper accounting and disclosure of provisions are essential for presenting a faithful view of an entity's financial position and its ability to meet future obligations.
The Polish government, through the Ministries of Development and Finance, has announced a new tax relief program designed to boost industrial production by increasing the use of robots. This initiativ
The Polish government, through the Ministries of Development and Finance, has announced a new tax relief program designed to boost industrial production by increasing the use of robots. This initiative aims to enhance production efficiency, reduce costs, modernize the Polish economy, and improve its international standing in terms of robotization.
The structure of the relief, including the method of additional deduction and a catalog of eligible expenses, has been developed drawing from the experiences of the research and development tax relief. All companies, regardless of size or industry, will be eligible to benefit from this relief, which will apply to both Personal Income Tax (PIT) and Corporate Income Tax (CIT) payers.
Entrepreneurs will be able to deduct 50% of their robotization-related costs of obtaining revenue within the tax year. An additional write-off will be made when filing the annual tax return, similar to the R&D tax relief. Specifically, the 50% deduction from the tax base for qualifying costs related to robotization investments will cover the purchase or leasing of new robots and cobots, software, peripherals (such as track systems, manipulators, controllers, sensors, and end effectors), workplace safety and health (BHP) equipment, and training for employees who will operate the new equipment. Deputy Minister of Finance Jan Sarnowski confirmed the upcoming CIT and PIT relief for robotization.
On September 16, a draft amendment to Polish tax laws concerning personal income tax, corporate income tax, and lump-sum income tax for individuals was published. This amendment introduces a definitio
On September 16, a draft amendment to Polish tax laws concerning personal income tax, corporate income tax, and lump-sum income tax for individuals was published. This amendment introduces a definition for a "real estate company." A real estate company is defined as an entity, including non-corporate ones, where at least 50% of its market value assets over any 12 consecutive months consist of real estate located in Poland or rights to such real estate.
The justification for this definition cites the need for special regulations to align domestic law with double taxation treaties, particularly due to difficulties in collecting tax liabilities from shareholders of real estate companies.
A key change is that if shares in a defined real estate company are sold, and at least one party to the transaction is not a Polish tax resident, the real estate company itself will be obligated to act as a tax agent and pay income tax on the sale. Currently, the seller is responsible for this tax settlement, but non-residents often fail to declare such income in Poland.
Furthermore, the draft mandates that real estate companies must appoint a tax representative. Failure to do so will result in a monetary penalty of up to PLN 1,000,000 imposed by the tax office. The tax representative will be jointly liable with the real estate company for the tax obligations they handle.
Additionally, real estate companies will be required to provide information to the Head of the National Fiscal Administration regarding entities holding direct or indirect shares, partnerships, or similar rights within them for each tax or financial year.
Employee Hiring – Check If You Remember Everything!
10/15/2020
When hiring an employee, remember the following:
**Employment Contract:** A proper employment contract is crucial, whether it's for a trial period, a fixed term, or an indefinite period. It must be i
When hiring an employee, remember the following:
**Employment Contract:** A proper employment contract is crucial, whether it's for a trial period, a fixed term, or an indefinite period. It must be in writing, and any oral agreements need to be documented and signed by both parties. Any changes to the contract's terms also require written confirmation. The contract should clearly define the type of work (position, profession), place of work (specific address or designated area), working hours (full-time or part-time, specifying potential overtime entitlements), remuneration (including components like functional, seniority, special condition, special skill, and regulatory bonuses), and the start date.
**Medical Examinations:** New employees must undergo initial medical examinations before or on their first day of work. Throughout employment, periodic or control medical check-ups are necessary. These examinations are conducted at the employer's expense by a occupational medicine clinic with which the employer has a contractual agreement.
**Basic Information:** Within seven days of signing the contract, employees must receive essential information, including daily and weekly working hours, salary payment frequency, holiday entitlement, notice periods, and details about any applicable collective bargaining agreements. If the employer lacks internal work regulations, additional information about night hours, salary payment specifics, and procedures for attendance and absence justification must be provided.
**Health and Safety Training:** Initial health and safety (BHP) training must be completed before an employee begins work. This includes general instruction on labor code BHP regulations and job-specific training covering safe work methods and hazard mitigation. This training must be documented with the employee's confirmation.
**Social Security Registration:** Within seven days of hiring, employees must be registered with the Social Insurance Institution (ZUS) for social and health insurance.
When hiring an employee, ensuring a legally compliant employment contract, including clear terms on work, hours, and pay, is paramount. The contract must be in writing, and any amendments require the same formality. Employees are entitled to medical examinations, both initially and periodically, with the employer covering the costs. Essential information regarding working conditions, holidays, notice periods, and collective agreements must be provided within seven days. Furthermore, mandatory health and safety training, covering general principles and job-specific hazards, is required before work commences and must be documented. Finally, timely registration with the Social Insurance Institution (ZUS) for both social and health insurance is a legal obligation.
PPK Contributions – How Much, Who, By When, and Under What Rules?
9/28/2020
Contribution amounts:
Employee contributions are 2% of their gross salary, with an option for additional voluntary contributions up to 2%.
Employer contributions are 1.5% of the employee's gross sal
Contribution amounts:
Employee contributions are 2% of their gross salary, with an option for additional voluntary contributions up to 2%.
Employer contributions are 1.5% of the employee's gross salary, with an option for additional contributions up to 2.5%.
The state provides a one-time welcome contribution of PLN 250 and an annual contribution of PLN 240.
Who is required to enroll in Employee Capital Plans (PPK)?
All employees meeting legal criteria are enrolled: - Subject to mandatory retirement and disability contributions (employment contracts, piece-rate contracts, agency or mandate agreements, members of agricultural production cooperatives). - Minimum 90 days of employment with the same employer. - Employees aged 18-54 are automatically enrolled. - Employees aged 55-70 can join voluntarily.
Opting out of PPK:
Employees can opt out by submitting a declaration to their employer. Opting out means forfeiting employer contributions and state subsidies.
Important date - 60th birthday:
Upon reaching 60, employees can choose how to use their accumulated funds: - Continue saving in PPK. - Utilize the default payout: withdraw 25% lump sum and the remaining 75% in monthly installments over 10 years, tax-exempt on capital gains. - Employees can only withdraw 25% as a lump sum, but the remaining savings can be paid in any number of installments (minimum 120 installments to avoid capital gains tax).
Transfer payouts:
Employees can transfer funds to: - Insurance policies (with periodic or lifelong annuity). - Term deposit accounts. - Spousal benefits (from a joint marital account).
Employee Capital Plans (PPK) are a savings program with mandatory contributions from employees and employers, supplemented by state contributions. Automatic enrollment applies to most employees between 18 and 54, provided they meet minimum employment duration and contribution requirements. Older employees (55-70) can join voluntarily. Participants can opt out, forfeiting employer and state contributions. Upon reaching age 60, individuals have flexible options for accessing their funds, including a tax-exempt payout structure or continued saving. Funds can also be transferred to other financial products. The system aims to encourage long-term savings for retirement.
Overdue leave – the deadline for granting overdue leave has passed
9/25/2020
The Polish Labour Code grants employees the right to annual, uninterrupted, paid holiday leave. This leave can be divided at the employee's request, provided at least one part lasts a minimum of 14 co
The Polish Labour Code grants employees the right to annual, uninterrupted, paid holiday leave. This leave can be divided at the employee's request, provided at least one part lasts a minimum of 14 consecutive calendar days. Employees are entitled to either 20 or 26 days of leave annually, depending on their length of service, with the primary purpose being to allow for rest and rejuvenation, ensuring employees return motivated.
Situations where employees cannot utilize their allocated leave in a given year include work overload preventing timely leave, employer recalls due to unforeseen circumstances, or employee absences like illness or maternity leave. Unused leave does not expire. The law mandates that unused leave must be granted by September 30th of the following year, excluding leave taken on demand.
The "Anti-Crisis Shield 4.0" introduced a provision allowing employers, during the COVID-19 epidemic, to grant up to 30 days of leave to employees at a time specified by the employer, without employee consent and bypassing the leave plan. Despite the extended period for taking leave, many employers struggle to clear holiday backlogs, risking fines for non-compliance. It is best to jointly plan leave, but if an agreement cannot be reached, employers can mandate the use of overdue leave.
While the September 30th deadline is important, an employee's right to claim unused leave may extend for up to three years from the date it became due, if various reasons prevent its use.
Keywords: number of holiday days, labour code, unused leave, holiday leave transfer, entitled leave, shield 4.0, Holiday Leave
New obligations for listed companies – an important change!
9/24/2020
A new provision from the Polish Act of July 29, 2005, on public offering and conditions for introducing financial instruments into organized trading, and on public companies (Journal of Laws of 2019,
A new provision from the Polish Act of July 29, 2005, on public offering and conditions for introducing financial instruments into organized trading, and on public companies (Journal of Laws of 2019, item 623, as amended) has been introduced. This law mandates supervisory boards of listed companies to prepare an annual report on the remuneration of the management board and supervisory board, encompassing all benefits regardless of their form. This report must also be assessed by an independent auditor.
The remuneration report will be prepared separately from the annual financial statements. It needs to detail the total remuneration, explain its alignment with the company's remuneration policy and its contribution to long-term performance, and outline how performance criteria were applied. The report should also include information on changes in remuneration, company performance, and average employee wages (non-management/supervisory board members) over the last five fiscal years. Additionally, it must cover remuneration from related group entities, details of financial instruments granted or offered (including key terms like strike price and expiry dates), information on the recovery of variable remuneration, and any deviations from the remuneration policy implementation procedures, including reasons and the elements affected.
Previously unreported years can be omitted or presented using estimates, clearly indicated. Benefits for close relatives of management/supervisory board members must be valued and reported without personal details or justification. Close relatives are defined broadly. Companies must publish this report on their website for at least 10 years. The first report is due for 2019-2020, with an auditor’s assessment in 2021. The assessment is permissible for public interest entities by their statutory auditor, as confirmed by the Ministry of Finance.
Summary: A new Polish law requires listed companies' supervisory boards to publish annual remuneration reports for management and supervisory boards. These reports, separate from financial statements, detail total compensation, its alignment with policy, performance impact, and changes over time. They must also include remuneration from group entities and details on financial instruments and remuneration recovery policies. Previous years' data can be estimated if indicated. Benefits for close family members must be disclosed by value. The first report covers 2019-2020, with auditor review in 2021. The report must be online for 10 years. This transparency aims to improve corporate governance by providing clear information on executive compensation.
When is a financial statement subject to mandatory audit?
9/23/2020
A financial statement is subject to mandatory audit if it is an annual report covering a period of at least 12 months and is prepared by a company that is a going concern. A going concern is defined a
A financial statement is subject to mandatory audit if it is an annual report covering a period of at least 12 months and is prepared by a company that is a going concern. A going concern is defined as a company whose management foresees no threat to its continued operation or significant curtailment within the next 12 months after the balance sheet date.
Certain legal forms of companies are specifically listed in the Accounting Act as requiring mandatory audits. These include domestic banks, branches of credit institutions and foreign banks, insurance and reinsurance companies, cooperative savings and credit unions, entities operating under securities and investment fund regulations, pension fund entities, domestic payment institutions and electronic money institutions, and joint-stock companies (except those in the process of organization on the balance sheet date).
Thresholds for mandatory audits expressed in foreign currency must be converted using the average exchange rate published by the National Bank of Poland on the balance sheet date. For example, with a rate of 4.2585 on December 31, 2019, the thresholds were PLN 10,646,250 for total assets and PLN 21,292,500 for revenues. Exceeding two out of three thresholds in the previous year triggers a mandatory audit for the current year's statement, regardless of whether the thresholds are met in the audited statement itself.
There is no specific legal deadline for entering into an audit agreement. However, it is advisable to engage an auditor before the planned annual inventory of significant assets to allow their participation, as required by law.
For inquiries regarding mandatory audit verification, contact the audit department.
The increase in the minimum wage will also raise other benefits linked to it, including night work bonuses, the maximum severance pay for group layoffs, training benefits for laid-off individuals, com
The increase in the minimum wage will also raise other benefits linked to it, including night work bonuses, the maximum severance pay for group layoffs, training benefits for laid-off individuals, compensation for employees subjected to mobbing or discrimination, and the minimum base for social security contributions for entrepreneurs using preferential ZUS rates.
For employment contracts under the Labour Code, the minimum wage includes salary components and benefits arising from the employment relationship, such as bonuses, commissions, awards, and allowances. However, it excludes overtime pay, seniority bonuses, retirement and disability severance pay, and jubilee awards. The minimum hourly rate for contractors applies to contracts of mandate and service contracts under the Civil Code for each hour of service. These contracts are used for temporary work by individuals not running their own business, or running a business but not employing staff or subcontracting.
If the employment or mandate contract states a specific amount, an addendum reflecting the new minimum wage is required. If the contract states the wage is "minimum" without specifying an amount, an addendum isn't needed. To avoid updating contracts with each minimum wage change, include a clause specifying that the employee receives the current minimum wage as defined by the Act of October 10, 2002, on the minimum wage for work, which means the wage automatically increases with the minimum rate.
PPK – Little Time Left to Choose a Financial Institution
9/18/2020
Employer, when implementing Employee Capital Plans (PPK) in your company, remember to:
1. **Update software:** Ensure your HR and payroll team's software is up-to-date and adapted to administer PPK.
Employer, when implementing Employee Capital Plans (PPK) in your company, remember to:
1. **Update software:** Ensure your HR and payroll team's software is up-to-date and adapted to administer PPK. 2. **Informational campaign:** You are obligated to conduct an informational campaign among employees and individuals subject to mandatory pension insurance (contractors), informing them about the rights and obligations related to the introduction of PPK and the principles of PPK operation. 3. **Select a Financial Institution:** In agreement with the trade union organization or, if there is no such organization, with the employee representation, select a financial institution that will collect and invest funds. The deadline was September 30, 2020. A list of financial institutions approved by the Polish Development Fund can be found at mojeppk.pl/institucje-finansowe.html. 4. **Sign a PPK Management Agreement:** Sign a PPK Management Agreement with the selected financial institution by October 27, 2020. 5. **Sign a PPK Operation Agreement:** By the deadline of November 10, 2020, sign a PPK Operation Agreement with the institution with which you signed the PPK Management Agreement. 6. **Train employees responsible for PPK administration:** Properly prepare your employees responsible for servicing PPK participants. Pay particular attention to the need for timely payment of contributions to PPK and for maintaining and archiving documentation. Servicing PPK participants will involve reporting to the financial institution, as well as providing information to the PPK participants themselves.
For inquiries, contact oksana.nakonieczna@moorepolska.pl.
Summary:
Employers implementing Employee Capital Plans (PPK) must update their software for PPK administration, conduct informational campaigns for employees and contractors about PPK rights and obligations, and select a financial institution to manage PPK funds, in agreement with employee representatives. They need to sign both a PPK Management Agreement and a PPK Operation Agreement with the chosen institution by specific deadlines in 2020. Furthermore, employers must train employees responsible for PPK administration, emphasizing timely contributions, proper documentation, and accurate reporting to the financial institution and PPK participants. These steps ensure the effective implementation and management of PPK within the company, meeting legal requirements and benefiting participating employees. Contact information is provided for further inquiries.
As of October 1, 2020, new regulations mandate the submission of the electronic JPK_V7 document, which includes both record-keeping and declaration components, by active VAT taxpayers. This new file w
As of October 1, 2020, new regulations mandate the submission of the electronic JPK_V7 document, which includes both record-keeping and declaration components, by active VAT taxpayers. This new file will replace the existing VAT-7/VAT-7K declarations and the JPK_VAT file, merging the declaration and reporting requirements.
The first JPK_VAT file will be submitted for October 2020, with a deadline of November 25, 2020, and will be available in two versions: JPK_V7M for monthly VAT filers and JPK_V7K for quarterly VAT filers.
The new JPK will encompass a declaration part, containing information previously reported in VAT-7 and VAT-7K declarations, and a record-keeping part, featuring data from the current JPK_VAT file, supplemented with additional markings.
Taxpayers filing quarterly VAT returns will be required to submit JPK_VAT files for the first two months of the quarter, containing only the VAT record-keeping section. For the last month of the quarter, they will submit a JPK_VAT file with both parts completed, similar to monthly filers. The introduction of the new JPK_V7M and JPK_V7K files eliminates the need to submit VAT-ZD attachments, and the JPK will replace VAT-ZD, VAT-ZZ, and VAT-ZT.
TPR Form - A new development we should prepare for.
9/16/2020
The deadline for submitting the TPR form concerning transfer pricing transactions between related parties is approaching. The deadline was extended to the end of December 2020 by the "Shield 4.0" regu
The deadline for submitting the TPR form concerning transfer pricing transactions between related parties is approaching. The deadline was extended to the end of December 2020 by the "Shield 4.0" regulations for taxpayers whose original reporting deadline for 2019 fell between March 31, 2020, and September 30, 2020. The TPR form replaces the previous CIT-TP and PIT-TP reports.
Related entities are obligated to submit the TPR form if they engage in transactions subject to transfer pricing documentation requirements, transactions with entities located in tax havens, and domestic transactions between entities that did not incur losses in the tax year and were exempt from preparing transfer pricing documentation. Even if entities are exempt from preparing documentation, they are still required to submit the TPR form.
The form is submitted electronically to the Head of the National Revenue Administration and must be signed by the head of the entity or an authorized representative. The TPR form requires detailed information about transactions with related parties, including the results of comparability analyses and financial indicators such as operating margin, gross profit margin, return on assets, and return on equity. Taxpayers will directly provide the Head of the National Revenue Administration with detailed information about transactions with related parties. Taxpayers can refer to the explanations on how to prepare the transfer pricing information and the Ministry of Finance's draft document "TPR: Questions and Answers" for guidance. Preparing the TPR form can be time-consuming and problematic, so it should not be left to the last minute.
With mutual support, the new entity will accelerate its development. Rewit, a leading Polish audit firm with 26 years of experience, joined the international Moore Global network on September 2, 2020,
With mutual support, the new entity will accelerate its development. Rewit, a leading Polish audit firm with 26 years of experience, joined the international Moore Global network on September 2, 2020, becoming its exclusive representative in Poland. Founded in London in 1907, Moore Global now comprises 260 independent audit firms across 110 countries, providing its 30,000 professionals worldwide with access to extensive knowledge and support for clients expanding internationally.
Rewit will be renamed Moore Polska, enhancing its organizational culture, service offerings, and development opportunities within the Polish market while maintaining its independence. The company's goals, values, and mission will remain consistent, focusing on high-quality service, direct partnerships with clients, reliable advice, trust, and data security.
This partnership expands Rewit's potential client base, providing its specialists with broader knowledge and proven business solutions. Moore Global gains access to Rewit's expertise in auditing, taxes, business law, and marketing, strengthening its competitive edge in Central European markets.
Planned changes in regulations, tightening CIT and PIT.
9/8/2020
A draft law amending income tax acts for individuals and corporations, as well as the flat-rate income tax act, has been published. The government aims to tighten the corporate and individual income t
A draft law amending income tax acts for individuals and corporations, as well as the flat-rate income tax act, has been published. The government aims to tighten the corporate and individual income tax systems, linking tax amounts paid by large, especially multinational, companies to their actual income location. The draft addresses loopholes in CIT, sparking concern among taxpayers.
The proposed solutions include extending CIT to limited partnerships and undisclosed general partnerships in Poland, facilitating tax recovery on real estate company share sales by non-residents. It also mandates public tax policy disclosure for select corporate income taxpayers and modifies transfer pricing rules. Adjustments are made for the Polish economy, particularly concerning debt financing and tax policy. Furthermore, the draft aims to align depreciation cost recognition with accounting principles and international standards for determining balance sheet profits or losses.
The draft seeks to address tax optimization structures using limited partnerships, grant limited partnerships corporate income taxpayer status, ensure verification of settlements by general partnership members, and raise the revenue limit for the 9% CIT rate from €1.2 million to €2 million to support SMEs. The plan is to adopt the draft in Q3 2020.
On August 25, 2020, the President signed a law from February 14, 2020, amending certain laws to promote healthier consumer choices. This law introduces a "sugar tax" on sweetened and energy drinks, co
On August 25, 2020, the President signed a law from February 14, 2020, amending certain laws to promote healthier consumer choices. This law introduces a "sugar tax" on sweetened and energy drinks, consisting of a fixed charge of 50 gr per liter for drinks with added sugar or sweeteners, 10 gr per liter for those with active substances like caffeine or taurine, and a variable charge of 5 gr per gram of sugar above 5g/100ml. Entities selling drinks to retail outlets or ordering drinks for production are responsible for paying this fee monthly and submitting electronic reports. Late payments incur an additional charge of 50% of the due amount. Revenue from the sugar tax goes to the National Health Fund (96.5%) and the state budget (3.5%).
The law also amends regulations on alcoholic beverages, introducing a fee for selling alcohol in containers of 300ml or less. This amounts to 25 zł per liter of pure alcohol sold in such small packages. Wholesale alcohol distributors are responsible for calculating and paying this fee semi-annually. Failure to pay incurs penalties of 2000 zł or 11,250 zł depending on the alcohol content of the wholesale permit. Revenue from this alcohol fee is split equally between local municipalities and the National Health Fund. Both the sugar tax and the alcohol fee are set to take effect on January 1, 2021.
Employee documentation includes personnel files maintained separately for each employee and documents related to employment relationships. Personnel files, since January 1, 2019, are divided into four
Employee documentation includes personnel files maintained separately for each employee and documents related to employment relationships. Personnel files, since January 1, 2019, are divided into four parts: A, B, C, and D, containing documents related to the job application, employment, termination, and disciplinary actions, respectively. Alongside personnel files, employers must maintain documentation related to employment relationships, including records of work hours, vacation requests, wage payments, and allocation of work clothing and protective equipment.
The retention period for employee documentation depends on the date the employment relationship began. For relationships started on or after January 1, 2019, the retention period is 10 years. For relationships started between January 1, 1999, and December 31, 2018, the retention period is either 10 years if the employer submitted a specific information report, or 50 years if they did not. For relationships started before December 31, 1998, the retention period is also 50 years, unless the report was submitted.
Employers can choose to maintain documentation in either paper or electronic form, ensuring confidentiality, integrity, completeness, and accessibility while protecting against damage or destruction. Failure to maintain, store, or properly handle employee documentation can result in fines ranging from PLN 1,000 to PLN 30,000.
The anti-crisis shields introduced many solutions impacting tax settlements. In response to taxpayer doubts, the Ministry of Finance prepared a special guide on how to apply the tax chan
Translation:
The anti-crisis shields introduced many solutions impacting tax settlements. In response to taxpayer doubts, the Ministry of Finance prepared a special guide on how to apply the tax changes introduced due to the COVID-19 pandemic.
The explanations primarily present the rules for applying the solutions introduced in the individual laws passed from March to June of this year, the so-called anti-crisis shields. The explanations concern those solutions that have consequences in the area of tax liabilities due to the preferential solutions provided for in the individual shields. The study has been divided into chapters:
Chapter I: Preferences in income taxes
Chapter II: Preferences in value-added tax
Chapter III: Other preferences
Chapter IV: Preferences in property tax applied in connection with bearing the negative economic consequences due to COVID-19
Chapter V: Exemption from inheritance and donation tax
Deputy Minister Sarnowski informed that the explanations concern entrepreneurs, employees, donors and investors and added that referring to these explanations protects the taxpayer from the negative consequences of possible errors.
The COVID-19 tax explanations contain over 70 practical examples that may be helpful in certain situations. The Ministry of Finance has announced that it will supplement the document with explanations of new situations.
Summary:
To address tax uncertainties arising from COVID-19 relief measures, the Ministry of Finance has released a guide clarifying the application of tax changes introduced through anti-crisis shields enacted between March and June. This guide details preferential tax treatments affecting income tax, value-added tax, property tax related to COVID-19 economic impacts, inheritance and donation tax exemptions, and other tax benefits. Deputy Minister Sarnowski emphasizes that referencing this guide protects taxpayers from penalties resulting from potential errors. Targeted at entrepreneurs, employees, donors, and investors, the explanations include over 70 practical examples and will be updated with new scenarios as needed. The guide clarifies tax liabilities and provides a safety net for taxpayers navigating the complex tax landscape altered by the pandemic relief measures.
Impact of lease agreement modifications on valuation under IFRS 16
8/19/2020
Entrepreneurs frequently question whether changes to lease agreement terms, such as price adjustments or modifications to the scope of the leased asset, necessitate re-evaluation under IFRS 16. This a
Entrepreneurs frequently question whether changes to lease agreement terms, such as price adjustments or modifications to the scope of the leased asset, necessitate re-evaluation under IFRS 16. This article examines key lease accounting issues for companies reporting under IFRS, excluding Polish accounting law.
IFRS 16, effective from January 1, 2019, mandates a faithful representation of lease transactions. Its definition of a lease is broader, focusing on the right to use an asset, based on a control model. This means analyzing an asset's disposability and the lessee's ability to derive benefits from its use, within contractual limits. Consequently, service-type contracts previously expensed, like rentals or land use rights, may now qualify as leases under IFRS 16, regardless of their contractual form. The lessee is responsible for assessing lease classification.
IFRS 16 offers exemptions for short-term leases (12 months or less) and low-value assets, allowing direct expensing. Certain leases, such as those for non-renewable resources or biological assets, are excluded. The standard eliminates the concept of operating leases and off-balance sheet accounting, requiring a comprehensive approach impacting financial reporting, internal controls, and IT systems.
Key implications for lessees include increased assets and liabilities, altered financial ratios, changed cost classifications (rent, interest, depreciation), impacts on covenants and credit ratings, stakeholder perception, IT system adjustments, and the need for more detailed contract data. Lease terms are based on the irrevocable period plus reasonably certain extension options, requiring reassessment upon significant events. For indefinite-term leases, lessees estimate the term based on various factors.
At commencement, the lease liability is calculated based on discounted future lease payments. Lease payments include fixed payments, variable payments tied to rates or indexes, residual value guarantees, purchase options if likely to be exercised, and termination penalties if early termination is probable. Changes to contract terms, especially price adjustments, raise questions about whether to account for them as separate leases or modifications. The article offers assistance with recognizing and valuing such contract modifications.
Personnel Audit, Accounting Audit – The New Value of Ad Hoc Support
8/17/2020
A well-functioning accounting and HR/payroll department is fundamental for a reliable assessment of any company aiming to build and maintain a strong market position, ensuring owner security and good
A well-functioning accounting and HR/payroll department is fundamental for a reliable assessment of any company aiming to build and maintain a strong market position, ensuring owner security and good external reputation. Avoiding conflicts with tax authorities, the need for corrections, explanations, and additional payments on top of already high tax burdens is a significant challenge today.
Companies increasingly face these challenges by utilizing outsourcing firms and accounting/auditing/consulting offices for periodic reviews of accounting books and tax declarations, as well as audits of employee files and payroll calculations. The goal isn't to replace trusted accountants but to gain an independent perspective, gain insight into areas lacking time, and receive consultations on complex regulations. External specialists can also identify potential improvements, automation, and increased efficiency across various company processes by leveraging their knowledge of different industries, IT systems, and financial operations.
While such reviews can reveal irregularities or knowledge gaps, it's always better to address issues late than never.
Key aspects of HR/payroll audits include: verifying internal regulations; completeness and correctness of employee documentation (medical certificates, safety training, employment certificates, leave records); proper settlement of business trips and car usage agreements; verification of benefit calculations and working time; and correctness of payroll components.
Key aspects of accounting reviews include: reviewing accounting policies; checking amortization plans and their accounting/tax treatment; verifying sales invoice accuracy and completeness of warehouse circulation documents; verifying the tax treatment of non-standard operations (car settlements, leases, loans, grants); checking accounts with tax offices, social security, and employees; and verifying corporate income tax and VAT calculations. The scope is tailored to each company's size and potential issues. These reviews are conducted by accounting and HR practitioners and do not incur the financial burden of formal audits.
Deputy Minister of Finance Jan Sarnowski described SLIM VAT as "a simple, modern tax adapted to local specifics." He explained that Polish specifics include many sm
Upcoming changes in VAT – SLIM VAT
Deputy Minister of Finance Jan Sarnowski described SLIM VAT as "a simple, modern tax adapted to local specifics." He explained that Polish specifics include many small and medium-sized enterprises that handle their own tax settlements, and with technological advancements, many obligations and regulations are losing relevance. Large companies are also expected to benefit from the changes. For them, SLIM VAT means simplification of financial and accounting department work and time savings, resulting in tangible financial benefits for businesses.
The main areas of change include simplifications in invoicing, exports, and currency exchange rates.
Simplified Invoicing: Corrections in invoicing (in-minus): Reduced invoicing registration obligations. Entrepreneurs will be exempt from the formal requirement of obtaining confirmation of receipt of a correcting invoice from the buyer. Taxpayers will lower the tax base and VAT due in the period of issuing the correcting invoice, provided their documentation shows agreement with the buyer on transaction terms. The buyer will be obliged to make a corresponding correction of input tax.
Corrections in invoicing (in-plus): The VAT Act will introduce provisions specifying how to settle correcting invoices that increase the tax base. Previously, taxpayers relied on interpretations and case law, leading to legal uncertainty. Now, taxpayers will gain certainty, with settlements made currently in the period the correcting invoice is issued.
Export Simplifications: The period for applying the zero VAT rate on advance payments for goods exported outside the EU will be extended from 2 to 6 months. This aims to ensure the neutrality of advance payments in exports, facilitating trade, especially eastward.
Currency Exchange Rate Rules: Taxpayers will be able to choose a common currency exchange rate for calculating revenue in both VAT and income tax. This will reduce the time spent determining separate rates for different taxes on the same transaction, eliminating discrepancies between VAT and CIT calculations.
Other financial benefits include: Extended period for deducting VAT to four months. Deducting VAT on invoices for accommodation services purchased for resale. Increased limit for low-value gifts.
Deputy Minister Sarnowski announced that the project has concluded internal consultations and is planned to come into effect in the first months of 2021.
Summary: Poland is introducing "SLIM VAT," a package of reforms aimed at simplifying the VAT system for businesses, particularly small and medium-sized enterprises. Deputy Minister of Finance Jan Sarnowski highlighted that the changes will streamline invoicing, export procedures, and currency exchange rate calculations, benefiting companies of all sizes by reducing administrative burdens and saving time.
Key simplifications include easier correction of invoices, both reducing and increasing VAT amounts, with clearer rules for timing and buyer acknowledgment. For exports outside the EU, the period for applying a zero VAT rate on advance payments will be extended from two to six months, supporting international trade. A significant change allows taxpayers to use a single currency exchange rate for both VAT and income tax calculations, eliminating previous discrepancies and speeding up compliance. The reforms also extend the VAT deduction period to four months, permit VAT deduction on accommodation services for resale, and increase the limit for low-value gifts. These measures are expected to be implemented in early 2021, fostering a more efficient and modern tax environment.
The Ministry of Finance has released a draft amendment to the Corporate Income Tax Act and other related laws for pre-consultation, introducing provisions for the so-called Estonian CIT. This model, p
The Ministry of Finance has released a draft amendment to the Corporate Income Tax Act and other related laws for pre-consultation, introducing provisions for the so-called Estonian CIT. This model, planned to be implemented from January 2021, shifts the taxation of corporate profits. Under the Estonian CIT model, corporate income taxpayers will not pay advance tax payments or annual tax settlements. Instead, CIT will only be payable upon the distribution of profits.
This solution is intended for small and medium-sized limited liability companies and joint-stock companies. Eligibility criteria include: annual revenues not exceeding PLN 50 million, shareholders being exclusively individuals, no ownership stakes in other entities, employment of at least 3 individuals besides shareholders, passive income not exceeding operational income, and demonstrating investment expenditures. Taxpayers can opt for the Estonian CIT model for a period of 4 years, with the possibility of extension for subsequent 4-year periods.
The Ministry of Finance has also published FAQs on the Estonian CIT. It clarifies that separate tax accounting records will not be required, as financial accounting will suffice for tax calculation. However, certain reporting obligations remain, such as filing tax returns and paying tax following dividend distribution or other profit distributions, or non-business-related payments. It is advisable to monitor the final form of these regulations to assess their attractiveness for businesses.
Up to 90% funding from ZUS for investments improving working conditions and OHS.
7/31/2020
On July 22, 2020, the Social Insurance Institution (ZUS) announced a new call for applications for co-financing of investment and advisory projects conducted by contribution payers. The aim of these p
On July 22, 2020, the Social Insurance Institution (ZUS) announced a new call for applications for co-financing of investment and advisory projects conducted by contribution payers. The aim of these projects is to improve occupational safety and health, reduce the risk of accidents at work or occupational diseases, and mitigate the adverse effects of risk factors.
Micro, small, medium, and large enterprises are eligible to apply. To qualify, applicants must not be in arrears with social or health insurance contributions or taxes, not be bankrupt or in liquidation, and must not have applied for co-financing within three years of receiving a previous grant or returning one.
Co-financing levels vary depending on the type of enterprise. The application period ran from July 27 to August 31, 2020. Eligible investments include improvements to technical installations, machinery, workplaces, noise and vibration reduction, lighting, electrical safety, air purification and ventilation systems, equipment for working at heights or in confined spaces, systems for reducing musculoskeletal strain, protection against chemical and biological hazards, and personal protective equipment.
While the application process may seem straightforward, it requires careful preparation to meet formal and substantive assessment criteria. Ensuring documentation is complete and the project receives a good assessment is crucial. For those unsure about filling out the application, seeking assistance from specialists in labor and OHS matters is recommended to save time and potentially gain insights into system improvements.
Simplifications for entities not exceeding small entity limits
7/27/2020
The Accounting Act specifies simplifications that entities can apply, including qualifying lease agreements according to tax regulations, calculating the cost of production by adding indirect costs re
The Accounting Act specifies simplifications that entities can apply, including qualifying lease agreements according to tax regulations, calculating the cost of production by adding indirect costs regardless of production capacity, waiving detailed rules for recognizing, valuing, disclosing, and presenting financial instruments, and waiving the determination of deferred income tax assets and reserves.
However, these simplifications are unavailable to banks, insurance companies, credit unions, investment funds, pension funds, entities operating under securities trading regulations, those seeking or holding permits for banking, insurance, investment fund, or pension fund activities, alternative investment companies, issuers of securities admitted or seeking admission to trading on regulated markets of the European Economic Area, issuers of securities traded in alternative trading systems, national payment institutions, and electronic money institutions.
Furthermore, an entity can only use simplifications if it didn't exceed two of the following thresholds in the previous financial year: PLN 25,500,000 in total balance sheet assets, PLN 51,000,000 in net revenue from the sale of goods and products, and an average annual employment of 50 full-time employees. Meeting these conditions allows for simplification, regardless of whether the entity is classified as a small entity. To implement these simplifications, a relevant provision must be included in the accounting policies. These new policies apply from the first day of the financial year, irrespective of when the decision to change the policies was made. The head of the entity is responsible for changes to accounting policies.
Polish law regarding IP Box (Intellectual Property Box) is outlined in the PIT (Personal Income Tax) and CIT (Corporate Income Tax) acts. Qualified intellectual property rights include patents, utilit
Polish law regarding IP Box (Intellectual Property Box) is outlined in the PIT (Personal Income Tax) and CIT (Corporate Income Tax) acts. Qualified intellectual property rights include patents, utility model protection rights, industrial design registration rights, integrated circuit topography registration rights, supplementary protection certificates for medicinal or plant protection products, rights from registering medicinal and veterinary medicinal products, exclusive rights under the Plant Variety Protection Act, and copyrights to computer programs.
To utilize the IP Box relief, companies must conduct research and development activities, defined as creative activities encompassing scientific research or development work undertaken systematically to increase knowledge resources and utilize them for new applications. The tax base is the sum of qualified income from these rights.
Companies seeking IP Box benefits must maintain clear accounting records confirming R&D projects to calculate the tax base. Tax explanations from July 15, 2019, emphasize detailed records for each R&D project, including project description, start and end dates, involved personnel, and tasks with assigned individuals. These records help calculate cost/income proportions for projects qualifying for the relief. The Finance Ministry recommends requesting individual tax interpretations, but the response time is currently extended to six months due to the anti-crisis shield, suggesting an early application.
What is a Subsidy from the Polish Development Fund?
7/21/2020
The Polish Development Fund (PFR) financial shield support is available to businesses employing 1-9 employees (micro-enterprises) with an annual turnover or balance sheet total not exceeding EUR 2 mil
The Polish Development Fund (PFR) financial shield support is available to businesses employing 1-9 employees (micro-enterprises) with an annual turnover or balance sheet total not exceeding EUR 2 million, or those employing up to 249 employees with turnover under EUR 50 million or a balance sheet total under EUR 43 million, excluding micro-enterprises. Applicants must demonstrate a revenue decrease of at least 25% in any month since February 2020 compared to the previous month or the same month in 2019 due to COVID-19. They must be active on the application date, not in liquidation or bankruptcy proceedings, have tax residency in Poland, have operated as of December 31, 2019, and not have outstanding tax or social security payments as of December 31, 2019, or the funding date.
Funding is applied for through banks cooperating with PFR. Up to 75% of the funds may be non-refundable if program conditions are met. For micro-enterprises, conditions include continuing operations for 12 months (25% forgiveness) and maintaining average employment (up to 50% forgiveness). For small and medium-sized enterprises (SMEs), an additional condition is reporting a loss on sales (25% forgiveness), alongside the other two. Funds can only cover business operating costs, including salaries, goods/services, external financing costs, public liabilities, rent, fixed asset purchases, and repayment of existing loans (up to 25% of the subsidy). Funds cannot be used for transactions with related parties, share acquisitions for redemption, mergers/acquisitions, or early loan repayments exceeding 25% of the subsidy.
For accounting purposes, the Finance Ministry views the subsidy as a loan. While the subsidy is tax-exempt, any forgiven amount constitutes taxable income. Expenses covered by the subsidy are tax-deductible.
Anti-crisis shield: are the funds from the anti-crisis shield taxable?
7/17/2020
The interpellation concerns the tax treatment of financial aid provided to businesses and entrepreneurs, specifically focusing on whether loans are taxable as income, if loan forgiveness constitutes t
The interpellation concerns the tax treatment of financial aid provided to businesses and entrepreneurs, specifically focusing on whether loans are taxable as income, if loan forgiveness constitutes taxable income, the tax implications of the one-time 5000 zł loan, and the deductibility of ZUS contributions that were waived. The inquiry also questions the lack of clarity regarding the tax treatment of these aid programs and asks if the ministry plans to introduce tax exemptions to ensure the aid is truly beneficial.
Deputy Finance Minister Jan Sarnowski responded, clarifying that financial assistance from the Polish Development Fund (PFR) is treated as a loan, not income. Receiving the loan is tax-neutral. However, any forgiven portion of the loan is considered taxable income. The Ministry is considering partial tax exemptions for these loan forgiveness amounts in 2021. As for the one-time 5000 zł loan for micro-entrepreneurs, while receiving the loan is tax-neutral, the COVID-19 act specifically exempts the forgiven amount from income tax. Regarding waived ZUS contributions, these cannot be deducted as expenses because they were not paid by the entrepreneur. However, the waiver itself is exempt from income tax. The Ministry of Finance's position on other forms of aid can be found in official communications.
New JPK_VAT – Will every error be subject to a PLN 500 penalty?
7/14/2020
It's time to consider and prepare for the upcoming changes to the JPK_VAT (Standard Audit File for Tax) reporting, despite the simplification, new obligations have been introduced. These include provi
It's time to consider and prepare for the upcoming changes to the JPK_VAT (Standard Audit File for Tax) reporting, despite the simplification, new obligations have been introduced. These include providing additional data, such as special codes (GTU codes) for specific goods and services listed in a catalog of 13 items (e.g., alcohol, tobacco, electronics, waste, vehicles, buildings, transport, consulting). Additionally, certain transaction types, like those subject to mandatory split payment or transactions with related parties, must be marked.
Taxpayers must analyze these new requirements. For instance, the mandatory split payment (MPP) applies when an invoice exceeds 15,000 PLN and includes items from Annex 15 of the VAT Act. Currently, taxpayers often mark "split payment mechanism" on every invoice exceeding 15,000 PLN, which might now be considered an error if it's not obligatory MPP.
Starting October 1st, a penalty of 500 PLN per error "preventing verification of transaction correctness" may be imposed. Incorrectly indicating a GTU code could be considered such an error. Therefore, it's advised to review the new JPK_VAT requirements and prepare for the changes taking effect on October 1, 2020.
From 1 July 2020, BTI – Binding Tariff Information protects taxpayers.
7/10/2020
Significantly, a request for a Binding Rate Information (WIS) ruling can pertain to transactions involving goods and services listed in Annex 15 of the VAT Act, subject to mandatory split payment, and
Significantly, a request for a Binding Rate Information (WIS) ruling can pertain to transactions involving goods and services listed in Annex 15 of the VAT Act, subject to mandatory split payment, and goods whose trading prevents the application of the subjective exemption listed in Annex 12 of the VAT Act. Establishing the correct classification of goods according to the Combined Nomenclature (CN) or services according to the Polish Classification of Products and Services (PKWiU) is crucial in these regulations.
The applicant for a WIS ruling can be a VAT-registered taxpayer or any entity engaged in or intending to engage in the supply or import of goods, intra-Community acquisition of goods, or provision of services, as well as a contracting authority under the Public Procurement Law, affecting price calculation in public procurement.
The application must include a detailed description of the goods or services, enabling identification according to CN or PKWiU, and specify the classification system to be used. Documents like photos, plans, instructions, formulas, certificates, or manufacturer information can be attached to facilitate accurate classification by the Director of the National Fiscal Information.
The application fee is PLN 40, multiplied by the number of goods and services comprising a complex service. The WIS-W application form has been in effect since November 1, 2019. A WIS ruling should be issued without undue delay, within three months of application.
A WIS ruling includes a description of the goods or services, their classification according to CN, PKOB or PKWiU 2015, and the applicable VAT rate. It guarantees that tax authorities cannot impose late payment interest, initiate proceedings for tax crimes or offenses, challenge the VAT rate applied based on the WIS, or obligate the taxpayer to pay tax.
According to Article 16 section 1 point 22 of the Corporate Income Tax Act (and Article 23 section 1 point 19 of the Personal Income Tax Act respectively), the following are not considered tax-deducti
According to Article 16 section 1 point 22 of the Corporate Income Tax Act (and Article 23 section 1 point 19 of the Personal Income Tax Act respectively), the following are not considered tax-deductible expenses:
Contractual penalties and compensation for defects in delivered goods, performed works and services, as well as delays in delivering defect-free goods or delays in removing defects in goods or performed works and services.
The above provision will not apply to paid contractual penalties and compensation if the defect in delivered goods, performed works and services, and delays in delivering defect-free goods or delays in removing defects in goods or performed works and services, arose in connection with a state of epidemic threat or a state of epidemic, announced due to COVID-19.
The bad debt relief is even more beneficial for creditors.
From January 1, 2020, the bad debt relief was introduced into the Personal Income Tax Act and the Corporate Income Tax Act for creditors. Taxpayers can reduce the income constituting the basis for the advance payment by the value of receivables included in revenue that has not been settled or sold, when 90 days have passed from the payment deadline specified on the invoice (bill) or in the contract, until the period in which the receivable was settled or sold (Article 25 section 19 point 1 of the Corporate Income Tax Act, Article 44 section 17 point 1 of the Personal Income Tax Act). The Anti-Crisis Shield 4.0 indicates that in 2020, the right to reduce the income constituting the basis for calculating the advance payment is granted starting from the settlement period in which 30 days have passed from the payment deadline.
This possibility will also be provided for taxpayers who have chosen a simplified form of paying advances for 2020. They will be able to reduce the advance due for the month in which 30 days have passed from the payment deadline:
1) in the case of CIT taxpayers by:
9% of the value of the receivable - in the case of a small taxpayer or 19% of the value of the receivable - in the case of other taxpayers,
2) in the case of PIT taxpayers by:
17% of the value of the receivable - in the case of a taxpayer settling according to the tax scale or
19% of the value of the receivable - in the case of a taxpayer taxed linearly.
If the value of the reduction of the advance due is higher than this advance, then the advance due can be reduced by the un-deducted value for subsequent months.
Note!
The above facilities apply to settlement periods in which the taxpayer incurred negative economic consequences due to COVID-19, as referred to in the COVID-19 Act.
The above changes do not apply to debtors.
CIT, PIT, Shield 4.0
The text outlines changes to Polish tax regulations. Contractual penalties and compensations related to defective goods or services are generally not tax-deductible. However, an exception is made if the defect or delay resulted from the COVID-19 pandemic. Additionally, the "bad debt relief" has become more favorable for creditors. Starting January 1, 2020, creditors can reduce their income tax base by the value of unsettled receivables after a certain period. Initially, this period was 90 days, but it was shortened to 30 days in 2020 due to the Anti-Crisis Shield 4.0, with specific reduction percentages depending on the taxpayer's income tax bracket (CIT or PIT) and size. The reduced period applies to taxpayers experiencing negative economic consequences from COVID-19 and not debtors.
The "Anti-Crisis Shield 4.0" in Poland introduces new regulations concerning the control of entrepreneurs, alongside financial aid measures. Article 53 modifies the Law on Entrepreneurs, allowing for
The "Anti-Crisis Shield 4.0" in Poland introduces new regulations concerning the control of entrepreneurs, alongside financial aid measures. Article 53 modifies the Law on Entrepreneurs, allowing for remote controls with the entrepreneur's consent. This enables authorities to conduct audits via postal service or electronic communication if it streamlines the process or suits the business's nature.
The legislator aims to make controls more flexible, addressing entrepreneurs' concerns about disruptions. Remote audits are applicable when physical presence isn't necessary, documentation can be analyzed remotely, or the remote approach is more efficient.
Tax authorities must still notify entrepreneurs of planned audits at least 7 days prior, as per the Tax Ordinance, unless the entrepreneur consents to a faster audit or specific circumstances allow unannounced checks. The possibility of a remote audit depends entirely on the entrepreneur's consent. Without it, a remote audit cannot occur.
Shield 4.0 - Residence Certificates and Transfer Pricing
6/23/2020
The Anti-Crisis Shield 4.0 introduces facilitations regarding the validity of residency certificates during the COVID-19 state of epidemic threat and epidemic, extending two months after their cancell
The Anti-Crisis Shield 4.0 introduces facilitations regarding the validity of residency certificates during the COVID-19 state of epidemic threat and epidemic, extending two months after their cancellation. A copy of the residency certificate can be used to confirm the taxpayer's residence for tax purposes if its information doesn't raise doubts about its accuracy. For certificates without an expiration date, expiring within the epidemic period, payers can consider them valid throughout the epidemic and two months after. Furthermore, the requirement for the payer to obtain a residency certificate from the taxpayer is also considered fulfilled if the payer possesses a certificate covering 2019 and a statement from the taxpayer confirming the data's current accuracy.
The deadline for submitting information on transfer pricing and declarations regarding local transfer pricing documentation is extended to December 31, 2020, if the original deadline falls between March 31 and September 30, 2020. For deadlines between October 1, 2020, and January 31, 2021, the extension is three months. The deadline for attaching group transfer pricing documentation to the local file is also extended to the end of the third month following the deadline for submitting the local documentation declaration.
Declining profitability, business contraction, or other challenging situations can lead to a loss in the economic value of your assets intended for profit generation. This guide explains how to approa
Declining profitability, business contraction, or other challenging situations can lead to a loss in the economic value of your assets intended for profit generation. This guide explains how to approach such scenarios.
**Why Care?**
Annual asset value verification is a legal requirement under both Polish Accounting Law (Art. 28 UoR, KSR4) and international standards (IAS 36).
**Where to Start?**
While the list of indicators for potential impairment is extensive, it's also open-ended. KSR4 mandates "professional judgment," meaning common sense and experience, which can be subjective.
Begin by reviewing the indicators and assessing if any apply to your situation. Meeting just one indicator necessitates further steps. Some indicators might require in-depth analysis. Investing time or seeking external support at this stage can be beneficial, as it might prevent more costly or labor-intensive procedures later.
Evaluate the indicators that apply based on their time and monetary impact, discarding those with temporary or minor financial consequences. These can be broadly categorized.
**What Does It Entail?**
The process is straightforward:
* **Test:** Remember, only one method needs to yield a value higher than the book value. * **Result:** Ensure the test outcome is properly accounted for to avoid future complications, such as by creating an adjusted depreciation plan.
**Who Is Responsible?**
The management board, typically the finance department, is responsible. The accountant/CFO's role is to ensure these individuals conduct and document the test (e.g., a note signed by management or a more detailed report).
"Market value" requires an appraisal, often performed by an expert or auditor. "Economic value" involves calculating "expected cash flows from the asset group," which can be complex if accounting systems aren't set up for such analyses, potentially requiring auditor assistance.
**Example:**
In Q1 2020, Company A halted production, incurred significant losses, and:
* In Q2 2020, returned to profitability. Here, indicators suggest a temporary situation, even if the full year 2020 results in a loss. * In Q2 2020, losses decreased, but the timeline for profitability recovery was uncertain. The factory was new. Indicators were met, but a market value test would conclude positively if it demonstrated the factory could be sold for more than its book value.
The test for permanent asset impairment.
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Declining profitability, operational cutbacks, or other adverse circumstances can devalue assets intended for profit. This guide outlines the approach to such situations. Annual asset value verification is mandated by both Polish accounting law and international standards (IAS 36). The process begins with reviewing indicators of potential impairment. Professional judgment is required, and even one applicable indicator necessitates further steps. It's advisable to conduct a thorough analysis or seek external expertise early to avoid greater costs later. Evaluate indicators based on their time and monetary impact, discarding those with minor or temporary effects. The core of the process involves testing asset values, where only one method needs to exceed the book value. Proper accounting for the test results is crucial to prevent future issues. Management, particularly the finance department, is responsible for conducting and documenting the test, with the accountant/CFO overseeing this. Market value requires appraisal, while economic value involves complex cash flow calculations, potentially needing auditor assistance. An example illustrates a scenario where production halts and losses occur, but subsequent recovery or sale potential can impact the impairment test outcome.
FINANCIAL REPORTS FOR 2019 – new deadlines resulting from the anti-COVID regulation
6/19/2020
Companies with a calendar fiscal year are obligated to close their 2019 accounting books and prepare their electronic Financial Statement by June 30, 2020, with approval by the Management Board no lat
Companies with a calendar fiscal year are obligated to close their 2019 accounting books and prepare their electronic Financial Statement by June 30, 2020, with approval by the Management Board no later than September 30, 2020. These deadlines are extended due to a Regulation from the Minister of Finance dated March 31, 2020.
Within 15 days of approving the Financial Statement, a complete set of documents must be submitted to the National Court Register (KRS). This includes the e-Financial Statement (XML version, signed by the entire Management Board and the preparer), the Management Board's Report on the Company's Activities (PDF version, signed by at least one Management Board member), and resolutions approving the Financial Statement. Submission can be done via the free Repository of Financial Documents or the paid S24 system.
Crucially, when preparing and approving financial statements, certain important aspects must not be overlooked. If the financial statement shows a loss exceeding the combined statutory capital, reserve capital, and one-third (or half for joint-stock companies) of the share capital, the management must promptly decide on the company's continued existence. Furthermore, if shareholders decide to retain profits from 2018 or 2019 within the company, they may deduct these profits from income within statutory limits, incentivizing profit retention and potential corporate income tax reduction. For multi-person management boards, each member requires an individual electronic signature for the e-Financial Statement.
In light of the COVID-19 pandemic, both preparers and approving bodies should address the current situation in their reports. Post-balance sheet events, future uncertainties, or company breakdowns should be described, especially if the company's ongoing operations are threatened.
The document highlights revised deadlines for financial reporting due to COVID-19, emphasizing the need for timely submission and specific considerations for the pandemic's impact on company operations and financial reporting.
A new version of the anti-crisis shield introduces significant changes for self-employed individuals and those on civil law contracts regarding benefit eligibility. Previously, dual social insurance p
A new version of the anti-crisis shield introduces significant changes for self-employed individuals and those on civil law contracts regarding benefit eligibility. Previously, dual social insurance prevented eligibility for standby benefits. Now, this is permissible, with benefit entitlement solely dependent on a turnover decrease or business suspension after January 31, 2020.
Shield 4.0 offers entrepreneurs new avenues for support. A subsidy for employees not on downtime or reduced hours will be available, covering up to half their wages (capped at 40% of the average monthly salary). This requires a 15% turnover drop over two consecutive months post-January 1, 2020, compared to the previous year, or a 25% drop in any month compared to the preceding one.
The proposed legislation extends the possibility of introducing downtime or reduced working hours (up to 20% reduction, not exceeding 0.5 FTE) for up to 12 months. This is contingent on a significant increase in the wage fund burden, defined as a 5% rise in the ratio of wage costs (including employer social security contributions) to sales revenue in a given month compared to the previous one, starting from March 1, 2020. Tax changes include accelerated "bad debt relief," allowing deductions after 30 days of non-payment for businesses affected by the pandemic, and the deductibility of penalties and compensation paid to contractors due to COVID-19. Tax scheme reporting deadlines are also extended. A new simplified restructuring procedure is introduced for struggling businesses.
The draft also proposes legal regulation for "credit holidays," allowing a 3-month suspension of loan installments for those who lost employment or primary income after March 13, 2020, extending the loan term.
These changes are part of a broader government package. Notably, the new shield does not include further exemptions from ZUS contributions. The bill is scheduled for parliamentary debate on May 27.
IT Industry – 50% Revenue Cost Deduction. What conditions must be met to benefit?
5/26/2020
To qualify for preferential revenue costs, the work performed must result in a creation. This creation must be an original work, expressed in any form, regardless of its value or purpose. A work is pr
To qualify for preferential revenue costs, the work performed must result in a creation. This creation must be an original work, expressed in any form, regardless of its value or purpose. A work is protected by copyright from its fixation, even if incomplete, meaning a computer program doesn't need to be finished to be considered a work. The work must also have a material form, not just be an idea.
Furthermore, the creator must own or be able to dispose of copyrights. While typically creators own copyrights, for computer programs created by employees, copyright ownership generally transfers to the employer unless otherwise stipulated in the contract. To claim the 50% revenue cost deduction, the employment agreement should specify that the employee initially holds the copyrights, and the employer acquires them upon acceptance of the work.
The contract must clearly indicate a portion of the remuneration is for the use or disposal of copyrights. While there's no uniform rule on how to specify author fees (percentage or fixed amount), tax authorities emphasize a case-by-case approach, considering the employee's actual involvement and the work's true value. This preferential tax treatment applies to employees and those engaged through civil law contracts.
Although not legally mandated, tax authorities often require documentation of creative work to determine the actual output and remuneration value. Employers applying this deduction must be able to prove which works were created by employees. The annual limit for these author's revenue costs is PLN 85,528. Costs exceeding this limit can be claimed if properly documented.
50% revenue costs, IT Industry, PIT
Contact us at: agnieszka.drozdz-wilk@moorepolska.pl
If you want peace, prepare for crisis – interview with President Piotr Witek in Puls Biznesu
5/21/2020
Crisis, Piotr Witek, interview
Piotr Witek, in an interview discussing the current crisis, emphasizes the multifaceted nature of the challenges facing society. He highlights the economic instability,
Crisis, Piotr Witek, interview
Piotr Witek, in an interview discussing the current crisis, emphasizes the multifaceted nature of the challenges facing society. He highlights the economic instability, marked by inflation and supply chain disruptions, as a significant concern. Witek points to geopolitical tensions as another critical factor exacerbating the situation, creating an atmosphere of uncertainty and risk. Furthermore, he addresses the social impact of the crisis, noting increased anxieties, social stratification, and the strain on public services. Witek advocates for a collaborative approach to overcome these difficulties, stressing the importance of government intervention, business adaptation, and individual resilience. He calls for strategic planning and investment in key sectors to foster long-term recovery and stability. The interview underscores the need for adaptability and innovation in navigating the complexities of the present economic and social landscape. Witek's perspective suggests that a unified and proactive response is crucial to mitigate the adverse effects of the ongoing crisis and build a more robust future.
Amendment of PIT, CIT, VAT and Tax Ordinance Acts to reduce the number of taxpayer-tax authority disputes – are changes awaiting us?
5/13/2020
To address taxpayers, on May 6, 2020, the Sejm adopted an amendment to the PIT, CIT, VAT, and Tax Ordinance acts. The government claims these new regulations will simplify taxpayers' obligations, redu
To address taxpayers, on May 6, 2020, the Sejm adopted an amendment to the PIT, CIT, VAT, and Tax Ordinance acts. The government claims these new regulations will simplify taxpayers' obligations, reducing disputes between taxpayers and tax authorities.
A key change in the amended CIT and VAT draft is the exemption from the requirement to check the white list for bank accounts. Currently, payments to accounts not on the list exceeding PLN 15,000 are not deductible expenses. Following the planned changes, when using split payment, amounts paid to non-listed accounts will be deductible. The amendment also allows for retroactive application of sanctions relief in PIT and CIT for payments made since January 1, 2020.
The project also facilitates the non-application of joint and several liability rules for payments made to accounts not on the VAT taxpayer list, but to bank accounts or cooperative savings and credit union accounts used for receivables settlement, payment collection on behalf of sellers, or internal operations, provided the bank or credit union informs the taxpayer about the account's nature. Joint and several liability will also be excluded if payment is made via split payment or relates to intra-community acquisitions, imports, or reverse-charge transactions.
Furthermore, the deadline for notifying the tax office about payments to non-listed accounts (ZAWR-NR) will be extended from 3 to 7 days (14 days during the epidemic). The responsible tax office will also change, shifting from the invoice issuer's tax office to the taxpayer's tax office. A single notification will suffice for multiple payments to the same non-listed account. These changes, passed by the Sejm and sent to the Senate, are planned to take effect on July 1.
In response to the COVID-19 epidemic, the Polish government announced the possibility of filing tax returns later. While the general deadline for annual PIT returns is April 30th, filing between April
In response to the COVID-19 epidemic, the Polish government announced the possibility of filing tax returns later. While the general deadline for annual PIT returns is April 30th, filing between April 30th and May 31st will be considered an act of remorse, avoiding penalties for late submission. A government regulation exempts taxpayers from penalties for filing PIT returns and settling their tax obligations by June 1st, 2020. This applies to PIT-37, PIT-36, PIT-36S, PIT-36L, PIT-36LS, PIT-38, and PIT-39 forms.
For those using the "Twój e-PIT" service for PIT-37 and PIT-38, automatically prepared returns will be accepted if no action is taken by April 30th. After this date, only corrections will be possible. Importantly, filing after the April 30th deadline does not preclude taxpayers from utilizing tax reliefs and deductions, including joint filing with a spouse or as a single parent, internet relief, thermomodernization relief, child relief, rehabilitation relief, and the IP BOX preferential tax rate for intellectual property income. The government encourages timely filing despite the extended grace period.
In summary, Poland has extended the filing period for certain tax returns until June 1st, 2020, without penalty due to COVID-19. This allows taxpayers to still claim various tax reliefs and deductions, even if they file after the original April 30th deadline. The "Twój e-PIT" service will automatically accept filings for PIT-37 and PIT-38 if no action is taken by April 30th, but corrections will be possible later. Despite these accommodations, timely filing is still encouraged.
NET CASH STRATA – A NEW CONCEPT FOR FINANCIAL SUPPORT PURPOSES
4/28/2020
As professional accountants, we face a new challenge: defining net cash loss. This is crucial as it determines the percentage of PFR aid that may be forgiven. This is important for every company, even
As professional accountants, we face a new challenge: defining net cash loss. This is crucial as it determines the percentage of PFR aid that may be forgiven. This is important for every company, even if the forgiveness occurs months later. Whether you are an SME or a large corporation, this problem awaits if you choose to accept the eagerly awaited aid, which is essential for many businesses to recover from the crisis.
According to PFR guidelines (pages 14, 19, and 21), cash loss is likely the transition from net profit to net cash flow. Depreciation costs are excluded as they are not cash flows, along with provisions, write-downs, and results from asset revaluation or sale (one-off activities). For companies in sectors with significant invested assets, like infrastructure companies, financing costs and asset depreciation can be included.
The description is imprecise, especially regarding full cash accounting. However, it necessitates detailed analysis and future projections. For large companies, liquidity financing is granted based on a projected liquidity gap caused by COVID-19, up to PLN 1 billion. SMEs with full cash accounting define sales loss as net sales loss in the income statement, excluding depreciation, provisions, write-downs, or asset revaluation/sale results. Large companies' loss assessment is based on estimated cash sales loss, excluding depreciation, provisions, write-downs, or asset revaluation/sale results. In justified cases, financing costs and asset depreciation can be included for large companies, particularly infrastructure firms.
Keywords: loss, cash loss, net cash loss, financial support.
Anti-crisis Shield 2.0. – Solutions for Entrepreneurs
4/23/2020
1. Support for Entrepreneurs from the Industrial Development Agency (ARP S.A.)
Entrepreneurs facing financial difficulties due to the epidemic threat can apply for support from ARP S.A. This support
1. Support for Entrepreneurs from the Industrial Development Agency (ARP S.A.)
Entrepreneurs facing financial difficulties due to the epidemic threat can apply for support from ARP S.A. This support may be provided in the form of loans, guarantees, leasing, or other business financing instruments on market terms. Other forms of repayable debt financing are also possible if agreed upon by the parties.
2. ZUS Contribution Exemptions for Employers with 10-49 Insured Persons
Under the Anti-Crisis Shield Act, employers with 10 to 49 insured persons can apply for an exemption from paying social and health insurance contributions, as well as contributions to the Labor Fund, Solidarity Fund, Guaranteed Employee Benefits Fund, or Pension Bridge Fund for the period of March 1, 2020, to May 31, 2020. A 50% exemption is available for employers with 10-49 insured persons, while those with fewer than 10 insured persons can receive a full exemption. Eligibility depends on their registration status as an employer before specific dates in early 2020.
3. Waiver of Late Payment Interest
The Anti-Crisis Shield Act allows the Social Insurance Institution (ZUS) to waive late payment interest on contributions due for periods after December 31, 2019, upon the debtor's request, for economic reasons related to COVID-19.
4. Job Protection Subsidies from the District Labor Office
An amendment to the Anti-Crisis Shield Act clarifies that entrepreneurs receiving job protection subsidies are obligated to maintain employment for the duration of the subsidy. However, they are not required to maintain employment for three months after the subsidy period ends.
5. Operating Cost Subsidies
The Anti-Crisis Shield Act has been amended to state that entrepreneurs receiving subsidies for operating costs must continue their business activities for the period the subsidy was granted. They are not obligated to continue for three months after the subsidy period concludes.
6. Labor Fund Loans up to PLN 5,000
A change in the Anti-Crisis Shield Act regarding Labor Fund loans up to PLN 5,000 states that these loans can be written off if the micro-entrepreneur continues their business for three months after receiving the loan. Maintaining employment is not a requirement for loan forgiveness, only the continuation of business operations.
7. Standstill Benefit - Extended Eligibility and Conditions
The standstill benefit can now be received up to three times. For individuals running non-agricultural businesses, the benefit amounts to 80% of the 2020 minimum wage, capped at three disbursements. For sole proprietors, the benefit is 50% of the 2020 minimum wage, also capped at three disbursements.
8. Standstill Benefits for Business Owners Regardless of Revenue
An amendment to the Anti-Crisis Shield Act removes the previous revenue threshold of PLN 15,595.74 for business owners applying for standstill benefits. They are now eligible regardless of their income level.
9. Standstill Benefits for Contract Workers with Contracts Concluded Before April 1, 2020
The eligibility for standstill benefits has been extended to contract workers whose contracts were concluded before April 1, 2020, rather than the previous deadline of February 1, 2020.
10. Reduced Working Hours for Employees
The Anti-Crisis Shield Act has been amended to allow employers to reduce employee working hours by a maximum of 20%, but not below half-time employment. The employee's remuneration must not fall below the minimum wage, taking into account their pre-reduction working hours. Benefits will be granted for three months from the month of application.
Entrepreneurs, solutions, solutions for entrepreneurs, Anti-Crisis Shield 2.0. Contact: agnieszka.drozdz-wilk@moorepolska.pl
Entrepreneurs facing financial hardship due to the epidemic can seek support from the Industrial Development Agency (ARP S.A.) through loans, guarantees, or leasing. The Anti-Crisis Shield Act offers various relief measures, including ZUS contribution exemptions for businesses with 10-49 employees (full exemption for those with fewer than 10) and a waiver of late payment interest. Job protection and operating cost subsidies are available, with revised obligations regarding employment and business continuity. Micro-enterprises can receive up to PLN 5,000 from the Labor Fund, with loan forgiveness contingent on continuing business for three months. The standstill benefit, aimed at entrepreneurs and contract workers, has been extended and simplified, with eligibility criteria adjusted for contract conclusion dates and revenue thresholds removed. Employee working hours can be reduced by up to 20%, provided minimum wage standards are met. These measures are designed to support businesses during the economic impact of the pandemic.
20 ways to react financially to what's happening in the market
3/26/2020
Don't panic, but acknowledge the serious situation and its uncertain future. While economic activity is slowly resuming in China outside of quarantined areas, maintain a critical perspective on media
Don't panic, but acknowledge the serious situation and its uncertain future. While economic activity is slowly resuming in China outside of quarantined areas, maintain a critical perspective on media reports, remembering that expert predictions are often inaccurate. Calmly analyze your business without making rash decisions, as your clients are watching. Utilize existing resources as needed.
Review fixed costs, cutting non-essential expenses like subscriptions or excessive marketing, but carefully consider the impact before eliminating services entirely. Renegotiate contracts for rent and services if your transaction volume decreases significantly. Analyze variable costs and identify alternative suppliers. Reduce inventory by selling surplus items to generate cash flow. Consider selling or leasing out unnecessary assets to improve liquidity.
Explore options for loans and deferring payments. Communicate proactively with your bank about your situation to improve negotiation leverage. Optimize leases by postponing payments or transferring agreements. Consider sale-leaseback options if financial difficulties arise. Defer all possible payments, including taxes and supplier debts, until your business recovers.
Maintain open communication with suppliers and clients to build trust and keep them informed about your plans. Monitor competitors and larger companies for innovative solutions. Avoid expensive financing options like credit cards and factoring. Identify and prioritize key resources, considering outsourcing non-essential functions.
Analyze how the crisis will impact your transaction volume and adjust your organization accordingly. Explore options for employees, such as furloughs or using accrued vacation time. Consider reorganization or reduced salaries, in consultation with your employees. Collaborate with other businesses to share resources and employees. Consider how you can support your customers, such as payment deferrals or equipment rentals. Pay attention to government support programs as the EU will financially assist countries in response to the coronavirus pandemic and companies may benefit from this support.
We hope you, your families, and employees are healthy during this new reality caused by the COVID-19 coronavirus. This message provides a brief update and guidance to help y
Dear Clients and Friends,
We hope you, your families, and employees are healthy during this new reality caused by the COVID-19 coronavirus. This message provides a brief update and guidance to help you consider next steps for your company or organization.
Please contact us with any questions. We are available and happy to discuss your financial situation and strategies via Bitrix, Zoom, or phone (this service is offered free of charge).
This crisis calls for everyone to make their best effort. We are proud of our team's dedication in helping our clients over the past two weeks. We are pleased to assist and support you and are ready to continue this challenge.
Remember that leadership and compassion are as contagious as panic and despair. We hope you maintain faith and hope for your family, team, and company.
Attached is a sample letter to the Head of the Tax Office, which you can use if needed to defer tax payments due to the financial situation caused by the COVID-19 pandemic.
Below you will also find tips to consider in light of the epidemic.
COVID-19, SARS-COV-2, Support in times of crisis
Summary:
The message is addressed to clients and friends, expressing concern for their health and well-being during the COVID-19 pandemic. It offers free consultations via various platforms to discuss their financial situations and strategize next steps. The senders emphasize the importance of leadership and compassion during the crisis, while praising the team's dedication to assisting clients. A sample letter for requesting tax payment deferral due to the pandemic's financial impact is attached. Finally, some valuable instructions are provided below for consideration amidst the epidemic. The document provides support during these times and is related to COVID-19 and SARS-COV-2.
Public authorities are undertaking preventive measures like quarantine and event cancellations to minimize the spread of COVID-19, causing economic disruptions such as production halts and hampered in
Public authorities are undertaking preventive measures like quarantine and event cancellations to minimize the spread of COVID-19, causing economic disruptions such as production halts and hampered international business. Consumer behavior is shifting, significantly reducing demand in sectors like hospitality and tourism.
A support package for businesses is being developed, outlined in the March 21, 2020 draft amendment to the act on special solutions related to preventing, counteracting, and combating COVID-19, and other related laws.
Proposed tax solutions include:
* Empowering municipalities to introduce property tax exemptions for businesses affected by COVID-19 for part of 2020, and to extend property tax payment deadlines until September 30, 2020. * Exempting loan agreements from the tax on civil law transactions (PCC). * Waiving extension fees for installment payments and deferred tax payments. * Suspending ongoing tax proceedings and audits. * Extending the deadline for issuing individual tax interpretations by one month. * Allowing taxpayers who suffered losses in 2020 due to COVID-19 to reduce their 2019 income by the amount of the loss (up to 5 million PLN), provided their 2020 revenue is at least 50% lower than their 2019 revenue. * Exempting income from guarantee support and interest subsidies received in 2020 from income tax. * Enabling PIT taxpayers to deduct donations made in 2020 for COVID-19 prevention. * Postponing the deadline for transferring advance payments for income tax from employment for March and April to June 1, 2020, and the tax on income from buildings for March-May 2020 to July 20, 2020. * Exempting taxpayers from provisions regarding "bad debts". * Allowing small PIT taxpayers to opt out of simplified advance payment rules for March-May 2020.
Similar solutions are proposed for corporate income tax (CIT) payers regarding loss settlement, tax exemptions, donation deductions, building income tax deferral, bad debt provisions, and simplified advance payments.
The deadline for submitting the new JPK_VAT file (VAT declaration with records) is postponed to July 1, 2020, for all taxpayers, although they can voluntarily submit it in the new form for April 2020.
Employee Capital Plans. Will employees earn less net? Part 1
3/18/2020
This article discusses the tax implications of Employee Capital Plans (PPK) in Poland, focusing on contributions, financing entities, and withdrawals. Employer-funded contributions, both mandatory and
This article discusses the tax implications of Employee Capital Plans (PPK) in Poland, focusing on contributions, financing entities, and withdrawals. Employer-funded contributions, both mandatory and voluntary, are considered taxable income for the employee and subject to standard income tax. However, government subsidies, including the initial welcome bonus of 250 PLN and annual payments of 240 PLN, are tax-exempt. Employee contributions are deducted from their after-tax salary.
An example illustrates how PPK contributions affect net pay. Although employees contribute 2% of their gross salary, their net pay decreases by over 3% due to the TEE (Taxed, Exempt, Exempt) model, where employer contributions are taxed upfront. This has led to calls for "grossing up" employer contributions to offset the impact on net pay, which employers resist, arguing it would unfairly shift the financial burden entirely to them. Another point of contention is that bonuses and rewards are included in the gross salary calculation for PPK contributions. While the TEE system results in immediate tax on contributions, future income from withdrawals is tax-exempt. Some PPK participants are skeptical about this arrangement, though government subsidies partially compensate for the lack of upfront tax benefits.
We are slowly closing and settling the year 2019, a year that REWIT will primarily remember as the 25th anniversary of its existence. It became clear how connected we are with Gdańsk
My dear friends,
We are slowly closing and settling the year 2019, a year that REWIT will primarily remember as the 25th anniversary of its existence. It became clear how connected we are with Gdańsk and Pomerania. A quarter of a century is a long time – we have survived various trials and fulfilled many dreams and aspirations.
The founder of the company, my mother – Lucyna Witek – probably did not anticipate that after 25 years we would achieve such success: over 500 clients annually, over 12.6 million PLN in consolidated revenues, 8 offices in Poland, 140 employees, 14th position on the market in the ranking of all audit firms, high growth dynamics. Today we are a medium-sized audit firm, providing a wide range of services to our clients.
How do we assess these 25 years? Certainly as a time of successes, challenges, and constant changes. We have made many mistakes, gained many strong experiences, searched and made further attempts. However, these experiences are our wealth. They guarantee that we approach our clients' matters with respect and understanding. In 2019, which will be recorded with almost 10% revenue growth in the entire REWIT group, we tried to start the process of standardization and change of the company to better respond to the changing needs of the market.
The year 2019 was also marked by numerous challenges for us and our clients, mainly changes in tax law, introducing even greater uncertainty among our clients. We strive to support you in tax, reporting, and business matters.
We want to be an organization that supports medium-sized businesses in their development, we want to be partners who share experiences and best practices. We also want to create a good workplace for the development of all employees and collaborators.
Thank you to all those who have trusted us. Thank you to all members of the "REWIT family": employees and partners who support our business with their work, development and empathy. Finally, thank you to our families for showing understanding when we happen to put business above other needs.
The year 2020 is already underway. We know that it will be a very busy period. We have new ambitious goals and challenges ahead of us this year. We hope they will open doors to new international development prospects in the next decade.
REWIT is celebrating its 25th anniversary, marking a period of substantial growth and evolution from a small firm to a mid-sized audit organization with 8 offices, 140 employees, and over 500 clients, achieving significant revenue milestones and ranking among the top audit firms in Poland. The company acknowledges the challenges and successes of the past, emphasizing its commitment to understanding and supporting its clients through fluctuating market conditions and tax law changes. A key focus is on team building, providing expert advisory services, and fostering a supportive work environment. REWIT aims to be a partner in the growth of medium-sized businesses, sharing best practices and creating opportunities for employee development while expressing gratitude to clients, employees, partners, and families for their trust and support. The company anticipates a busy and ambitious year ahead, focusing on international expansion and continued organizational development.
Effective January 1, 2020, Article 61b § 1 of the Tax Ordinance mandates that payments for Personal Income Tax (PIT), Corporate Income Tax (CIT), Value Added Tax (VAT), and non-tax budgetary dues be m
Effective January 1, 2020, Article 61b § 1 of the Tax Ordinance mandates that payments for Personal Income Tax (PIT), Corporate Income Tax (CIT), Value Added Tax (VAT), and non-tax budgetary dues be made to the tax office using an individual tax account. This individual tax account is referred to as a "mikrorachunek podatkowy." Tax refunds will continue to be processed under the existing rules.
Taxpayers can generate and verify their individual tax account using an online generator or by visiting a tax office, providing either their PESEL (for individuals) or NIP (for businesses). The account consists of 26 characters, with the digits 10100071222 followed by the taxpayer's PESEL or NIP in positions 3 and onward.
The existing tax office accounts for PIT, CIT, and VAT payments will remain active until December 31, 2019. After this date, all such payments must be made to the taxpayer's "mikrorachunek podatkowy." Other taxes should still be paid using the previous methods.
In summary, Poland is introducing a new system using individual tax accounts ("mikrorachunek podatkowy") for paying PIT, CIT, and VAT, starting January 1, 2020. Taxpayers must use these accounts instead of the old tax office accounts for these specific taxes. The account number is easily generated using an online tool or by visiting a tax office, using either PESEL or NIP. This new system aims to streamline tax payments. Payments for other taxes will still be made as before. Existing tax office accounts for PIT, CIT, and VAT will be deactivated after December 31, 2019.
Moore Polska Academy invites you to explore their training offer. The courses focused on:
1. Tax Year-End Closing 2019 and Changes in 2020, covering significant VAT
This event has already concluded.
Moore Polska Academy invites you to explore their training offer. The courses focused on:
1. Tax Year-End Closing 2019 and Changes in 2020, covering significant VAT, CIT, and PIT changes. VAT updates include new split payment rules, the VAT taxpayer whitelist, JPK_VAT file integration, a new VAT rate matrix, call-off stock regulations, and changes to WDT transaction documentation. CIT and PIT changes involve one-time loss settlement, a reduced CIT rate, exit tax, commercial property tax, vehicle accounting rules, WHT tax collection, transfer pricing changes, and a reduced PIT rate. The introduction of mandatory disclosure rules (MDR) for tax schemes is also highlighted.
2. Accounting Year-End Closing focusing on the practical aspects of balance sheet closing for 2019. Key areas include legal bases for preparing and auditing financial statements (Accounting Act, International Accounting Standards, MSSF 16), responsibility for financial statement preparation, electronic reporting formats, financial instrument classification and valuation, changes in accounting policies, asset impairment, deferred tax, and non-financial reporting.
Each training session is 6 hours long, followed by a Q&A.
The cost is 350 PLN net per person/day or 650 PLN net per person for 2 days. Discounts apply for groups of two or more. The price includes coffee breaks and materials. Registration is on a first-come, first-served basis. Contact details are provided for inquiries. The trainings took place in Gdańsk (November 2019), Bielsko-Biała (December 2019) and Warsaw (November and December 2019).
Building a Great Family Company – An Interview with Piotr Witek, President of REWIT
10/12/2019
Building a great family company, Family company, Piotr Witek, interview
An interview with Piotr Witek focuses on the process of building a successful family business. The discussion likely explores k
Building a great family company, Family company, Piotr Witek, interview
An interview with Piotr Witek focuses on the process of building a successful family business. The discussion likely explores key aspects such as establishing a clear vision and mission that transcends generations, maintaining strong family relationships while navigating business decisions, and implementing effective governance structures to ensure long-term stability. Witek may share his personal experiences, challenges overcome, and strategies employed to create a thriving business that balances family values with professional growth. The interview probably delves into the importance of succession planning, cultivating a strong company culture, and adapting to market changes while preserving the legacy of the family enterprise. Insights on attracting and retaining talent, fostering innovation, and building a robust brand reputation within the family business context might also be covered.
The amendment introduces a new tax scale effective January 1, 2020, applicable to all taxpayers with income taxed under general rules, including pensioners and entrepreneurs not using linear tax or a
The amendment introduces a new tax scale effective January 1, 2020, applicable to all taxpayers with income taxed under general rules, including pensioners and entrepreneurs not using linear tax or a lump sum. For the period October-December 2019, a transitional tax rate of 17.75% is applied. When calculating advance tax payments for income earned from October 1 to December 31, 2019, a 17% rate is used instead of 18%, with a tax-reducing amount of 525.12 PLN. Taxpayers can request a 17.75% rate instead.
For those calculating advances as self-employed individuals, the tax-reducing amount from October 1, 2019, is 548.30 PLN, using the 17.75% rate. This applies not only to entrepreneurs but also to income from lease or special agricultural production if books are kept.
The tax-reducing amount for the new tax scale varies depending on the tax base, ranging from 1360 PLN to a reduced amount for income exceeding certain thresholds. An increased tax-deductible expense will be applied.The law also increases monthly and annual employee costs. These changes benefit over 25 million Poles, reducing the tax wedge and lowering labor costs.
A worker earning the minimum wage (2250 PLN) will gain 472 PLN annually, while someone earning the average wage (4765 PLN) will gain 732 PLN.
1. A taxpayer receiving funds on their 16th birthday who has declared exemption from taxation is eligible for the exemption on income paid that day if they are under 26. The exemption applies to incom
1. A taxpayer receiving funds on their 16th birthday who has declared exemption from taxation is eligible for the exemption on income paid that day if they are under 26. The exemption applies to income received until the age of 26, including income received on the 26th birthday.
2. The Ministry of Finance is planning to amend the PIT-11 form. Work on the draft regulation is in progress, and the draft will be available on the Government Legislation Centre's Public Information Bulletin when it is submitted for consultations and opinions.
3a. The income limit for tax exemption (PLN 35,636.67 in 2019 and PLN 85,582 from 2020) refers to gross income, not reduced by revenue-generating expenses or deductions from income. However, income subject to lump-sum tax, tax-exempt income, and income with tax collection waived are excluded from this limit.
3b. When calculating payroll with both salary and ZUS benefits, the tax advance for benefits is calculated without deducting revenue-generating expenses.
3c. If the exemption limit is exceeded during a tax month, the excess is taxed from the month the exemption eligibility is lost.
3d. If an individual turns 26 during the year, income received up to their 26th birthday is tax-exempt, while income received afterwards is taxed.
3e. Exceeding both the exemption limit and the tax threshold are independent events.
3f. If an employee under 26 works for multiple employers and submits exemption declarations to all, but collectively exceeds the limit, they must calculate the tax due in their tax return. The amount of social security and health insurance contributions deductible from income and tax is determined based on the proportion of exempt income to total income, and information will be included in tax return brochures.
4a. A payer can deduct revenue-generating expenses from income not exempt due to exceeding the limit.
4b. Restrictions mentioned in Art. 22 para. 3b and para. 9aa of the PIT Act also apply when collecting tax advances.
4c. Art. 23 para. 1 point 31 of the PIT Act does not preclude deducting employee wages exempt from taxation as business expenses for the employer because the employee's income is exempt, not the employer's.
These explanations are based on the response of the Undersecretary of State in the Ministry of Finance, Mr. Tadeusz Kościński, on September 5, 2019, to the letter of the Tax Council of the Lewiatan Confederation of August 23, 2019 and do not constitute an official interpretation of tax law.
## Summary
The Polish Ministry of Finance clarified several aspects of the tax exemption for individuals under 26. The exemption applies to income received until the 26th birthday, even if received on that day. The Ministry is planning amendments to the PIT-11 form. The income limit for the exemption is gross income, excluding income subject to lump-sum tax, tax-exempt income, and income with waived tax collection. Tax advances on ZUS benefits are calculated without deducting revenue-generating expenses. If the exemption limit is exceeded, the excess is taxed from that month onwards. Individuals turning 26 during the year are only exempt up to their birthday. The exemption limit operates independently of the tax threshold. For employees working for multiple employers and exceeding the collective exemption limit, the deductible social security and health insurance contributions are determined proportionally. Payers can deduct revenue-generating expenses from income not exempt due to exceeding the limit, and certain restrictions apply. The exemption does not preclude deducting exempt employee wages as business expenses for the employer.
The "white list" of taxpayers is a register of VAT payers maintained by the Head of the Tax Office, encompassing both entities registered for VAT, including those whose registration was restored, and
The "white list" of taxpayers is a register of VAT payers maintained by the Head of the Tax Office, encompassing both entities registered for VAT, including those whose registration was restored, and those not registered or removed from the VAT registry. Accessible via the Public Information Bulletin on the Ministry of Finance's website and the Central Registration and Information on Business, it allows verification of a subject's status for any day within the preceding five years. This unified database contains extended information, including bank account numbers listed in identification or update forms, aiming to simplify counterparty verification.
The register includes company names, tax identification numbers, VAT status, REGON and PESEL numbers, KRS numbers, addresses, details of representatives, registration dates, legal basis for registration/deregistration, and bank account numbers. Taxpayers should verify that the recipient's bank account matches the one listed before making payments. The list is updated daily on business days. Verifying counterparties is crucial for VAT deduction, and the list aids in demonstrating due diligence.
From January 2020, failure to verify the white list carries consequences under income tax laws. Payments to accounts not listed could result in joint liability for the supplier's unpaid VAT and the inability to deduct the expense for income tax purposes for transactions exceeding PLN 15,000. A notification within 3 days of payment to an unlisted account can avoid these consequences. A new provision introduces joint and several liability for VAT arrears if payments are made to unlisted accounts.
The "Zero PIT" for young people applies to income from employment contracts, service relationships, contract work, cooperative employment relationships, and contracts for specific work received by tax
The "Zero PIT" for young people applies to income from employment contracts, service relationships, contract work, cooperative employment relationships, and contracts for specific work received by taxpayers up to 26 years of age.
This tax exemption applies to income not exceeding PLN 85,528 in a tax year. However, as the exemption was effective from August 1, 2019, the limit for 2019 was PLN 35,636.67. Income below these limits is exempt from PIT. The exemption applies regardless of the number of contracts or payers. Only income exceeding the limit is subject to taxation.
The regulations came into effect on August 1, 2019, and apply to income earned from that date. Salary for July paid in August is eligible for the exemption. In 2019, the exemption could be applied in two ways. A higher net salary was possible if the young taxpayer submitted a statement to the employer confirming their income was fully exempt from PIT. Otherwise, the tax refund could be claimed in the annual tax return. From January 1, 2020, the exemption is automatically applied when calculating tax advances, without needing a statement.
The PIT exemption for young people does not exempt them from paying social security (ZUS) and health insurance (NFZ) contributions.
The Polish government is processing an amendment to the VAT law concerning the 0% VAT rate for intra-Community transactions, chain transactions, and call-off stock arrangements. These changes introduc
The Polish government is processing an amendment to the VAT law concerning the 0% VAT rate for intra-Community transactions, chain transactions, and call-off stock arrangements. These changes introduce material conditions for applying the 0% VAT rate on intra-Community supplies, focusing on the buyer's valid VAT identification number and the accurate submission of summary information by the supplier.
Effective January 1, 2020, Council Implementing Regulation (EU) 2018/1912 mandates proper proof of goods' export from one member state to another to qualify for the 0% rate. For instance, if a third party handles the transport, the seller must possess at least two consistent documents, such as a CMR and a carrier's invoice, issued by independent entities unrelated to the buyer and seller.
Regarding chain transactions, the concept of an intermediary entity will be introduced, allowing the attribution of goods' dispatch or transport to deliveries made to that entity, which is crucial for determining the reporting obligations of each party involved. The new regulations replace existing rules on consignment warehouses with new procedures for call-off stock, where goods are intended for a specific recipient. Goods stored in a call-off stock exceeding 12 months without being retrieved will trigger a tax liability for the supplier. The changes will take effect on January 1, 2020.
Employee Capital Plans. Will employees earn less net? Part 1
7/20/2019
The text discusses the tax implications of Employee Capital Plans (PPK) in Poland, focusing on contributions made by employers, the state, and employees. Employer-funded contributions are considered t
The text discusses the tax implications of Employee Capital Plans (PPK) in Poland, focusing on contributions made by employers, the state, and employees. Employer-funded contributions are considered taxable income, subject to general income tax rules. State contributions, including the welcome bonus and annual top-ups, are tax-exempt. Employee contributions are deducted from net salary, meaning they are made after income tax has been applied.
An example illustrates how PPK contributions affect an employee's net pay. Even though the basic contribution is 2% of gross salary, the net salary decreases by over 3% due to the taxation model where the employer's contribution is taxed. This leads to calls for employers to "gross up" salaries to compensate for the employee contributions. Employers are reluctant to do so, arguing that it would place the entire financial burden of PPK on them, contrary to the law's intention of shared responsibility. The calculation of the PPK contribution base includes bonuses and awards, which adds to the financial impact on employees.
PPK, along with other third-pillar pension schemes, operates under a TEE (taxed, exempt, exempt) model, where contributions are made from taxed income, but future payouts are tax-free. While the lack of immediate tax benefits raises concerns among some, state subsidies partially offset this. The article concludes with an invitation to contact the author for more information.
The Social Insurance Institution (ZUS) announced on June 28, 2019, a call for proposals for co-financing investment and advisory projects aimed at improving workplace safety and hygiene, reducing acci
The Social Insurance Institution (ZUS) announced on June 28, 2019, a call for proposals for co-financing investment and advisory projects aimed at improving workplace safety and hygiene, reducing accident risks, and mitigating harmful risk factors. Micro, small, medium, and large enterprises are eligible to apply, provided they meet specific criteria such as not being in arrears with social security and health insurance contributions, not being in a state of bankruptcy or liquidation, and not having received ZUS co-financing within the past three years.
The level of co-financing varies depending on the type of enterprise. The application period runs from July 15 to August 16, 2019. Eligible investments include purchasing and installing safety guards, protective devices, signaling systems, soundproofing, air purification systems, ventilation systems, equipment for work at height safety, and devices to reduce musculoskeletal strain. Also, the purchase of personal protective equipment is eligible for companies with up to 49 employees.
Preparing the application requires careful attention to detail, as it undergoes formal and merit-based assessment based on criteria outlined in the competition regulations. Ensuring the documentation is complete and achieves a favorable assessment is crucial for securing funding. Seeking assistance from specialists in labor and occupational health and safety is recommended to enhance the application's quality and increase the chances of approval.
From July 1, 2019, for withholding tax, if payments to a single entity exceed PLN 2 million, the possibility of: not collecting tax based on a relevant double taxation treaty, applying exemptions, or
From July 1, 2019, for withholding tax, if payments to a single entity exceed PLN 2 million, the possibility of: not collecting tax based on a relevant double taxation treaty, applying exemptions, or applying rates resulting from special provisions or double taxation treaties is excluded.
The above may not apply if the payer submits a statement that: 1) it possesses documents required by tax law for applying a tax rate, exemption, or non-collection resulting from special provisions or double taxation treaties, 2) after verification, it has no knowledge justifying the assumption that circumstances exist precluding the application of the tax rate, exemption, or non-collection resulting from special provisions or double taxation treaties.
The declaration should be signed by the head of the unit (members of the management board). The possibility of submitting such a declaration by a proxy is explicitly excluded.
At the same time, Article 56d was introduced to the Fiscal Penal Code, providing for fiscal criminal liability for misrepresentation (concealment of the truth) in the payer's declaration (fine and imprisonment).
Therefore, in principle, criminal liability for providing false data in these declarations rests with the members of the company's management board.
If you are interested in verifying the correctness of the procedures used in your company concerning withholding tax, please contact us.
Since July 1, 2019, Polish withholding tax regulations stipulate that payments exceeding PLN 2 million to a single entity are subject to standard tax collection, negating the use of double taxation treaties, exemptions, or special rates, unless the payer submits a formal statement. This statement confirms the possession of requisite documentation and the absence of knowledge suggesting ineligibility for treaty benefits or exemptions. Crucially, only the head of the unit or members of the management board can sign this declaration, excluding proxies.
Moreover, the Fiscal Penal Code now imposes criminal liability, including fines and imprisonment, for misrepresentation in this statement, primarily holding company management board members accountable. This underscores the importance of rigorous due diligence and accurate reporting. Companies are encouraged to review their withholding tax procedures to ensure compliance and avoid potential penalties. Expert assistance is available to assess and rectify any procedural deficiencies.
Withholding tax exemption with a so-called exemption application opinion
6/19/2019
We remind you that from July 1, 2019, Article 26, paragraph 2e of the Corporate Income Tax Act will apply to payments of dividends and other income (profits) from participation in profits of legal ent
We remind you that from July 1, 2019, Article 26, paragraph 2e of the Corporate Income Tax Act will apply to payments of dividends and other income (profits) from participation in profits of legal entities.
What does this mean for companies?
If a Polish entrepreneur pays dividends and other income from participation in the profits of legal entities to taxpayers based or managed in the Republic of Poland, exceeding PLN 2 million to the same taxpayer, then the entrepreneur, as the payer, is obliged to withhold a flat income tax on these payments on the day of payment. This tax is levied at the basic rate (19%) on the excess over the aforementioned PLN 2 million amount, without the possibility of considering exemptions or rates resulting from regulations.
In this case, an exemption for income from participation in the profits of legal entities will be possible based on a valid opinion on the application of the exemption. Such an opinion is issued by the tax authority upon request, provided the applicant demonstrates that they meet specific conditions.
Attention!
An opinion on the application of the exemption also allows entrepreneurs to benefit from an exemption for payments exceeding PLN 2 million to a single taxpayer not based or managed in the Republic of Poland, concerning: interest, copyright or related rights, rights to invention designs, trademarks, and industrial designs, including the sale of these rights, remuneration for disclosing the secret of a recipe or production process, for the use or right to use an industrial, including transport, commercial, or scientific device, information related to industrial, commercial, or scientific experience (know-how).
If you would like more information, please contact us.
Summary: Effective July 1, 2019, Polish companies paying dividends or other profit-sharing income exceeding PLN 2 million to a single Polish resident taxpayer must withhold a flat 19% tax on the excess amount. Standard exemptions and lower tax rates cannot be applied to this excess without a specific tax authority opinion confirming eligibility. Such an opinion is also available for payments exceeding PLN 2 million to non-resident taxpayers, covering income like interest, royalties, patent rights, and know-how. This change impacts how companies manage withholding tax on significant dividend and profit distributions.
From September 1, 2019, invoice to receipt only with the buyer's VAT ID
6/12/2019
A proposed amendment to Article 106b of the VAT Act (effective September 1, 2019) mandates that invoices issued to a taxpayer for sales recorded via a fiscal cash register and confirmed by a fiscal re
A proposed amendment to Article 106b of the VAT Act (effective September 1, 2019) mandates that invoices issued to a taxpayer for sales recorded via a fiscal cash register and confirmed by a fiscal receipt can only be issued if the receipt includes the buyer's tax identification number.
Failure to comply will result in an additional tax liability for the seller equal to 100% of the tax shown on the incorrect invoice. However, individuals facing penalties for tax offenses for the same act will be exempt from this additional tax liability.
Similarly, buyers who record sales confirmed by a receipt lacking their tax identification number in their accounting records will also face an additional tax liability of 100% of the tax shown on that invoice, unless they are also liable for a tax offense or crime for the same action. These changes are part of a draft law currently under government review, aiming to enhance tax compliance by ensuring proper identification of buyers on invoices issued from fiscal cash registers. The intention is to prevent the misuse of VAT deductions by individuals who are not the actual purchasers.
New Obligation – Introduction and Application of the Internal MDR Procedure
6/3/2019
Since 2019, businesses in Poland have been required to implement an internal procedure regarding compliance with the obligation to report tax schemes, known as the internal MDR procedure. This obligat
Since 2019, businesses in Poland have been required to implement an internal procedure regarding compliance with the obligation to report tax schemes, known as the internal MDR procedure. This obligation applies to legal entities and organizational units without legal personality acting as promoters, employing promoters, or effectively paying them, whose revenues or costs exceeded PLN 8,000,000 in the previous financial year.
Two conditions must be met cumulatively: the entity must be a promoter (or employ/pay one), and their revenue/costs must exceed the specified threshold. A promoter is defined as someone who advises clients, develops, offers, makes available, or implements tax arrangements. An arrangement is an action or set of actions that affect a taxpayer's tax obligations. Therefore, if a company develops or implements any tax arrangement and its revenue/costs exceed PLN 8 million, it must have an internal MDR procedure.
Failure to implement this procedure can result in a fine of up to PLN 2,000,000, or up to PLN 10,000,000 if a tax crime related to MDR obligations is confirmed by a final court verdict.
ECJ Judgment on VAT Deduction for Accommodation and Catering Services – Open Road to VAT Recovery
5/29/2019
The legal situation concerning VAT deductions for accommodation and catering services changed on December 1, 2008, when amendments to the VAT Act were introduced. Previously, tourism service providers
The legal situation concerning VAT deductions for accommodation and catering services changed on December 1, 2008, when amendments to the VAT Act were introduced. Previously, tourism service providers could deduct VAT on these services. However, after the amendment, this right was revoked, with Article 88(1)(4)(b) of the VAT Act prohibiting deductions for accommodation and catering services, except for meals provided to passengers by transport companies.
A CJEU ruling clarified that the prohibition was permissible from May 1, 2004, to December 1, 2008, as it mirrored existing restrictions at Poland's EU accession. However, extending this prohibition to all taxpayers from December 1, 2008, and thus removing the deduction right for tourism service providers, violated an EU directive. The ruling emphasizes that the purpose of acquiring accommodation and catering services is crucial for determining the right to deduct input VAT.
This CJEU judgment opens avenues for taxpayers, especially tourism service providers not under the margin VAT system, to adjust their past VAT returns for periods not subject to prescription. Those with ongoing proceedings can directly cite the CJEU’s guidance to tax authorities. Individuals with final decisions can apply for reopening proceedings within a month of the CJEU ruling's publication. The Ministry of Finance will issue a supplementary position after a ruling by the Supreme Administrative Court in a case that led to the CJEU referral, which will further define "tourism services" relevant to this deduction right. Tax advisors have been representing clients in these matters and highlight the CJEU ruling's impact on disputes with tax administrations regarding VAT deductions for accommodation and catering services for tourism providers.
Non-deductible VAT on passenger cars from 1 January 2019.
5/22/2019
There are two main options for entrepreneurs acquiring a car for business use: purchasing for cash or leasing.
When purchasing for cash, the tax-deductible depreciation is capped based on a vehicle v
There are two main options for entrepreneurs acquiring a car for business use: purchasing for cash or leasing.
When purchasing for cash, the tax-deductible depreciation is capped based on a vehicle value of 150,000 PLN (225,000 PLN for electric vehicles). The vehicle's value includes the purchase price plus non-deductible VAT. Therefore, if only 50% of VAT is deductible, the remaining portion increases the car's value and subsequently affects deductible depreciation, remaining within the 150,000 PLN limit.
Alternatively, leasing allows for tax-deductible lease payments proportional to the 150,000 PLN limit compared to the car's value. Crucially, non-deductible VAT on lease payments, according to CIT and PIT laws, can be included as a tax-deductible expense without being subject to the 150,000 PLN limit, as it doesn't increase the asset's value. This interpretation, based on the clear wording of the CIT act, seemingly permits deducting the unrecovered VAT regardless of the 150,000 PLN threshold in leasing scenarios. Official clarification from the Ministry is anticipated to confirm this position in forthcoming tax explanations regarding business car usage.
Financing of gasoline purchases (fuel cards) is exempt from VAT
5/16/2019
The judgment will primarily have tax implications for fuel card issuers, typically leasing companies or fleet management firms that negotiate better fuel prices, and their clients. The established sch
The judgment will primarily have tax implications for fuel card issuers, typically leasing companies or fleet management firms that negotiate better fuel prices, and their clients. The established scheme involves users purchasing fuel tax-free with cards, with the fuel company invoicing the card issuer. The card issuer then invoices the end-user, whose employees used the fuel. Previously, each transaction was treated as a supply of goods (fuel) with VAT, allowing both the card issuer and the end-user to deduct this VAT.
However, the Court of Justice of the European Union (CJEU) ruled that a company financing fuel purchases for subsidiaries is providing a credit service, not possessing or reselling the fuel as an owner. Therefore, providing fuel cards is considered a service, not a supply of goods. Consequently, the card issuer and its clients cannot claim back VAT paid on invoices documenting these transactions. This ruling may lead tax authorities to scrutinize fuel card users' tax settlements, potentially disallowing VAT deductions on fuel supply invoices if the CJEU's stance is applied. The CJEU ruling (case C-235/18) does not apply to cards issued directly by fuel companies to final customers, as these are direct supplies of goods.
I noted with great surprise our jump of four positions from 18th to 14th. The surprise stemmed from the fact that in 2018, our development focused mainly on other services, such as tax advisory and ac
I noted with great surprise our jump of four positions from 18th to 14th. The surprise stemmed from the fact that in 2018, our development focused mainly on other services, such as tax advisory and accounting services. Audit, as a department, while developing, concentrated on compliance issues due to two planned inspections: by the Audit Supervision Committee and the National Supervisory Commission. The inspections went well, but they consumed us greatly. However, our attention to good growth foundations paid off. With changed ranking criteria, we grew by 4 positions… I don’t know if this is the last such significant growth, but I’m happy we managed it.
I sincerely thank all our clients who have trusted us, our employees, managers, partners, and the community of colleagues who support us daily. Thanks to you, we are changing, I hope for the better, not only by developing but by improving in various aspects of our activities.
On April 11th, I had the opportunity to participate in the second CFO Summit Conference organized by CIMA and AICPA, where the role of digitalization and leadership was emphasized. As an organization, we have much to do regarding digitalization, although the concepts of cloud computing, machine learning, and artificial intelligence are familiar to us. We see, however, that we want to follow changes in leadership, in building a healthy work environment where people care for each other, are not indifferent to the needs of others, both colleagues and clients, and want to build positive human relationships. We are working on this; we want to develop these skills because we spend over 1/3 of our time at work, and by building good relationships, we improve our comfort of life, satisfaction, and strengthen positive communication not only in business but also in life.
The road ahead is before us. Many challenges await us, but it is worth working for moments of success, worth building a team that I am proud of, even if difficult times sometimes obscure the sun and we forget its warm rays.
Thank you once again… and knowing our plans, I believe that in reality, we have just begun, and the question arises as to how far we will go together. It is worth dreaming…
audit, Piotr Witek, ranking, Rzeczpospolita, It is worth dreaming
We achieved a surprising four-position jump in the ranking, moving from 18th to 14th, despite a 2018 focus on tax and accounting services, with the audit department primarily engaged in compliance due to regulatory inspections. This growth, achieved under modified ranking criteria, is attributed to our foundational efforts. We express gratitude to clients, employees, managers, partners, and colleagues for their trust and support, which fuels our continuous improvement.
Attending the CFO Summit highlighted the importance of digitalization and leadership. While familiar with advanced technologies, we are actively focusing on developing leadership skills and fostering a positive work environment. This involves cultivating mutual care, empathy, and strong interpersonal relationships among colleagues and clients, recognizing that positive workplace dynamics significantly enhance job satisfaction and overall well-being.
Despite future challenges, the pursuit of success and the pride in our team make the effort worthwhile. We are only at the beginning of our journey, and the potential for collective achievement is vast, underscoring the value of ambition and dreaming big.
Tax Optimization in PIT – Is Paying Lower Taxes Possible?
4/5/2019
One legal method for optimizing tax liability from employment, personal services, service contracts, and commissioned work is by applying increased income-earning costs. This deviates from the standar
One legal method for optimizing tax liability from employment, personal services, service contracts, and commissioned work is by applying increased income-earning costs. This deviates from the standard practice where these costs for such taxpayers are only 1,335 PLN (adjusted for commuting). The legislator has introduced two increased flat rates for these costs: 50% and 20%. This material focuses on the 50% rate. It's crucial to note that this tax preference can only be applied to specific income types, primarily related to creative and artistic activities, research and development, and certain academic roles.
While the group eligible for the 50% rate was narrowed in 2018, it still includes professionals in fields like architecture, various arts, computer programming, journalism, museum work, conservation, translation, and R&D. A key limitation is that the 50% costs in a tax year cannot exceed 85,528 PLN, which is the upper limit of the first tax bracket. Beyond the restricted eligibility, taxpayers face interpretational challenges from the National Fiscal Information, particularly regarding separating core employment remuneration from copyright transfer fees, timekeeping for creative work, and calculating author's fees.
A draft general interpretation from the Ministry of Finance in January 2019 aimed to clarify the application of 50% costs to employment income related to copyright, but its final version remains unpublished. Despite limitations, there's a real possibility to reduce taxes in specific sectors. However, it's vital to be aware of both statutory restrictions and diverse interpretations. Consulting a tax advisor before implementing this optimization strategy is recommended to minimize tax risk.
Annual PIT Tax Return for 2018: Correct Preparation
4/3/2019
This event has already concluded.
We invite you to explore the training offer of Moore Polska Academy.
**Date:** April 25, 2019 (Thursday) **Time:** 9:00 AM – 1:00 PM **Location:** Gdański Park Nauk
This event has already concluded.
We invite you to explore the training offer of Moore Polska Academy.
**Date:** April 25, 2019 (Thursday) **Time:** 9:00 AM – 1:00 PM **Location:** Gdański Park Naukowo – Technologiczny Building C, Room C, ul. Trzy Lipy 3, 80-172 Gdańsk
**PROGRAM:**
I. Changes Regarding Revenues 1. Taxation of employee incentive program revenues 2. Changes concerning revenues from financial derivatives or securities rights
II. Changes Regarding Costs of Obtaining Revenue 1. 50% income tax costs, including conditions for employment income 2. One-time amortization 3. Amortization of fixed assets and intangible assets received as donations 4. Loss from the sale of receivables as a cost 5. Latest rulings and interpretations concerning: business travel, company cars
III. Discussion of the latest interpretations and case law regarding employee revenue, including: gifts, cash and in-kind awards, accommodation provision, commuting, private use of company cars, sports benefits, medical subscriptions, and more.
IV. Commercial Real Estate Tax V. Changes regarding lump-sum tax on rent
The training duration is scheduled for 4 hours. A Q&A session will follow the training.
**SPEAKER:** Monika Kanczkowska – Tax Advisor. Possesses extensive experience as an employee of tax authorities. Since 2015, she has provided advice, opinions, and explanations on tax obligations as a tax advisor. She has practical knowledge in representing clients in proceedings before tax authorities at all levels and before Administrative Courts.
**Participation Fee:** 250 PLN net per participant 200 PLN net per participant – discount for Rewit clients The price includes a coffee break and materials.
This training focused on significant changes in Polish tax law, particularly concerning revenue and costs of obtaining revenue. Key topics included the taxation of employee incentive programs and revenues from financial instruments. The program also addressed critical aspects of cost recognition, such as the 50% cost rule for certain employment income, one-time amortization, depreciation of donated assets, and the deductibility of losses from receivables. The speaker, Monika Kanczkowska, a seasoned tax advisor, also covered recent court rulings and interpretations related to business travel, company cars, and various employee benefits like gifts, awards, accommodation, and private car use. Additionally, the training touched upon commercial real estate tax and changes to lump-sum rental tax. The 4-hour session concluded with a Q&A session, with participation fees detailed, including discounts for specific clients.
By a regulation dated March 21, 2019 (effective March 23, 2019), the Minister of Finance extended the deadline for submitting the CIT-8 tax return to October 31, 2019, for certain taxpayers earning in
By a regulation dated March 21, 2019 (effective March 23, 2019), the Minister of Finance extended the deadline for submitting the CIT-8 tax return to October 31, 2019, for certain taxpayers earning income exempt from corporate income tax. The regulation applies to taxpayers whose tax year began after December 31, 2017, and ends before July 1, 2019.
This provision concerns individuals who earn exclusively tax-exempt income and are not obligated to prepare specific declarations or information indicated in the Personal Income Tax Act for the tax year for which the return is to be filed. The new regulations also cover taxpayers who are subjectively entitled to exemptions (e.g., associations) but have not acted as payers and have not earned income for the given year (they file "zero" returns).
**Summary:**
The Polish Minister of Finance extended the deadline for submitting the CIT-8 tax return to October 31, 2019, for specific corporate taxpayers. This extension, effective from March 23, 2019, specifically benefits entities whose tax year commenced after December 31, 2017, and concludes before July 1, 2019. The extended deadline applies to those whose income is entirely exempt from corporate income tax and who are not required to file other specific tax documents as per the Personal Income Tax Act for that tax year. It also includes entities eligible for exemptions, such as associations, that did not function as payers and reported no income for the year, thus filing zero-income returns.
Ministry of Finance prepares a "business owner test". We explain who it concerns
3/28/2019
Each of these individuals uses a flat tax rate, paying a 19% income tax. Additionally, they pay minimum lump-sum social security contributions. According to a Ministry representative, cases of individ
Each of these individuals uses a flat tax rate, paying a 19% income tax. Additionally, they pay minimum lump-sum social security contributions. According to a Ministry representative, cases of individuals working solely for one contractor often represent "sham" entrepreneurship: "They work for one company and issue one invoice per month. Moreover, they often have a non-compete clause. I don't know any real entrepreneurs who would agree to a non-compete clause."
The Ministry aims to combat individuals who register sole proprietorships and pay lower taxes, which it considers unfair to those paying taxes and contributions on employment contracts while performing the same tasks as those operating as businesses. The proposed solution is the "entrepreneur test," which would determine who is a genuine entrepreneur. However, details of the test's design and the timeline for its implementation remain undisclosed.
This plan represents a tool in the ongoing struggle between taxpayers and the tax authorities. The authorities have repeatedly referenced the definition of economic activity to argue that certain sole proprietors do not meet the criteria to be considered entrepreneurs and should be taxed as employees under the progressive tax scale. Currently, such disputes often end up in administrative courts. The planned tool would enable tax authorities to determine much earlier how an individual's income should be taxed, obviously benefiting the state budget.
Entrepreneur! The deadline for submitting the KOBiZE report is approaching.
2/27/2019
All entities that cause emissions are required by law to submit an annual report to KOBiZE (National E-emissions Report). This obligation, stemming from the Act on the Greenhouse Gas Emissions Managem
All entities that cause emissions are required by law to submit an annual report to KOBiZE (National E-emissions Report). This obligation, stemming from the Act on the Greenhouse Gas Emissions Management System and Other Substances, applies broadly to all businesses, regardless of size or the nature of their environmental impact. This includes not only large industrial facilities with production plants, boiler rooms, or paint booths but also smaller companies using air conditioning or company vehicles. Essentially, any entity utilizing the environment, regardless of its scale, business type, or environmental harm level, must file this report.
The KOBiZE report requires detailed information concerning environmental usage, emission-causing activities, specific equipment and installations, emission sources and locations, emission prevention or reduction measures, actual emission volumes, production quantities, raw material and fuel characteristics, relevant permits (integrated or air pollutant permits), deviations from emission limits, and planned investment projects with their projected emission impacts or reduction efficiencies.
While there is no direct penalty for failing to submit the KOBiZE report or for submitting an incomplete one, the consequences arise indirectly during inspections by the Provincial Inspectorate for Environmental Protection. Inspectors can request to see the submitted report. If it is missing, the inspector's post-control order will mandate its completion and submission. Failure to comply with these post-control orders within the stipulated timeframe can lead to the imposition of a fine.
Will VAT declarations disappear from next July? Severe penalties for errors!
2/26/2019
The proposed legislation aims to replace the current VAT-7 and VAT-7K declarations with a new single file, JPK_VDEK. This expanded JPK file will consolidate all necessary data, eliminating the need fo
The proposed legislation aims to replace the current VAT-7 and VAT-7K declarations with a new single file, JPK_VDEK. This expanded JPK file will consolidate all necessary data, eliminating the need for separate VAT declarations and simplifying reporting for taxpayers. The Ministry of Finance anticipates this change will significantly reduce the administrative burden and simplify tax settlements with the fiscal authorities. Businesses will now submit only one monthly or quarterly document without additional attachments.
However, the draft also introduces strict penalties for errors within the JPK files. Taxpayers will face a 500 PLN fine for each uncorrected mistake within 14 days of a tax office notification, with an exception for individuals if they face separate criminal liability for the same offense. Furthermore, the Fiscal Penal Code will be amended to include penalties of up to 240 daily rates for late or inaccurate submissions. The Ministry of Finance acknowledges concerns regarding these penalties and is considering measures, such as guidelines or statutory exclusions, to avoid punishing minor errors. The primary goal is to combat tax fraud, particularly carousel fraud and the use of "empty" invoices, by encouraging accurate JPK submissions that enable analytical and control functions. Minor mistakes, like typos in addresses, are intended to be differentiated from errors that hinder the system's analytical capabilities.
Our clients are companies from the IT, trade, service, leasing, construction, administrative, and tourism industries. We serve, among others, doctors, legal advisors, lawyers, architects, educational
Our clients are companies from the IT, trade, service, leasing, construction, administrative, and tourism industries. We serve, among others, doctors, legal advisors, lawyers, architects, educational institutions, and real estate agencies. We handle private rental settlements. Our accounting services include:
Maintaining records such as: revenue and expense ledgers, lump-sum tax on registered revenues, tax cards – in compliance with applicable regulations, including document preparation for accounting, formal and accounting verification, and their entry into the financial and accounting system. Preparing and submitting tax liability declarations (VAT, PIT). Maintaining VAT sales and purchase records. Settling international transactions: WDT, WNT, export, import. Preparing mandatory statistical reports for GUS (Central Statistical Office) within the scope of the agreement. Preparing annual tax declarations. Preparing monthly financial performance reports. Providing accounting and tax consultations regarding the Client's current operations. Based on power of attorney to sign and submit declarations to the Tax Office electronically on behalf of the Company. Maintaining records of fixed assets and intangible and legal assets, and current depreciation plans. Payroll preparation. Preparing all declarations and reports required by ZUS (Social Insurance Institution) (ZUS settlements). Preparing information on individual income tax amounts (employment contracts, mandate contracts, and task contracts) – formerly PIT-4. Preparing annual employee income information – PIT-11. Preparing the annual individual income tax declaration PIT-4R. Monthly information on taxes and ZUS contributions due. Representing clients at the Tax Office, ZUS, and other institutions as per granted power of attorney.
The detailed scope of duties is established with our clients at the beginning of the cooperation, with the possibility of expansion during its course. If you would like to learn more about the discussed issues, please contact us.
Our accounting services cater to a diverse range of businesses, including IT, trade, services, leasing, construction, administration, and tourism. We also support professionals such as doctors, lawyers, architects, educational institutions, and real estate agencies, as well as managing private rental accounting. Our comprehensive offerings cover various bookkeeping methods, from revenue and expense ledgers to tax cards, ensuring full regulatory compliance. We handle the preparation and submission of VAT and PIT declarations, manage international transactions (WDT, WNT, export, import), and compile statistical reports for GUS. Furthermore, we provide monthly financial performance updates, tax consultations, fixed asset and intangible asset management, and payroll services. We also take care of all ZUS requirements, including declarations and reports, and issue necessary tax information forms like PIT-11. Our services extend to representing clients before tax authorities and social security institutions. The scope of our engagement is flexible and can be adjusted to meet specific client needs throughout our partnership.
Due to inaccuracies in many online resources, the following points are clarified:
1. Employers can choose to maintain employee records in either paper or electronic form. 2. Employers can switch be
Due to inaccuracies in many online resources, the following points are clarified:
1. Employers can choose to maintain employee records in either paper or electronic form. 2. Employers can switch between these formats at any time. 3. The adaptation period primarily concerns the basic ABC document classifications, with additions of category D and minor adjustments to the register, allowing 12 months for implementation, not for the introduction of electronic records entirely. Records can continue to be maintained as before, requiring only reordering according to the new register and addition of the "D" category. 4. Record retention periods: 50 years for employees hired before January 1, 1999, and those with specific data (e.g., miners); 10 years for employees hired from January 1, 2019, or between 1999-2018, provided a ZUS OSW and RIA report are filed. Failure to file extends the retention to 50 years. The ZUS OSW statement can be submitted at any time but can only be withdrawn before the first ZUS RIA report is filed. Once the first RIA report is filed, all subsequent reports must be completed. 5. The statement regarding the certificate of employment can take two forms: an additional point in the certificate or additional information stating the record retention period, the employee's right to collect the documentation by the end of the month following the retention period, and that the documentation will be destroyed if not collected. 6. If an employer chooses to change the format of employee records, they must inform employees about the change and their right to collect their previous documentation within 30 days.
Your e-PIT is a service designed to assist taxpayers in fulfilling their tax obligations by utilizing data already held by the National Revenue Administration (KAS). This means taxpayers don't need to
Your e-PIT is a service designed to assist taxpayers in fulfilling their tax obligations by utilizing data already held by the National Revenue Administration (KAS). This means taxpayers don't need to re-enter information. The tool allows for the completion of the PIT tax return for 2018 without the need for manual filling and submission.
It generates electronic tax returns based on data received from employers (such as PIT-8C, PIT-11) and previous years' tax filings (including bank account numbers and child relief details). Taxpayers can choose to use the e-PIT prepared by the tax administration or complete their return independently. If no action is taken by the April 30th deadline, the KAS-prepared return is automatically accepted.
This service is available for individuals who are not self-employed and those with capital gains income (filing PIT-37 or PIT-38). For other tax return types (PIT-36, PIT-36L, PIT-28), the service will be available for tax year 2019. Importantly, returns are personalized, allowing taxpayers to change their filing status to joint with a spouse or as a single parent. Tax returns prepared by KAS are available from February 15th to April 30th on the Tax Portal. Electronic filing shortens tax refund periods to 45 days. If a taxpayer owes taxes and doesn't act, their return is auto-accepted, and they will receive notification of payment due within 7 days of receipt, with no interest charged during this period.
E-Reports – New Requirements. How to Prepare for the Changes?
電子報告書の新要件:変更にどう備えるか
2/12/2019
Specifically, it should be a document in the form of an electronic file with the JPK_SF logical structure, confirmed by a secure electronic signature.
The new requirements were introduced into the Ac
Specifically, it should be a document in the form of an electronic file with the JPK_SF logical structure, confirmed by a secure electronic signature.
The new requirements were introduced into the Accounting Act in October 2018. However, most companies are facing the new obligation only now, as the deadline for closing the accounting books for 2018 approaches.
The annual financial statement of entities maintaining full accounting records is prepared within 3 months from the balance sheet date – therefore, entities whose fiscal year coincides with the calendar year have time until March 31, 2019, to prepare it.
The most important change that entrepreneurs will encounter is sending the financial statement to the National Court Register (KRS) in electronic form according to the imposed logical file structure (JPK_SF). Additionally, electronic financial statements must be signed with a secure electronic signature by both the person preparing the financial statement and all persons indicated in the KRS as authorized to represent the entity. In the case of financial statements audited by a statutory auditor, they are also obliged to sign it electronically.
E-Reports – consequences of new requirements
In the first year, entrepreneurs will certainly face considerable difficulties:
familiarizing themselves with new tools, obtaining an electronic signature by all members of the management board, and preparing the financial statement in a new formula, while often copying templates from previous years until now.
In a situation where accounting is conducted without the support of an external accounting office, it may be an additional logistical and organizational challenge in a rather fast-paced business life.
However, it should be taken into account that new technical solutions will allow for easier monitoring of the financial results of business partners in the future, and thus improve the security of economic transactions. Good quality information will be easily accessible to every entrepreneur. Therefore, it should be assumed that awareness in the field of proper accounting and care for ensuring a reliable image will also improve.
For preparing a financial statement in violation of the guidelines of the Accounting Act, the regulations provide for the threat of a fine or imprisonment of up to two years or both penalties jointly. Therefore, every effort should be made to update systems, supplement knowledge and fulfill new requirements.
If you would like to learn more about the issues discussed, please contact us.
Contact
E-Reports, requirements, changes
Summary:
The Polish Accounting Act was amended in October 2018, mandating electronic financial statement submissions to the National Court Register (KRS) in JPK_SF format. Companies operating on a calendar-year fiscal cycle must comply by March 31, 2019. These e-statements require secure electronic signatures from both the preparer and all KRS-registered representatives, including auditors if applicable. This new system presents initial challenges, including familiarization with new tools, obtaining digital signatures for all board members, and adapting to the new reporting format. While posing logistical hurdles, particularly for businesses without external accounting support, the shift promises enhanced financial transparency, facilitating improved monitoring of business partners and bolstering economic security. Non-compliance can lead to fines or imprisonment, emphasizing the need for businesses to update systems, expand knowledge, and fulfill these updated requirements. The new solutions enable easier monitoring of financial results of business partners and therefore improving security.
Transfer pricing for 2018 after the amendment - explanations from the Ministry of Finance
2/6/2019
**Scope of Regulations in 2018 and 2019**
The amending law came into effect on January 1, 2019, and generally applies from that date. However, due to the reporting obligations in income taxes being f
**Scope of Regulations in 2018 and 2019**
The amending law came into effect on January 1, 2019, and generally applies from that date. However, due to the reporting obligations in income taxes being fulfilled after the tax year ends, transitional provisions specify the application date, even if it coincides with the law's effective date. Reporting obligations, although fulfilled post-tax year, are a consequence of the prior year's tax obligation. References to applying the law to income from a specific date mean applying it to determine the tax liability for that tax year and the subsequent reporting obligations.
Article 44(1) of the amending law doesn't abolish prior obligations but addresses intertemporal issues related to implementing changes. For corporate income taxpayers with non-calendar tax years that began before January 1, 2019, and end after December 31, 2018, the previous regulations apply until the end of their tax year. The new regulations apply to tax years starting after December 31, 2018, reflecting the constitutional principle against retroactive law.
The fact that repealed regulations are no longer in effect when reporting for the previous year is irrelevant; the crucial factor is the period the obligation pertains to. For transfer pricing obligations for 2018, the regulations in effect that year generally apply.
However, Article 44(2) allows opting for the new regulations for all controlled transactions in 2018, precluding simultaneous application of both sets of rules. The TP-R form doesn't apply to 2018, instead, the CIT/TP or PIT/TP form is required.
Operating expenses - tax changes in cost accounting 2019
2/5/2019
The regulations effective from January 1, 2019, raise numerous doubts and questions regarding their interpretation and proper inclusion in costs, lacking clear answers. The changes primarily concern t
The regulations effective from January 1, 2019, raise numerous doubts and questions regarding their interpretation and proper inclusion in costs, lacking clear answers. The changes primarily concern three key areas: the limit for including the cost of purchasing a passenger car in income tax expenses, restrictions on including operating expenses for company cars used for both business and private purposes, and a limit for private cars not listed in the fixed asset register.
The limit for deducting passenger car acquisition costs is now capped at 225,000 PLN for electric vehicles and 150,000 PLN for other cars, replacing the previous 20,000 EUR limit. This limit applies to depreciation and operational leasing installments; however, agreements before January 1, 2019, remain under the old rules unless amended. Only the capital part of the leasing agreement is subject to the limit, while the interest portion is considered an operating expense.
Regarding company cars used for both business and private purposes, only 75% of operating expenses (fuel, repairs, highway tolls, parking fees) can be included in income tax expenses. If a car is used solely for business, 100% can be included with a vehicle mileage log, but inaccuracies can result in the 75% limit being applied retroactively. For private cars used for business, a flat 20% of operating expenses can be included as income tax expenses, replacing the mileage allowance, without the need for a vehicle mileage log.
Revenues reached 11.5 million PLN, a 32% increase in sales. Revenues excluding exclusions amounted to 13.5 million PLN. The company serves 700 clients, with new clients coming from various industries,
Revenues reached 11.5 million PLN, a 32% increase in sales. Revenues excluding exclusions amounted to 13.5 million PLN. The company serves 700 clients, with new clients coming from various industries, including the growing banking sector. It employs 110 people across eight offices in Poland. Key achievements include positive outcomes from two KNA/KKN audits, leading to improved audit quality, and the implementation of new lean accounting solutions.
The company's vision for 2020 is to become the largest independent Polish auditing firm, establishing a foundation for a nationwide auditing presence and expanding into new services such as grant and innovation activities. The past year has highlighted the importance of adaptability and people. The company acknowledges both contract wins and losses, emphasizing the value of its employees. They also express gratitude to the late President Paweł Adamowicz for his contributions to Gdańsk. The company is preparing to celebrate its 25th anniversary in the market.
Choosing and Changing the Form of Business Taxation in 2019
1/23/2019
**Lump-Sum Tax and Linear Tax**
Previously, changes regarding taxation methods had to be reported to the relevant Head of the Tax Office by January 20th of each year.
According to regulations effect
**Lump-Sum Tax and Linear Tax**
Previously, changes regarding taxation methods had to be reported to the relevant Head of the Tax Office by January 20th of each year.
According to regulations effective from January 1, 2019, taxpayers wishing to choose linear taxation or a lump-sum tax for income from non-agricultural business activities must submit a written statement to the relevant head of the tax office by the 20th of the month following the month in which the first income from this source was received in the tax year, or by the end of the tax year if the first income was received in December.
The chosen taxation method applies to subsequent years as well. Taxpayers can still submit a declaration to opt out of the chosen form or select another method. This change also requires notification by the 20th of the month following the month in which the first income was received in the tax year or by the end of the tax year if the first income was received in December.
For the tax card (karta podatkowa) method, the deadline for reporting this form of taxation or changing from it remains January 20th. The application for taxation in the form of a tax card for a given tax year must be submitted to the appropriate head of the tax office no later than January 20th of the tax year. Notification of a change in the form of taxation (resignation from the tax card) also takes place by January 20th of the tax year.
When calculating income from renting out a fully furnished apartment with a tenant, individuals not running a business can choose between general tax rules (18%, 32% rates on income minus costs) or a
When calculating income from renting out a fully furnished apartment with a tenant, individuals not running a business can choose between general tax rules (18%, 32% rates on income minus costs) or a flat-rate tax on recorded income (8.5% up to 100,000 PLN, 12.5% on the excess). Most investors opt for the flat rate due to its simplicity.
Since January 1, 2019, further simplifications have been introduced. Taxpayers are no longer required to submit a notification of choosing the flat-rate taxation. Making the first flat-rate payment in a tax year is considered equivalent to choosing this taxation method. If the first income is received in December, filing the tax return by the deadline suffices.
For properties co-owned by spouses, income is split proportionally unless they declare that one spouse will handle the full taxation. This declaration must be submitted to the tax office by the 20th of the month following the month when the first income was received, or by the end of the year if the income arrived in December. Only one spouse needs to sign this declaration.
Taxpayers are exempt from maintaining income records, instead proving income based on payment confirmations. The tax return deadline is between February 15th and the end of February of the following year, concerning incomes received after 2019.
Knowing these regulations, investors can enjoy the benefits of their profitable real estate investment.
IFRS 16 is a significant shift, not just a terminology update, potentially requiring renegotiation of existing agreements and impacting IT systems and financial planning KPIs. While effective since Ja
IFRS 16 is a significant shift, not just a terminology update, potentially requiring renegotiation of existing agreements and impacting IT systems and financial planning KPIs. While effective since January 1, 2019, some entities are only now assessing its scale.
IFRS 16 applies to entities under IFRS standards, excluding specific asset types like biological assets and intellectual property licenses, agreements below $5,000, and those lasting 12 months or less. However, determining contract value and duration necessitates understanding new IFRS 16 definitions.
The definition of a lease is similar to IAS 17 but shifts from "risks and rewards" to guidelines considering benefits from the asset and its independence from other assets. This can reclassify agreements as leases and separate leasing and operational components. Applying IFRS 15 principles helps allocate contract prices. However, lessees can opt not to separate operational elements. Lease terms include optional periods if extension is likely.
Preparing for IFRS 16 involves understanding its impact on financial statements, particularly the balance sheet, which will reflect all leases as assets and liabilities. This can inflate balance sheet totals, increase EBITDA, raise debt ratios, and reduce asset profitability, possibly necessitating renegotiation of financing agreements with "frozen GAAP" clauses. Simulation and scenario planning are recommended. More detailed lease data management might require dedicated software beyond Excel.
Tax Documentation in the Event of Share Buyback for Redemption
12/8/2018
In practice, recently, I had the opportunity to consider the question of whether a taxpayer, a joint-stock company, is obligated to prepare tax documentation when it repurchases its own shares for red
In practice, recently, I had the opportunity to consider the question of whether a taxpayer, a joint-stock company, is obligated to prepare tax documentation when it repurchases its own shares for redemption. This situation is governed by Article 362 § 1 point 5 of the Commercial Companies Code, which prohibits companies from acquiring their own shares, with an exception for acquisition for the purpose of redemption.
The transaction involved related parties, specifically the company repurchasing shares from its majority shareholder. The conditions for preparing transfer pricing documentation, as per Article 9a of the Corporate Income Tax (CIT) Act (e.g., revenue thresholds, materiality), were met, raising the question of whether documentation was required for this type of transaction.
The author's initial doubts stemmed from the purpose of transfer pricing documentation, which is to ensure that conditions between related parties do not differ from those between independent parties (linking to Article 11 of the CIT Act). However, a share redemption transaction can only occur between related parties, meaning there are no comparable transactions between independent entities to benchmark against.
Historically, tax authorities, based on individual interpretations (e.g., relating to share redemption), agreed that transfer pricing rules did not apply to voluntary share redemptions because they are exclusively between related parties, precluding independent comparables. However, the tax authority's stance recently shifted. In a new interpretation, the tax authority deemed voluntary share redemption for consideration to be a transaction subject to transfer pricing documentation requirements, despite similar arguments from the taxpayer.
The author concluded by noting that taxpayers have two primary paths: either not preparing the documentation based on the older interpretation or preparing it based on the newer one, as a third alternative was not identified. The final decision, with advice and experience offered, was left to the taxpayer.
What to do when you lack the financial means to pay taxes?
11/26/2018
Despite numerous commercial agreements, clients often face issues like unfinished projects, staff shortages, and unforeseen events. Taxpayers are legally obligated to make mandatory monetary payments
Despite numerous commercial agreements, clients often face issues like unfinished projects, staff shortages, and unforeseen events. Taxpayers are legally obligated to make mandatory monetary payments without prompting from the tax office. If a company's financial analysis suggests it cannot fulfill this obligation, the tax authority, under Article 67a of the Tax Ordinance, can postpone tax payment deadlines or allow payment in installments. They can also postpone or spread the payment of tax arrears with interest or even completely or partially forgive tax arrears, late payment interest, or extension fees upon the taxpayer's request, provided it doesn't constitute public aid or is de minimis aid.
Public aid can be granted to repair damage from natural disasters or other extraordinary events, prevent economic disturbances, support national entrepreneurs in European initiatives, and promote culture, heritage, science, and education. Crucially, if a business knows before the tax payment deadline that it lacks funds, it can request payment in installments without waiting for arrears. The taxpayer must provide arguments demonstrating a significant public or private interest justifying the relief and demonstrate the ability to meet the revised payment schedule. The tax authority then issues a decision deferring payment or allowing installments, including an extension fee. Compliance with the agreed payment schedule is crucial; failure to do so voids the decision, reverting to the original payment deadline. Although the required documentation and deadlines can be daunting, this approach offers a crucial lifeline for businesses.
In a court-ordered assessment for the District Court, I evaluated damages for the loss of a company's value due to an individual's wrongful arrest. The claimant held a 50% stake and was the CEO of a s
In a court-ordered assessment for the District Court, I evaluated damages for the loss of a company's value due to an individual's wrongful arrest. The claimant held a 50% stake and was the CEO of a service-based limited liability company with established operations, equipment, and a good market reputation. The arrest lasted over a year, preventing the claimant from managing the company. Following his release, the company operated for another year but ultimately dissolved. This was due to the reputational damage from the CEO's arrest, leading to the inability to renew its lease. The claimant sought compensation for the company's asset value at the arrest's conclusion, the company's loss during the arrest period, and his unpaid salary.
My analysis involved reviewing financial statements, which, despite the company's size, accurately reflected its economic substance. I noted an increase in the company's assets and equity after the arrest, juxtaposed with fluctuating profit/loss figures. Specifically, the company transitioned from a small profit before the arrest to a significant profit the first year, followed by a substantial loss during the remaining arrest period. The claimant's compensation request included this loss.
However, the accounting figures didn't fully explain the equity increase, later revealed to be from selling fixed assets during liquidation. Simply using net book value for damages would be inequitable, as it would negate compensation for lost income. Therefore, I proposed an alternative, income-based valuation. Using the company's profit from the year preceding liquidation as a baseline, and considering a four-year lease as indicative of potential income, I estimated future profits. My calculation added these projected profits to the net assets at the arrest's end, then subtracted the actual capital value before liquidation. The claimant's 50% share of this figure, exceeding PLN 500,000, was recommended, with a potential 50% margin of error due to estimation and the company's confidential nature. Practical challenges included simplifying financial reporting periods and addressing the residual value from asset sales. I also had to justify the income-based method over relying solely on asset values or single-period losses.
In summary, the claimant's wrongful arrest led to the forced liquidation of his company. Initial financial statements showed an increase in asset value post-arrest, largely due to selling off depreciated yet valuable assets. However, this accounting approach masked the true economic damage: the loss of future income. My valuation focused on projecting the company's earnings potential before the arrest, using a four-year period as a benchmark. This income-based assessment, adjusted for asset sales and unpaid salaries, revealed the actual loss to the claimant. The process encountered practical issues like aligning financial data with the arrest timeline and accounting for the profits derived from asset liquidation. The recommended compensation aimed to fairly represent the lost earning capacity, acknowledging the inherent uncertainties in such estimations.
ZUS Contributions: Unconstitutional Abolition of the Limit
11/16/2018
The Constitutional Tribunal ruled that while the law in question does not violate Article 2 of the Constitution, which states that the Republic of Poland is a democratic state governed by the rule of
The Constitutional Tribunal ruled that while the law in question does not violate Article 2 of the Constitution, which states that the Republic of Poland is a democratic state governed by the rule of law and realizing the principles of social justice, it is inconsistent with Article 7 of the Constitution. Article 7 states that public authorities operate on the basis and within the limits of the law.
**Summary:**
The Polish Constitutional Tribunal issued a ruling (Kp 1/18) declaring a specific law unconstitutional based on Article 7 of the Polish Constitution. The Tribunal found that the law's provisions violated the principle that public authorities must operate within the boundaries of the law. Although the law did not contravene Article 2 concerning the democratic rule of law and social justice, the breach of Article 7 rendered it invalid. The case concerns the elimination of the contribution limit to the Social Insurance Institution (ZUS). The ruling is significant due to its impact on the functioning of public authorities and their adherence to constitutional principles.
The Minister of Family, Labour and Social Policy has introduced new declaration forms for employers obligated to pay into the State Fund for Rehabilitation of Disabled Persons (PFRON). These new month
The Minister of Family, Labour and Social Policy has introduced new declaration forms for employers obligated to pay into the State Fund for Rehabilitation of Disabled Persons (PFRON). These new monthly and annual declaration forms, with symbols DEK-I-0, DEK-I-a, DEK-I-b, and DEK-II-u, along with the registration declaration DEK-Z, are effective from September 2013.
Key changes in the new forms compared to the previous ones include clarified explanations in DEK-I-0 and DEK-I-a. DEK-I-b’s explanation number 14 regarding disabled individuals in education has been revised. Explanation number 13 in DEK-II-u, concerning the calculation of payable amounts when incorrect data leads to an overstated reduction in information provided to buyers, has also been updated. The DEK-Z form now includes a new field, "44 Employer Structure," and its explanation number 24 has been clarified with the addition of employer type codes.
Employers are to continue using the previous declaration forms for reporting periods up to and including September 2018. Additionally, new monthly and annual information forms have been introduced, effective from September 2013, replacing older versions based on a December 20, 2012 ministerial regulation. These new forms pertain to employment, education, or activities for disabled persons.
In summary, the Ministry of Family, Labour and Social Policy has updated declaration and information forms for employers contributing to the PFRON, effective from September 2013. These changes involve refined explanations, modifications to specific fields related to disabled individuals in education and calculation accuracy, and the addition of employer structure data. The previous declaration forms will remain in use until September 2018. The new forms aim to improve reporting accuracy and clarity regarding employment and engagement with disabled persons.
It was an honor and a distinction for us to share our experience in implementing modern solutions to improve efficiency in the accountant-client relationship with other companies.
The event facilitat
It was an honor and a distinction for us to share our experience in implementing modern solutions to improve efficiency in the accountant-client relationship with other companies.
The event facilitated the exchange of experiences related to the development of Lean Management concepts in companies operating within Polish culture.
Detailed program information is available at http://www.leanpolakpotrafi.pl/
The event was a significant opportunity for us to share our expertise in enhancing the accountant-client relationship through modern solutions. We had the honor of exchanging experiences with other companies, focusing on the practical application of Lean Management principles within the Polish business context. This gathering provided valuable insights into developing and implementing lean strategies tailored to the unique aspects of Polish corporate culture. Participants discussed how to foster greater efficiency and collaboration between accounting firms and their clients. The event's program, detailing these discussions and future directions, was made available on the website http://www.leanpolakpotrafi.pl/. The core themes revolved around lean methodologies and their successful implementation in Poland, under the banner of "Polak Potrafi" (Poles Can Do It).
This relief allows for the deduction of research and development (R&D) expenses from the tax base (income). It enables entrepreneurs to account for costs related to such activities twice: once by incl
This relief allows for the deduction of research and development (R&D) expenses from the tax base (income). It enables entrepreneurs to account for costs related to such activities twice: once by including them in their revenue-generating expenses and again by deducting them from their income. To utilize the R&D relief, entrepreneurs must meet the conditions stipulated in the income tax laws.
Crucially, expenses must have been incurred for R&D activities, defined as systematic creative work involving scientific research or development aimed at increasing knowledge resources and applying them to create new uses. While the legal definition of R&D is broad, potentially encompassing most entrepreneurs, it's important to note that achieving a positive outcome is not a requirement; merely conducting R&D activities is sufficient. However, this R&D must be conducted systematically, not on an ad-hoc basis.
Deductions are made in the tax return filed for the year the expenses were incurred. If income is insufficient to utilize the full deduction, it can be carried forward to subsequent tax years for up to six years. Entrepreneurs operating within special economic zones may also claim R&D relief for eligible costs not already exempted under their zone permit. The text also highlights the benefits for companies and offers professional assistance in applying for this relief.
We invite you to explore the training offer of Moore Polska Academy.
The seminar will be led by Piotr Witek – President of REWIT Group, Statutory Auditor, FCCA, MBA
This event has already concluded.
We invite you to explore the training offer of Moore Polska Academy.
The seminar will be led by Piotr Witek – President of REWIT Group, Statutory Auditor, FCCA, MBA, and Bartosz Wojtaczka – specialist in EU funds and state aid, lawyer at Ostrowski i Wspólnicy Law Firm.
Piotr Witek will discuss: "What risks in subsidy programs can professional accountants detect?" Topics include related entities and company size, purchases of new or used assets, compliance of task scopes with definitions, benefiting from funds inconsistently with project goals, ownership changes, achieving project objectives, accounting implications of losing subsidies, tax repercussions, financing (loans, leasing), and other issues.
Bartosz Wojtaczka (Ostrowski i Wspólnicy Law Firm) will cover: 1. Principles of cooperation with the financing institution, including rights and obligations, and beneficiary responsibility. 2. Purchases within a project, detailing tender procedures and common irregularities. 3. Obligations arising from state aid law, such as expenditure eligibility, flexibility in project plans, and requirements for acquiring goods and services. 4. Principles of sustainability, explaining the concept and providing examples of violations.
The presentations are scheduled for 2 hours, followed by a Q&A session. Participation in the seminar is free. To register, please complete the attached form and return a scanned copy to torun@ostrowski-legal.net by June 6, 2018.
Keywords: subsidies, EU funding, grants, accounting, subsidy programs, EU, European Union.
The attached document outlines the criteria that National Revenue Administration (KAS) officials should consider regarding taxpayers' involvement in recently popular "tax carousels." While not legally
The attached document outlines the criteria that National Revenue Administration (KAS) officials should consider regarding taxpayers' involvement in recently popular "tax carousels." While not legally binding, it serves as a recommended guideline for officials. Its effectiveness may be limited due to the absence of a statutory provision, such as resolving all doubts in favor of the taxpayer. Nevertheless, it can be utilized in appeals against decisions.
The formation of a binding Code of Good Practices for tax authorities is unlikely, as the tax authorities fear it would guide tax criminals on organizational steps to defend themselves against "tax carousel" accusations. This concern is understandable.
We encourage you to read the "Methodology for assessing due diligence by buyers of goods in domestic transactions."
Source: Ministry of Finance
Due diligence, tax authorities, KAS, code of good practices, methodology, due diligence
Salaries in Poland increased by 6.7% compared to 2017, with a 7.1% annual rise in the first quarter. Employment also grew by 3.7% year-on-year in March, reaching 6.2 million people. However, many Pole
Salaries in Poland increased by 6.7% compared to 2017, with a 7.1% annual rise in the first quarter. Employment also grew by 3.7% year-on-year in March, reaching 6.2 million people. However, many Poles are surprised by these figures, as the official statistics often don't reflect their personal income. This discrepancy arises because GUS (Statistics Poland) reports gross salaries, not net ones, meaning nearly 3.5 thousand PLN after taxes for an average gross salary of 4.9 thousand PLN. Furthermore, GUS primarily focuses on the enterprise sector, which typically pays better, and calculations for the "national average" are based on large and medium-sized firms, accounting for only about 38% of employees and including industry-specific bonuses and benefits.
The median salary, a more accurate representation of what half the workforce earns, was significantly lower. In October 2016, the median gross salary was 3,510.67 PLN, translating to just over 2.5 thousand PLN net. Even more revealing is the mode, the most frequently paid salary, which was a mere 2,074.03 PLN gross (1,511.61 PLN net) in October 2016, a stark contrast to the reported average. Statistics show that two-thirds of employees earn less than the national average. Regional variations and differences in pay between professions and genders also contribute to the overall salary landscape.
A self-employed individual was reclassified as a full-time employee after applying for maternity benefits a year into her work. This Supreme Court ruling (Case No. II UK 711/16) could set a precedent
A self-employed individual was reclassified as a full-time employee after applying for maternity benefits a year into her work. This Supreme Court ruling (Case No. II UK 711/16) could set a precedent for individuals consistently working for a single company, operating under the client's imposed location and hours. Such individuals may be deemed permanent employees, and upon claiming benefits from their self-employment to ZUS (Social Insurance Institution), ZUS controllers may investigate and reclassify their status.
For employers, this reclassification means they could be liable for paying backdated employee contributions for up to five years. They must also meticulously account for the individual's working hours, ensuring compliance with overtime regulations. The employee, in turn, gains the right to claim any untaken paid leave for up to three years prior.
The case involved a woman working in a shop for a year before becoming pregnant and applying for benefits. ZUS controllers denied her claim, arguing her business registration was merely a facade. They noted she had deregistered from voluntary health insurance shortly before a prolonged sick leave, only to re-register with a higher contribution rate afterward. This was deemed a strategic move to secure a higher maternity allowance than her modest salary would warrant. Courts upheld ZUS’s decision, concluding she never intended to genuinely operate her business and primarily served the shop owner, working at their specified times and locations, not her registered business address.
The self-employed individual argued that many professions are now performed through self-employment, with legislative support, citing healthcare professionals as an example. However, the Supreme Court dismissed the appeal, ruling that a self-employed person loses that status when the client assumes responsibility for their work’s outcome and exercises control over their work's execution, location, and timing.
Extension of deadlines for transfer pricing documentation
3/26/2018
The regulation extends deadlines to the end of the ninth month following the tax year for preparing tax documentation (as per PIT and CIT laws), submitting a declaration on its preparation to the tax
The regulation extends deadlines to the end of the ninth month following the tax year for preparing tax documentation (as per PIT and CIT laws), submitting a declaration on its preparation to the tax office, and attaching a simplified report to the annual tax return.
These extended deadlines apply to obligations that were originally due in 2018 (for the 2017 tax year) or 2019 (for the 2018 tax year), assuming a calendar tax year. The extension also applies to taxpayers with non-calendar tax years, requiring them to meet these obligations for the 2017 tax year by December 31, 2018, or March 31, 2019, and for the 2018 tax year by December 31, 2019, or March 31, 2020.
The extension for tax documentation covers all its components, including the description of financial data, which now has an additional 10-day period after financial statement approval. However, the extension for the simplified report (PIT/TP or CIT/TP) means it can be attached later to the tax return—five months later for PIT/TP and six months later for CIT/TP. The annual tax return itself remains due on its original date (generally April 30 for PIT, or the end of the third month after the tax year-end for CIT). Attaching the simplified report at the extended deadline does not require amending the tax return.
The extended deadlines relate to transfer pricing documentation, tax documentation, and the submission of related declarations and simplified reports.
The changes mandate electronic reporting of financial statements for entities required to maintain accounting records under the Accounting Act, as well as those voluntarily opting for full accounting.
The changes mandate electronic reporting of financial statements for entities required to maintain accounting records under the Accounting Act, as well as those voluntarily opting for full accounting. These reports must be signed using a qualified electronic signature or ePUAP trusted profile. The Ministry of Finance will define the logical structure and file format, likely integrated into the existing JPK (Standard Audit File) system. This digitalization aims to provide comprehensive insight into companies' financial health and enable cross-checking of information against other JPK structures.
Key changes for financial statements submitted for 2018 include: - Taxpayers of PIT and CIT who maintain accounting records must prepare individual and consolidated financial statements electronically, excluding consolidated statements prepared according to IFRS. - Businesses not registered in the National Court Register (KRS) will submit their reports directly to the Head of the National Revenue Administration (KAS). - The KRS will maintain a financial document repository for all entities required to submit financial documents to it. - Financial statements from this repository will be transferred to the Central Tax Data Register managed by the Head of KAS.
Furthermore, an amendment to the Tax Ordinance allows tax authorities to request explanations for non-submission or to summon entities to submit reports. Failure to comply can result in repeated fines of PLN 2800. These provisions for electronic financial reporting take effect on October 1, 2018, applying to statements for the 2018 fiscal year.
Extension of deadlines for taxpayers in the field of transfer pricing
2/17/2018
The Ministry of Finance is proposing an amendment to regulations extending deadlines for preparing local and group transfer pricing documentation, submitting declarations of preparation, and filing CI
The Ministry of Finance is proposing an amendment to regulations extending deadlines for preparing local and group transfer pricing documentation, submitting declarations of preparation, and filing CIT-TP/PIT-TP reports. This extension, of approximately six months, applies to transactions from 2017 and 2018. The change is a response to taxpayer difficulties in meeting original deadlines.
The proposed regulation shifts the deadline for preparing documentation, submitting declarations, and attaching simplified reports to the last day of the ninth month after the end of the tax year, instead of the tax return filing date. This adjustment is intended to cover obligations arising from 2018 (for 2017 documentation) and 2019 (for 2018 documentation).
Concurrently, the Ministry of Finance is developing a legislative amendment aimed at significantly reducing and simplifying transfer pricing documentation obligations for taxpayers. These new rules, effective since 2017, introduced substantial reporting requirements, leading to significant workload and cost for businesses. The proposed legislative changes are considered beneficial and may be introduced retroactively from January 1, 2018.
As the year 2017 concludes, we wish to provide you with an update on the REWIT Group. I am proud to speak on behalf of the Management Board and the entire REWIT team, recognizing that
Dear Sir/Madam,
As the year 2017 concludes, we wish to provide you with an update on the REWIT Group. I am proud to speak on behalf of the Management Board and the entire REWIT team, recognizing that our brand is embodied by each of our employees and the collective strength of our team.
For 23 years in Pomerania and 10 years as a Group, we have been dedicated to performing our work with enthusiasm and at the highest level. We are extremely pleased that our efforts are appreciated by our clients, whose numbers grew again in 2017, leading to a 15% increase in REWIT Group revenues.
The Group's total revenue reached PLN 10.2 million.
Our goal is to continuously improve the quality of our services in response to significant environmental changes and the individual needs of our clients, who are an invaluable source of information on how we can serve you better. To be closer to you, we now operate in 7 locations across Poland. To ensure our services are both comprehensive and specialized, the Group currently employs nearly 90 full-time staff members.
In 2017, following our clients' needs, we continued to develop new optimization services, including renewable energy audits and procurement cost optimization. Changes in tax regulations spurred the development of our tax advisory services, transfer pricing documentation, and transaction advisory, supporting increasingly complex business operations and structures. We also provided other assurance services to new clients and continued implementing International Standards on Auditing, which are reshaping our approach to audit services. We expanded our offices and workforce, including internal restructuring, management changes, and entrusting new leadership roles to more experienced employees. These efforts bring us closer to transitioning from a regional to a national company.
We are proud that our growth is made possible by you – our Clients. Thank you sincerely for all your recommendations, which help us reach new clients, open doors to new projects, and foster excellent collaboration that allows us to evolve for you.
Last year was exceptional, largely due to labor market changes, including declining unemployment and pressure for wage increases. We strive to invest in our employees' development to meet market challenges and minimize staff turnover. Therefore, we "share knowledge for mutual growth" through the REWIT Practice Academy, training not only our employees who advanced professionally, for example, by successfully passing exams for statutory auditors, but also our clients. In our "Year-End 2017" initiative alone, we trained over 150 accountants. We also initiated training in preventing fraud and embezzlement in companies. Our experts also prepared and delivered mandatory training for statutory auditors, which was highly regarded by our professional community.
Our aim is to be your business advisor and partner in an ever-changing, dynamic reality. We are committed to delivering practical value, adhering to our motto: "We do it practically." We hope these developments will lead to intensified cooperation in areas such as audit, tax advisory, and business analysis, contributing to the growth of your business.
Sincerely, Piotr Witek CEO, REWIT Group
Summary: The REWIT Group achieved a 15% revenue growth in 2017, reaching PLN 10.2 million, thanks to an expanding client base and a focus on continuous service improvement. The company now operates in seven Polish locations with nearly 90 employees, highlighting its commitment to comprehensive and specialized services. REWIT Group has actively developed new optimization services, including renewable energy audits and procurement cost optimization, and enhanced its tax and transaction advisory services to address complex business needs and regulatory changes. The company also continues to adopt International Standards on Auditing, impacting its audit services. REWIT emphasizes employee development through its Practice Academy, offering training for both staff and clients, exemplified by over 150 accountants trained in year-end closing and initiatives on fraud prevention. The Group is also conducting mandatory training for statutory auditors. REWIT Group aims to be a practical business advisor and partner, fostering collaboration in audit, tax advisory, and business analysis to drive client growth. The company is strategically moving towards becoming a national entity, supported by its recent internal developments and a strong client-centric approach.
Changes in Taxes 2 – CIT/PIT on Commercial Real Estate
2/2/2018
Introducing changes to corporate income tax arising from Articles 24b and 24c of the Corporate Income Tax Act and Article 30g of the Personal Income Tax Act, which came into force on January 1, 2018.
Introducing changes to corporate income tax arising from Articles 24b and 24c of the Corporate Income Tax Act and Article 30g of the Personal Income Tax Act, which came into force on January 1, 2018.
Changes in taxes on commercial real estate.
A minimum tax on commercial real estate amounting to 0.035% per month will be levied on owners of: commercial and service buildings (shopping centers, department stores, independent shops and boutiques, other commercial and service buildings) and office buildings (excluding post offices, city, municipal, self-government offices, ministries, and court and parliament buildings from this category), whose initial value exceeded PLN 10 million.
The new tax will not apply to real estate: used solely or primarily for the taxpayer's own needs, from which depreciation has been discontinued.
The tax base is the revenue corresponding to the initial value of the fixed asset, determined on the first day of each month based on the accounting records, reduced by PLN 10,000,000.
Therefore, the tax base will be the excess of the initial value of the real estate over PLN 10 million.
The tax will be deductible from income tax (PIT or CIT) calculated on general principles.
Summary:
Effective January 1, 2018, new regulations introduce a minimum monthly tax of 0.035% on commercial real estate. This tax applies to owners of commercial, service, and office buildings (with specific exclusions for government and judicial buildings) whose initial property value exceeds PLN 10 million. The tax base is calculated on the portion of the initial property value that surpasses PLN 10 million. However, real estate used exclusively for the owner's own needs or from which depreciation has ceased will be exempt. Importantly, this new tax is deductible from general income tax calculations (both PIT and CIT), offering a potential offset for affected businesses.
The Polish Ministry of Finance is finalizing a checklist for due diligence in domestic transactions, a process that has been ongoing for over six months. Deputy Finance Minister Paweł Gruza announced
The Polish Ministry of Finance is finalizing a checklist for due diligence in domestic transactions, a process that has been ongoing for over six months. Deputy Finance Minister Paweł Gruza announced the nearing completion of this list, explaining that parliamentary work had caused delays. The checklist aims to protect taxpayers who diligently follow its guidelines, though the Ministry acknowledges that such checklists cannot be perfectly precise or exhaustive.
The Ministry conducted consultations on the due diligence checklist from June 30 to July 28, 2017, receiving 65 opinions from individuals, companies, business organizations, and local government units. A second stage of consultations on VAT due diligence criteria took place on September 13, 2017, also chaired by Deputy Minister Gruza.
These guarantees are being introduced due to the increasing use of VAT mechanisms for illegal gains across the EU, primarily through fraudulent refund claims or failure to remit VAT payments. A common tactic involves "missing traders" who evade taxes while creating grounds for others to claim refunds. This fraudulent activity, often involving multiple entities across EU states, harms honest businesses by distorting competition and directly depletes state budgets. Even honest but careless entrepreneurs can inadvertently become involved, risking the disallowance of their input tax credits. Therefore, these new measures, developed through compromise between the Ministry of Finance and businesses, aim to provide crucial protections for taxpayers.
Private Equity as a New Global Sector. The Czech Market is Ready for It
7/10/2025
Private equity is emerging as a significant global sector, and the Czech market is ready to embrace it. Moore Czech Republic welcomes the strengthening of the private equity sector within its global M
Private equity is emerging as a significant global sector, and the Czech market is ready to embrace it. Moore Czech Republic welcomes the strengthening of the private equity sector within its global Moore Global network, appointing a dedicated global leader in response to the growing importance of private equity on the Czech market.
Private equity is a dynamic economic segment, serving as an alternative financing source and an active partner for companies during crucial transformation phases. In the Czech Republic, it's becoming a vital tool for restructuring, generational change, and growth in SMEs. Private equity investors not only provide capital but also offer active management support, often acting as mentors.
While foreign private equity focuses on large acquisitions, the Czech market primarily targets SMEs. Czech private equity investors focus on smaller and medium-sized companies, often addressing generational ownership transitions. Their role is evolving from purely financial investors to strategic partners, aiding growth, efficiency, and the creation of value-added groups.
Modern private equity investors prioritize long-term value creation through process optimization, innovation, and management motivation, significantly impacting company performance. They achieve this by leveraging synergies between acquired companies and building integrated financial-industrial groups, moving beyond basic leverage, asset sales, or cost-cutting. This shift brings new quality for original owners, who often remain as minority shareholders.
Moore Advisory CZ, part of Moore Czech Republic, provides comprehensive support throughout the investment cycle, from investor identification to post-transaction integration, leveraging relationships with Czech private equity funds to select suitable partners. The firm's success as an exclusive advisor to the MaeG Investment SICAV fund, demonstrating high returns, validates its expertise. The appointment of Candice Czeremuskin as global leader for private equity within Moore Global highlights the sector's growing significance, forming a strong team to identify opportunities for knowledge sharing and innovation, ultimately enhancing client services. Moore Czech Republic's global network access, combined with local market understanding, enables them to offer targeted, value-added services to clients.
Online learning without compromise. Online Secondary School Spektrum confirmed its quality with graduation exam results
6/30/2025
Online Learning Without Compromise. Spektrum Secondary School Confirms Quality with Matriculation Results
June 30, 2025
While most students prepare for their matriculation exams in traditional class
Online Learning Without Compromise. Spektrum Secondary School Confirms Quality with Matriculation Results
June 30, 2025
While most students prepare for their matriculation exams in traditional classrooms, graduating students from Spektrum Secondary School successfully completed their maturity exams entirely without face-to-face instruction. The results once again confirm that online education is not a compromise but a fully-fledged and successful path to secondary education.
Spektrum Digital Secondary School, based in Mladá Boleslav, offers purely online study for students across the Czech Republic. This year's graduating class achieved notable success in their May 2025 written and oral matriculation exams in Czech language, foreign languages, and vocational subjects. In the state-administered part of the exams, students from the Business Academy program ranked 20th out of 103 schools in the Central Bohemian Region for Czech language and 11th out of 101 schools for English.
Extension programs in Entrepreneurship and Social Work also saw excellent results, with students achieving 100% success in German and being the only students in the region to matriculate in Russian. This reinforces a long-term trend: the quality of online teaching at Spektrum Secondary School matches, and in some aspects surpasses, traditional in-person education.
Ilona Pilařová, the school's director, expressed immense pride in the students' achievements, highlighting how many balance their studies with demanding jobs, top-tier sports, or childcare. Their success despite the lack of daily school attendance demonstrates that motivation and support enable students to overcome challenges.
Spektrum Secondary School has exclusively offered online learning since 2015, long before the pandemic made digital education common. Its flexible system allows students to tailor their learning pace to their schedules. Online classes are held three times a week, supplemented by independent study with teacher and tutor support. Students only attend school for exams once per semester. Pilařová emphasizes the school's individual approach, working with each student's unique story and motivations.
This model is ideal for working adults, parents on maternity leave, professional athletes, individuals with disabilities, and anyone seeking an alternative to conventional schooling. The emphasis on flexibility and individual attention aligns with the EU's Digital Education Action Plan 2021–2027, which promotes personalized, inclusive, and accessible learning. European institutions increasingly advocate for hybrid and distance learning models as legitimate educational components, placing Spektrum Secondary School several years ahead.
The school is also introducing a modular learning system in September, offering students greater choice and a more university-like experience. Plans are underway to open new branches across the country to facilitate easier access for examinations. Radovan Hauk, a partner in the Moore Czech Republic group, which owns Spektrum Secondary School, stated that the school aims to be a school for life, adapting to modern realities while providing a strong foundation for the future, with student matriculation results proving the viability of uncompromising online education.
High Demands, Lifelong Learning, and AI Integration. The Face of Modern Accounting is Rapidly Changing
6/11/2025
The modern accounting profession is undergoing a dramatic transformation driven by artificial intelligence, digitalization, and a generational shift. Routine tasks are increasingly being automated by
The modern accounting profession is undergoing a dramatic transformation driven by artificial intelligence, digitalization, and a generational shift. Routine tasks are increasingly being automated by sophisticated systems, shifting the accountant's role towards data analysis, strategic, and tax advisory. This evolution is happening alongside a consolidation in the accounting outsourcing market as older firms transition and younger generations enter the field, often lacking practical experience.
Despite modernization, the profession faces declining interest, attributed to the complexity of tax and accounting systems, frequent legislative changes, and the need for continuous professional development. Simplifying legislation and reducing bureaucracy are seen as potential solutions. Technology implementation, such as specialized software for document digitization and workflow management, is becoming crucial for firms to maintain efficiency and serve diverse client needs. Remote work, electronic data exchange, and online portals are now standard, enhancing collaboration between clients and accounting firms.
Companies are increasingly outsourcing accounting due to hidden costs and risks associated with in-house departments. Outsourcing offers flexibility, scalability, and access to up-to-date legal knowledge, ensuring continuity and minimizing errors. While AI handles routine tasks, human expertise remains vital for interpreting complex transactions, advising clients, and navigating intricate situations. The future of accounting is likely hybrid, with AI-powered systems managing automation and accountants focusing on higher-level analysis, strategic advice, risk management, and client communication, requiring continuous learning and adaptation.
Digital School is among the best in the region. It allows professional athletes to study as well.
5/27/2025
The Spektrum Secondary School in Mladá Boleslav is a leading institution in its region, distinguished by its exclusively digital learning model. This approach makes education accessible to a wider ran
The Spektrum Secondary School in Mladá Boleslav is a leading institution in its region, distinguished by its exclusively digital learning model. This approach makes education accessible to a wider range of students, including professional athletes and working individuals, who often find traditional daily study challenging. The school has proven its effectiveness, ranking sixth among 17 secondary schools in the Mladá Boleslav region based on 2023/24 Czech language maturity exam results, a significant achievement for a distance learning institution.
Founded five years before the COVID-19 pandemic, Spektrum's digital model combines self-study with online lessons three times a week, allowing students to learn at their own pace. They attend school in person only once per semester for exams. The school also offers an alternative "Maturita without Study" project, enabling individuals to obtain their maturity certificate by independently preparing and passing exams. This pathway is popular for adults seeking career advancement. The school is experiencing significant growth, with student numbers increasing annually, and plans to open new branches and introduce a modular learning system inspired by higher education to cater to growing demand and diverse student needs.
The Spektrum Secondary School in Mladá Boleslav is a leading institution in its region, offering an exclusively digital learning model. This flexible approach allows students, including professional athletes and working individuals, to pursue their education despite demanding schedules. The school has demonstrated academic excellence, ranking sixth in the region for Czech language maturity exam results, proving the efficacy of its modern educational approach.
Spektrum's digital program, established pre-pandemic, combines self-study with thrice-weekly online sessions, enabling personalized learning. Students attend in-person only for semester exams. The school also facilitates an accelerated "Maturita without Study" program for adults seeking career advancement. With a rapidly growing student body, Spektrum plans to expand with new branches and introduce a modular learning system to further enhance its flexible and student-centric education.
Energy sector still faces numerous uncertainties. Transition to renewable sources hampered by fees and infrastructure
4/16/2025
The energy sector faces significant uncertainties, with the transition to renewable sources hindered by fees and infrastructure limitations. While Europe aims to combat climate change and energy depen
The energy sector faces significant uncertainties, with the transition to renewable sources hindered by fees and infrastructure limitations. While Europe aims to combat climate change and energy dependence through clean energy, the Czech Republic struggles with structural and regulatory hurdles. Massive investments, inadequate infrastructure, and a pricing structure unsuited for decentralized renewable production pose challenges.
Despite the Czech Republic's commitment to the EU's Fit for 55 plan, achieving the ambitious 2030 decarbonization and renewable energy targets is unlikely. Emissions are projected to decrease by around 45%, with renewables reaching approximately 25% of final energy consumption, falling short of the EU's goals.
While the Czech Republic has reduced reliance on solid fossil fuels, shifting towards renewables and nuclear energy, coal still constitutes a significant portion of its electricity generation compared to the EU average. Photovoltaics are experiencing a boom, but the lack of advanced storage infrastructure strains grid stability. Diversifying energy production technologies and infrastructure for energy storage is crucial.
The Czech Republic has potential in combined solar and wind energy due to complementary seasonal production. However, an undersized distribution network restricts new source connections, and unfavorable energy-sharing legislation with higher distribution fees discourages local consumption and community energy initiatives. The current electricity pricing structure, designed for centralized production, needs a review to accommodate thousands of small producers and reflect the variability of new sources.
Globally, geopolitical events have catalyzed a focus on energy independence, driving investments in decentralized renewable solutions. Strengthening domestic renewable production is key to reducing reliance on external suppliers, necessitating investments in modernizing transmission and distribution systems.
The Relationship Between the Client and the Financial Institution is Strengthened by Digital Processes and Digital Money
4/3/2025
Digital processes and digital money are strengthening the relationship between clients and financial institutions. New regulations in the UK's financial sector are enhancing consumer protection, requi
Digital processes and digital money are strengthening the relationship between clients and financial institutions. New regulations in the UK's financial sector are enhancing consumer protection, requiring financial service providers to adapt product offerings and customer care standards. This involves greater consumer input into product design and leveraging vast amounts of data, a technological revolution that refines risk assessment.
In the Czech Republic, financial institutions are also increasingly adopting technologies like Artificial Intelligence (AI). AI is crucial for competitiveness, improving customer experience, and risk management. Its applications include risk assessment, portfolio optimization, fraud detection, process automation, and document management. AI also acts as an employee assistant, minimizing errors and boosting productivity.
Another trend is the anticipated decrease in interest rates, which may lead to more loans and economic growth. However, this could also reduce net interest margins, a significant revenue source for Czech banks. Despite this, Czech banks generally enjoy high public trust, further bolstered by EU directives on consumer credit agreements, including new online products. The emergence of central bank digital currencies (CBDCs) also presents new opportunities, offering the stability of traditional currencies while potentially serving as a funding source for retail banking.
Digital processes and digital money are enhancing the client-financial institution relationship through increased consumer protection and data utilization. Financial institutions are increasingly adopting AI for improved competitiveness, customer experience, and risk management. While falling interest rates may impact net margins, public trust in Czech banks remains high, supported by evolving regulations and the potential of central bank digital currencies. These technological and regulatory shifts are reshaping the financial landscape, emphasizing transparency, efficiency, and a stronger client focus.
Talk2amy Enters a New Era Thanks to Strategic Partnership with Moore Czech Republic
4/2/2025
Talk2amy Enters a New Era Through Strategic Partnership with Moore Czech Republic
April 2, 2025
The psychological platform Talk2amy, developed by Mongata, has reached another key milestone in its de
Talk2amy Enters a New Era Through Strategic Partnership with Moore Czech Republic
April 2, 2025
The psychological platform Talk2amy, developed by Mongata, has reached another key milestone in its development. Joining forces with the renowned consulting group Moore Czech Republic opens up new possibilities for innovation, expansion, and service enhancement. This strategic collaboration will allow Talk2amy not only to continue technological development but also to expand the platform internationally and integrate it with other HR services.
The new partnership brings numerous benefits to both parties:
Continued innovation and improvements to the Talk2amy platform, Localization into additional languages for use in new regions, Expansion to include HR services provided by Moore Czech Republic, Gradual expansion into further markets within and outside the EU.
In Moore Czech Republic, Talk2amy gains a strong partner that will contribute its experience and expertise to the platform's further growth. The Moore Czech Republic group brings not only extensive know-how in consulting and strategic management but also the support of the multinational Moore Global network, which will accelerate Talk2amy's expansion beyond the Czech Republic.
"Our group has long been dedicated to providing HR consulting services, especially for medium and large enterprises. The Talk2amy platform will allow us to elevate these services to an entirely new level, not only in the Czech Republic but also throughout the entire global Moore organization. Initial feedback from international partners already shows that Talk2amy, thanks to its highly sophisticated use of artificial intelligence, represents true world-class leadership in its category. We will do everything we can to best utilize the immense potential of this platform," states Petr Kymlička, partner at Moore Czech Republic.
"Our shared goal with Mongata is not only to expand the platform for clients within the globally operating Moore consulting network but also to gradually develop the platform's reach in promising foreign markets, both in the B2B segment in cooperation with other business partners, and in the B2C segment, where we expect to significantly increase the current number of over 100,000 platform users," adds Radovan Hauk, a partner at Moore Czech Republic, regarding their plans.
Talk2amy (www.talk2amy.com) is a revolutionary psychological platform developed by Mongata, combining modern technology with psychology. The platform helps companies, professionals, and individuals better understand human personality and develop its potential. Through AI and advanced analytical methods, it offers a wide range of applications, from employee recruitment and talent management to individual development.
"Thanks to five years of development and innovation, Talk2amy has become a unique and groundbreaking solution connecting the latest technologies with psychology. Talk2amy already helps a wide range of companies, professionals, and individuals develop their human potential. It facilitates work and provides new insights in areas such as employee selection, talent development, career growth, team collaboration, and personal development. The strategic partnership with Moore Czech Republic will enable us to advance the capabilities of the Talk2amy platform to a completely new level. We will bring further innovations, expand our service offerings, and most importantly, support expansion into new markets. Moore Czech Republic represents a partner with many years of experience and global reach, who will actively contribute to the platform's continued growth," states Martin Rücker, co-founder and director of Mongata.
Mongata's psychological platform, Talk2amy, has entered a new phase through a strategic partnership with Moore Czech Republic. This collaboration aims to drive innovation, international expansion, and the integration of HR services, leveraging Moore's expertise and global network. Talk2amy, which uses AI to understand and develop human personality, is recognized for its cutting-edge technology. The partnership seeks to broaden its reach into B2B and B2C markets worldwide. Moore Czech Republic sees Talk2amy as a world-class solution, and together they plan to enhance its capabilities, introduce new services, and capitalize on its significant potential across global markets. This alliance signifies a major step forward for Talk2amy in its mission to advance human potential through technology.
Companies in 2025 face further tax changes, construction will be no exception
3/13/2025
Companies will face further tax changes in 2025, with the construction industry not being an exception.
The start of 2025 brought several tax changes impacting businesses in the Czech Republic, inclu
Companies will face further tax changes in 2025, with the construction industry not being an exception.
The start of 2025 brought several tax changes impacting businesses in the Czech Republic, including amendments to VAT law and a restriction of tax security from financial guarantees to bank guarantees. Further key tax changes are set to take effect throughout the year, significantly affecting the construction sector and the real estate market.
From January 1, 2025, VAT law was modified concerning mandatory registration. If a business's annual turnover exceeds two million CZK but not 2,536,500 CZK, they become VAT payers from January 1 of the following year, based on the full calendar year's turnover, not any consecutive 12 months. Exceeding 2,536,500 CZK during the year makes them a VAT payer from the next day. This may cause confusion and administrative complications, with the actual impact yet to be seen.
Another administrative change is the narrowing of tax security forms from financial guarantees to only bank guarantees, aimed at preventing tax evasion. Businesses will need to switch to bank guarantees, potentially increasing administrative costs.
A new rule effective May 1, 2025, will affect financial institutions by changing how savings periods are calculated when switching long-term investment product providers. This aims to offer investors more flexibility and encourage competition, but requires financial institutions to thoroughly inform clients and adapt their systems.
The construction industry and real estate market will see significant tax changes from July. Property sales will be taxed only on the first sale within two years of occupancy or significant alteration; subsequent sales will be tax-exempt. VAT rates for construction and assembly work on completed residential or social housing will change if the construction no longer meets the criteria for these types, ensuring new construction isn't disadvantaged compared to reconstructed buildings not qualifying for reduced VAT. The definition of a residential building for social housing will also be updated, expanding the application of reduced VAT rates for residential building construction.
These changes may significantly influence real estate investors and developer strategies. Increased VAT on renovations and conversions could shift investor decisions towards new construction. The construction sector has already faced changes at the year's start, including new taxation rules for forest land and adjusted tax calculations. Municipalities can also now modify tax coefficients by property type or location, potentially increasing business tax liabilities.
Home-office has transformed the job market. Will it remain common practice?
2/26/2025
The COVID-19 pandemic fundamentally reshaped the labor market, transforming home-office work from a niche practice into a significant aspect of employment. Before the pandemic, Czech Republic had a lo
The COVID-19 pandemic fundamentally reshaped the labor market, transforming home-office work from a niche practice into a significant aspect of employment. Before the pandemic, Czech Republic had a low adoption rate of remote work, with only 10% of employees working from home at least occasionally, compared to the EU average of 16%. This dramatically shifted during the pandemic, leading to a sustained increase in remote work.
Experts indicate that this trend is largely characterized by hybrid models, where employees work from home for less than half of the week. The most significant increase is seen in the 25-44 age group, with a substantial rise in remote work adoption. Preferences show that a majority of both men and women wish to work from home a few days a week. Company size is less influential than the industry; sectors like information technology, finance, real estate, and insurance have seen the highest adoption of home-office arrangements. Studies suggest that hybrid work often boosts productivity, with 77% of managers reporting increased support for remote work post-pandemic.
The advantages of home-office include flexibility, better work-life balance, and potentially less office-related distraction. However, challenges like isolation, communication difficulties, and blurred work-life boundaries exist. Long-term productivity can decline without clear structure and employee discipline. Successful implementation requires clear communication of expectations, effective performance measurement, and employee motivation.
The rise of home-office also presents opportunities for greater female labor force participation, particularly for mothers of young children, and for attracting talent from further distances. For the future, while many employees desire continued remote work options, companies must strategically assess its suitability for their specific work and ensure it doesn't hinder efficiency. Clear communication, defined expectations, and provision of necessary tools and support are crucial for successful hybrid models. The overall approach to home-office will likely vary among employers, with some mandating office returns while others embrace more flexible arrangements, but a structured approach to measuring results is key.
ANACOT CAPITAL Group Expands Again, Acquiring Blansko-Based Pistol Manufacturer Laugo Arms Czechoslovakia
1/9/2025
The engineering group ANACOT CAPITAL, led by businessman Pavel Drobil, has acquired an 85% stake in Laugo Arms Czechoslovakia, a manufacturer of high-end sports and defense pistols. The transaction, c
The engineering group ANACOT CAPITAL, led by businessman Pavel Drobil, has acquired an 85% stake in Laugo Arms Czechoslovakia, a manufacturer of high-end sports and defense pistols. The transaction, completed in December 2024, also involved the MaeG Investment SICAV fund, managed by Moore Czech Republic. J&T Banka financed the deal. Laugo Arms is renowned for its innovative design and precision engineering, particularly its flagship Alien pistol, which features a revolutionary gas-operated bolt braking system and a low barrel position, making it ideal for sport shooting. The pistol has achieved international commercial success, winning awards like the main prize at the SHOT Show in Las Vegas.
Laugo Arms has significant growth potential and international expansion ambitions that require substantial investment. The new ownership is committed to driving the company forward through capital investment and leveraging their existing manufacturing capabilities and international network. Pavel Drobil highlighted the potential for market growth and new development opportunities in collaboration with the former owner. Petr Kymlička of MaeG Investment SICAV emphasized utilizing shared manufacturing capacities and extensive business contacts for distribution and partnerships. The new owners also plan to introduce an enhanced version of the Alien pistol. Laugo Arms currently sells approximately 3,500 hand-produced Alien pistols annually, with over 40% of its revenue generated in the USA. The company, established in 2017, reported €8.2 million in revenue and €2.3 million in EBITDA in 2022, with revenues expected to exceed €12 million in the following year. ANACOT CAPITAL focuses on acquiring and developing export-oriented industrial companies, with Pavel Drobil as its sole shareholder. In 2023, the group achieved a turnover of CZK 1.9 billion and an operating profit of CZK 86 million. MaeG Investment SICAV invests in medium-sized companies within traditional industrial sectors with growth potential.
Moore Czech Republic expands to Slovakia in consulting services
12/19/2024
Moore Czech Republic Group is expanding its advisory services into Slovakia through a joint venture with Moore Slovakia. This expansion is realized by entering Radvise Group, s. r. o., a Slovakian con
Moore Czech Republic Group is expanding its advisory services into Slovakia through a joint venture with Moore Slovakia. This expansion is realized by entering Radvise Group, s. r. o., a Slovakian consulting firm serving both private and public sector clients. This move is strategically motivated by the significant presence of Moore Czech Republic's clients in both countries, aiming to offer a broader and more accessible range of services, particularly in ICT and management consulting.
The partnership leverages the existing collaboration between Moore Czech Republic and Moore Slovakia in areas like accounting, payroll, and tax advisory. The acquisition of Radvise Group, known for its expertise in process optimization, cost reduction, and performance enhancement, significantly broadens Moore's service portfolio and opens new opportunities. Radvise Group, led by Ivan Lužica, also specializes in EU-funded projects and large investment project management. Ivan Lužica will now lead Moore Consulting SK, with ambitions to establish it among the top 10 consulting firms in Slovakia. Radvise Group's integration brings over 2 million EUR in revenue and adds ten new experts to the Moore Czech Republic Group.
Staying Effective and Not Going Crazy. Moore Czech Republic Joins Global Initiative to Reduce Workplace Stress
12/17/2024
Moore Czech Republic, along with its parent network Moore Global, has joined the global Mindful Business Charter initiative to reduce workplace stress and promote employee mental well-being. This comm
Moore Czech Republic, along with its parent network Moore Global, has joined the global Mindful Business Charter initiative to reduce workplace stress and promote employee mental well-being. This commitment stems from the recognition that prolonged occupational stress negatively impacts mental and physical health, relationships, and can lead to absenteeism. Recent research indicates that a significant portion of Czechs, particularly Generation Z, experience stress that interferes with their daily lives and work, with many reporting absences due to excessive stress.
As a new member of the Mindful Business Charter, Moore Czech Republic pledges to implement measures that support employee well-being, such as efficient meeting management, reducing unnecessary emails, and respecting downtime. The company already practices these principles and sees participation as a demonstration of their commitment to a healthier work environment. They aim to inspire and share experiences with other companies to foster positive change. The charter's framework emphasizes openness, respect, communication, and considerate delegation, all crucial for combating stress-related issues like fatigue and burnout. Moore Czech Republic actively organizes workshops, like "How to Stay Effective and Not Go Crazy," offering practical stress-management tips. They also engage in initiatives like the "Moore to the Moon" challenge, encouraging physical activity, and local "WALKING CHALLENGE 10K" events, linking employee health with charitable contributions. These efforts underscore their dedication to achieving results while ensuring employee well-being.
Retraining as an elevator to higher floors of professional and salary levels. Interest is growing, support is not.
12/5/2024
Czech Republic's utilization of retraining courses lags behind the EU average, despite growing interest and their crucial role in adapting to digital transformation. While 8.3% of Czechs aged 25-74 pa
Czech Republic's utilization of retraining courses lags behind the EU average, despite growing interest and their crucial role in adapting to digital transformation. While 8.3% of Czechs aged 25-74 participated in retraining in the four months before data collection, the EU average is 12.7%. The analysis highlights that higher education and specialization are vital for shifting the Czech economy from assembly to innovation.
In the first half of this year, 20,118 people enrolled in retraining, a 39% increase year-on-year. Digital education, funded by the National Recovery Plan, accounted for nearly half of these programs, reflecting employers' declining interest in low-skilled roles. Those with basic, vocational, or secondary vocational education without a trade are most frequently seeking new or advanced skills.
Continuous learning and skill adaptation are crucial for career advancement, offering opportunities for better jobs, promotions, or entirely new career paths. Retraining acts as a catalyst for positive personal, societal, and economic change. Beyond formal retraining, other educational avenues like lifelong learning programs and distance high school studies also facilitate career transitions.
The article cites examples of individuals successfully changing careers through further education, including a cleaner pursuing a teaching role and a renowned hockey player obtaining a coaching license after completing high school. Educational institutions are increasingly incorporating AI basics into online learning, emphasizing its practical application. Proficiency in AI tools is becoming essential in both personal and professional life, with retraining and further education playing a pivotal role in societal digital transformation.
Over half of retraining participants are between 35 and 55 years old. However, individuals over 55 also represent a valuable, experienced, and motivated workforce. Employers should consider their needs, as flexibility and support for learning new technologies are key motivators for this demographic. Personal motivation and overcoming challenges like lack of employer/family support, financial constraints, time limitations, and fear of new technologies are crucial for successful retraining. The article concludes that it's never too late to learn, and obstacles are meant to be overcome.
ESG Reporting Subject to New Rules. Its Form Will Be Determined by the CSRD Directive from the New Year.
12/3/2024
ESG reporting is subject to new rules, with the CSRD directive setting the standard from the new year. The European CSRD (Corporate Sustainability Reporting Directive) introduces strict new regulation
ESG reporting is subject to new rules, with the CSRD directive setting the standard from the new year. The European CSRD (Corporate Sustainability Reporting Directive) introduces strict new regulations for non-financial reporting, fundamentally changing how companies report their sustainability activities. This regulation mandates standardized ESG (Environmental, Social, Governance) data reporting, requiring companies to provide credible and transparent information on their environmental, social, and governance impact. The goal is to create consistent, comparable reports for investors and stakeholders to better understand and evaluate corporate sustainability.
Preparing for these stricter ESG reporting requirements under CSRD is crucial. Gone are the days of loosely defined ESG reports; sustainability reports will now have clear rules and undergo mandatory audits. Inconsistent or non-transparent data can lead to reputational and legal issues. Companies must conduct a mandatory double materiality analysis, assessing both the company's impact on the external environment and society (external materiality) and how external factors influence the company (internal materiality), identifying risks and opportunities according to ESRS standards.
The CSRD aims to standardize ESG reports and prevent greenwashing, ensuring transparency backed by data. Integrating ESG into corporate strategy and fostering cross-departmental collaboration are key for long-term success. Beyond compliance, companies should strive to be sustainability leaders to gain competitive advantages, not just meet legal obligations.
Moore Czech Republic expands its operations again – enters PP Business Services and AK AUDIT
11/27/2024
Moore Czech Republic, a consulting, auditing, and technology group, has expanded its operations by acquiring PP Business Services and AK AUDIT. This strategic move strengthens Moore Accounting CZ, whi
Moore Czech Republic, a consulting, auditing, and technology group, has expanded its operations by acquiring PP Business Services and AK AUDIT. This strategic move strengthens Moore Accounting CZ, which specializes in accounting outsourcing, payroll processing, and tax consulting, and also broadens the client base for Moore Audit CZ.
The acquisitions enhance Moore Czech Republic's offerings in accounting outsourcing, payroll, financial services, tax advisory, statutory audits, and other audit services. PP Business Services, originally a merger of legal experts and financial professionals, aligns with Moore Czech Republic's growth strategy, focusing on organic expansion and strategic acquisitions.
According to Petr Kymlička, managing partner of Moore Czech Republic, PP Business Services brings valuable expertise, particularly in serving CFOs, which will advance the group's management consulting services.
AK AUDIT, established in 1997, is recognized for its strong presence in audit, tax, accounting outsourcing, and payroll. With a team of 15, it serves a diverse clientele, offering comprehensive support and representation before authorities. Erik Ďurkáň, partner at Moore Audit CZ, highlights the shared commitment to high-quality audit services and expects to leverage synergies in expanding ESG and sustainability audits.
These acquisitions add approximately 25 employees and over 22 million CZK in annual revenue to Moore Czech Republic, which currently boasts around 70 audit specialists and over 110 professionals in payroll, accounting, and tax advisory.
NIS2 as a Great Unknown. Few are aware of the key cybersecurity directive
11/11/2024
The Czech Republic is implementing the EU's NIS2 directive with a new cybersecurity law, aiming to bolster businesses and public institutions against cyberattacks. Despite its significant impact on th
The Czech Republic is implementing the EU's NIS2 directive with a new cybersecurity law, aiming to bolster businesses and public institutions against cyberattacks. Despite its significant impact on thousands of companies across various sectors, awareness of NIS2 remains very low. A survey by Moore Czech Republic revealed that nearly three-quarters of respondents had not heard of the directive. Of those who had, many had only partial knowledge.
The new law, expected to enter force next year, will extend cybersecurity obligations to approximately 10,000 companies, including energy providers, airlines, hospitals, and water suppliers. Currently, only a quarter of organizations have a comprehensive implementation plan, with many lacking any roadmap at all. Key barriers to implementation include a lack of funds and expertise, as well as the complexity of legislative requirements. While those aware of NIS2 perceive it positively as an opportunity to enhance customer trust and security, many essential measures like incident response plans are still uncommon.
NIS2 aims to strengthen the security of networks and information systems, requiring regulated service providers to report to the National Cyber and Information Security Agency, implement security measures, and report cyber incidents. Many companies have already adopted some basic security practices like employee training and data backups, but more advanced measures are less widespread. The directive introduces significant regulatory changes for a broad range of private and public entities.
Companies enter a new era of mandatory ESG reporting. The reason is the CSRD directive
10/15/2024
Companies are entering a new era of mandatory ESG reporting due to the CSRD directive. The Corporate Sustainability Reporting Directive (CSRD) is significantly expanding ESG reporting obligations for
Companies are entering a new era of mandatory ESG reporting due to the CSRD directive. The Corporate Sustainability Reporting Directive (CSRD) is significantly expanding ESG reporting obligations for European firms, requiring mandatory reporting of non-financial activities. This directive builds upon the previous NFRD but covers a much wider scope.
CSRD applies to all large EU companies meeting at least two of three criteria: over 250 employees, annual turnover exceeding €50 million, or assets over €25 million. This will impact an estimated 250 companies in the Czech Republic, and over 50,000 across Europe by 2026. Companies already under NFRD must report for fiscal year 2024, while other large companies will start reporting for fiscal year 2025. Listed SMEs will be required to report from 2026, with a potential two-year voluntary deferral.
Key requirements include reporting according to unified European Sustainability Reporting Standards (ESRS) for consistency and comparability, and independent verification of ESG data to enhance credibility. The directive also emphasizes "double materiality," meaning companies must consider both their impact on the environment and society, and how external factors affect their business.
Implementing ESG is becoming crucial for strategic management, offering benefits such as reduced risk, better capital access, and increased trust from investors, customers, and employees. It enhances reputation and attractiveness in the market, as investors increasingly prioritize transparent and sustainable strategies, driven by concerns like climate change. This directive marks a new era where ESG is integral to long-term business success.
VAT Law Amendment: Simplification Promises Accompanied by Fears of Excessive Paperwork
8/28/2024
Amendments to the VAT Law: Promises of simplification are accompanied by concerns about excessive paperwork
The Chamber of Deputies is returning to the discussion of amendments to the Value Added Tax
Amendments to the VAT Law: Promises of simplification are accompanied by concerns about excessive paperwork
The Chamber of Deputies is returning to the discussion of amendments to the Value Added Tax Act after the recess. This is a comprehensive revision from the Ministry of Finance that introduces numerous changes, both major and minor, into current legislation. Key changes relate to turnover parameters determining VAT registration obligation, the deductibility of input tax, and new provisions in construction. While the amendment promises to simplify existing procedures, it will also increase the administrative burden, particularly for small businesses. Larger companies, however, will not be significantly affected in this regard.
Lawmakers have discussed the amendment in its first reading. The Budget Committee of the Chamber will now take over. If the amendment passes through the legislative process, it is expected to become effective from January 1, 2025. From that date, the calculation of a company's turnover for mandatory VAT registration will be adjusted. The two-million-crown limit remains, but instead of the twelve preceding consecutive calendar months, turnover will be determined annually. If a business exceeds two million crowns in turnover during a given year, they will become a VAT payer from the beginning of the following year.
However, a different situation arises if the turnover exceeds 2,536,500 crowns, which is equivalent to the EU threshold of 100,000 euros. In this case, entities become VAT payers the next day.
One significant change is that if a customer fails to pay a supplier within six months of the due date, they will have to repay the deducted input tax. This raises concerns about administrative complexity in monitoring and complying with this rule, especially for small businesses and companies that settle mutual receivables and payables collectively, for instance, through offsetting.
The amended VAT Act also extensively addresses the construction sector. It shortens the period for taxing the first transfer of real estate from five years to two years (or 23 months) from completion or substantial alteration. New definitions for substantial alteration, social housing, and building plots are also introduced, clarifying when land delivery may be VAT-exempt based on official documentation.
While these changes might positively impact new construction prices, other factors influencing real estate costs must be considered. The text highlights Czech Republic's poor housing affordability compared to other EU countries and the length of construction procedures, suggesting that the amendments may not bring significant improvements in these areas.
Summary:
A proposed amendment to the Czech Value Added Tax (VAT) Act, set to take effect January 1, 2025, aims to simplify VAT registration and procedures. A key change alters the turnover threshold for mandatory VAT registration from a 12-month rolling period to an annual basis. Businesses exceeding two million Czech crowns in turnover within a calendar year will become VAT payers from the following year. However, exceeding a slightly higher EU threshold of 2,536,500 crowns (approx. €100,000) will trigger immediate VAT payer status the next day, potentially creating administrative complications.
Another significant change requires businesses to repay deducted input tax if a customer's payment is overdue by more than six months after its due date, raising concerns about increased administrative burden for monitoring these obligations, particularly for small businesses and those using netting arrangements. The amendment also revises rules for the construction sector, shortening the period for taxing the first property transfer and introducing new definitions for significant property alterations, social housing, and building plots. While some changes might influence property prices, experts express skepticism about their ability to significantly improve housing affordability or speed up construction procedures in the Czech Republic.
Changes in DPP and DPČ may negatively impact employment flexibility in the Czech Republic
7/15/2024
Changes in DPP and DPČ may negatively impact employment flexibility in the Czech Republic.
Effective July 1, 2024, new regulations mandate that employers must report all "agreements to complete work"
Changes in DPP and DPČ may negatively impact employment flexibility in the Czech Republic.
Effective July 1, 2024, new regulations mandate that employers must report all "agreements to complete work" (DPP) to the Czech Social Security Administration (ČSSZ) monthly. This applies to all DPPs, including those below the CZK 10,000 threshold not subject to insurance contributions. Employers must submit a report by the 20th of the following month, detailing employee start and end dates and income. While the core DPP framework remains unchanged, this new reporting requirement significantly increases administrative burdens and costs for businesses.
Experts warn that this added bureaucracy could make employers less willing to utilize DPPs for short-term tasks, potentially hindering their ability to respond to market demands and reducing overall labor market flexibility. Companies may shift towards full-time employment or outsourcing to OSVČ. The government's aim is greater transparency and improved employee conditions, but the practical implementation raises concerns.
The article also highlights the need for greater flexibility in the Czech labor market, citing lower rates of part-time employment and lower maternal employment compared to the EU average. Remote work and flexible working hours are also discussed as ways to enhance flexibility, particularly for older workers and mothers. Investing in lifelong learning and reskilling is crucial to help the workforce adapt to technological advancements and a dynamic job market.
The sustainability of energy companies is becoming paramount from an investor's perspective
6/13/2024
Sustainability is becoming paramount for energy companies from an investor perspective. The transition from fossil fuels to renewable energy sources is gaining momentum, making sustainability a top pr
Sustainability is becoming paramount for energy companies from an investor perspective. The transition from fossil fuels to renewable energy sources is gaining momentum, making sustainability a top priority. Investors are increasingly scrutinizing companies' sustainability efforts and incorporating them into their investment decisions, pushing businesses to adopt new technologies and accelerate their shift to renewables.
This trend was amplified after global leaders at COP28 in Dubai unexpectedly supported the transition to clean energy. Fifty major oil and gas companies pledged to achieve near-zero methane emissions by 2030 and net-zero carbon emissions by 2050 in energy production and utilization.
Petr Nakládal, Senior Manager of Energy Portfolio Management at Moore Czech Republic, highlights that this communiqué marks the first agreement on a phase-out of coal, oil, and gas in nearly three decades of negotiations. He emphasizes that while sustainability is embedded in boardrooms, investor pressure for transparency in ESG reporting, regular audits, and clear strategies for increasing sustainable energy use is growing.
Energy companies are consequently investing heavily in technologies and practices that enhance operational energy efficiency, including advanced monitoring systems, energy-efficient equipment, and processes that minimize energy consumption. They are also replacing older infrastructure with more efficient and environmentally friendly solutions, such as using solar energy to produce steam for enhanced oil recovery. AI is proving valuable in analyzing and implementing these technologies, though achieving sustainability goals remains challenging due to the need for further technological development and implementation.
The Czech government also recognizes the importance of energy transformation, approving a significant amendment to the energy act (Lex OZE II). This legislation facilitates the formation of energy communities, allowing public sector entities, households, and businesses to share electricity. Tomáš Křapáček, Senior Manager at Moore Advisory CZ, notes that rising energy prices underscore the need for strategic energy solutions, boosting the communal energy trend. The first step involves developing local energy concepts, which the Ministry of Industry and Trade is financially supporting to help municipalities identify inefficiencies and implement conceptual solutions. This decentralization through community energy will enable efficient local consumption of electricity near its point of generation. Municipalities can apply for this funding until June 30, 2025, or until the allocated funds are depleted.
No Real Estate Bubble Threatens the Czech Republic Despite Significant Price Growth
6/5/2024
Despite significant property price growth, the Czech Republic is not facing a real estate bubble. Property prices in the Czech Republic have risen considerably in recent years, particularly in and aro
Despite significant property price growth, the Czech Republic is not facing a real estate bubble. Property prices in the Czech Republic have risen considerably in recent years, particularly in and around major cities. This surge is attributed to a confluence of factors including a shortage of new apartments, lower mortgage interest rates, and increasing demand from both investors and homebuyers. Eurostat data confirms this trend, showing a 126% increase in property prices between 2010 and 2022, far exceeding the EU average of 47%. Rental prices have also climbed, though less dramatically.
While the situation is challenging, experts like Bedřich Skalický from Moore Advisory CZ and Tomáš Odstrčil from Evropa v datech argue against an impending market collapse. They note that banks are more cautious with lending, mortgage regulations have tightened, and individuals are more financially aware. This is leading to a cooling market rather than a crash. However, affordability remains a significant issue, with Czechs needing 14.9 years of salary to buy a new apartment, double the rate in some Western European countries.
Skalický advises potential homebuyers not to postpone purchases based on speculative market predictions, emphasizing that buying property is a long-term decision tied to current needs and capabilities. The high demand from both owner-occupiers and investors, coupled with a persistent undersupply of new properties and lengthy building permit processes, continues to drive prices up in desirable locations. This imbalance suggests that while prices might stagnate or slightly decrease in the short term, a drastic market fall is unlikely, with stability and resilience underpinning the market.
Economic Analysis of Moore Czech Republic Confirms Profitability of Investment in Ještěd Cable Car
5/30/2024
Economic analysis by Moore Czech Republic confirms the profitability of the Ještěd cable car investment.
A single-cabin cable car, favored by Liberec residents, councilors, and representatives, will
Economic analysis by Moore Czech Republic confirms the profitability of the Ještěd cable car investment.
A single-cabin cable car, favored by Liberec residents, councilors, and representatives, will require a higher initial investment but is the most economically advantageous long-term option. This conclusion comes from the study "Business Plan for the Restoration and Operation of the Horní Hanychov – Ještěd Cable Car," prepared by Moore Czech Republic for the statutory city of Liberec. The study's objective was to create an economic model and evaluate financial parameters for the project.
The recommended option is a two-rope system with a single cabin on an extended route from Horní Hanychov to Ještěd. The total investment, including the cable car, construction, land acquisition, and related costs, is estimated at up to 750 million Czech Koruna, with a projected payback period of 15.5 years. Demolition and construction are slated to begin at the end of 2026, with the new cable car expected to open in January 2029. The average fare is calculated at 326 CZK, with significant discounts planned for Liberec residents.
The extended route, despite higher initial costs, is deemed more beneficial due to direct connections to public transport and central parking, ensuring greater utilization. The accessible and barrier-free design is expected to attract more passengers. The chosen Funifor technology, often referred to as a "tram," offers lower investment and operating costs, can function in adverse weather, and allows for an intermediate station. This intermediate station would serve skiers in winter, further boosting the cable car's tourism potential.
City representatives finalized the cable car's design in late April, aligning with the council's earlier vote and the results of a public poll involving 1668 respondents. Over 58% of respondents favored the two-rope cabin, dubbed the "tram," indicating public and expert consensus. Out of six considered variants, including those on the existing 1.2 km route and the extended 1.97 km route to Horní Hanychov, the "tram" variant with a single cabin for 80-100 people on two ropes was selected. The cable car has been out of service since a tragic accident in October 2021 and is being purchased from Czech Railways by the city for 34.976 million CZK.
Hospitality: Check-in to a Year of Growth and Digital Change. The Biggest Problem in the Czech Republic is Short Tourist Stays
5/16/2024
The hospitality sector is experiencing a year of growth and digital transformation, moving beyond pandemic impacts with many hotel groups achieving record occupancy and profitability. This year focuse
The hospitality sector is experiencing a year of growth and digital transformation, moving beyond pandemic impacts with many hotel groups achieving record occupancy and profitability. This year focuses on technological innovation, particularly advanced Artificial Intelligence (AI) applications, shifting from basic chatbots to sophisticated solutions for revenue management, security, and energy control. The global hospitality AI market is projected to reach $8.12 billion by 2033.
The trend of "bleisure" (business + leisure) travel is growing, with global business travel spending expected to surpass pre-pandemic levels in 2024, contributing to longer stays and increased spending. Investor interest in hotels remains strong due to their dynamic pricing and occupancy trends, distinguishing them from other commercial properties. Major hotel chains are pursuing expansion in emerging regions like the Middle East, Southeast Asia, and popular European destinations.
However, the sector faces challenges including geopolitical risks, economic slowdowns, rising operational costs, and a persistent shortage of skilled labor. In the Czech Republic, while the sector saw a rebound in 2023, with over 22 million tourists, the primary issue remains the short duration of tourist stays. This is partly due to a shift towards visitors from neighboring countries and a lack of long-stay tourists from regions like Asia. Prague, in particular, is affected by limited intercontinental air connectivity. Adapting to digitalization, sustainability, personalized services, and effective state promotion are crucial for the Czech hospitality industry to attract longer-staying international visitors.
Despite the labor shortage, Czechs over 55 believe that finding a job is a problem due to age.
5/6/2024
Despite labor shortages, Czechs over 55 believe age is a barrier to finding work. A survey by MOORE Czech Republic reveals that 85.2% of Czechs over 55 feel age is a major obstacle to employment, with
Despite labor shortages, Czechs over 55 believe age is a barrier to finding work. A survey by MOORE Czech Republic reveals that 85.2% of Czechs over 55 feel age is a major obstacle to employment, with nearly half strongly agreeing. Both the 55-59 and 60-65 age groups share this sentiment. Marcela Hrdá from MOORE Czech Republic points out that while the Czech labor market is overheated, companies struggle to attract older workers, who often possess valuable skills, language abilities, and experience.
Hrdá warns that the low unemployment rate isn't necessarily positive for the Czech economy, hindering recovery and competitiveness. She urges companies to create part-time opportunities and support environments to retain employees over 55. The survey also shows that nearly 70% perceive employer concerns about older employees keeping up with technology, while 64% believe companies simply prefer younger workers. Over half believe that firms are prejudiced against the productivity and motivation of older workers.
Hrdá suggests that companies need to overcome these biases and undergo a mental transformation in their HR policies. Flexibility is a key factor for older employees, but nearly 60% perceive a lack of it from employers. Respondents suggested that employers would welcome flexible working hours, technology training, and health support. 46.5% think more awareness about the benefits of older workers would help, and nearly a third want more information about suitable job opportunities. Many older employees feel they could contribute more to their current employers. The survey was conducted by MOORE Czech Republic in April 2024 on a sample of 600 employed respondents over 55.
Automotive suppliers face complex investment decisions as major car manufacturers signal that electric vehicles (EVs) aren't the only future path. Stagnating EV sales prompt a more pragmatic approach,
Automotive suppliers face complex investment decisions as major car manufacturers signal that electric vehicles (EVs) aren't the only future path. Stagnating EV sales prompt a more pragmatic approach, with traditional combustion engines and "e-fuels" retaining their role. While EV sales are expected to rise globally, growth varies across markets, with Europe expected to stagnate, US sales potentially hindered by political factors, and China's growth slowing. Toyota's chairman predicts EVs will never exceed 30% of global sales, favoring alternative fuels like hydrogen.
This uncertainty challenges suppliers, especially those in Tier 1 and Tier 2 of the supply chain. Tier 1 suppliers grapple with allocating R&D budgets across different powertrains, while Tier 2 suppliers, producing specialized components, face difficult transitions. Shifting from combustion engine parts to EV components demands time and investment, a challenge for smaller, often family-owned businesses reliant on internal funding and bank loans. The industry's low margins and pressure from manufacturers to lower costs further complicate matters.
This situation will likely lead to consolidation among traditional suppliers, attracting private investment and fostering collaboration within the supply chain. The uncertainty could also spur a new ecosystem with closer ties between manufacturers and suppliers, potentially enabling companies to manage both combustion engine and EV technologies. Czech suppliers also face these challenges, adapting to new trends while navigating labor shortages and cost pressures.
The Fourth Industrial Revolution Is Just Beginning
3/1/2024
Moore Global's analysis highlights key trends in industrial manufacturing and distribution for 2024, emphasizing the transformative power of artificial intelligence and advanced analytics. AI offers o
Moore Global's analysis highlights key trends in industrial manufacturing and distribution for 2024, emphasizing the transformative power of artificial intelligence and advanced analytics. AI offers opportunities for optimized production and data-driven decision-making, but requires careful management of trust in digital technologies. The trend of manufacturing repatriation is also gaining momentum, driven by supply chain vulnerabilities exposed by the pandemic and geopolitical instability. Companies are shifting away from "just-in-time" models towards more resilient industrial ecosystems.
AI's impact extends to predicting customer behavior, forecasting trends, and modeling strategic scenarios. However, realizing AI's benefits requires investment in employee skills and real-time data accessibility across departments. While AI simplifies key performance indicators and enhances decision-making through data visualization tools, managers must be cautious about blind trust, ensuring data accuracy and validation.
Implementing these technologies demands resources, time, and substantial investment, complicated by high borrowing costs and economic uncertainty. Efficient financial management is crucial, particularly for companies reliant on complex supply chains disrupted by recent global events. Geopolitical instability exacerbates these challenges, prompting a shift away from the traditional "just-in-time" model. Manufacturing repatriation is accelerating, with increased investment in domestic production in the US and Europe, supported by government incentives. Businesses are prioritizing proximity to consumers, driving new factory openings in these regions, which is enhancing countries' economic independence.
Technology in finance is accelerating significantly, artificial intelligence plays a major role
金融科技发展显著提速,人工智能正发挥着核心作用。
2/9/2024
Technology is rapidly accelerating in the financial sector, with artificial intelligence (AI), machine learning, and blockchain leading the charge. A Moore Global analysis indicates that these digital
Technology is rapidly accelerating in the financial sector, with artificial intelligence (AI), machine learning, and blockchain leading the charge. A Moore Global analysis indicates that these digital tools offer potential for increased efficiency, higher margins, and fewer customer complaints, but also pose risks if not properly understood and mitigated.
The financial industry has transformed significantly in the last 25 years due to technology, from smartphone apps to blockchain, enabling customers to access a wider range of financial products and make decisions faster. AI, initially researched in the 1950s, saw slow adoption until major technological advancements in Silicon Valley spurred the "fintech" boom. Customer demand for internet banking drove changes in service distribution, data protection, and fraud prevention. Financial firms sought to improve customer service, boost profit margins, and attract investors.
AI enhances accuracy and efficiency, enabling personalized product recommendations, fraud detection through transaction analysis and behavioral biometrics, risk assessment, and climate change modeling for insurance. However, reliance on data requires accuracy, and regulators are struggling to keep pace. The EU's AI Act aims to classify technologies by risk and impose varying levels of restrictions.
While regulations are necessary, they risk stifling innovation. The next phase of technological revolution in financial services may only last five years, putting immense pressure on developers, investors, and regulators. Despite regulation concerns, AI offers unprecedented benefits to the financial sector, including increased efficiency, improved customer protection, product innovation, and better decision-making, such as real-time fraud detection, personalized services, and automated tasks.
Community energy can transform the Czech Republic, with the state supporting cities and municipalities in their energy transition. The recent amendment to the Energy Act, Lex OZE II, paves the way for
Community energy can transform the Czech Republic, with the state supporting cities and municipalities in their energy transition. The recent amendment to the Energy Act, Lex OZE II, paves the way for community energy development. A crucial initial step is creating a local energy concept, for which significant subsidies are available through the Ministry of Industry and Trade (MPO) from the National Recovery Plan. Municipalities can apply online until June 30, 2025.
Developing a local energy concept helps municipalities understand their energy balance, identify inefficiencies, and target energy measures effectively. Tomáš Křapáček from Moore Advisory CZ emphasizes the need for strategic energy planning, advising municipalities to prioritize development activities based on return on investment. He cautions against solely focusing on solar panels, advocating for comprehensive energy solutions. Subsidies cover 85-95% of eligible costs.
These concepts allow detailed assessment, inventory of consumption points, and creation of a complete energy balance, encompassing municipal property, the business sector, and households. This fosters collaboration and is a stepping stone to community energy, enabling calculation of energy and economic impacts of shared energy flows. Lex OZE II facilitates energy sharing among public sector entities, households, and businesses. Decentralized energy, complementing centralized systems, allows efficient local consumption. Local energy concepts also propose energy solutions, estimate investments, and evaluate returns, enabling data-driven decisions and promoting renewable energy use.
A Moore Global study reveals that hybrid work models are boosting productivity among medium-sized businesses across key global economies, leading to increased support for this flexible arrangement. Th
A Moore Global study reveals that hybrid work models are boosting productivity among medium-sized businesses across key global economies, leading to increased support for this flexible arrangement. The research, involving nearly 2,000 leaders in 12 countries, found that most sectors, excluding hospitality, tourism, and manufacturing, have increased remote work support since the COVID-19 pandemic. A significant 77% of leaders reported greater remote work support post-pandemic, with 62% noting a positive impact on productivity. Industries like energy, utilities, property management, IT, and automotive have shown particularly strong support, exceeding 80%.
Hybrid work offers benefits to both employees and employers, including enhanced flexibility, better work-life balance, and reduced stress for employees, alongside increased productivity, cost savings on office space, and greater talent attraction for employers. Challenges include maintaining company culture, communication, and collaboration among remote workers. Effective hybrid models require careful planning, clear communication, and appropriate technology. E-commerce development has also seen a rise, with 68% of companies increasing support for online activities.
Tax increases for companies and changes in benefits for families: What awaits us in the new year 2024
12/27/2023
In 2024, Czech Republic faces significant tax changes. Corporate income tax rises from 19% to 21%, increasing firms' tax burden by about 10%, potentially impacting investments and competitiveness. Tax
In 2024, Czech Republic faces significant tax changes. Corporate income tax rises from 19% to 21%, increasing firms' tax burden by about 10%, potentially impacting investments and competitiveness. Tax deductibility for non-cash employee benefits is restricted, adding administrative burden and reducing their appeal. A limit of 2 million CZK is set for car depreciation, with exceptions for zero-emission vehicles. Gifting of silent wine is now non-deductible, and reporting requirements for foreign income are narrowed.
For individuals, the spousal tax credit is limited to those with children under three, and the tax credit for kindergarten placement is eliminated, raising taxes for families with young children. The student tax credit is also scrapped. The threshold for the 23% personal income tax rate is lowered, affecting higher-income earners. Non-financial benefits face a limit of half the average wage, increasing the tax burden for employees. Planned restrictions on agreements for work performed (DPP) are delayed to July 2024 and under review.
Capital gains from the sale of shares and securities will be limited from 2025. Social security and health insurance contributions for the self-employed will increase.
The VAT rate for food decreases from 15% to 12%, though retailers are considering price hikes. Two reduced VAT rates merge into a single rate of 12%. Books are now VAT-exempt, and VAT deductions for car purchases are capped.
The benefits of artificial intelligence for business are growing, and so are investments in it.
12/10/2023
The benefits of artificial intelligence for business are growing, and so are investments in it.
December 10, 2023
A new study by Moore Global shows that artificial intelligence (AI) is becoming a ke
The benefits of artificial intelligence for business are growing, and so are investments in it.
December 10, 2023
A new study by Moore Global shows that artificial intelligence (AI) is becoming a key part of many companies' growth strategies. Three-quarters of large and medium-sized businesses worldwide have increased their AI investments in the last four years, confirming growing business interest in this technology. The main benefits of AI include increased productivity and improved customer experience, with only 22% of companies viewing AI as a means to reduce staff or payroll costs. The study also suggests that most executives consider AI a key investment with a positive impact on their companies' future financial performance and sustainability.
Most large and medium-sized businesses globally view artificial intelligence (AI) as a growth opportunity, despite ongoing discussions about its impact on humanity. While existential debates occur in the public sphere, business leaders continue to invest in AI. The AI market was valued at approximately $100 billion in 2021, but this is estimated to increase to roughly $2 trillion by 2030.
Moore Global investigated the attitudes of top managers towards artificial intelligence. The analysis of AI opinions confirmed high interest in its business application: 77% of companies have increased AI investment or usage in the last four years, indicating that the vast majority of businesses are exploring how this technology can improve their operations. Companies with at least 250 employees implementing AI fastest saw an average revenue increase of 15% between 2019 and the present, more than double that of companies that have halted AI investment or usage.
Key Findings: Only 4% of businesses don't expect AI's role to expand. 56% of executives see AI as an opportunity, compared to 23% who see it as a threat. 65% anticipate increased AI usage in the next three years and beyond. The most cited benefits are productivity (48%) and improved customer experience (43%). Only 22% view AI as a tool for staff reduction.
Summary:
A Moore Global study reveals that 77% of large and medium-sized businesses have boosted their AI investments over the past four years, highlighting AI’s growing importance in corporate growth strategies. The primary drivers for AI adoption are increased productivity (48% of decision-makers) and enhanced customer experience (43%). Significantly, only 22% of companies view AI as a means to reduce headcount or costs, countering the narrative that AI is solely about job displacement. Executives largely perceive AI as an opportunity (56% vs. 23% seeing it as a threat) and a crucial investment for future financial performance and sustainability. Companies with rapid AI adoption have experienced higher revenue growth, underscoring the tangible business benefits. The vast majority (65%) expect AI usage to increase in the coming years, signalling a strong future for AI integration in business operations.
Whistleblower Protection: 42% of Employees Fear Retaliation
12/5/2023
Whistleblower Protection: 42% of Employees Fear Retaliation
December 5, 2023
A new whistleblower protection law has been in effect for over four months, introducing key changes for companies with mo
Whistleblower Protection: 42% of Employees Fear Retaliation
December 5, 2023
A new whistleblower protection law has been in effect for over four months, introducing key changes for companies with more than 250 employees. However, according to research by Moore Czech Republic, only 44% of employees in these companies are aware of the obligation to establish internal reporting systems. While 70% of employees are willing to report illegal activities, 42% fear retaliation.
"The findings also indicate shortcomings in reporting methods and the need for better employee information and education. Education and building trust are crucial for the success of the law, which is a key element in the fight against corruption and in strengthening transparency in the Czech Republic," comments Petr Štětka, senior manager at the consulting group Moore Czech Republic.
The new whistleblower protection law, also known as the "whistleblower" law, came into effect on August 1st of this year. Whistleblowers are now expected to play a significant role in reporting illegal activities within organizations and companies. The legislative change initially affects businesses and other employers with more than 250 employees, municipalities with over 10,000 inhabitants, and public procurers with more than 50 employees.
"Companies with 50 to 249 employees have until December 15th by law to prepare an effective reporting system. Unfortunately, many of them seem not to be taking this opportunity seriously and are leaving implementation to the last minute," points out Petr Štětka.
Employees are in the dark. One of the main provisions of the law is the obligation for employers to implement an internal reporting system. Through this system, whistleblowers have the opportunity to report unfair practices, and the system is intended to ensure their protection. According to Moore Czech Republic's research, however, only 44% of employees in companies with over 250 employees are aware of the existence of internal reporting systems that are now mandatory.
"The whistleblower protection law represents a significant step towards strengthening transparency and corporate culture. However, the research showed that almost a quarter of employees are not aware of such a system at all, and a third are unable to answer the question. This highlights the need for better employee information and education in this area," says Petr Štětka.
Despite low awareness, employee willingness to report wrongdoing is surprisingly high, with nearly 70% ready to do so. However, 42% of employees fear potential negative consequences, indicating that corporate culture and awareness of legal protections are vital. Current reporting methods are also a concern, with personal reporting being the most common, potentially deterring whistleblowers due to anonymity and retaliation fears. More sophisticated methods like hotlines and apps are less frequently used.
The research clearly shows that while the whistleblower protection law is a step in the right direction, focusing on education and building employee trust is essential. Success depends not only on implementation but also on a shift in mindset. Creating an environment where employees feel safe to use reporting systems is crucial for the Czech Republic's efforts to increase transparency and combat unfair practices.
A survey conducted in late November 2023 among 530 employees in companies with over 250 staff revealed that only 44% are aware of mandatory internal reporting systems. Despite this, 70% of employees are willing to report illegal acts, though a significant 42% fear retaliation. The research also highlighted a lack of awareness regarding reporting methods, with personal reporting being the most common, followed by email and traditional written methods. More advanced channels like specialized helplines and apps are less prevalent.
The study emphasizes the critical need for better employee education on reporting systems and channels to foster a culture of transparency and trust. Companies that successfully implement these systems can mitigate reputational risks and prevent damaging situations. Moore Czech Republic offers comprehensive solutions for whistleblower protection, including system implementation, documentation, and employee training, to ensure companies are compliant and employees feel secure.
Analysis MOORE CZ: Residential Social Services Should Pay More Attention to Fire Protection
11/27/2023
A study by Moore Advisory CZ for the Czech Ministry of Labour and Social Affairs highlights the need for improved fire safety in residential social care facilities like nursing homes. The analysis, co
A study by Moore Advisory CZ for the Czech Ministry of Labour and Social Affairs highlights the need for improved fire safety in residential social care facilities like nursing homes. The analysis, comparing the Czech Republic to Germany, Austria, Poland, and New Zealand, found that foreign facilities emphasize more frequent fire safety training and evacuation drills for staff.
A survey of 153 Czech facilities revealed shortcomings. Of those providing services in multi-story buildings, nearly half lack evacuation-compliant elevators, posing a significant risk during a fire. While most facilities have multiple escape routes and fire detection systems, fewer have evacuation elevators or fire alarms connected to fire stations. Facilities with over 50 beds have until December 2024 to install electronic fire signaling systems. Worryingly, some reported having only one escape route.
The report indicates that financial constraints hinder fire safety improvements, as most facilities are publicly funded and lack investment budgets, further strained by rising energy costs. The analysis underscores the importance of proactive fire safety measures to prevent tragedies in these vulnerable settings.
Sustainability as a key to higher sales and employee retention
11/2/2023
Sustainability as a Key to Higher Revenue and Employee Retention
Recent years have seen a significant shift in how businesses view their role in the economy and society. A Moore Global survey indicat
Sustainability as a Key to Higher Revenue and Employee Retention
Recent years have seen a significant shift in how businesses view their role in the economy and society. A Moore Global survey indicates that companies embracing sustainability principles are experiencing higher revenues, improved customer retention, and enhanced brand image. Sustainability is no longer a trend but a core business strategy, often placed on par with profitability, as the two are increasingly interconnected.
The research reveals that 84% of companies acknowledge the growing importance of ESG (Environmental, Social, and Governance) issues. Businesses prioritizing sustainability have seen a 10% revenue increase over the past four years, double that of less engaged firms. Customer retention improved by 79% in companies with increased ESG focus, compared to 47% for others. Similarly, brand image improved for 81% of businesses progressing in ESG, versus 49% for others. These findings translate into tangible economic results, with medium and large enterprises emphasizing sustainability reporting a $3.1 trillion revenue increase over four years.
"Sustainability is now not only a moral imperative but also a growth strategy," states Tomáš Buriánek, senior manager at Moore Czech Republic. "Companies applying sustainability principles achieve tangible results. Our research shows sustainability is a path to prosperity in the new global economy."
Furthermore, a proactive approach to ESG positively impacts customer loyalty. The IT sector leads with 92% of companies reporting increased customer retention, followed by accounting and finance (83%). Retail, wholesale, manufacturing, and distribution sectors reported 81% improvement, with automotive and aerospace at 75%. This indicates a positive shift in how consumers perceive companies committed to sustainability.
Sustainability also plays a crucial role in attracting and retaining talent. Companies with a clear commitment to social issues and equality are better positioned to attract employees who value a company's principles beyond salary. Businesses with increased ESG focus saw a 7% employee growth over four years, compared to only 2% for lagging companies, highlighting sustainability's impact on workforce development.
"Businesses actively and consistently addressing sustainability issues have a significant competitive advantage," comments Martin Buranský, partner at Moore Czech Republic. "Their ESG engagement translates into revenue growth, fosters more loyal customers, and strengthens brand image." This creates a positive feedback loop, where high ESG standards lead to increased customer loyalty, a stronger brand, and ultimately, long-term business success.
The research surveyed 1,800 decision-makers across 1,800 companies with over 250 employees in multiple countries. The findings strongly suggest that ESG is a pivotal factor for future business success in the current global economic landscape.
Summary:
A Moore Global survey reveals that companies prioritizing sustainability, or ESG principles, are outperforming their less engaged counterparts. These businesses report higher revenue growth (10% vs. 5%), significantly better customer retention (79% vs. 47%), and improved brand image (81% vs. 49%). The research indicates that for medium and large enterprises, a strong ESG focus has contributed to a $3.1 trillion increase in revenue over four years. Sustainability is no longer just an ethical consideration but a strategic driver of economic prosperity.
Beyond financial benefits, sustainability also aids in talent acquisition and retention. Companies demonstrating a commitment to social issues and equality attract more employees who seek value alignment. These firms experienced 7% employee growth compared to 2% for those lagging in ESG, underscoring sustainability's importance in building a strong workforce. The findings suggest that actively addressing ESG issues provides a significant competitive advantage, fostering customer loyalty and strengthening brand reputation, ultimately leading to sustained business success.
8 out of 10 parents would return to work earlier if their employer provided a company nursery or daycare group
10/12/2023
Eight out of ten parents would return to work sooner if their employer provided a company nursery or childcare group. This finding comes from research conducted by the consulting group Moore Czech Rep
Eight out of ten parents would return to work sooner if their employer provided a company nursery or childcare group. This finding comes from research conducted by the consulting group Moore Czech Republic. In today's tight labor market with record low unemployment, companies struggle to retain talent. Company-provided childcare is identified as a key motivational tool.
Currently, less than 15% of parents with children aged 1-6 report their employer offers company childcare. This support is not yet standard in the Czech Republic, but employee interest is high, with over 60% of parents without access expressing a desire to use it. For nearly 14% of parents, company childcare is a crucial benefit, while 27% consider it important but not essential, and 47% find it an attractive benefit.
This childcare support helps parents return to work gradually, perhaps part-time initially, with their children nearby and in a safe environment. It reduces parental anxiety, isolation, and allows for better focus on work. For employers, it means faster reintegration of skilled employees, reduced turnover, and enhanced reputation as a family-friendly company, ultimately saving recruitment and training costs.
The availability of company childcare could also encourage shorter parental leave periods in the Czech Republic, which currently has the longest in the EU. This benefit is crucial for retaining and motivating key employees in a competitive market.
## Summary
A recent study by Moore Czech Republic reveals that eight out of ten parents would return to work earlier if their employer offered company-provided childcare. In a challenging labor market characterized by low unemployment, retaining skilled employees is a significant concern for businesses. Company nurseries and childcare groups are emerging as essential tools for employee motivation and retention.
Currently, a limited percentage of employers offer such benefits, but employee demand is substantial. Over 60% of parents without access to company childcare expressed interest in using it. For a significant portion of parents, this benefit is either crucial or highly desirable, indicating its strong appeal.
The provision of company childcare offers dual advantages: it facilitates a smoother and less anxious return to work for parents, allowing for gradual reintegration into the workforce while ensuring children are cared for nearby. For employers, it leads to the quicker re-engagement of experienced staff, reduced employee turnover, and a strengthened employer brand as a family-supportive organization. This, in turn, can lead to cost savings in recruitment and training. Furthermore, accessible company childcare could encourage a reduction in the lengthy parental leave periods common in the Czech Republic, positively impacting the overall labor market. Ultimately, offering such support is presented as a critical factor for company success in today's competitive environment.
First Observations on the Whistleblower Protection Act Implementation: Surprised Schools and Hesitant Small Businesses
9/19/2023
First Observations on the Implementation of the Whistleblower Protection Act: Caught-Off-Guard Schools and Hesitant Small Businesses
The new Whistleblower Protection Act came into effect on August 1,
First Observations on the Implementation of the Whistleblower Protection Act: Caught-Off-Guard Schools and Hesitant Small Businesses
The new Whistleblower Protection Act came into effect on August 1, 2023, introducing significant changes for various entities in the Czech Republic. Whistleblowers are now expected to play a crucial role in reporting illegal activities within organizations. Early observations suggest that the law has surprised many, including schools that had to implement new requirements during their summer break. Experts emphasize the necessity of building trust in the reporting system among employees and fostering a change in corporate culture.
The law mandates that employers with at least fifty employees, municipalities with over 10,000 inhabitants, public procurement entities, certain public authorities, and specific financial sector entities must establish an internal reporting system. However, companies with 50 to 249 employees have an extended deadline until December 15, 2023, for implementation. Failure to comply can result in penalties of up to one million Czech crowns for severe violations, such as not establishing a system or allowing retaliation against whistleblowers. False reporting can incur fines of up to 50,000 Czech crowns.
A key aspect of the law is the employer's obligation to operate an internal reporting system to protect whistleblowers. The credibility of this system hinges on the trustworthiness of the designated investigator, who must act independently and impartially, informing whistleblowers of the outcome within legal deadlines. Assigning this role to existing employees carries a risk of distrust, as employees might fear retaliation from colleagues.
For the system's success, it's crucial to move beyond mere formal compliance and cultivate a workplace atmosphere where employees feel safe to report. Top management's attitude and commitment are vital for genuine change towards greater transparency and fairness. While smaller companies have more time, they are urged to use it effectively for preparation, as many appear to be delaying implementation. Comprehensive solutions, including electronic tools, internal documentation, employee training, and ongoing support for the reporting process, are available to help organizations navigate these new requirements.
Blockchain is Changing Financial Services. But Faster, Cheaper Payments Are Energy-Intensive
8/31/2023
Blockchain is revolutionizing financial services, offering the potential for faster, cheaper payments and increased efficiency in banking and lending. Experts from Moore Global highlight that this tec
Blockchain is revolutionizing financial services, offering the potential for faster, cheaper payments and increased efficiency in banking and lending. Experts from Moore Global highlight that this technology can streamline operations, reduce counterparty risk, shorten settlement times, and enable real-time verification of financial documents. Decentralized ledgers facilitated by blockchain promise lower transaction fees and operating costs, bringing financial institutions closer to seamless interbank transactions.
However, significant challenges remain. Blockchain platforms currently exhibit low scalability compared to established systems like Visa, processing far fewer transactions per second. Fragmentation and a lack of standardized protocols hinder interoperability between different blockchain ecosystems. Furthermore, the energy consumption associated with both blockchain and artificial intelligence is substantial, leading to high carbon dioxide emissions, particularly during AI model training. The ultimate success and return on investment for these technologies will heavily depend on the future regulatory landscape.
Blockchain technology is transforming financial services by enabling faster, cheaper payments and improving banking efficiency. Experts note its potential to reduce risks, shorten settlement times, and facilitate real-time document verification. Blockchain's decentralized ledger systems can lower operating costs and enhance interbank transactions. Despite these advantages, significant hurdles exist, including low scalability compared to traditional payment processors and fragmentation hindering interoperability. A major concern is the high energy consumption of blockchain and AI, leading to considerable carbon emissions. The future success of these technologies hinges on ongoing research, development, and the evolving regulatory framework.
Unemployment is low, but the Czech economy is struggling. Why do we need foreigners and flexible working conditions?
8/21/2023
Unemployment is low, but the Czech economy is struggling. Why do we need foreigners and flexible working conditions?
August 21, 2023
Unemployment in the Czech Republic has been falling for several m
Unemployment is low, but the Czech economy is struggling. Why do we need foreigners and flexible working conditions?
August 21, 2023
Unemployment in the Czech Republic has been falling for several months, resulting in one of the lowest rates in the EU. However, this is not good news for the Czech economy, which is struggling. A situation where GDP is falling, unemployment is decreasing, and the number of job vacancies is rising hinders economic recovery and the competitiveness of Czech businesses. Radovan Hauk of Moore Czech Republic emphasizes the crucial need for the government to allow companies to hire skilled foreign workers, including Ukrainians, for long-term employment. Equally important is supporting part-time positions and creating an environment to retain employees over 55. Failure to address these issues will lead to significant future problems.
The demographic threat is substantial. The working population is declining due to an aging population, with around 40,000 fewer workers entering the market annually than those retiring. This deficit is projected to worsen in the next decade. The shortage of workers limits business growth and results in significant economic losses for the state. An estimated 280,000 to 300,000 vacancies represent a loss of approximately 350 to 375 billion CZK annually in GDP, and 95 to 105 billion CZK in potential tax revenue and social security contributions.
The tight labor market also drives excessive wage growth, though real wages have decreased due to high inflation. Certain sectors, like healthcare, IT, and manufacturing, face critical worker shortages. The government, in collaboration with social partners, must create more accessible and flexible programs for employing foreigners, focusing on attracting highly skilled individuals and also addressing the need for less-skilled labor in sectors where Czechs are less inclined to work. Competition from countries like Germany, with higher wages, makes attracting foreign talent even more challenging.
The Czech Republic's low unemployment rate, coupled with a struggling economy and a growing number of job vacancies, highlights a critical need for foreign labor and more flexible employment conditions. The aging Czech population means a declining workforce, with fewer young people entering the market than older workers retiring. This demographic trend is expected to exacerbate the labor shortage in the coming decade. Businesses are unable to reach their full production potential, leading to significant economic losses for the country, estimated at billions of CZK annually, in terms of lost GDP and tax revenue. The current wage growth, while seemingly high, is outpaced by inflation, leading to a real decrease in wages. Sectors such as healthcare, IT, and manufacturing are experiencing severe worker shortages. To maintain competitiveness and economic growth, the government must implement policies that facilitate the employment of foreign workers, both highly skilled and less-skilled. This includes reforming existing programs and actively attracting talent from abroad, especially competing with countries like Germany. Flexible working arrangements, such as part-time employment and retaining older workers, are also vital to addressing the labor deficit and ensuring the sustainability of the Czech economy.
Low unemployment is plaguing the Czech economy, which is struggling despite a declining jobless rate. This situation is exacerbated by a declining working-age population due to demographic shifts, with more people retiring than entering the workforce. Experts stress the urgent need for the government to facilitate the employment of foreign workers, both skilled and unskilled, to fill labor shortages and boost economic growth. The current economic landscape is characterized by businesses being unable to operate at full capacity due to a lack of staff, resulting in substantial economic losses for the country. Furthermore, real wages are falling due to high inflation. To counter these challenges and enhance competitiveness, the Czech Republic must adopt more flexible employment policies and attract foreign talent, facing competition from countries like Germany.
Artificial intelligence will increase the quality and efficiency of legal services, but data protection must be ensured
8/3/2023
Artificial intelligence will enhance the quality and efficiency of legal services, but data protection must be a priority.
August 3, 2023
Law firms are beginning to utilize artificial intelligence (
Artificial intelligence will enhance the quality and efficiency of legal services, but data protection must be a priority.
August 3, 2023
Law firms are beginning to utilize artificial intelligence (AI) services, which will expand text processing capabilities, accelerate information retrieval, and become a crucial tool for lawyers. Experts from the law firm Moore Legal CZ discussed this, also warning about potential pitfalls such as the limited reliability of generative text models and the need for heightened caution when handling sensitive data. Moore Legal CZ is already testing AI for tasks like information retrieval during due diligence and text editing.
Generative language models are primarily being used in law firms. Jan Kubica, a partner at Moore Legal CZ, stated that AI is viewed as another tool for lawyers, supplementing existing resources like legal commentary and case law. While AI's current role focuses on more peripheral tasks such as summarizing time sheets or preparing marketing reports, it presents an opportunity for law firms to rethink their internal workflows.
However, experts urge caution regarding AI's potential risks in legal practice. Kubica emphasizes understanding how data is processed by AI providers, particularly concerning the distinction between client and non-client data, and the possibility of AI generating false information.
Moore Legal CZ is testing AI systems for retrieving relevant text from internal databases for responses and for quickly finding relevant passages during due diligence. AI can also support legal writing by suggesting text simplification or generating counterarguments, always under the lawyer's supervision and control.
AI is subject to numerous national and European regulations, including professional conduct rules. Kubica believes the current robust EU regulation of AI is the right direction.
Czech M&A Market Recovers, Investors Interested in Company Resilience After Crisis Period
7/27/2023
The Czech M&A market is recovering after a slowdown, with investors focusing on company resilience following the pandemic and the war in Ukraine. Concerns about a deeper recession have eased, leading
The Czech M&A market is recovering after a slowdown, with investors focusing on company resilience following the pandemic and the war in Ukraine. Concerns about a deeper recession have eased, leading to renewed investor appetite fueled by accumulated capital and high inflation. Experts at Moore Czech Republic anticipate a market revival in the second half of 2023 and early 2024.
A crucial factor for investment is the resilience and sustainability of business models. Investors prioritize companies that have proven their ability to weather crises and those with diversified activities, avoiding those overly reliant on single areas.
The first half of 2023 saw 61 transactions, fewer than the previous year. However, receding recession fears are expected to increase transaction volume in the latter half of the year. Noteworthy deals include Westly Group's acquisition of Woltair, highlighting the attractiveness of clean energy companies, and Carlyle Group's acquisition of Meopta - Optika. The improved energy market situation has also allayed investor fears.
Currently, energy-intensive businesses, automotive suppliers, and firms dependent on foreign supply chains face challenges. While energy prices have stabilized, industries reliant on Asian supplies remain at risk. There's still significant investor interest in the energy sector. A key factor for investors is the sustainability and resilience of potential acquisition targets.
The use of artificial intelligence will determine success in manufacturing and distribution, and investments in it in this sector will double in four years.
7/20/2023
According to Moore Global, companies leveraging disruptive technologies, particularly artificial intelligence (AI), will thrive in manufacturing and distribution. Global AI investments in this sector,
According to Moore Global, companies leveraging disruptive technologies, particularly artificial intelligence (AI), will thrive in manufacturing and distribution. Global AI investments in this sector, roughly $50 billion in 2020, are projected to double by 2024. Czech firms face ongoing supply chain disruptions exacerbated by the war in Ukraine.
Approximately 20% of AI spending is allocated to process automation, with AI-powered machines increasingly replacing repetitive tasks. While manufacturing and distribution have successfully implemented AI, significant potential remains for further integration. Disruptive innovations like cloud technology, digitalization, robotics, the Internet of Things, AI, and augmented/virtual reality are reshaping the global economy.
A survey reveals that 44% of Czech companies invested 5-20% of their annual budget in digital investments last year, compared to 27% in 2019. Firms recognize digital investment as vital for competitiveness and resilience during crises. A shortage of skilled workers hinders effective digital technology implementation, necessitating employee training and improved education. Augmented and virtual reality are becoming increasingly important in digitizing industry, accelerating processes, enabling remote solutions, and enhancing training. Supply chain issues persist, impacting Czech firms reliant on Russian and Ukrainian markets, with resolution unlikely in the near future.
Three out of four employees want a four-day work week. Interest is higher than two years ago.
7/3/2023
Three out of four Czech employees favor a four-day work week, according to a recent survey commissioned by Moore Czech Republic. Nearly half of Czech employees would definitely agree with implementing
Three out of four Czech employees favor a four-day work week, according to a recent survey commissioned by Moore Czech Republic. Nearly half of Czech employees would definitely agree with implementing a four-day work week, and another 28% would likely agree. This interest is higher than it was two years ago, with 67% of respondents expressing a positive view compared to 61% in a previous survey. In both surveys, 65% of employees stated they would dedicate more time to their work if the work week was shortened.
Around 30% of respondents believe a four-day week would be sufficient to fulfill company obligations without increased productivity, while almost 22% think it would work if employee performance improved. Younger employees are more inclined towards a shorter work week, with about 83% of those aged 18-26 being positive, compared to under 65% for those over 36. Men are generally more skeptical than women.
Currently, experiments with four-day work weeks are underway across Europe. While the Czech Ministry of Labor and Social Affairs isn't planning a widespread implementation, companies are trying less radical adjustments like flexible work arrangements or home office. Experts believe that adopting a four-day work week could attract employees, especially in the current labor shortage.
Artificial intelligence will not take people's jobs, but will make them more efficient. It will help, for example, in the recruitment process.
6/29/2023
**Translation:**
Artificial intelligence (AI) will not take people's jobs but rather make them more efficient. For example, it can help in the recruitment process.
June 29, 2023
Dozens of percent o
**Translation:**
Artificial intelligence (AI) will not take people's jobs but rather make them more efficient. For example, it can help in the recruitment process.
June 29, 2023
Dozens of percent of Czechs fear losing their jobs due to AI. Experts from the consulting group Moore Czech Republic are mitigating these concerns, predicting that the use of AI will lead to more efficient human work rather than its replacement. According to their estimates, AI will affect almost all industries, primarily administration and financial services. AI will also facilitate the recruitment process in companies. In practice, the recruitment team from Moore Advisory CZ also uses AI, which helps them fill lucrative job positions.
According to a survey by the Median agency, 31% of Czechs are worried about their jobs due to the rise of AI.
"AI will undoubtedly replace some job positions, but it will rather make work more efficient overall, and even create a number of new job positions. What is certain in any case is that the rise of AI will transform the structure of the labor market in the Czech Republic and affect almost all industries - initially, it will be administration or financial services," comments Miloslav Rut, partner at Moore Technology CZ, adding that the impact of AI will be felt earlier and more strongly in Western European countries and the USA than in the Czech Republic.
Twice the response thanks to AI
AI will also streamline the recruitment process in companies. This is how the Moore Advisory CZ recruitment team uses it.
"For example, we were filling a product marketing manager position for our client, a large IT company, and it occurred to us that artificial intelligence could help us with this. Thanks to ChatGTP, we created a job description and ultimately filled the position successfully," describes Lucie Krejčová, Recruitment Manager at Moore Advisory CZ. She further explains the use of AI in filling the position in numbers: "The average response rate to our messages on LinkedIn is between 35 and 45%. For this position, the response rate was significantly above average, as it was 70%. We were also able to choose from seven quality candidates, which is again above standard. For most other positions, we aim to offer two to three quality candidates."
AI seeks new employees
The scope for the application of AI is great in HR.
"Currently, artificial intelligence is most often used in sorting resumes. Automating resume screening saves overloaded HR professionals a lot of valuable minutes. Another possible use is in analyzing the applicant's assumptions and - as we have tried ourselves - also in communication with applicants. Last but not least, AI can also be helpful in onboarding and training," explains Lucie Krejčová.
According to experts, however, human contact will still be needed in HR.
"For us, artificial intelligence represents a significant streamlining of work, but I dare say that the human factor and soft skills will still play a primary role in our profession. We see artificial intelligence more as a good helper than a thief who will deprive recruiters of their jobs," says Lucie Krejčová from Moore Advisory CZ.
Artificial intelligence will continue to be used in consulting within Moore Advisory CZ. "Artificial intelligence helps us with the design of texts and procedures in various areas. This includes, for example, procedures for implementing certain measures or proposals for KPIs, which saves consultants time," says Martin Buranský from Moore Advisory CZ. "Although the use of artificial intelligence is an undeniable benefit, it is necessary to check the outputs, both formally and substantively. Sometimes AI is able to come up with real oddities," concludes Martin Buranský.
**Summary:**
Experts at Moore Czech Republic predict that AI will enhance work efficiency rather than replace jobs, impacting sectors like administration and finance. A survey indicates 31% of Czechs fear job loss due to AI. AI is already being used to streamline recruitment, improving response rates and candidate quality. For instance, Moore Advisory CZ utilized ChatGPT to create a job description, resulting in a 70% response rate on LinkedIn and a pool of seven qualified candidates. AI is also used for resume screening, applicant analysis, communication, onboarding, and training. While AI aids in designing texts and procedures, human oversight remains essential to prevent errors. Experts believe human interaction and soft skills will still be crucial in HR, viewing AI as a helpful tool rather than a job threat.
Taxation of non-financial benefits will put pressure on wage growth. It will also make recruitment more difficult for companies.
6/25/2023
Taxing non-financial benefits could strain wage growth and hinder recruitment efforts for Czech companies, according to experts at Moore Czech Republic. The proposed government consolidation package's
Taxing non-financial benefits could strain wage growth and hinder recruitment efforts for Czech companies, according to experts at Moore Czech Republic. The proposed government consolidation package's limitation on tax advantages for these benefits could negatively impact the labor market and the economy, affecting both employers and employees. Employees often view benefits as part of their compensation, and eliminating them will likely create pressure for wage increases.
Furthermore, the removal of benefits could make it harder for companies to attract qualified workers in a tight labor market with a chronic shortage of skilled employees. Non-financial benefits are a tool for employers to make job positions more attractive, motivate employees, and build loyalty. The legislative change could also harm third parties, such as sports facilities and cultural event organizers, who benefit from revenue generated through these employee perks. Experts estimate that the planned changes could affect up to three out of four Czech employees. The benefit to the state budget is questionable and doesn't outweigh the potential negative consequences.
Moore Advisory CZ: The state can save up to 337 million annually by adjusting payments for stays in residential social service facilities
6/6/2023
**Moore Advisory CZ: State Could Save Up to CZK 337 Million Annually by Adjusting Payments for Social Service Facilities**
A Ministry of Labour and Social Affairs analysis by Moore Advisory CZ sugges
**Moore Advisory CZ: State Could Save Up to CZK 337 Million Annually by Adjusting Payments for Social Service Facilities**
A Ministry of Labour and Social Affairs analysis by Moore Advisory CZ suggests the state budget could save up to CZK 337 million annually by adjusting payment conditions for selected social service facilities. The study examined the possibility of clients in senior homes, facilities with special regimes, and homes for people with disabilities, or their relatives, contributing to care costs. It found that 52% of clients in these facilities have someone who could potentially contribute, but current willingness to contribute is only 27%.
The analysis, based on a survey of 1,000 clients, revealed that many clients have relatives who could partially cover the costs. In 40% of cases, the client has a descendant with a maintenance obligation. Proposed mandatory payments would include protective limits for both clients and those obliged to provide support, potentially capped at 20% of remaining income after living expenses. The average cost for basic services in residential facilities was almost CZK 14,500 per month per client as of October 2022. The analysis also considered implementing models similar to those in Germany and Austria, where children of social service clients are obligated to contribute to care based on their financial capacity. While the changes would involve increased personnel costs for financial testing, the net savings could reach CZK 337 million annually.
Moore Group Buys High School, Continues Trend of Employer Collaboration with Schools
6/1/2023
Moore Czech Republic acquired Střední škola Spektrum, a secondary school in Mladá Boleslav, reinforcing its commitment to education. This move, bolstering its Moore Academy division, aligns with the g
Moore Czech Republic acquired Střední škola Spektrum, a secondary school in Mladá Boleslav, reinforcing its commitment to education. This move, bolstering its Moore Academy division, aligns with the growing trend of employer-school collaborations to bridge the gap between education and practical skills. Moore actively supports education through direct activities, the KVASAR project, and partnerships with universities like Sting and the Czech University of Life Sciences.
The acquisition aims to improve the quality of potential employees amidst a shortage of skilled labor and increasing training times. Moore believes closer collaboration between schools and corporations is crucial for upskilling and reskilling, particularly in digital technologies. Střední škola Spektrum, with its focus on online learning and specialized courses, provides a solid foundation for Moore's expansion in secondary education. Moore also partners with higher education institutions, offering practical experience to students and supporting events like job fairs and conferences, emphasizing the importance of close ties between education and the workforce. The company intends to focus on fields such as accounting, finance, and IT within secondary schools.
Key Trends in Finance - Digitalization, AI, and Sustainability
5/30/2023
**Key Trends in Finance: Digitalization, AI, and Sustainability**
Investor interest in fintech startups is declining, according to experts from Moore Global, tempering expectations of revolutionary c
**Key Trends in Finance: Digitalization, AI, and Sustainability**
Investor interest in fintech startups is declining, according to experts from Moore Global, tempering expectations of revolutionary changes in finance. Many fintech startups have failed to adequately monetize their ideas, losing their competitive edge. However, digitalization, including AI solutions, will play a crucial role in the financial sector's development. Moore Czech Republic experts believe that the level of digitalization in the Czech financial sector is insufficient. Sustainability is also playing an increasingly important role in the world of finance and is gaining traction in the Czech Republic.
Moore Global has observed increased merger and acquisition activity among fintech startups. Investor interest in the financial sector remains, but it is shifting towards more traditional services or underserved regions. Experts say the Czech Republic lags in technology adoption in the financial sector due to a conservative approach from banks and customers. AI solutions are being used for credit scoring, but the financial sector is sensitive to replacing human interaction. ESG principles are gaining traction in finance, with firms focusing on their environmental impact. Investment managers are building ESG portfolios, and banks are interested in sustainably financing infrastructure projects. ESG principles are becoming more prominent in the Czech financial sector.
National Qualifications Framework Helps Those Who Want a Better Job. Awareness of it is Increasing.
5/22/2023
The National Qualification System (NSK) helps individuals seeking better employment by providing state-supported, nationally recognized professional qualifications without formal schooling. A large-sc
The National Qualification System (NSK) helps individuals seeking better employment by providing state-supported, nationally recognized professional qualifications without formal schooling. A large-scale survey conducted in autumn 2021 and early 2023 as part of the UpSkilling project revealed varying levels of awareness and utilization across target groups: schools, the Labour Office, and employers.
Labour Office employees demonstrate the highest awareness (94%) and usage (79%) of NSK, primarily for retraining and professional qualification exams. Schools are aware of NSK (77%) and use it for developing educational programs, but active utilization is lower (22%). Employers exhibit the lowest awareness (35%) and usage (10%), though their knowledge and utilization significantly increased between survey rounds.
Workshops within the UpSkilling project contributed to this positive growth, especially among employers. While NSK usage has doubled, employers still lag behind schools and the Labour Office. Future plans indicate continued use of NSK by all groups for educational and retraining purposes. To maximize NSK's effectiveness, further focus is needed on employer engagement and utilization, particularly through targeted activities like workshops, to ensure all stakeholders benefit from the system.
Tourism recovered from Covid last year, will grow this year. Established brands will strengthen in particular.
5/16/2023
Tourism rebounded from Covid last year and is expected to grow this year, with established brands leading the way. Experts at Moore Global anticipate continued expansion in 2023, particularly among la
Tourism rebounded from Covid last year and is expected to grow this year, with established brands leading the way. Experts at Moore Global anticipate continued expansion in 2023, particularly among large hotel chains adopting the franchise model, which could benefit smaller businesses. Moore Czech Republic predicts global trends like ESG, automation, and "bleisure" (business and leisure travel) will influence the domestic sector. Travel agencies also foresee expansion, reporting significantly higher advance sales.
While Covid severely impacted tourism, 2022 saw a return of customers, and 2023 promises further growth. Travelers will favor well-known brands, driving expansion for major hotel chains through franchising, offering smaller hotels opportunities to operate under trusted corporate banners. Czech tourism is recovering, with revenues reaching 118 billion crowns in 2022, a 51 billion crown increase year-on-year, but still below the 167 billion crown pre-Covid level in 2019. Adaptation to global trends will be crucial.
The "bleisure" model is gaining traction, potentially growing by 20% annually. Czech hotels can capitalize on this trend, as well as prioritize ESG principles to attract investment. Automation is also rising in the hospitality sector, and early adoption of technologies like AI will be vital for competitiveness. Travel agencies are anticipating a highly profitable year, with advance sales doubling compared to last year. Popular destinations include Turkey, Greece, Egypt, Spain, and Albania, with growing interest in sightseeing tours.
Whistleblowers save companies money and improve corporate culture. However, a reporting system needs to be built now.
5/3/2023
Whistleblowers save companies money and improve corporate culture. The announcement system needs to be built now.
Delays in transposing the EU Whistleblower Protection Directive into Czech law are pr
Whistleblowers save companies money and improve corporate culture. The announcement system needs to be built now.
Delays in transposing the EU Whistleblower Protection Directive into Czech law are problematic not only for the Czech Republic, which has been sued by the European Commission as a result, but also for businesses. According to experts from Moore Czech Republic, Czech companies face significant financial losses without an effective internal reporting system. The new legislation, the Whistleblower Protection Act, is intended to protect whistleblowers who report illegal activities within companies. Companies with more than fifty employees will be obligated to establish an internal reporting system, allowing employees to confidentially and anonymously report suspected wrongdoing.
Experts emphasize the need for companies to proactively create these systems, warning against last-minute panic similar to GDPR implementation. Furthermore, having a robust internal system against corruption can be considered a mitigating circumstance in legal proceedings against a company.
Financially, whistleblowing can prevent substantial losses. The EU estimates annual losses from the lack of whistleblower protection to be €5.8 to €9.6 billion in public procurement alone. In the Czech Republic, 40% of companies encountering economic crime lost at least CZK 1,200,000. Internal reporting systems aim to address this by making management aware of illegal employee activities.
Ultimately, fostering a culture that supports whistleblowers, removing the stigma associated with them, is crucial. Whistleblowers contribute to an atmosphere of openness and transparency, improving employee-management relations and reducing the risk of sanctions and customer rejection. Moore Czech Republic offers expertise in creating and managing these effective whistleblower protection systems.
Big data will enable electricity production optimization. A new trend will be community power plants.
5/3/2023
Big data will enable the optimization of electricity production. Community power plants will be a new trend.
May 3, 2023
Experts from the consulting network Moore Global consider adherence to ESG (e
Big data will enable the optimization of electricity production. Community power plants will be a new trend.
May 3, 2023
Experts from the consulting network Moore Global consider adherence to ESG (environmental, social, and governance) principles a condition for maintaining competitiveness in the energy industry. They also point out the possibility of using big data to analyze energy consumption and production to increase efficiency. According to experts from Moore Czech Republic, adapting to the new trend of community power plants will be important for the Czech energy market. These will enable both greater sustainability of the energy industry and more stable energy prices.
The shift towards renewable sources has been influenced by many factors, including technological advancements and government incentives.
"Investments in physical infrastructure aimed at reducing carbon emissions are obvious at first glance, but what happens behind the scenes can be equally important. Today, it is possible to collect and analyze vast amounts of information about energy usage. This data can be used to optimize the functioning of energy systems, leading to more efficient and cost-effective energy production and consumption,"
describes David Tomasi, global leader in energy, mining, and renewables at Moore Global.
Moore Czech Republic experts add that the Czech Republic can also benefit from optimizing electricity production using big data.
"For example, the Temelín nuclear power plant wants to save up to 4,000 megawatt-hours of emission-free electricity next year. It intends to achieve this by adjusting the operation of cooling tower pumps and will use big data for this purpose,"
adds Pavel Drobil, partner at Moore Czech Republic.
Return to the past
Energy supply disruptions that Europe has been experiencing since last year have resulted in increased interest in using non-renewable fossil fuels.
"One of the consequences of the energy crisis is that the emphasis on using energy from renewable sources is practically decreasing. The use of fossil fuels is growing again, and even states are more lenient towards it. We can see this, for example, in Germany, where the lifespan of thermal power plants is being extended,"
comments Pavel Drobil.
Czech Republic awaits community power plants
Experts from Moore Czech Republic believe that the energy market in the Czech Republic will fundamentally change after the adoption of legislation enabling the expansion of community power plants.
"Peer-to-peer energy sharing within virtual power plants will enable a more environmentally friendly approach and will also contribute to stabilizing energy prices. This type of power plant could cover up to 25% of the total domestic electricity consumption in the future,"
explains Miroslav Rut, partner at Moore Technology CZ.
Experts emphasize the importance of ESG principles for competitiveness in the energy sector and highlight the potential of big data to optimize energy production and consumption, leading to greater efficiency and cost savings. The Temelín nuclear power plant is cited as an example of a large entity utilizing big data for operational improvements. The European energy crisis has led to a resurgence in fossil fuel use, with countries extending the lifespans of thermal power plants. For the Czech Republic, a significant transformation in the energy market is anticipated with the introduction of community power plants, which will facilitate peer-to-peer energy sharing and virtual power plants. These community initiatives are expected to enhance environmental sustainability and stabilize energy prices, potentially meeting up to 25% of the country's electricity demand.
Pavel Drobil Joins Moore Czech Republic as Partner
Milan Kříž
March 31, 2023
Pavel Drobil (51) joined Moore Czech Republic as a partner in March. His responsibilities will focus on projects in the energy and industrial manufacturing sectors, as well as expanding Moore Czech Republic's presence in Moravia.
Drobil brings extensive expertise in energy and mechanical manufacturing, along with experience in managing mergers, acquisitions, and company expansions. He aims to leverage his legal background, management experience, and practical knowledge to contribute to the group's growth. Drobil was attracted to Moore Czech Republic's entrepreneurial spirit, expertise, and supportive internal culture.
Previously, Drobil served as a partner and chairman of the board for Anacot Capital, an investment group focused on mechanical manufacturing. He also managed legal departments and financial negotiations for the Patronus III SICAV investment fund. Drobil began his career as a tax lawyer at Arthur Andersen and has held significant political positions, including a member of parliament, deputy governor of the Moravian-Silesian Region for economics, and Minister of the Environment.
Petr Kymlička, co-founder of Moore Czech Republic, stated that Drobil's addition is timely given the growing demand in the energy sector and the firm's expansion into Moravia. He emphasized that Drobil is a highly experienced manager and expert with exceptional life experience.
Drobil graduated from the Faculty of Law at Masaryk University in Brno. In his free time, he enjoys spending time with his family, reading fiction, and learning to fly. He is a local patriot supporting Ostrava and a connoisseur of Moravian wines.
加入摩尔捷克之前,Drobil先生曾任机械制造投资集团Anacot Capital的合伙人兼董事会主席,并曾为Patronus III SICAV投资基金管理法务与财务谈判工作。他的职业生涯起步于安达信(Arthur Andersen),担任税务律师。此后,他投身政界,曾担任国会议员、摩拉维亚-西里西亚地区主管经济事务的副州长以及捷克环境部长等要职。
Virtual Power Plants Will Transform the Energy Market. In the Future, They Could Produce Up to 25% of Electricity in the Czech Republic
3/30/2023
Virtual power plants are poised to transform the energy market in the Czech Republic, potentially supplying up to 25% of the country's electricity in the medium term, according to experts from Moore C
Virtual power plants are poised to transform the energy market in the Czech Republic, potentially supplying up to 25% of the country's electricity in the medium term, according to experts from Moore Czech Republic. This shift hinges on the adoption of appropriate legislation to enable community energy and peer-to-peer energy sharing. The recent energy crisis, which saw Czech electricity prices soar the highest in the EU, has been a significant driver for preparing this legislation.
Miloslav Rut, a partner at Moore Czech Republic, highlights that virtual power plants, with an estimated production cost of around 3 CZK per kWh, could help mitigate rising electricity prices. However, the necessary legislative framework, adapted from EU regulations, is still under development and expected to commence around mid-year. Rut emphasizes the importance of defining community boundaries, favoring geographically localized communities. A key challenge identified is the strain on distribution networks; therefore, strengthening infrastructure alongside facilitating community energy is crucial. Incentivizing communities operating within a single distribution transformer would be particularly beneficial.
Virtual power plants offer the prospect of greener and cheaper energy by enabling consumers to cover part of their needs with local renewable production. Municipalities, for instance, can leverage solar panels on public buildings to power local consumption, with surplus energy supplied to citizens or the grid. While some energy suppliers in the Czech Republic focus on renewables, they do not currently offer peer-to-peer sharing, which is the core principle of virtual power plants.
Green cities are the future. Prague lags behind other European metropolises.
녹색 도시는 미래입니다. 프라하는 다른 유럽 대도시에 비해 뒤처집니다.
3/18/2023
The future of cities lies in becoming "smart and green," integrating environmental improvements and climate protection into all urban operations. This includes utilizing renewable energy sources, opti
The future of cities lies in becoming "smart and green," integrating environmental improvements and climate protection into all urban operations. This includes utilizing renewable energy sources, optimized through digital technologies like smart meters and transformers, connecting energy production and consumption. Smart and green cities will also focus on social inclusion, ensuring equal access to services for all, and digital transformation for optimized operations using AI, IoT, and big data. They must also enhance risk management capabilities to respond effectively to unforeseen events, including climate change impacts.
However, Czech cities, including Prague, lag behind Western European capitals in green infrastructure development, ranking 20th out of 37 major European cities in a European Environment Agency comparison. This is partly attributed to inflexible building legislation and bureaucratic burdens that hinder urban growth and the implementation of green initiatives. While Prague performs well globally in sustainable mobility, ranking 5th worldwide in an Arcadis index, its overall green development is hampered. Neighboring Bratislava and Berlin, for instance, show higher percentages of green infrastructure coverage. The lag in green infrastructure adoption means Czech cities are not fully realizing the potential of smart and green urban planning.
The future of cities lies in becoming "smart and green," integrating environmental improvements and climate protection into all urban operations. This includes utilizing renewable energy sources, optimized through digital technologies like smart meters and transformers, connecting energy production and consumption. Smart and green cities will also focus on social inclusion, ensuring equal access to services for all, and digital transformation for optimized operations using AI, IoT, and big data. They must also enhance risk management capabilities to respond effectively to unforeseen events, including climate change impacts. However, Czech cities, including Prague, lag behind Western European capitals in green infrastructure development, ranking 20th out of 37 major European cities. This is partly attributed to inflexible building legislation and bureaucratic burdens that hinder green initiatives. While Prague excels in sustainable mobility, its overall green development is hampered by these factors. Neighboring cities like Bratislava and Berlin show higher percentages of green infrastructure coverage, indicating a gap that Czech cities need to address to fully realize the potential of smart and green urban planning.
Are you among the 80% who haven't filed their tax return yet? You still have over 2 weeks, but it could also be almost 4 months
3/10/2023
Are you among the 80% who haven't filed their tax return yet? You have over 2 weeks, but it could also be almost 4 months.
As of March 10, 2023, only half a million tax returns, less than 20%, had be
Are you among the 80% who haven't filed their tax return yet? You have over 2 weeks, but it could also be almost 4 months.
As of March 10, 2023, only half a million tax returns, less than 20%, had been filed out of the expected total. The paper filing deadline is April 3rd, while the electronic deadline is a month later, May 2nd. Individuals with active data boxes are required to file electronically. Failure to do so may result in penalties. Data boxes, which are being set up for self-employed individuals, are crucial for communication with state administration and are mandatory for electronic tax return submission in XML format. Alternatively, self-employed individuals can use the "Moje daně" portal, accessible via bank identity.
The longest deadline, until July 3rd, applies when a tax advisor files the return on behalf of the taxpayer. This extension, up to six months after the end of the tax period, is granted via a power of attorney. Tax advisors offer significant convenience and administrative relief.
In summary, the majority of taxpayers are yet to file their tax returns. Key deadlines are approaching, with paper filings due April 3rd and electronic filings by May 2nd. Self-employed individuals with active data boxes must file electronically using XML format. The "Moje daně" portal offers an alternative electronic filing method. For the most extended deadline, taxpayers can authorize a tax advisor to file on their behalf by July 3rd, providing considerable administrative ease.
Consequence of Russian aggression. Russia's share of total EU exports has fallen by more than half since last February
2/23/2023
The consequence of Russian aggression. Russia's share of total EU exports has fallen by more than half since February last year.
February 23, 2023
Foreign trade between the European Union and Russia
The consequence of Russian aggression. Russia's share of total EU exports has fallen by more than half since February last year.
February 23, 2023
Foreign trade between the European Union and Russia has significantly declined since February 2022, following Russia's invasion of Ukraine. This affects both exports and imports. According to the latest Eurostat data, in February 2022, the Russian Federation accounted for 9.5 percent of imports into EU countries from non-EU states. Six months later, in September of last year, this figure had dropped to just 5.3 percent. In the same period, the share of exports from the EU to Russia decreased from 4 percent to 1.8 percent, a fall of over half.
The most drastic decline in imports from Russia to the EU has been in coal, falling by more than two-thirds. Before the war, 45% of coal came from Russia; in the third quarter of 2022, it was only 13%. The share of natural gas and oil imports was reduced by roughly half. Significant decreases were also observed in fertilizers, iron, and steel. For some raw materials, such as nickel, values actually increased during the observed period.
"Russia's importance as a trading partner for the EU has naturally decreased significantly in connection with the war, particularly concerning imports of energy and certain other raw materials into the European Union, which are restricted by EU sanctions. Initial uncertainty caused record energy price growth in European countries. However, we can be sure that Russian economy will be much more severely affected by these sanctions," comments Petr Kymlička, partner at advisory group Moore Czech Republic, adding that precise impact assessment is practically impossible due to the absence of reliable data on the Russian economy.
Exports dropped sharply, imports gradually.
Russia's share of total EU exports plummeted by about half month-on-month shortly after the invasion. Conversely, imports of commodities from Russia decreased gradually.
"Those who had the ability and willingness to stop exporting to Russia did so practically immediately. Imports from Russia could not be restricted so drastically; many states, including the Czech Republic, were dependent on supplies, especially of gas and oil. Imports therefore decreased gradually as alternative supplies were secured from other countries," Kymlička adds, noting that currently, the EU mainly exports medicines, food, and agricultural products to Russia, which are not subject to EU sanctions.
The balance of European-Russian foreign trade peaked in March last year, reaching 18.1 billion euros. By September, it had fallen to just 10.5 billion euros. The restriction of foreign trade is negatively impacting the performance of the Russian economy.
"The Russian economy is already experiencing significant weakening. Although official statistics speak of a GDP decline of around 2.5%, it is highly probable that this figure is heavily distorted and the real value is between 10 and 20%," concludes Petr Kymlička.
The Russian aggression has led to a significant decline in EU-Russia foreign trade. Russia's share of total EU imports fell from 9.5% in February 2022 to 5.3% by September. Similarly, EU exports to Russia dropped by over half, from 4% to 1.8%. The most affected import categories include coal, natural gas, oil, fertilizers, iron, and steel, with coal imports from Russia decreasing by over two-thirds. While some raw material imports saw increases, the overall trend reflects the impact of EU sanctions. Experts suggest the Russian economy is significantly weakened, with actual GDP decline likely much higher than official figures indicate. The trade balance between the EU and Russia also shrunk considerably.
Companies increasingly cooperate with schools. This way they are training future employees.
2/23/2023
Firms are increasingly collaborating with schools to cultivate future employees.
February 23, 2023
Czech companies are strengthening their partnerships with universities and secondary schools to bri
Firms are increasingly collaborating with schools to cultivate future employees.
February 23, 2023
Czech companies are strengthening their partnerships with universities and secondary schools to bridge the gap between education and practice. This collaboration benefits all parties, and for many companies, it's the only way to secure qualified and promising future employees. Experts from Moore Czech Republic note that industries, particularly manufacturing, are experiencing a significant increase in the average time needed to train new graduates. They aim to counteract this by integrating practical experience into education.
Czech graduates enjoy a strong position in the European job market due to a heated labor market, resulting in one of the lowest youth unemployment rates in Europe. Since spring 2018 until January of this year, there were more job openings than applicants in the Czech Republic. Lucie Krejčová from Moore Advisory CZ highlights that young Czechs are typically willing to relocate for work, a flexibility that is more challenging for older workers with established lives, contributing to structural unemployment in some regions.
The current demographic trend of fewer young people entering the workforce, born at the turn of the 21st century, exacerbates the existing worker shortage. Krejčová also points out that the quality of graduates from Czech secondary and higher education institutions is a concern. Clients are reporting increased difficulty in recruiting and training graduates, especially in technical fields, but shortages are also evident in economic positions. Graduates often lack practical experience, such as operating machinery.
To address this, companies are supporting education through school partnerships, aiming to improve graduate skill levels and gain a recruitment advantage. Radovan Hauk from Moore Czech Republic observes that while collaboration with industry has increased at leading Czech schools, there is still room for deeper integration that could benefit the entire country, without compromising academic roles.
Moore Czech Republic is actively fostering these educational collaborations. Beyond basic partnerships with universities like the University of Economics and the Czech University of Life Sciences, they have announced a strategic collaboration with Sting University, offering 100% scholarships to selected students in accounting to fill specialized and managerial roles immediately after graduation. The group plans to expand these intensive collaborations to secondary schools this year, focusing on accounting, finance, and information technology.
Sting offers a 100% scholarship and a dream career.
February 14, 2023
Imagine gaining practical experience at an attractive company while still studying, earning money, and having the company pay fo
Sting offers a 100% scholarship and a dream career.
February 14, 2023
Imagine gaining practical experience at an attractive company while still studying, earning money, and having the company pay for your tuition. Sounds good?
Sting College has entered into an exclusive partnership with Moore Czech Republic, a leader in auditing and consulting firms, and has introduced a new initiative that gives its students a significant career head start. Starting in 2023, Moore will not only provide selected students with practical experience and employment in the promising field of accounting, but will also grant them a 100% scholarship.
"Moore specifically prepares these individuals to fill higher positions, which would be more difficult to achieve after graduation without practical experience," adds Sting's rector, Jiří Koleňák, to the overall plan. The great news is that Sting is also offering this opportunity to students of combined study programs.
If you, as a Sting student, apply for the project and pass the selection process, you will receive paid practical experience throughout your three years of study, which is specifically designed to prepare you for financially very attractive positions in the future. Upon graduation, Moore will offer you an interesting position and an above-average starting salary in a field that is increasingly attractive to young people due to its flexibility and growing digitalization.
The field of accounting is developing very dynamically, responding to current trends and the demands of the younger generation. "Today, you don't have to sit in an office from 8 a.m. to 4 p.m.; you can work from home. It's an ideal job for a woman with children, or for young people who don't want to be tied to fixed working hours," explains Radovan Hauk, a partner at Moore Czech Republic. "The new generation will bring their confident orientation in the digital environment to this field. Thanks to this, they have the opportunity to master the field completely," adds Jiří Koleňák.
Accounting will undergo radical development in the future thanks to digitalization. Accountants will be freed from routine, error-prone tasks. You will no longer have to deal with tedious transactions, but will have room for more creative and sophisticated work, which is also very well paid. "Independent accountants earn an average of 50,000 CZK, and in Prague, the salary for a head accountant starts from 80,000 CZK upwards," explains Radovan Hauk. Sting College thus fulfills its commitment to prepare students for competition in the job market. Sting's vision is to educate capable, flexible individuals who understand industry trends, gain valuable experience through practical work, and can thus grow their careers very quickly. "Students will receive a clear benefit for their academic efforts and will effectively combine theory with practice," concludes Jiří Koleňák.
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Sting College has partnered with Moore Czech Republic to offer a unique opportunity for selected students: a 100% scholarship, paid practical experience for three years, and guaranteed employment upon graduation. This initiative aims to give students a significant career advantage in the dynamic field of accounting. The program is designed to prepare students for higher-paying roles, with starting salaries for head accountants in Prague exceeding 80,000 CZK. Moore emphasizes the growing flexibility of accounting careers, including remote work options, appealing to the modern workforce. The digitalization of accounting will shift focus from routine tasks to more creative and sophisticated work. This collaboration aligns with Sting's mission to produce well-rounded, adaptable graduates ready for the job market, effectively bridging theory and practice.
Martin Buranský becomes the new partner of Moore Czech Republic advisory group
2/7/2023
Martin Buranský Joins Moore Czech Republic as Partner
February 7, 2023
Moore Czech Republic has strengthened its leadership team with the appointment of Martin Buranský as a new partner. Effective f
Martin Buranský Joins Moore Czech Republic as Partner
February 7, 2023
Moore Czech Republic has strengthened its leadership team with the appointment of Martin Buranský as a new partner. Effective from early February, Buranský will join Moore Advisory CZ, taking responsibility for the management consulting division.
In his new capacity, Buranský will lead a team of experienced consultants specializing in strategic management, process optimization, management system setup, organizational development, and cost reduction. He will also contribute to the strategic growth of management consulting and its integration with other areas of Moore Czech Republic's operations.
Buranský expressed his enthusiasm for joining the rapidly growing Moore Czech Republic, stating that his new role will allow him to leverage his extensive experience in management consulting, financial management, and investor relations to drive further growth. He aims to expand management consulting into new sectors like energy and banking, attracting clients who value Moore's unique blend of knowledge and practical experience.
Buranský is a recognized expert in financial management, with prior leadership roles at ČSOB, CITIC, and Deloitte, where he served as Chief Financial Officer for the audit division.
Radovan Hauk, co-founder of Moore Czech Republic, welcomed Buranský, highlighting his deep understanding of the consulting business, ability to connect with clients and teams, and his potential to accelerate the growth of the management consulting sector. Hauk also noted Buranský's contributions to inter-group service integration, drawing on his financial management expertise, general management insight, and educational experience.
Buranský is also active in the non-profit sector, serving on the board of the Association of Family Firms and PORG (First Renewed Real Gymnasium). Previously, management consulting was primarily handled by partners Radovan Hauk and Marcela Hrdá, who will now focus more on the overall development of Moore Czech Republic.
2021 Marked by Increased Energy Consumption. Czech Republic Recorded the 3rd Highest Increase in the Union
1/19/2023
In 2021, the Czech Republic experienced the third-highest increase in final energy consumption within the European Union, with a 3.3% rise compared to the 2017-2019 pre-pandemic average. Only Romania
In 2021, the Czech Republic experienced the third-highest increase in final energy consumption within the European Union, with a 3.3% rise compared to the 2017-2019 pre-pandemic average. Only Romania and Bulgaria saw larger increases, while Hungary shared the third spot with the Czech Republic. In contrast, 19 EU member states recorded a decrease in energy consumption. Experts anticipate further energy consumption declines across Europe in the coming months due to cost-saving measures by businesses and households in response to high prices. The Czech Republic, facing some of the highest prices, is expected to see significant consumption reductions in 2022 and 2023.
Overall, the EU saw a 2.1% decrease in energy consumption, with Central and Eastern European countries primarily driving the growth. Malta achieved the largest savings at 10%. Experts note that Western European countries were more successful in implementing energy-saving measures compared to the Czech Republic. Looking ahead, high electricity prices are likely to continue to drive energy-saving initiatives across the EU, impacting overall consumption.
The EU’s final energy consumption in 2021 was 14.4% above its 2030 target. While the EU’s overall energy consumption has been decreasing since 2006, reaching the 2030 target of 850 million tonnes of oil equivalent would require an annual saving of approximately 2.1%, a rate equivalent to the overall drop recorded between the pre-pandemic years and 2021.
Digitalization is the future of the financial sector. However, the Czech Republic is lagging behind in it.
1/17/2023
Digitalization is the future of the financial sector, but the Czech Republic lags behind. A recent McKinsey & Company report indicates that 51% of banks have a return on equity lower than their cost o
Digitalization is the future of the financial sector, but the Czech Republic lags behind. A recent McKinsey & Company report indicates that 51% of banks have a return on equity lower than their cost of equity. Experts from Moore Global attribute this to slow digitalization, contrasting it with the high adoption rates seen in fintech startups and progressive financial companies.
Fintech startups have emerged as significant players, offering innovative products and services beyond traditional banks, driven by smart technologies. Ewen Fleming of Moore Global highlights the rapid pace of innovation, stating that many traditional players are unprepared. He advises traditional banks to redefine their purpose, diversify their customer base, and focus on building profitable segments while managing risks effectively.
The burgeoning fintech sector is pushing traditional banks toward innovation. Petr Kymlička of Moore Czech Republic predicts a future where new technologies are paramount in finance, with fintech integrating more areas and traditional institutions increasingly resembling fintech firms, blurring the lines between them.
In post-communist countries, including the Czech Republic, the financial sector appears less developed technologically compared to Western nations. Kymlička notes that fintech's contribution to the Czech financial sector's total revenue is only in the low single digits, largely due to conservative approaches from both banks and customers. However, he observes recent improvements driven by increased digital literacy, better technology access, and reduced language barriers. He also points to significant venture capital allocation to fintech, crucial for project development.
Survey among self-employed: The state is setting up data boxes for them, most of them are counting on it
1/16/2023
The Czech Republic is mandating the establishment of electronic data boxes for all self-employed individuals (OSVČ), with all official communication shifting to this digital channel by the end of the
The Czech Republic is mandating the establishment of electronic data boxes for all self-employed individuals (OSVČ), with all official communication shifting to this digital channel by the end of the first quarter of 2023. This affects approximately two million OSVČ and 200,000 legal entities. A survey by Moore Czech Republic found that 86% of self-employed individuals were aware of this change by the end of 2022.
Experts view this transition as a crucial step in the digitalization of public administration, simplifying communication, increasing efficiency, saving costs, and benefiting the environment. While about half of surveyed OSVČ already had a data box, the Ministry of the Interior expects an additional 2.2 million to be established in early 2023. The transition is anticipated to be smooth, given the high awareness among OSVČ and the active usage rates of existing data boxes. Access codes will be sent via registered mail by the end of March 2023. A potential issue may arise for those with outdated addresses on their identification documents, as all official correspondence will be considered automatically delivered once placed in the data box, following a change in legislation.
New lump-sum tax system: Exceeding the limit by a thousand crowns can mean an increase in contributions of up to 120,000
12/15/2022
New Flat-Rate Tax System: Exceeding the Limit by a Thousand Koruna Can Mean an Increase in Levies of Up to 120,000
December 15, 2022
A recently passed amendment to the Income Tax Act introduces an i
New Flat-Rate Tax System: Exceeding the Limit by a Thousand Koruna Can Mean an Increase in Levies of Up to 120,000
December 15, 2022
A recently passed amendment to the Income Tax Act introduces an increase in the income limit for self-employed individuals (OSVČ) to join the flat-rate tax regime. It also implements a tiered system where entrepreneurs will pay different flat-rate tax amounts based on their income. The Ministry of Finance expects this new legislation to enhance the attractiveness of the flat-rate tax. Experts from the consulting group Moore Czech Republic agree but highlight that the new system is overly complex and likely to deter many potential participants. For OSVČ, controlling income will be more critical than ever.
The uptake of the flat-rate tax regime by OSVČ has so far fallen short of the Ministry of Finance's expectations. Martin Pech from Moore Czech Republic cited the regime's relative newness, strict January 10th entry deadline, and the fact that OSVČ typically handle their taxes over a year later as reasons for the low adoption. Currently, only about 79,000 OSVČ are in the flat-rate system, out of over 1 million in the Czech Republic.
Pech views the increased income limit as positive, but stresses that the proposed tiered structure and conditions for determining which tier an OSVČ falls into can be very complicated. This complexity arises from the need to calculate applicable expenditure allowances (60% or 80%) based on their various activities, making it difficult for those with diverse income streams to determine their correct tax bracket. He advises OSVČ to conduct control calculations at the end of each year and consult with a tax advisor if unsure, as miscalculations could lead to annual levy differences exceeding 100,000 koruna.
The system also has implications for income fluctuations. If income drops and an OSVČ qualifies for a lower tier, they can switch and receive a refund. However, if income increases and they move to a higher tier, they must remain in that tier for at least one year, even if their income later qualifies them for a lower one. This inflexibility might make exiting the flat-rate system more advantageous in some cases. Pech warns that a mere thousand koruna increase in income above a tier's limit could result in a 120,000 koruna increase in annual levies.
Deterioration of financing, investment restrictions, and layoffs. All this awaits domestic businesses in the coming months.
12/1/2022
Deteriorating financing, restricted investments, and layoffs await Czech businesses in the coming months.
Czech companies are bracing for the consequences of an expected recession. Beyond worsening e
Deteriorating financing, restricted investments, and layoffs await Czech businesses in the coming months.
Czech companies are bracing for the consequences of an expected recession. Beyond worsening economic performance due to record inflation and reduced demand, businesses will also face investment limitations, potentially leading to temporary or permanent operational interruptions. Experts from Moore Czech Republic highlight both short-term challenges and long-term impacts. Companies will need to adapt through changes in education, digitalization, and energy productivity to maintain competitiveness. Over half of Czech firms anticipate a decline in economic results compared to earlier plans, primarily driven by inflation, which reached 15.1% year-on-year in October 2022. Inflation harms businesses by increasing input costs and reducing customer purchasing power, with demand reduction expected to be most pronounced in the first half of next year, pushing the Czech economy towards stagflation.
Short-term effects include deteriorating operational financing, forcing businesses to cut costs, reduce non-essential purchases, and implement layoffs. Companies will struggle with liquidity and face difficulties obtaining credit due to rising interest rates and bank caution. Strategic investments are likely to be restricted or postponed, and some financially weaker, energy-intensive small and medium-sized enterprises may cease operations entirely.
Long-term, energy-intensive firms with low productivity must invest in technological innovation to enhance energy efficiency and competitiveness, as energy prices are unlikely to return to previous levels. Future success will depend on focusing on high-value activities and customer segments, with a strong emphasis on research and development for industrial enterprises. Human resource management will be crucial, with firms seeking digital and automated solutions to offset rising labor costs. Upskilling and reskilling employees will be essential due to technological advancements, an aging population, and generational shifts. The Czech Republic lags in adult education, impacting economic performance, productivity, and competitiveness, necessitating government support. Demographic trends will increase demand for foreign workers and more flexible employment arrangements, potentially integrating economically inactive segments of the population, such as seniors and caregivers, into the workforce.
Companies Emphasizing ESG Grow Revenues Twice as Fast. Their Stocks Also Perform Better.
11/21/2022
Companies prioritizing ESG see their revenues grow twice as fast, with their stocks also performing better. A survey by Moore Global reveals that businesses actively engaging with ESG principles exper
Companies prioritizing ESG see their revenues grow twice as fast, with their stocks also performing better. A survey by Moore Global reveals that businesses actively engaging with ESG principles experienced a 9.1% profit increase over the past three years, more than double the 3.7% growth of laggard firms. Eighty-four percent of companies recognizing ESG's importance reported an improved ability to attract external investors. Stock market data supports this, showing sustainable stocks yielded around 28% compared to a 22.3% overall market return last year. The MSCI World SRI index, comprising ESG-focused companies, outperformed a similar non-ESG index by 1.7 percentage points annually between 2016 and 2021. Globally, nearly 80% of large corporations consider ESG more important than three years ago, with only 6% showing no interest.
However, the Czech Republic lags behind Western Europe in ESG adoption, with a lack of broad awareness. A June survey by Moore Czech Republic found only 25% of senior managers in medium and large Czech firms are familiar with ESG. While awareness is growing, some firms have deprioritized ESG due to economic downturn concerns. Nevertheless, customers increasingly value ESG, with 89% of retailers focused on ESG retaining customers better. The ESG consulting market in the Czech Republic, currently in the tens of millions of Czech crowns, is projected to grow significantly to hundreds of millions annually within 3-5 years, driven by upcoming legislation. This new legislation will expand mandatory ESG reporting to publicly traded companies with over 500 employees in 2025, and to businesses with over 250 employees or significant financial metrics in 2026. Small and medium-sized listed companies will also need to issue non-financial reports from 2027.
Czech Economy Advantage: Small Businesses Create 35% of Value Added
10/12/2022
The Czech economy benefits from a balanced distribution of value added among businesses of different sizes. Small businesses contribute 35% of the total value added, while medium-sized enterprises (50
The Czech economy benefits from a balanced distribution of value added among businesses of different sizes. Small businesses contribute 35% of the total value added, while medium-sized enterprises (50-249 employees) account for 21%, and large companies (over 250 employees) make up the remaining 44%. This structure is considered advantageous for overall economic stability and development.
In terms of employment, small businesses employ around 48% of the workforce, medium-sized firms 19%, and large companies 33%. This balance places the Czech Republic near the European average, which is seen positively by experts. The country's business structure is a success, especially considering the historical near-elimination of small and micro enterprises post-WWII.
While small businesses are more vulnerable to economic downturns, their flexibility allows for quick replacement, mitigating significant unemployment impacts. This is further supported by the Czech Republic's low unemployment rate, which can absorb company failures. Comparing to other EU states, the Czech Republic's distribution is better than Italy, where small businesses contribute half the value added, and only five EU states, including Germany, have a smaller contribution from small and micro enterprises. Estonia also shows a significant contribution from small and medium businesses, while Ireland, due to its tax system, relies heavily on large corporations.
Czech investments in research and development lag behind the EU average. In the analyzed period, the EU average investment was significantly higher at 244.3 euros per capita, while Czechia's annual in
Czech investments in research and development lag behind the EU average. In the analyzed period, the EU average investment was significantly higher at 244.3 euros per capita, while Czechia's annual increase in R&D investment last year was below average at 1.4% compared to the EU's 6.3%. Experts emphasize that increasing these investments is crucial for transforming the Czech economy into one with higher added value and for attracting foreign investors.
While the absolute amount invested in R&D in Czechia has grown, its share of the state budget has decreased. In 2020, the state budget allocated 2.1% to R&D, a decrease from 2017. Experts note that state support for R&D acts as an impulse for the private sector, encouraging corporate investment. Long-term state spending focuses on knowledge development, primarily within universities and the Academy of Sciences. However, a significant challenge is the growing difficulty in connecting education with practical application and fostering closer cooperation between schools and companies, particularly in technical fields, to address a future shortage of skilled technical workers. Despite efforts to catch up with Western and Northern European countries, the gap in R&D investment remains substantial. However, within the former Eastern Bloc, Czechia's R&D investment as a percentage of GDP (0.64% in 2020) was the second highest after Estonia, and per capita investment also ranked highly among these nations.
Moore Czech Republic Group is again growing by leaps and bounds – it has entered Bene Factum, HZConsult and Audikon
9/20/2022
Moore Czech Republic is experiencing rapid growth with the acquisition of Bene Factum, HZConsult, and Audikon. This strategic move significantly strengthens Moore Audit CZ, positioning it among the to
Moore Czech Republic is experiencing rapid growth with the acquisition of Bene Factum, HZConsult, and Audikon. This strategic move significantly strengthens Moore Audit CZ, positioning it among the top 10 auditing firms in the Czech Republic. The acquisition of Bene Factum also introduces a new service area for Moore Czech Republic: expert appraisal services.
These acquisitions bolster Moore Czech Republic's offerings in statutory audits and other audit services, including grants, state-funded projects, EU and World Bank programs, and forensic audits. Furthermore, taking over Audikon enhances Moore Accounting CZ's outsourcing division.
The company's audit division is growing faster than anticipated, with 2022 marking its entry into the top ten Czech audit firms. This growth is driven by both organic expansion and the acquisition of quality auditing companies. Bene Factum and HZConsult, with their long-standing market presence and prestigious client base, are key additions.
The integration of expert appraisal services in economics is a significant development, filling a gap in Moore Czech Republic's service portfolio and enabling new offerings such as business valuations, securities, tangible and intangible assets, and business shares.
The acquired companies bring experienced auditors, tax advisors, accounting specialists, and appraisal experts, serving a diverse clientele including large domestic and international companies, municipalities, and non-profit organizations. This expansion adds approximately 30 employees and nearly 40 million CZK in annual revenue, with Moore Audit CZ now employing around 40 audit specialists across its offices.
Czech Republic Lags in Artificial Intelligence, Only 4% of Companies Use It
9/6/2022
Czech companies lag significantly in the adoption of Artificial Intelligence (AI), with only 4% utilizing it, placing the country 18th among EU nations. Denmark leads with 24%, while Romania is last a
Czech companies lag significantly in the adoption of Artificial Intelligence (AI), with only 4% utilizing it, placing the country 18th among EU nations. Denmark leads with 24%, while Romania is last at 1%. Experts highlight AI's critical role in digital transformation and economic growth, essential for maintaining competitiveness. The Czech Republic, however, shows strength in adopting the Internet of Things (IoT), with 31% of companies using it, surpassing the EU average of 29% and ranking ninth highest.
AI and IoT are vital for automation and digitalization, addressing labor shortages by automating tasks and creating new roles requiring higher skills. This necessitates a focus on reskilling and modernizing lifelong learning systems. The Czech government supports AI development through its National Recovery Plan, a crucial step, although the extent to which companies can leverage this support remains a concern. AI has significant potential to improve services, industry, logistics, and warehousing by reducing costs and enhancing quality. IoT is primarily used in warehousing, logistics, and increasingly in industry for data collection, improving efficiency and safety.
Tourism Revives After Two-Year Slump. Current Threats Include Economic Recession and High Inflation
9/5/2022
The tourism industry is experiencing a resurgence after a two-year downturn, with global international passenger traffic projected to increase by 30-78% year-on-year. However, this recovery faces sign
The tourism industry is experiencing a resurgence after a two-year downturn, with global international passenger traffic projected to increase by 30-78% year-on-year. However, this recovery faces significant headwinds from economic recession and high inflation.
A major challenge is a severe labor shortage across the sector, exacerbated by the pandemic which led to millions of job losses in tourism. Many former employees have found work elsewhere and are reluctant to return due to ongoing uncertainty. This labor deficit is accelerating digitalization, with hotels increasingly adopting automated solutions like self-check-in, robot service, and app-based operations to compensate for staff shortages and reduce costs.
The market is also undergoing post-crisis consolidation, with financially resilient companies acquiring weaker competitors. Despite the recovery, the industry remains volatile, with investors factoring in high-risk premiums. The long-term impact will be influenced by rising energy prices and declining household incomes.
The tourism sector has experienced a revival after a two-year slump, with global international travel expected to rise significantly. However, this recovery is threatened by economic recession and high inflation. A critical issue is the widespread labor shortage, a direct consequence of the pandemic's impact on employment within the industry. Many workers have moved to other sectors and are hesitant to return due to persistent uncertainty.
This labor deficit is driving rapid digitalization, particularly in the hotel sector. Businesses are implementing automated solutions, including self-check-in kiosks, robotic services, and app-based systems, to address staffing gaps and manage operational costs. The market is also seeing a post-crisis consolidation phase, where stronger companies are acquiring struggling businesses. Despite these trends, the industry remains precarious, with investors factoring in significant risk premiums, and future developments will be shaped by factors like energy prices and consumer spending power.
Return to pre-pandemic GDP levels failing. Czech Republic fifth worst in EU
8/4/2022
The Czech Republic is struggling to return to pre-pandemic GDP levels, ranking fifth worst among EU countries by the end of 2021. Its GDP was only 97.8% of its 2019 value. A Moore Czech Republic analy
The Czech Republic is struggling to return to pre-pandemic GDP levels, ranking fifth worst among EU countries by the end of 2021. Its GDP was only 97.8% of its 2019 value. A Moore Czech Republic analysis revealed that 10 EU countries hadn't recovered, with Spain, Portugal, Italy, and Austria faring worse than the Czech Republic. While 17 EU countries surpassed their 2019 GDP by late 2021, the Czech Republic did not. The country experienced the tenth strongest economic decline in 2020 and the fourth weakest growth in 2021.
Reasons cited for this underperformance include often exaggerated and chaotic anti-epidemic measures and unsystematic state support. These measures, intended to curb the pandemic, also failed to significantly reduce deaths, with the Czech Republic having the fourth worst death rate per million inhabitants in the EU.
Despite extensive government compensation and support aimed at mitigating the pandemic's economic impact, experts believe these measures missed an opportunity to streamline the market by removing inefficient businesses, thereby hindering a shift towards a higher value-added economy. Furthermore, fiscal expansion contributed to a dramatic increase in inflation, making the Czech Republic one of the most affected nations. Neighboring Germany, Austria, and Slovakia also saw GDP below 99% of their 2019 levels, with Austria performing slightly worse than the Czech Republic. Poland, however, experienced overall economic growth of 3.6% over two years. Ireland emerged as the top performer, with its GDP increasing by over 20% since the end of 2019, attributed to targeted, time-limited restrictions and its status as a developed knowledge economy focused on services and high-tech industries, benefiting from economic freedom and foreign investment. Nine EU countries, including Ireland and Poland, saw overall GDP growth exceeding 2% from the end of 2019.
Czech self-governing bodies learn to plan better. The United Kingdom is the role model
7/19/2022
Czech municipalities are learning to plan better, with the United Kingdom serving as a model. The Czech Republic is undergoing a dynamic shift in strategic planning for its regions, cities, and munici
Czech municipalities are learning to plan better, with the United Kingdom serving as a model. The Czech Republic is undergoing a dynamic shift in strategic planning for its regions, cities, and municipalities over the next five years. New strategic planning tools, including megatrends, foresight, forecasting, scenario building, and early warning systems, are being introduced to improve preparedness and decision-making processes. This is driven by increasing uncertainties that necessitate better future predictions.
The UK's extensive use of foresight since the 1990s has been influential. Foresight, a system of qualitative and quantitative tools, helps prepare for future developments. Currently, Czech municipalities tend to focus heavily on analyzing the past, with analytical sections making up a significant portion of strategic documents, contrary to recommended guidelines that emphasize future-oriented thinking. Pilot programs in five Czech cities have tested these innovative tools, with foresight being particularly crucial.
The Ministry for Local Development is supporting this modernization through methodological recommendations and training modules. These tools have been successfully applied in cities of various sizes, demonstrating their applicability. The ultimate goal is to achieve higher-quality strategic planning that enables timely responses to future needs, thereby increasing the efficiency of financial resources and improving citizens' quality of life.
ROMAN KONEČNÝ BECOMES THE NEW GENERAL DIRECTOR OF SERVODATA
7/13/2022
ROMAN KONEČNÝ BECOMES NEW GENERAL DIRECTOR OF SERVODATA
July 13, 2022
Servodata a.s. announces Roman Konečný as its new General Director, effective July 13, 2022. While this leadership change is sig
ROMAN KONEČNÝ BECOMES NEW GENERAL DIRECTOR OF SERVODATA
July 13, 2022
Servodata a.s. announces Roman Konečný as its new General Director, effective July 13, 2022. While this leadership change is significant, the company's operational continuity and future development will be supported by both Konečný and the outgoing director in their new capacities. Konečný's primary objective is to drive the company's newly established strategic direction.
"We need to leverage Servodata's long and successful history as the foundation for its ongoing development," stated Konečný. "We offer personalized approaches to find reliable solutions for growing data volumes across various industries, particularly in IoT, cognitive systems, and AI. Cybersecurity is an integral part of our unique products and services."
The company's strategy will encompass its core strengths: application development, integration projects, service desk and IT support, the Atlassian team, a new focus on hardware integration, and cybersecurity through its subsidiary DoxoLogic. Miloslav Rut, a partner at Moore Technology CZ, welcomed Konečný, wishing him success in his new role and Servodata continued business achievements.
Konečný brings extensive IT experience, previously serving as Business Unit Manager VAD, Solutions and Projects at ASBIS and Business Director at ASUS Computer. He holds degrees in Business Management and Economics and Electrical Engineering and Computer Science from Brno University of Technology. His hobbies include ice hockey and tennis, but his family remains his priority.
Servodata has been a strategic partner in business and technological solutions in the Czech market for 26 years, focusing on Business Portals, Project and IT Management, Business Process Management, Customer Care, and Business Intelligence.
Servodata is a 26-year-old Czech company committed to being a high-level strategic partner for its clients in business and technology. Its core service areas include Business Portals, Project and IT Management, Business Process Management, Customer Care, and Business Intelligence. The company emphasizes an individual approach to solving complex data challenges, particularly within IoT, cognitive systems, and AI applications. Cybersecurity is a fundamental component of its offerings, managed through its subsidiary DoxoLogic. The new General Director, Roman Konečný, aims to build upon Servodata's established history, integrating its proven strengths like application development and integration projects with a renewed focus on hardware and enhanced cybersecurity. This transition ensures operational continuity while pursuing future growth and innovation.
Only a quarter of managers have heard of ESG. From next year, it will affect thousands of companies
6/22/2022
Only a quarter of managers are aware of ESG, which will affect thousands of companies starting next year.
A survey by Moore Czech Republic reveals that only 25% of managers are familiar with Environm
Only a quarter of managers are aware of ESG, which will affect thousands of companies starting next year.
A survey by Moore Czech Republic reveals that only 25% of managers are familiar with Environmental, Social, and Governance (ESG) principles. Despite this low awareness, a new European directive will mandate ESG reporting for thousands of Czech companies starting in 2023. This requirement will gradually extend to all large companies with over 250 employees and publicly traded small and medium-sized enterprises.
Interestingly, among those who are aware of ESG, nearly three-quarters view it as a beneficial step. These informed managers see ESG as a strategic advantage, crucial for maintaining competitiveness and potentially increasing profitability. Many recognize the importance of social responsibility and sustainability in their business practices.
However, the overall lack of awareness is concerning. Experts emphasize the urgency for companies to educate themselves and adapt to ESG strategies and related legislation, as reporting will soon become unavoidable. Banks are already beginning to consider ESG data when assessing loan opportunities and pricing. The Moore network is actively preparing to support clients in this evolving landscape, with a European meeting planned to share best practices. The success of this transition hinges on whether companies embrace the new requirements proactively or perceive them as mere bureaucracy.
The public is not interested in quotas. Less than 25% are in favor of introducing them.
6/21/2022
A survey by Moore Czech Republic reveals that the public shows little interest in quotas to increase the number of women in leadership positions. Less than 25% of respondents support quotas for corpor
A survey by Moore Czech Republic reveals that the public shows little interest in quotas to increase the number of women in leadership positions. Less than 25% of respondents support quotas for corporate leadership, and only around 30% favor them for elected political roles. While a majority (six out of ten) believe more women in management benefit a company, many doubt the authority of women who achieve positions through quotas, with significant numbers of both men and women believing their authority wouldn't be comparable to those who advance through merit.
The survey also indicates that the topic of quotas is not widely discussed or perceived as important by the general public. Experts suggest that implementing quotas could disrupt corporate succession planning and internal culture. Instead of quotas, the focus should be on supporting women's career development through flexible work arrangements, childcare support, and educational initiatives that challenge traditional stereotypes. Czech Republic lags behind the EU average in the percentage of women in management roles.
There is no room to increase the minimum wage by 2 thousand. Companies are still paying extra of their own accord.
6/7/2022
There is no room for a 2,000 increase in the minimum wage. Nevertheless, companies are paying more on their own.
Companies, alongside rising raw material prices and higher interest rates, may face an
There is no room for a 2,000 increase in the minimum wage. Nevertheless, companies are paying more on their own.
Companies, alongside rising raw material prices and higher interest rates, may face another cost threat in the form of enforced higher wages. According to experts at the consulting group Moore Czech Republic, it is not the right time for such a significant increase, and in the context of high demand in the labor market, it is an unnecessary administrative step. Many employees are achieving wage growth – companies are driven to increase them precisely by labor shortages.
Due to the state of the labor market, where there has been a long-term shortage of labor in many professions, companies are forced to give employees raises if they don't want to lose them. During the first quarter of this year, the nominal average wage increased by 7.2% year-on-year. Considering the rapid growth of consumer prices, it is clear that most workers will not see a real improvement this year.
"Employers are trying to retain their employees by increasing wages so they don't go to the competition, for example. It's a natural step, as replacing them is either many times more expensive or even impossible," states Radovan Hauk, partner at Moore Czech Republic.
Experts from Moore Czech Republic point out that although less than 3% of employed people work for the minimum wage in the Czech Republic, the impact of this change would be much wider, as the guaranteed wage also increases with the minimum wage. This sets the lowest possible wage for individual professions, which are divided into eight so-called occupational groups and arranged by complexity, effort, and responsibility.
"A leap increase in the minimum wage would particularly harm smaller businesses in sectors with lower added value and therefore low margins. It is precisely for them that this change, along with other external factors such as rising input prices, more difficult credit, or reduced sales, could be fatal," warns Radovan Hauk, adding that wage growth significantly exceeding labor productivity contributes to the emphasis on digitalization and automation, which often replaces the activities of low-skilled labor.
Changes at the European level.
The minimum wage varies significantly across the European Union. While the highest is in Luxembourg (2,257 euros) and Ireland (1,775 euros), the lowest is set in Bulgaria (332 euros) and Latvia (500 euros). The Czech Republic, with its 16,200 CZK (656 euros), ranks fifth from the bottom. Negotiations are currently underway within the European Union between the European Council, the European Commission, and the European Parliament on a proposal for new unifying legislation. According to Radovan Hauk, setting the minimum wage level should remain entirely with individual member states. The increase must reflect the state of the economy, the specifics of the national economy, and, above all, productivity growth.
"A radical increase in the minimum wage, which could result from a potential European Union regulation, would put domestic employers in a difficult situation and would certainly lead to a loss of competitiveness," he concludes, adding that potential legislative unification will not apply to the six countries that do not have the institution of the minimum wage at all. These are Denmark, Finland, Italy, Cyprus, Austria, and Sweden.
Companies are facing increased costs from rising raw materials, higher interest rates, and the potential for enforced higher wages. Experts believe now is not the time for a significant minimum wage hike, especially given the strong demand for labor. Businesses are already proactively increasing wages to retain employees due to shortages, as replacing staff is often more expensive or impossible. While few people earn the minimum wage, an increase affects guaranteed wages for all professions. Smaller businesses in low-margin sectors would be particularly vulnerable to such a change, potentially leading to fatal consequences when combined with other economic pressures. The push for digitalization and automation is also a response to rising labor costs that outpace productivity. Across the EU, minimum wages vary greatly, with the Czech Republic ranking low. Proposed EU-wide minimum wage legislation is being discussed, but experts advocate for national autonomy in setting wages, emphasizing the need to align increases with economic conditions and productivity growth. They warn that a drastic EU-mandated increase could harm Czech employers' competitiveness, excluding countries without a minimum wage system.
Abolition of EET is a step backward. The state should at least support a voluntary registration regime.
EET 폐지는 시대적 퇴보입니다. 정부는 최소한 자율 등록제라도 지원해야 합니다.
6/3/2022
The cancellation of the Electronic Records of Sales (EET) system is a step backward for the Czech economy. Despite initial difficulties, EET offered significant benefits, including continuous monitori
The cancellation of the Electronic Records of Sales (EET) system is a step backward for the Czech economy. Despite initial difficulties, EET offered significant benefits, including continuous monitoring of economic activity by sector and region, facilitating digitalization, and providing businesses with an effective internal control tool. Its abolition has paradoxically led to a decrease in cashless transactions as some businesses revert to unrecorded cash payments.
Experts propose retaining EET on a voluntary basis (DEET). This would allow the state to encourage honest businesses by offering incentives and simplifying administration, preventing them from being disadvantaged by unfair competition. A voluntary EET system could also serve as a platform for electronic receipts and further advance the digitalization of economic transactions and tax reporting. Implementing DEET, particularly for sectors previously slated for EET, could be achieved quickly with a minor legislative amendment. This approach could help manage the economy, address national debt, and signal support for transparent business practices.
The cancellation of the Electronic Records of Sales (EET) system is viewed as detrimental to the Czech economy. Despite initial challenges, EET provided valuable economic insights and promoted digitalization. Its abolition has inadvertently increased reliance on unrecorded cash transactions, undermining cashless payments. Experts advocate for a voluntary EET (DEET) model, which would incentivize honest businesses and simplify administrative processes. This voluntary system could further digitalize economic transactions and tax reporting, helping the state manage the economy and national debt while supporting transparent business practices. Implementing DEET swiftly, especially for previously included sectors, is feasible through minor legislative changes. This approach would create a foundation for further economic digitalization and improve business-state communication.
Inflation Reduces M&A Activity. Investors Change Their Decision-Making in Uncertain Times
6/3/2022
Inflation is significantly curbing mergers and acquisitions (M&A) activity as investors adjust their decision-making amidst growing uncertainty. While rising credit costs play a role, the primary driv
Inflation is significantly curbing mergers and acquisitions (M&A) activity as investors adjust their decision-making amidst growing uncertainty. While rising credit costs play a role, the primary driver is the high inflation rate, which diminishes the value of cash holdings and purchased assets, especially real estate. This caution prompts many sellers to re-evaluate or postpone transactions.
Furthermore, increased interest rates, a response to inflation, make financing more expensive. This impacts both the structure of deals and the fundamental decision of whether to invest at all. Even completed transactions financed with variable-rate loans face risks if hedging strategies aren't in place, potentially eroding investment rationales as real profits decline. The fear of losing purchasing power on bank deposits also contributes to investor hesitancy. Consequently, there's a notable surge in demand for acquisition advisory services as businesses seek to navigate these complex market conditions and carefully assess the financial performance of target companies.
Prices are rising, the DPP limit is not. An increase would help vulnerable groups and contribute to labor market flexibility
5/25/2022
Prices are rising, but the limit for DPP is not. An increase would help vulnerable groups and contribute to labor market flexibility.
Radim Darebník
May 25, 2022
This type of contractual relationsh
Prices are rising, but the limit for DPP is not. An increase would help vulnerable groups and contribute to labor market flexibility.
Radim Darebník
May 25, 2022
This type of contractual relationship is often used by single mothers or pensioners due to its flexibility. The current limit of ten thousand Czech crowns has been in place since 2012, while consumer prices have increased by 38% since then. Raising this limit would incentivize employers to create new job opportunities and hire people for part-time roles. Furthermore, it would help many individuals better manage the current and anticipated rapid rise in the cost of living. This change would enhance labor market flexibility and partially address the shortage of employees.
When working under an agreement to perform work (DPP), if an employee signs a taxpayer's declaration for earnings up to 10,000 CZK, they are exempt from income tax and health and social insurance contributions. The last increase to this limit occurred in 2012, raising it from 5,000 CZK to the current 10,000 CZK. For context, the average gross monthly wage has increased by 51% since then, and the minimum wage has risen by 103% in the last decade. In line with consumer price increases, monetary thresholds for offenses and crimes have also recently been adjusted.
"Ten thousand crowns held significantly more value ten years ago than it does today. This is reflected in many areas, but not yet for agreements to perform work. Therefore, it would make sense to consider this in the context of increasing the limit that determines the exemption from social and health insurance contributions and withholding tax," states Radovan Hauk, partner at Moore Czech Republic.
An increase of 5,000 CZK
According to experts from Moore Czech Republic, an increase in the limit would be welcomed by both employers and the demographic groups for whom this employment arrangement is intended, namely students, pensioners, and parents on parental leave who are already insured by law. "Given the rise in inflation and wages since 2012, when the current limit for withholding tax on agreements to perform work of 10,000 CZK was established, the current economic situation would correspond to a limit of around 15,000 CZK. An increased limit would lead employers to expand their offerings of part-time jobs through agreements to perform work," says Radovan Hauk. Additionally, the change could at least partially address the long-standing labor market issue of a surplus of vacancies.
"Information from our membership base indicates that the use of agreements to perform work has slightly decreased in recent years because the limit is too low and no longer makes economic sense. Agreements to perform work have always been a useful tool for earning extra income and gradually integrating into the workforce, whether for young people during their studies or for mothers preparing to return to work after parental leave. Well-structured agreements also allow employers to cover demand fluctuations and fulfill orders with time constraints more quickly," adds Tomáš Prouza, President of the Association of Commerce and Tourism of the Czech Republic and Vice President of the Czech Chamber of Commerce.
The sooner, the better
Although the increase of this limit has been discussed periodically over the past few years, Moore Czech Republic believes there has never been a more opportune time for this systemic change. Agreements to perform work are utilized by seniors and single mothers, groups most vulnerable to the current rapid increase in consumer prices.
"An increase in the limits would be a significant help to people working under this agreement. Simultaneously, there will be increasing demand for employment through DPP from employees who, due to rising living costs, will be forced to seek secondary employment alongside their main job," concludes Radovan Hauk, adding that the change could at least partially assist the domestic labor market.
Prices are rising, but the limit for agreements to perform work (DPP) has remained unchanged since 2012. This stagnation, despite a 38% increase in consumer prices, is disproportionately affecting vulnerable groups like single mothers and pensioners who rely on DPP for its flexibility. Experts argue that raising the 10,000 CZK limit to around 15,000 CZK is crucial. Such an adjustment would incentivize employers to create more part-time roles, helping to fill labor shortages and provide much-needed income support to individuals struggling with rising living costs. This change is seen as a timely measure to boost the flexibility of the labor market and alleviate financial pressure on specific demographics.
Czech climate protection lags behind in the European Union. But we use railways above average.
5/3/2022
Czech climate protection is lagging behind the European Union, while railway usage is above average. Data from Eurostat between 2009 and 2020 reveal that Czech households had at least 20% higher energ
Czech climate protection is lagging behind the European Union, while railway usage is above average. Data from Eurostat between 2009 and 2020 reveal that Czech households had at least 20% higher energy consumption than the EU average between 2015-2019. Furthermore, the use of renewable energy sources in the Czech Republic has consistently been below average. The country also registers a very small number of emission-free cars.
However, the Czech Republic performs well in statistics related to railway transport utilization. In 2019, railways accounted for 9.9% of all passenger transport and 26.2% of freight transport in the Czech Republic, both significantly higher than the EU averages of 8% and 17.6% respectively. Despite lagging in other climate protection areas, the increasing trend in renewable energy use, from 10.5% in 2010 to 17.3% in 2020, offers potential for improvement. The low adoption of electric vehicles is attributed to high purchase prices, underdeveloped charging infrastructure, and a lack of government financial support compared to other EU nations.
MOORE CZECH REPUBLIC COVERS ASSISTANCE FOR ASIAN COMPANIES IN THE EUROPEAN MARKET
4/27/2022
MOORE CZECH REPUBLIC SUPPORTS ASIAN COMPANIES IN THE EUROPEAN MARKET
April 27, 2022
The newly established EU-Asia Desk aims to provide assistance and advice for the business activities of Asian comp
MOORE CZECH REPUBLIC SUPPORTS ASIAN COMPANIES IN THE EUROPEAN MARKET
April 27, 2022
The newly established EU-Asia Desk aims to provide assistance and advice for the business activities of Asian companies in the European market. In 2022, the desk will support the business endeavors of dozens of European companies owned by entities from China, Japan, and South Korea.
The domestic branch of the EU-Asia Desk fosters local business interactions between European entities and Far Eastern countries. Its services range from translation to project management, focusing on minimizing risks associated with cultural differences. It offers accounting, tax, and legal advisory services, as well as auditing, marketing, and business development.
Karel Kučera, a partner at Moore Czech Republic, stated, "At the beginning of the year, Moore Czech Republic's Prague headquarters became a key point of contact for members of the Moore Global advisory network facilitating business activities for clients from Asian countries. Our company will help attract Asian capital into Europe, which will positively impact job growth and open opportunities for European companies, including Czech ones, to engage in business activities with Asia, leveraging their interesting know-how and projects."
The EU-Asia Desk boasts a strong team of native experts from Japan, China, and South Korea, the primary sources of major investments in both the Czech Republic and across Europe.
Kučera emphasized, "The expertise of native speakers, who form the core of our team, is crucial in facilitating these transactions. By eliminating language barriers and understanding the broader context of business activities, including trade differences and cultural nuances, we significantly reduce risks and enhance the efficiency of our services."
Further details on the EU-Asia Desk's activities are available at https://www.moore-eu-asia.com/.
Moore Czech Republic has launched an EU-Asia Desk to aid Asian companies operating in the European market. This new unit will support businesses with ownership from China, Japan, and South Korea, facilitating their European expansion. The desk offers a comprehensive suite of services, including translation, project management, accounting, tax, legal advice, auditing, marketing, and business development. Its core strength lies in its team of native experts from key Asian markets, enabling them to mitigate cultural and linguistic barriers, thereby reducing risks and improving service effectiveness for both Asian investors and European businesses seeking to engage with Asia. This initiative aims to attract Asian capital into Europe, fostering job growth and opening new avenues for cross-border business collaborations.
The marketing technology market exceeded $340 billion globally last year.
4/22/2022
The global marketing technology market surpassed $340 billion last year. Experts anticipate significant sector growth in 2022, with 61% of surveyed companies planning to increase their martech investm
The global marketing technology market surpassed $340 billion last year. Experts anticipate significant sector growth in 2022, with 61% of surveyed companies planning to increase their martech investments. This surge in investment and market growth is reflected in increased merger and acquisition activity. Martech encompasses tools and software for effective marketing, including communication, branding, data analytics, and social media management.
Key drivers include the shift towards data-centric marketing, amplified by the pandemic, which heightened the need to retain customers and expand market share. Marketing technologies are crucial for achieving marketing and sales strategies across all industries. A significant challenge is employee development to effectively utilize these technologies, necessitating a transformation in training towards digital, augmented reality, and online learning.
Companies recognize the inevitability of investing in smart technologies to maintain a competitive edge. This presents an opportunity for agencies to expand their services and offer comprehensive solutions. The market is also active in mergers and acquisitions, evidenced by Salesforce's acquisition of Slack and Intuit's purchase of Mailchimp. The martech sector, after rapid development, is entering a consolidation phase, with expectations of continued M&A activity and record investments from private equity and venture capital funds.
Moore Czech Republic Strengthens Accounting and Tax Advisory by Acquiring Alfin
4/5/2022
Moore Czech Republic has strengthened its accounting and tax advisory services by acquiring the company Alfin. The experts from Alfin will join the existing team at Moore Accounting CZ, expanding its
Moore Czech Republic has strengthened its accounting and tax advisory services by acquiring the company Alfin. The experts from Alfin will join the existing team at Moore Accounting CZ, expanding its regional presence in the Ústí nad Labem region. This latest acquisition aligns with Moore Czech Republic group's strategic goal of growing its accounting, payroll outsourcing, and tax advisory services, extending its reach into regional markets, and establishing itself as one of the largest accounting firms in the Czech Republic.
The acquisition of Alfin, a Czech firm specializing in accounting and tax outsourcing, further solidifies Moore Czech Republic's position in this sector. Petr Kymlička, partner at Moore Czech Republic, stated that Alfin was chosen for its expertise, experience, and customer portfolio. The integration of Alfin's 11 specialists is a significant step towards the goal of becoming a leading accounting outsourcing company in the Czech Republic. Alfin will operate under Moore Accounting CZ, a subsidiary of the Moore Czech Republic group.
This move is part of Moore Accounting CZ's regional expansion strategy, aiming to establish a presence beyond Prague and Bratislava in other large and medium-sized cities like Most. This expansion not only brings in experienced tax and accounting professionals but also provides practical insights into the digitalization of accounting processes. Alfin reported revenues of CZK 10.6 million with a profit of CZK 1.6 million in 2020. This marks Moore Accounting CZ's third acquisition in the tax and accounting field, following the purchases of Escape Consult in Brno (with a subsidiary in Bratislava) and Pagina Tax in Příbram in 2020. Alongside continued growth, the company is prioritizing technological development, with 2022 being a key year for the intensive digitalization of its accounting processes.
Up to 60% of organizations require redundant consent for personal data processing
3/31/2022
Up to 60% of organizations require redundant consent for personal data processing.
Radim Darebník
March 31, 2022
According to experts from the consulting group Moore Czech Republic, 60% of organiza
Up to 60% of organizations require redundant consent for personal data processing.
Radim Darebník
March 31, 2022
According to experts from the consulting group Moore Czech Republic, 60% of organizations request redundant consent for personal data processing, most frequently public sector institutions like schools, kindergartens, and municipalities. Sanctions can be imposed for this practice.
Despite GDPR coming into effect in 2018, many entities still do not handle personal data processing correctly. Moore Czech Republic notes that the most common errors involve requesting consent where it's not needed, affecting up to 60% of entities.
A frequent example is requiring employee consent for payroll and HR purposes, which Petr Štětka, a manager at Moore Advisory, deems unnecessary. Schools also commonly err. Štětka explains that schools often misunderstand which consents are legally required and which are unnecessarily collected, citing photographs as an example where not every image constitutes personal data. Schools also faced issues with personal data processing related to COVID testing.
Excessive consent is more common in the public sector. Štětka also highlights issues with consent for camera systems and e-shop purchases. He states that the misuse of data processing consent is most prevalent in public sector institutions, often due to a lack of knowledge.
While people usually report cases where their data is processed without consent, the Office for Personal Data Protection (ÚOOÚ) can impose fines up to 10 million CZK for such practices. The severity of the fine depends on factors like the scope of affected individuals and prior sanctions. Historically, million-crown fines have only been issued in cases of unsolicited mail.
Opening to foreign workers and adopting systemic changes will help the Czech labor market
3/11/2022
The Czech labor market needs to open to foreign workers and adopt systemic changes. Experts from Moore Czech Republic identify healthcare, IT, industry, logistics, and gastronomy as the most affected
The Czech labor market needs to open to foreign workers and adopt systemic changes. Experts from Moore Czech Republic identify healthcare, IT, industry, logistics, and gastronomy as the most affected sectors. The departure of many Ukrainians due to conscription has created immediate labor shortages, particularly in industry. The Czech labor market was already struggling before the war, with significantly more job vacancies than job seekers since spring 2018.
The article suggests that while state financial support during the pandemic was necessary, its broad and overly generous nature has had negative medium-term consequences, contributing to inflation and further paralyzing the labor market. This labor shortage is now critical in key sectors. Rising consumer prices are fueling wage demands, with Czech wages growing at one of the fastest rates in the EU. This, combined with the labor shortage, forces companies to offer unprecedented benefits and incentives, pushing up personnel costs.
To address these issues, systemic changes are crucial. The Czech Republic should simplify the employment of foreign workers, making it easier for them to integrate into the workforce. This includes accelerated recognition of qualifications and work permits. Changes to labor laws, such as shortening notice periods, are also recommended to make the labor market more flexible for both hiring and dismissals. The influx of Ukrainian refugees, with a significant female demographic, presents an opportunity for sectors like light manufacturing, agriculture, and services.
In the Czech Republic, the number of businesses using the cloud doubled last year. This was the highest increase in the EU.
3/3/2022
The number of businesses in the Czech Republic utilizing cloud services doubled last year, marking the highest growth rate within the EU. By the end of 2021, 44% of Czech companies used cloud services
The number of businesses in the Czech Republic utilizing cloud services doubled last year, marking the highest growth rate within the EU. By the end of 2021, 44% of Czech companies used cloud services, surpassing the European average. This surge is attributed to the pandemic, which accelerated remote work adoption, alongside financial savings and increased trust in IT. Companies are moving away from building their own IT infrastructure, benefiting from the flexibility and cost reductions offered by the cloud, particularly for email services.
However, cybersecurity experts warn that cloud and hybrid solutions, often implemented for home office work, increase the number of vulnerable access points, thus raising the risk of cyberattacks. The increased reliance on remote access from less secure home environments, coupled with potential security gaps in cloud providers' infrastructure, creates more opportunities for identity theft or data breaches. Despite these concerns, companies that prioritize cybersecurity and preventive measures can deflect up to 90% of potential attacks, highlighting the importance of robust security strategies in the cloud-first era.
Standard ensuring the functioning of targeted online advertising declared illegal in Belgium. Impacts may also occur in the Czech Republic
2/8/2022
A key technical standard for targeted online advertising, the IAB Transparency & Consent Framework (TCF), has been declared illegal in Belgium. This ruling, issued by the Belgian Data Protection Autho
A key technical standard for targeted online advertising, the IAB Transparency & Consent Framework (TCF), has been declared illegal in Belgium. This ruling, issued by the Belgian Data Protection Authority, states that the TCF violates multiple GDPR obligations concerning personal data protection. Experts from Moore Legal CZ suggest the implications could be pan-European, as the TCF is used by an estimated 80% of the European internet.
The decision's significance extends beyond Belgium due to the "one-stop-shop" mechanism, which ensures consistent GDPR application across the EU and involved cooperation with other supervisory authorities, including the Czech Office for Personal Data Protection. The TCF is widely adopted in the Czech Republic, notably by major media operators. This development follows other recent regulatory actions impacting the online advertising landscape, such as the Czech "cookie amendment" and rulings on international data transfers. The future of detailed data-driven targeted advertising remains uncertain, although IAB Europe has the right to appeal the Belgian decision in court.
Cybersecurity Survey of Companies: One in Five Companies Faced an Attack. Only a Quarter Focus on Systematic Prevention
1/6/2022
**Cybersecurity Survey of Companies: One in Five Faced an Attack. Only a Quarter Focus on Systematic Prevention**
According to a survey, one in five companies faced a cyberattack, but only a quarter
**Cybersecurity Survey of Companies: One in Five Faced an Attack. Only a Quarter Focus on Systematic Prevention**
According to a survey, one in five companies faced a cyberattack, but only a quarter proactively address cybersecurity through audits and testing. Despite nearly 60% of companies being completely dependent on computers and internet access, and another third partially dependent, only half consider their security sufficient. Two-thirds recognize the need for increased cybersecurity efforts, but many address issues reactively rather than proactively.
Martin Listopad from Moore Czech Republic emphasizes the growing risk of attacks that can compromise information and paralyze operations. He stresses the importance of securing access to electronic data and protecting against unauthorized manipulation. The survey found that only a third of companies that experienced a cyberattack in the past three years detected and eliminated it early.
Although half of the companies address cybersecurity at the management level and acknowledge that stronger protection requires higher investment, proactive investment is generally lower than the potential costs of dealing with an attack. Experts warn that despite widespread awareness, companies often have a lukewarm approach to security, with only a quarter using audits and testing for prevention. Proactive cybersecurity measures can prevent up to 90% of potential attacks. Audits help analyze risks, identify threats, determine vulnerabilities, and implement measures to manage situations that could paralyze business operations. Audits also ensure compliance with legal regulations to avoid penalties related to contractual relationships and data protection.
The number of cyberattacks has almost doubled. People working from home are the most vulnerable.
12/21/2021
**Translation:**
The number of cyberattacks has almost doubled. People working from home are the most vulnerable.
According to cybersecurity experts from Doxologic, attackers are exploiting the COVI
**Translation:**
The number of cyberattacks has almost doubled. People working from home are the most vulnerable.
According to cybersecurity experts from Doxologic, attackers are exploiting the COVID-19 pandemic situation, which has moved a large portion of employees to work from home, making their devices more easily vulnerable.
Doxologic, part of the Moore Czech Republic group, reports that not only public institutions but also private companies are increasingly targeted by cyberattacks. A weak point is the inadequate security of technology when working from home. "Endpoints such as laptops are the gateway to companies and are also the most frequent target of attacks. Through them, attackers can access entire corporate systems," warns Doxologic Director Martin Listopad.
"Devices directly in the company are usually protected by advanced technologies for the entire organization. Users are hidden behind imaginary ramparts. Unfortunately, many companies have failed to react and protect users who are not currently behind this imaginary rampart," describes Martin Listopad.
The basis of security is prevention.
It is important to protect oneself regularly and purposefully and to educate employees.
"The security policies of organizations should include regular security audits, updates of application versions, regular changes of strong access passwords, and the building of a quality security infrastructure, protecting organizations both against attacks on themselves and through their employees working in the field or from home," reminds Martin Listopad.
A new trend is so-called triple extortion.
A common type of attack is ransomware attacks, in which attackers encrypt the data of the affected subject and demand a ransom for decryption. This is the so-called double extortion technique, which was most evident in the case of the attack on Colonial Pipeline.
"A novelty and an increasingly common phenomenon in 2021 is the technique of triple extortion," states Martin Listopad, adding: "In addition to stealing sensitive data, attackers also target the customers of organizations or their business partners, from whom they also demand a ransom."
**Summary:**
Cyberattacks have surged, particularly targeting employees working from home due to vulnerabilities in their devices and inadequate security measures implemented by companies. Private firms and public institutions alike are facing increased threats, with laptops serving as frequent entry points for attackers. Experts emphasize the importance of prevention through regular security audits, application updates, strong passwords, and robust security infrastructure to protect organizations and remote workers. A concerning trend is the rise of triple extortion, where attackers not only encrypt and steal data but also target customers and business partners, demanding ransoms from all involved. Companies must prioritize employee education and implement comprehensive security policies to mitigate these evolving cyber threats.
Czech Republic will not approve whistleblower legislation in time. Nevertheless, some entities must be prepared.
12/4/2021
The Czech Republic will not meet the deadline to approve legislation protecting whistleblowers, who report illegal activities within organizations. Experts say stronger protection could encourage more
The Czech Republic will not meet the deadline to approve legislation protecting whistleblowers, who report illegal activities within organizations. Experts say stronger protection could encourage more reporting, shielding individuals from retaliation. Despite the delay, some entities, especially those acting as the "state" like state institutions, local governments, and entities providing public services, may face immediate obligations from the EU Whistleblowing Directive starting December 17, 2021.
The upcoming legislation will impose duties on employers with at least 25 employees, municipalities with over 5,000 inhabitants, public procurers, and other selected entities, including implementing internal reporting systems and designating individuals to investigate reports. The aim is to create a safe environment, encouraging internal reporting over public disclosure. Retaliation against whistleblowers, like job termination or discrimination, is a concern. Some organizations are proactively preparing for the new rules.
Failure to comply with the new requirements can result in fines up to one million Czech crowns or 5% of annual turnover. The designated person in charge can be fined up to 100,000 crowns. Furthermore, companies risk reputational damage and potential disclosure of trade secrets if reports are not addressed properly. Whistleblowers are mainly employees reporting wrongdoing witnessed at work, but the law extends to self-employed individuals, members of legal entities' bodies, trainees, suppliers, and job applicants.
A number of organizations still haven't properly addressed GDPR. The most common mistake is unnecessarily requiring consent.
11/30/2021
**Translation:**
Many organizations still haven't properly addressed GDPR compliance. The most common mistake is requiring unnecessary consent.
Despite the difficulty in quantifying them, experts at
**Translation:**
Many organizations still haven't properly addressed GDPR compliance. The most common mistake is requiring unnecessary consent.
Despite the difficulty in quantifying them, experts at Moore Czech Republic, which manages personal data for nearly 300 organizations, warn that many face sanctions. The GDPR regulation has been accompanied by many concerns from the outset, causing unnecessary errors that increase the administrative burden.
Three years after its effective date, many uncertainties still surround GDPR. According to experts at Moore Czech Republic, data processing affects countless fields, and many entities still frequently make mistakes in complying with the legislation. Common errors include processing excessive data, unauthorized disclosure of personal data, and sending unsolicited commercial communications.
According to Petr Štětka, Manager at Moore Advisory, intentional breaches of personal data security are rare. However, even unintentional violations like data loss or accidental destruction can lead to sanctions, even if all other processes are correctly set up. By April 30, 2021, the Office for Personal Data Protection (ÚOOÚ) received 1065 notifications of serious breaches in personal data processing obligations. However, only 12 fines were issued, totaling over half a million Czech crowns, with the largest fine being 180,000 crowns.
Besides unintentional oversights, Moore Czech Republic points to gross violations like unmarked camera systems, insufficient information about personal data processing, and excessive consent requests. Many organizations require consent where it's unnecessary, adding administrative burden for themselves and clients. A typical example is human resources and consent for processing personal data for payroll and personnel purposes, where processing is already mandated by law.
Website and e-shop operators have made the most progress in personal data protection in recent years. However, many still aren't oriented in the current legislation, leading to errors. For example, a COVID-19 testing site used an outdated law in its privacy form, signaling a lack of proper GDPR implementation. Such shortcomings can be easily rectified by collaborating with GDPR experts.
Experts attribute the current situation partly to a lack of attention and communication from the state. GDPR was approved in April 2016 and came into effect in May 2018, giving ample time for awareness. The inadequate information campaign led to unnecessary panic among data processors and the public. The delayed approval of the Czech adaptation law nearly a year after GDPR's effective date added to the uncertainty. This uncertainty and fear-mongering led to an exaggerated perception that even simple actions like introductions would require consent.
**Summary:**
Many organizations still struggle with GDPR compliance three years after its implementation, facing potential sanctions. Common errors include excessive data processing, unauthorized disclosure, unsolicited communication, and requiring unnecessary consent, often stemming from uncertainty and misinterpretation of the regulations. The Office for Personal Data Protection has received numerous breach notifications, but issued relatively few fines. While website and e-shop operators have made progress, many businesses still rely on outdated legal frameworks. Experts blame inadequate state communication, delayed adaptation law, and fear-mongering for the widespread confusion and panic. Organizations can easily improve GDPR compliance through cooperation with GDPR experts. Unnecessary bureaucracy has been the result of the misconception of GDPR regulations, causing a lot of confusion.
Government Investment in Research and Development Significantly Increased, Yet the Czech Republic Lags Behind the EU Average
11/15/2021
Government investment in research and development (R&D) has significantly increased in the Czech Republic, but the country still lags behind the EU average. In 2020, the Czech Republic invested 128 eu
Government investment in research and development (R&D) has significantly increased in the Czech Republic, but the country still lags behind the EU average. In 2020, the Czech Republic invested 128 euros per capita, falling short of the EU average. Experts at Moore Czech Republic emphasize the importance of maintaining this funding trend to transform the Czech economy into a high-value-added, advanced economy.
In 2020, total government R&D spending in the EU surpassed 100 million euros, a 22% increase compared to 2010. Czech government R&D spending has increased by 42.7 euros per capita in the last decade; despite this 50% growth, the Czech Republic ranks 15th among EU member states. Experts highlight that R&D investment is critical for the Czech Republic's economic transformation, particularly during the post-pandemic recovery. Government R&D investments also stimulate private investment.
Private R&D investment in the Czech Republic is also below average. Almost 60% of companies reduced their science and research budgets. The absence of incentives for businesses to invest is a major factor. Experts suggest adjusting the National Recovery Plan to support private sector investment and collaboration with universities, potentially through tax breaks, project funding, and other forms of cooperation. The Czech Republic is the leader in R&D investment among the Visegrad Four countries, but still behind compared to Scandinavian countries, Austria, and Germany.
A complete cancellation of EET doesn't make sense. Supporting at least voluntary registration is an option.
11/1/2021
**Translation:**
Completely abolishing the Electronic Records of Sales (EET) doesn't make sense. Supporting at least voluntary registration is an option.
According to experts from Moore Czech Republ
**Translation:**
Completely abolishing the Electronic Records of Sales (EET) doesn't make sense. Supporting at least voluntary registration is an option.
According to experts from Moore Czech Republic, the state would voluntarily cut off a tool for easy allocation of subsidies based on recorded revenue and lose the ability to monitor the economy in various business sectors and regions. Given the significant investments made by businesses, the established public administration apparatus, progress in digitization, and other benefits of EET, it should be preserved, at least on a voluntary basis through a minor amendment to the law.
Political infighting has placed the forming government coalition in a difficult position. Abolishing EET would mean the future government is consciously giving up a tool that could help restart tax collection from small and medium-sized businesses and could be used as a platform for issuing electronic receipts.
Introducing EET in the 3rd and 4th waves would help modernize the POS systems of this group of entrepreneurs, including adding payment card acceptance. The support of POS system modernization and non-cash payment terminals is currently an initiative of the Ministry of Industry and Trade and the Czech Chamber of Commerce.
If the new government doesn't want to force entrepreneurs to use EET, the system can be made voluntary. Honest entrepreneurs want to pay taxes and don't want to be forced into the grey economy by unfair competition. The state could reward them with easier access to incentives and subsidies or better conditions for investments in digitalization.
Re-starting revenue recording in a voluntary mode, coupled with a set of advantages and incentives for entrepreneurs, can be a positive signal, which the new government could declare both the effort to manage and improve the economy, and to solve the country's debt. Voluntary EET for the 3rd and 4th wave can be introduced almost immediately with a minor amendment to the EET law. The law is already drafted, and its implementation depends on the will of the future political representatives.
EET was introduced in the Czech Republic at the end of 2016 with the intention of better tax collection by registering cash payments, eliminating the grey economy and leveling the competitive playing field.
**Summary:**
Experts argue against completely abolishing the Electronic Records of Sales (EET), suggesting a voluntary system. Abolishing EET would hinder tax collection, economic monitoring, and the modernization of payment systems, especially for small and medium-sized businesses. A voluntary EET (DEET) would allow honest entrepreneurs to comply while receiving benefits like easier access to subsidies and digitalization investments. This approach signals a positive change, promoting economic health and rewarding compliance. A simple amendment to the existing law could implement voluntary EET quickly, offering a less repressive and more supportive environment for businesses. This also furthers the digitalization of the economy and streamlines business-government communication. Introduced in 2016, EET aimed to improve tax collection and reduce the grey economy.
9 out of 10 ICT professionals in the Czech Republic are men. Attracting more women makes sense.
10/25/2021
According to a MoorenTechnology study, while the Czech Republic has seen the largest increase in female ICT professionals in the EU over the past decade, it still ranks among the countries with the lo
According to a MoorenTechnology study, while the Czech Republic has seen the largest increase in female ICT professionals in the EU over the past decade, it still ranks among the countries with the lowest representation of women in the field, at 11%. Across the EU, men dominate the ICT sector, accounting for 83% of the workforce, a 3% increase since 2010. Despite various initiatives promoting women in ICT in the Czech Republic, the gender imbalance persists. Between 2010 and 2020, the percentage of female ICT students in the Czech Republic rose from 11.5% to 17%. Experts emphasize that increased female participation is crucial to address labor shortages in the well-compensated ICT sector and could help reduce the gender pay gap. Although the Czech Republic shows improvement, it still lags behind other EU nations, with Denmark leading with a 33% female representation in ICT.
Call-offs as a boogeyman for automotive industry subcontractors. Existential problems may arise in as little as a quarter of a year
10/14/2021
Call-offs, reflecting current part needs, are haunting automotive subcontractors, potentially leading to existential crises within three months. Industrial production in the Czech Republic decreased i
Call-offs, reflecting current part needs, are haunting automotive subcontractors, potentially leading to existential crises within three months. Industrial production in the Czech Republic decreased in August, with the automotive sector falling by over 28%. Moore Czech Republic forecasts this may last 3-4 months before some subcontractors face significant problems, with normalization expected no sooner than late in the first half of next year.
Chip supply lead times have lengthened to 21 weeks, the longest since 2017. Experts estimate the chip crisis will cost automakers over 4 trillion Czech crowns in lost revenue. Order cancellations are impacting the entire supply chain which operates on a "just in time" principle. Subcontractors heavily reliant on the automotive sector face the most severe issues, prompting them to diversify their customer base. Shifting to other sectors is challenging financially, technically, and logistically. Some manufacturers are temporarily using employer-side obstacles to reduce costs, though this must be done carefully to avoid employee attrition in a competitive labor market. Possible solutions include delivering cars with temporarily unavailable non-essential features.
Erik Ďurkáň Becomes New Partner at Consulting Group Moore Czech Republic
10/14/2021
Erik Ďurkáň Becomes New Partner at Moore Czech Republic Advisory Group
Radim Darebník
October 14, 2021
Erik Ďurkáň has become a partner at the Moore Czech Republic advisory group, a member of Moore
Erik Ďurkáň Becomes New Partner at Moore Czech Republic Advisory Group
Radim Darebník
October 14, 2021
Erik Ďurkáň has become a partner at the Moore Czech Republic advisory group, a member of Moore Global, one of the largest international networks of auditing and advisory firms, as of September 2021. In his role as partner, Ďurkáň will focus on the strategic direction of the group in providing audit and related services, with the aim of establishing Moore Audit CZ as one of the top ten largest audit firms in the Czech market.
Ďurkáň brings over a decade of experience in providing audit services to large Czech and foreign companies, as well as the public sector. Since 2010, he held managerial positions at the audit firm Mazars. He is a graduate of the University of Economics, Prague (VŠE), holds ACCA certification, and is a member of the Chamber of Auditors of the Czech Republic and the Institute of Certification of the Association of Accountants. His academic background includes a degree from VŠE, Faculty of Finance and Accounting.
Erik Ďurkáň, a graduate of the University of Economics, Prague (VŠE) with a degree from the Faculty of Finance and Accounting, holds ACCA certification. He is also a member of the Chamber of Auditors of the Czech Republic and the Institute of Certification of the Association of Accountants.
Erik Ďurkáň has been appointed as a new partner at Moore Czech Republic advisory group, effective September 2021. He will oversee the audit services division, aiming to position Moore Audit CZ among the top ten audit firms in the Czech Republic. With over ten years of experience serving major domestic and international companies, as well as the public sector, Ďurkáň previously held management roles at Mazars. He is a graduate of the University of Economics, Prague, holds ACCA certification, and is a member of the Chamber of Auditors of the Czech Republic and the Institute of Certification of the Association of Accountants. His expertise will drive the strategic growth of the firm's audit services.
Exclusive Survey: Two-Thirds of Companies and Entrepreneurs Do Not Expect State Restrictions for the Rest of the Year
9/16/2021
Exclusive Survey: Two-Thirds of Businesses and Entrepreneurs Do Not Expect Further State Restrictions for the Remainder of the Year
A survey conducted from September 2nd to 7th among 315 business rep
Exclusive Survey: Two-Thirds of Businesses and Entrepreneurs Do Not Expect Further State Restrictions for the Remainder of the Year
A survey conducted from September 2nd to 7th among 315 business representatives reveals that 66% of companies are not preparing for new anti-epidemic measures for the rest of the year unless mandated or recommended by the government. This optimism stems from the summer's receding epidemic and confidence in vaccination, with some firms incentivizing employees to get vaccinated.
Companies have adapted to existing restrictions and believe they won't be tightened. The Czech Chamber of Commerce supports this outlook, stating that widespread or sectoral restrictions are unlikely given the availability of vaccination. They advocate for timely issue resolution without significant service disruption.
While 66% of companies are not proactively implementing additional measures, a third are preparing them. The most common voluntary precautions include employee testing and enabling remote work. Notably, nearly half of companies anticipating potential government restrictions are not making special preparations. The survey included businesses of all sizes and sectors, from services to agriculture.
Below-average GDP growth in the second quarter. The Czech economy is recovering more slowly than the vast majority of EU countries.
8/23/2021
Subpar GDP Growth in the Second Quarter. Czech Economy Recovers Slower Than Most EU Countries.
Radim Darebník
August 23, 2021
This is not an isolated fluctuation; the Czech Republic has recorded wo
Subpar GDP Growth in the Second Quarter. Czech Economy Recovers Slower Than Most EU Countries.
Radim Darebník
August 23, 2021
This is not an isolated fluctuation; the Czech Republic has recorded worse growth or a decline compared to the EU average for four consecutive quarters. This is according to an analysis of current Eurostat data conducted by the consulting firm Moore Czech Republic.
Not only the European Union as a whole but also the Czech Republic returned to economic growth in the second quarter.
"An annual quarterly growth of 7.8% is significant at first glance, but it's important to realize that last year's second quarter base was significantly impacted by the beginning of the coronavirus pandemic. However, this was the case in practically all European countries, of which the Czech Republic showed the second-lowest pace of economic recovery in the last three months," points out Petr Kymlička, partner at Moore Czech Republic.
The European Union recorded an average year-on-year growth of 13.2% during the same period, with ten countries even showing double-digit growth.
"The Czech Republic has shown worse economic development than the EU average since the third quarter of 2020. In the second quarter, there was the aforementioned slower growth, and in the previous three quarters, a more significant year-on-year quarterly decline," notes Petr Kymlička, adding that the Eurostat data is not yet complete, as figures from 7 EU member states are missing. The Czech economy also showed a lower growth rate than the EU average (1.9%) in a quarter-on-quarter comparison, growing by only 0.6%, making it the fourth slowest.
According to the Moore Czech Republic analysis, the cause of this development can be seen primarily in the differentiated impacts of the coronavirus crisis and the methods of its resolution. The significant dependence of the domestic economy on the automotive industry, which is affected by a fundamental disruption of supply chains, combined with rising input prices and a long-term labor shortage, is slowing down its growth pace.
The Czech Republic's economic recovery in the second quarter of 2021, while showing a 7.8% year-on-year growth, lagged significantly behind the EU average of 13.2%. This underperformance has been consistent for four consecutive quarters, with the Czech Republic exhibiting the second-lowest recovery rate among European nations. The analysis highlights that this slower growth is attributable to the uneven impacts of the pandemic and the country's economic structure. A key factor is the Czech economy's heavy reliance on the automotive sector, which is currently struggling with disrupted supply chains. Furthermore, rising input costs and a persistent shortage of labor are hindering its ability to rebound effectively compared to its EU peers. The Eurostat data, while incomplete for some member states, supports this trend, indicating a persistent lag in the Czech Republic's economic performance.
Czech Industrial Output Above EU Average in June. Shortage of Workers and Inputs Hinders Better Results.
8/15/2021
Czech industry's performance in June surpassed the EU average, yet optimal output is hindered by labor and input shortages.
In a year-on-year comparison with June 2020, Czech industrial manufacturers
Czech industry's performance in June surpassed the EU average, yet optimal output is hindered by labor and input shortages.
In a year-on-year comparison with June 2020, Czech industrial manufacturers achieved above-average production growth within the EU context. However, experts from Moore Czech Republic believe that Czech industry is not yet operating at its full potential, primarily due to a lack of skilled labor and essential materials.
According to the latest Eurostat data, industrial production in the Czech Republic rose by 1% month-on-month in June 2021. Malta recorded the most significant growth (+5.2%), followed by Slovakia (+2.9%). In contrast, the average for EU countries saw a slight decline of 0.2%, with nations like Denmark, Ireland, Luxembourg, Portugal, and Finland experiencing drops of 2% or more compared to May.
A gradual return to normal performance is observed, with EU member states showing a considerable year-on-year growth averaging 10.5%. The Czech Republic outperformed this average with an 11.4% growth. Petr Kymlička of Moore Czech Republic commented that European countries are slowly returning to pre-pandemic levels of industrial production, including Czech companies. Despite supply chain disruptions affecting certain sectors, a persistent Czech characteristic hampering nearly all manufacturing companies is the shortage of workers.
Kymlička added that despite these obstacles, domestic industry achieved double-digit year-on-year growth in June, a feat not all EU states managed, with 11 countries, particularly Nordic nations, reporting only single-digit percentage growth.
Czech Debt Growth in Q1 Was Second Highest in the EU. Only Cyprus Deepened Indebtedness More.
7/28/2021
The Czech Republic experienced the second-highest growth in public debt as a percentage of GDP among EU member states in the first quarter of 2021, increasing from 37.8% to 44.1%. This surge, second o
The Czech Republic experienced the second-highest growth in public debt as a percentage of GDP among EU member states in the first quarter of 2021, increasing from 37.8% to 44.1%. This surge, second only to Cyprus, was primarily attributed to the uncontrolled COVID-19 pandemic and the associated increased expenditures on combating it, along with restrictive measures that hampered economic activity. Petr Kymlička of Moore Czech Republic highlighted that the pandemic's peak in the Czech Republic was a major driver of this over-average debt increase.
While many EU countries saw their debt rise, Slovakia managed to maintain its debt level at 60.3% of GDP. Kymlička also pointed out that the decline in state revenues, partly due to the abolition of the super-gross wage, and upcoming elections, which typically hinder debt reduction efforts, contributed to the Czech Republic's debt growth. Despite this quarterly increase, the Czech Republic remains among the countries with the lowest overall debt. However, without systemic budget consolidation, the country is likely to climb higher in the rankings of most indebted nations, as evidenced by Lithuania and Denmark reducing their debt-to-GDP ratios during the same period.
The Czech Republic's public debt rose significantly in the first quarter of 2021, reaching 44.1% of GDP, marking the second-highest quarterly increase in the EU after Cyprus. This surge was largely driven by increased spending to combat the COVID-19 pandemic and economic restrictions. Petr Kymlička of Moore Czech Republic cited the pandemic's peak in the Czech Republic as the primary reason for this over-average debt growth. He also noted that a decline in state revenues, linked to the abolition of the super-gross wage, and the upcoming elections contribute to the debt situation. While Slovakia maintained its debt levels, the Czech Republic's substantial increase means it could face higher rankings in indebted countries if budget consolidation is not prioritized. Despite this, the Czech Republic still ranks among the EU countries with the lowest overall debt.
Mortgage Price Growth Continues. Czechia Nears Top 10 EU Countries with Highest Average Rate
7/27/2021
Mortgage prices continue to rise. Czechia is approaching the top ten EU countries with the highest average rates.
Radim Darebník July 27, 2021
Czechia is likely to soon rank among the ten EU countri
Mortgage prices continue to rise. Czechia is approaching the top ten EU countries with the highest average rates.
Radim Darebník July 27, 2021
Czechia is likely to soon rank among the ten EU countries with the most expensive mortgages. Latvia, Hungary, and Romania lead with rates above 4%. Conversely, eurozone countries primarily have rates more than twice as low, often around 1%. Finns borrow for housing most cheaply with an interest rate of 0.8%.
While mortgage rates hit historic lows last year, this year is marked by their increase. Czech mortgage interest rates, averaging 2.42%, are among the more expensive within the European Union.
"Considering the Czech National Bank's further increase in its repo rate, it can be expected that this growth will continue," states Marcela Hrdá, partner at Moore Czech Republic. Currently, the Czech Republic ranks 11th among 27 EU states in terms of average mortgage rates, just 0.09 percentage points behind the Netherlands.
"Mortgage prices at Dutch banks have been falling in recent months, so Czechia will very likely join the ten countries with the highest rates," adds Marcela Hrdá.
Slovakia has one of the lowest rates. According to data from theglobaleconomy.com, Latvia (5%), Hungary (4.4%), and Romania (4.39%) have the most expensive mortgage interest rates. In contrast, Finland (0.80%), Portugal (1.00%), and neighboring Slovakia (1.09%) have the lowest mortgage rates. All of Czechia's neighboring countries also have lower average rates. "The comparison clearly shows that, with few exceptions, eurozone countries have low rates. Competition in the mortgage market is also an important factor," concludes Marcela Hrdá, noting that due to rising mortgage prices, homeownership is becoming even less affordable for Czechs, despite its significant popularity.
Summary: Czechia's average mortgage interest rates are rising, placing it close to the top ten most expensive in the EU. Currently at 2.42%, this figure is expected to climb further due to anticipated increases in the Czech National Bank's repo rate. This trend contrasts with the historically low rates seen last year and positions Czechia behind only nine other EU nations, with the Netherlands being just slightly ahead. Countries like Latvia, Hungary, and Romania have significantly higher rates, while eurozone nations, particularly Finland, Portugal, and Slovakia, offer substantially lower rates. This increase in mortgage costs is making homeownership, a highly valued aspiration in Czechia, increasingly out of reach for its citizens.
Antivirus Termination Did Not Lead to Unemployment. Programs Helped Retain 100 Thousand Jobs
7/14/2021
The end of the Antivirus program did not lead to increased unemployment; instead, it helped preserve around 100,000 jobs. Experts from Moore Czech Republic found that the termination of two phases of
The end of the Antivirus program did not lead to increased unemployment; instead, it helped preserve around 100,000 jobs. Experts from Moore Czech Republic found that the termination of two phases of the Antivirus program in late May had minimal impact on unemployment statistics. Despite pessimistic forecasts of layoffs and rising unemployment following the discontinuation of government subsidies for closed businesses and reduced production, these fears did not materialize.
Radovan Hauk, a partner at Moore Czech Republic, stated that the Antivirus program successfully maintained low unemployment at the cost of a significant increase in public debt. While some companies did conduct layoffs, the overall impact on national unemployment was negligible. Calculations by Moore Czech Republic indicated that without these programs, unemployment would have been 1.2 percentage points higher at the beginning of the year, exceeding 5%. The programs supported approximately 100,000 employees, positively influencing household consumption, a key component of GDP. This suggests that companies that utilized the Antivirus program have seen a recovery in orders and sufficient employment opportunities for their staff. Furthermore, many previously laid-off workers have found new jobs.
Instead of rising unemployment, the Czech economy now faces a labor shortage, particularly in sectors like industry, IT, and the gastronomy sector, where workers are reluctant to return due to uncertain futures. This shortage persists across various segments, despite a significant number of job seekers registered with the labor office. A contributing factor is the low willingness of individuals to seek employment in different fields. The introduction of modular retraining mechanisms aims to address this by recognizing existing skills and providing targeted training, enabling a more efficient transition to new roles.
The Czech Republic's debt did not increase more significantly in 2020 than in other Visegrad Four countries.
7/1/2021
The Czech Republic's public debt did not increase more significantly than in other Visegrad Group countries in 2020. While the Czech Republic had the lowest overall public debt to GDP ratio (38.1%) wi
The Czech Republic's public debt did not increase more significantly than in other Visegrad Group countries in 2020. While the Czech Republic had the lowest overall public debt to GDP ratio (38.1%) within the Visegrad Group, its year-on-year change was the second largest. The increase in debt across all Visegrad countries was primarily attributed to COVID-19 restrictions and government compensation spending, which helped maintain employment in the Czech Republic.
Compared to the EU average, the Czech Republic's relative debt change (19.8%) was higher, but its absolute change in debt per capita was less than half of the EU average. For 2021, the Czech Republic's debt is projected to rise to 44.3% of GDP, while other Visegrad countries are expected to see a slight decrease due to slower debt growth relative to GDP growth. Estonia saw the largest relative increase in public debt in 2020, doubling its debt. The Czech Republic's public debt as a percentage of GDP was 38.1% in 2020, an increase of 7.8 percentage points from 2019.
Comparison of Visegrád Group Fiscal Measures: Per Capita, the Czech Republic Spent the Second Most Fighting COVID-19
6/17/2021
Comparison of fiscal measures of the Visegrad Four countries: The Czech Republic spent the second most per capita in the fight against Covid-19.
A significant portion of the aid flowed into the econo
Comparison of fiscal measures of the Visegrad Four countries: The Czech Republic spent the second most per capita in the fight against Covid-19.
A significant portion of the aid flowed into the economy as liquidity support in the form of guarantees and warranties. In contrast, within the scope of exceeding measures, the Czech Republic released only 5.4% of GDP, with only Slovakia spending less at 4.4% of GDP. This is according to a comparative analysis by the consulting company Moore Czech Republic, based on International Monetary Fund (IMF) data.
Per capita, Poland (CZK 25,577) and Slovakia (CZK 20,062) spent less than the Czech Republic in the fight against COVID-19. Globally, the United States spent the most at approximately CZK 413,000 per capita, while within the European Union, Austria spent the most at CZK 144,000 per capita. The Czech Republic was significantly more active than other Visegrad Four countries in utilizing instruments like guarantees and warranties, channeling 15.4% of GDP into the economy this way, compared to around 4% in Poland, Hungary, and Slovakia. Direct economic support across all V4 countries primarily focused on wage compensation, sick pay, rent support, business income compensation, and tax deferrals. Poland and Hungary provided the highest support to non-healthcare sectors (7.4% and 6.4% of GDP respectively), while the Czech Republic and Slovakia provided the least (4.2% of GDP). Hungary provided the highest healthcare support per capita (CZK 9,017, or 2.8% of GDP), with the Czech Republic providing CZK 5,628 (1.2% of GDP). Public spending stimulated economic growth, with Hungary seeing the highest growth (5.0%) and the Czech Republic the lowest (3.4%). Slovakia and Poland are expected to recover to their pre-Covid economic performance this year, while the Czech Republic is projected to do so in 2022 after a 4.6% GDP decline in 2020.
Data Mailboxes Will Now Be Received by Additional Legal Entities and Sole Proprietors
6/10/2021
More Legal Entities and Self-Employed Individuals Will Receive Data Boxes
A significant new development is the expansion of the scope of individuals who will automatically be provided with a data box
More Legal Entities and Self-Employed Individuals Will Receive Data Boxes
A significant new development is the expansion of the scope of individuals who will automatically be provided with a data box, without needing to apply. Experts from Moore Legal CZ anticipate that this automatic provisioning will substantially impact not only how authorities deliver documents but may also impose an obligation to file submissions with authorities via the data box.
Effective January 1, 2023, data boxes will be automatically established for: * All legal entities registered in the Register of Persons, encompassing not just those in the Commercial Register but also those in the Register of Associations, Foundations, Institutes, Unit Owners' Associations, and Public Benefit Companies. * All self-employed individuals, lawyers, statutory auditors, tax advisors, insolvency administrators, experts, court interpreters, and court translators. Previously, self-employed individuals only received data boxes upon request; now, the Ministry of the Interior will issue them automatically. * All legally competent individuals registered in the Basic Population Register who use a means of electronic identification from a qualified electronic identification system. This includes non-entrepreneurial individuals actively using qualified electronic identification methods, such as a citizen card with an activated chip, NIA ID, or bank identity. These individuals can request to deactivate their data box.
A crucial aspect will be thorough public awareness to ensure new data box holders are informed about document deliveries, such as administrative decisions, to avoid missing deadlines.
Another key legislative change unifies the delivery moment for private and public law documents. Delivery will occur when the authorized person logs into their data box. If the person does not log in regularly, a deemed delivery occurs 10 days after the document is placed in the data box. This aims to streamline document delivery, eliminating the need to differentiate between private and public law documents, which is considered a positive step.
Summary: Starting January 1, 2023, more Czech legal entities and self-employed individuals will automatically receive a data box, eliminating the need for applications. This expansion includes various types of legal entities beyond those in the Commercial Register, as well as professions like lawyers, auditors, and tax advisors. Self-employed individuals will also receive them automatically. Furthermore, legally competent individuals using qualified electronic identification methods will be provided with a data box, though they can opt out. A significant change is the unification of document delivery for both private and public law documents; delivery is confirmed upon login to the data box, with a 10-day deeming period for non-frequent users. The goal is to prevent delivery obstruction and ensure timely processing of official communications.
Moore Czech Republic Strengthens Cybersecurity Through Acquisition of Menzo Security
6/3/2021
Moore Czech Republic strengthens its cybersecurity capabilities with the acquisition of Menzo Security. The Menzo Security division, established in December 2016, became part of DoxoLogic, with Moore
Moore Czech Republic strengthens its cybersecurity capabilities with the acquisition of Menzo Security. The Menzo Security division, established in December 2016, became part of DoxoLogic, with Moore Czech Republic holding a 60% stake. Its primary mission is to advise clients on data and information system protection measures and to provide proactive, cost-effective monitoring of cyberattacks.
Miloslav Rut, Director of Moore Technology CZ, highlighted Menzo Security's quality services and ability to implement advanced technologies against cyber threats as key factors for their investment. Menzo Security has successfully deployed leading security technologies from Check Point and Trend Micro, assessing and improving security for over 250 clients, ranging from small businesses to large banking and state organizations.
A significant achievement for Menzo is the development and operation of its proprietary Security Insight product, a security monitoring service that detects attacks early to prevent substantial damage. Martin Listopad, Director of DoxoLogic, mentioned that Security Insight has undergone significant improvements and will soon be unveiled under the Moore brand, offering enhanced security for organizations with extensive systems and on-premise infrastructure needs.
This acquisition reinforces Moore Czech Republic's comprehensive service offering and aligns with Moore Technology CZ's development strategy, particularly in light of the planned entry of a strategic investor into its subsidiary Servodata. Rut emphasized that Moore is increasingly covering crucial areas for its clients, including cybersecurity, robotic data processing, business process digitalization, and the utilization of artificial intelligence, all identified as dominant areas in future technological development.
MOORE CZECH REPUBLIC GROUP STRENGTHENS IN AUDIT, ACQUIRES ADUKO
5/11/2021
MOORE CZECH REPUBLIC GROUP STRENGTHENS IN AUDIT AREA, ACQUIRES ADUKO
Radim Darebník
May 11, 2021
Through the acquisition of another Czech firm, the Moore Czech Republic group is strengthening its p
MOORE CZECH REPUBLIC GROUP STRENGTHENS IN AUDIT AREA, ACQUIRES ADUKO
Radim Darebník
May 11, 2021
Through the acquisition of another Czech firm, the Moore Czech Republic group is strengthening its provision of statutory audit and other audit services.
"We decided on the acquisition primarily due to the experience and great flexibility of the entire ADUKO team. Simultaneously, we are continuing our strategy to be closer to our clients and expand our operations not only sector-wise but also geographically. With the acquisition of this new company, we are expanding our presence in the East Bohemian region," states Petr Kymlička, partner at Moore Czech Republic.
Strengthening Position in East Bohemia
The company, now under the Czech representation of the Moore group, boasts experienced audit experts. Existing clients include legal entities such as joint-stock companies, limited liability companies, and cooperatives, as well as state-owned enterprises and contributory organizations.
"I am very pleased that we are succeeding in meeting our strategic development goals. I would like to see our audit company, Moore Audit CZ, among the top 10 audit firms in the Czech Republic in the foreseeable future. We are growing both organically and by seeking suitable acquisitions of smaller audit firms. Their great advantage is their geographical distribution, as well as qualified and experienced specialists who know the local market," concludes Erik Ďurkáň, Director of Moore Audit CZ.
Moore Audit CZ currently has approximately 30 audit experts and regional offices in Prague, Brno, Příbram, and newly in Pardubice.
Moore Czech Republic group has acquired ADUKO, a Czech firm, to bolster its audit services, including statutory audits. This acquisition aligns with their strategy to enhance client proximity and expand their geographic and sector reach. The addition of ADUKO strengthens Moore's presence in East Bohemia, bringing experienced audit professionals and a client base of various legal entities and state organizations. Moore Audit CZ aims to become a top 10 audit firm in the Czech Republic through organic growth and strategic acquisitions of smaller, geographically diverse audit companies with qualified local specialists. The company now has around 30 audit experts and offices in Prague, Brno, Příbram, and Pardubice.
Miroslav Řezníček to Become the New Chairman of the Board and CEO of Servodata
5/5/2021
Miroslav Řezníček has been appointed as the new Chairman of the Board and CEO of Servodata. He will focus on implementing a development strategy centered on large IT solutions, cybersecurity, and spec
Miroslav Řezníček has been appointed as the new Chairman of the Board and CEO of Servodata. He will focus on implementing a development strategy centered on large IT solutions, cybersecurity, and specific projects for industry and transportation. His mission includes Servodata's expansion into Central and Eastern Europe.
Řezníček brings extensive experience in IT management, sales team leadership, and business development in both public and corporate sectors. He aims to leverage Servodata's integration into Moore Czech Republic to expand its product offerings, business reach, and regional presence, with the goal of doubling its turnover within three years and significantly increasing efficiency.
Previously, Řezníček served as CEO and Chairman of ČD Telematika, transforming it into a company ready for business opportunities in the transportation sector and offering high-value IT services. He also held the position of Director for the Czech Republic at Asseco Central Europe and served as CEO of DELL Slovakia.
His focus will be on developing existing ICT services, expanding the product portfolio, and building a cross-sector sales team. He sees opportunities in linking Servodata's products with industrial and transport entities, offering services in collaboration with Moore Czech Republic. Key areas include cybersecurity, robotic process automation, and artificial intelligence within Industry 4.0. Moore Czech Republic plans to utilize Řezníček's international experience for Servodata's expansion. He holds degrees from Czech Technical University and the University of Chicago (MBA).
In June, a new law on the register of beneficial owners will come into effect, and entrepreneurs may face sanctions.
4/30/2021
A new law regarding the register of beneficial owners comes into effect in June, potentially imposing sanctions on businesses. Moore Legal CZ highlights that unlike previous regulations, the new law i
A new law regarding the register of beneficial owners comes into effect in June, potentially imposing sanctions on businesses. Moore Legal CZ highlights that unlike previous regulations, the new law introduces penalties for failing to register beneficial owner information.
The obligation to register applies to legal entities and trusts. A significant change is the requirement for beneficial owners of corporations to be natural persons. Complex ownership structures must trace the beneficial owner to the ultimate natural person. If this identification is impossible, individuals in top management, such as board members, will be registered as beneficial owners. The law also introduces an "automatic registration" for companies with simple ownership structures, especially when the beneficial owner is evident from the commercial register.
A beneficial owner is defined as any natural person who is the ultimate beneficiary or has ultimate control, either directly or indirectly. This includes individuals who could receive a substantial portion of the entity's profits or those who can exert decisive influence.
For corporations, this includes individuals entitled to over 25% of the profit, assets, or liquidation balance, or those holding a significant share of voting rights exceeding 25%. Failure to register can result in fines of up to 500,000 CZK for individuals, prohibition of profit distribution, or restriction of voting rights in the company's highest governing body. The new law is taken seriously and should be handled with urgency. A portion of the beneficial owner register will also be publicly accessible through the Ministry of Justice's website.
Czech artificial intelligence detects two and a half times more illegal electricity consumption than conventional methods. It will also predict water and gas pipeline failures.
4/29/2021
A Czech AI application, Visual Grid Analytics (VGA) developed by Mycroft Mind, is being used by major energy companies like Iberdrola. Trained on over 20 billion smart meter measurements, it maps ener
A Czech AI application, Visual Grid Analytics (VGA) developed by Mycroft Mind, is being used by major energy companies like Iberdrola. Trained on over 20 billion smart meter measurements, it maps energy grid behavior, detects electricity theft (2.5 times more effectively than traditional methods), predicts water and gas pipeline failures, and helps manage the integration of electric vehicles and renewable energy sources.
VGA creates a 3D digital twin of the distribution network, displaying real-time data and analytical results in an understandable format. This allows for better understanding of the network's behavior as a whole, identifying problems and their impacts. The technology isn't limited to electricity; it works for water, gas, and heat distribution, analyzing data, predicting consumer behavior, and detecting anomalies. For water and gas networks, it can prevent failures by evaluating pressure.
Mycroft Mind, part of Moore Czech Republic, specializes in data collection, processing, and advanced analytics for technical networks using machine learning. They have worked with various clients, including energy distributors and manufacturers. VGA also considers weather conditions and seasonal changes in its analysis.
Most Czechs would welcome a four-day work week. Companies also see advantages in it, but are not yet considering its implementation.
3/12/2021
**Translation:**
Most Czechs would welcome a four-day work week. Companies also see benefits in it, but are not yet considering its implementation. Nearly four out of ten people currently work more t
**Translation:**
Most Czechs would welcome a four-day work week. Companies also see benefits in it, but are not yet considering its implementation. Nearly four out of ten people currently work more than 40 hours a week. A survey conducted by Ipsos for Moore Czech Republic revealed that two-thirds of managers of small and medium-sized companies are also positive about the idea. However, one-fifth of managers believe that such a move would be detrimental to companies.
The proposed shortened work week would involve limiting work to four days, reducing working hours from 40 to 35. Sixty percent of Czechs would like this, even if it meant working more intensely during those four days. However, over a fifth would not welcome a shorter work week, preferring to spread their work over five days for a calmer pace.
Almost two-thirds of managers believe it would increase productivity and employee satisfaction. Conversely, over a fifth believe it would harm companies, reducing work output and performance. Only thirteen percent of managers are considering implementing a shortened work week in the next five years; a quarter reject the idea, and half are unsure. One-fifth believe all weekly work duties could be completed in four days without increased daily productivity. One-third believe it would only be possible with increased productivity. Sixteen percent of managers say even five days are not enough.
In Europe, a maximum 40-hour work week is most common. The longest working hours are in Liechtenstein and Switzerland (up to 50 hours), while the shortest are in France, Denmark, and Belgium (38 hours). A four-day work week cannot be implemented in every industry or for every position, especially where employees need to be readily available to customers.
**Summary:**
A survey in the Czech Republic reveals that a majority of Czechs and a significant portion of managers in small to medium-sized businesses are in favor of a four-day work week. Most Czechs surveyed, and a two-thirds of managers believed it would increase productivity and employee satisfaction. However, concerns exist regarding the feasibility of completing all tasks in a shorter timeframe, with some fearing reduced work output and performance.
While many are open to the idea, only a small percentage of companies are actively considering implementation in the near future. A significant portion of managers believes increased daily productivity would be necessary to make a four-day work week viable. Some believe that five days are needed to complete the work. The study also points out that implementing a four-day work week might not be suitable for all industries, especially those requiring constant employee availability. The 40-hour week remains the most common in Europe, with shorter and longer averages existing in specific countries.
Technology company Servodata from the Moore Czech Republic group is preparing for an investor entry, Romanian IT leader Bittnet is to acquire a 35% stake
3/11/2021
The technology company Servodata, part of the Moore Czech Republic group, is preparing for an investor entry, with Romanian IT leader Bittnet acquiring a 35% stake. This strategic move aims to strengt
The technology company Servodata, part of the Moore Czech Republic group, is preparing for an investor entry, with Romanian IT leader Bittnet acquiring a 35% stake. This strategic move aims to strengthen their market position in Central and Eastern Europe, targeting an annual revenue growth of at least 20%. Both Servodata and Bittnet focus on developing and implementing technological infrastructure, IT consulting, and cybersecurity.
For Bittnet, this acquisition marks its first cross-border transaction. The collaboration seeks to establish a strong regional player and accelerate the growth of both entities. Moore Czech Republic will retain a 65% stake in Servodata.
Bittnet, focusing on IT solutions and training in Romania and internationally, includes companies specializing in transformational training, cloud solution integration, and cybersecurity. They aim to expand across Central and Eastern Europe. Servodata specializes in designing, implementing, and supporting technological infrastructure, IT consulting, and IT outsourcing. They also focus on developing business process and portal solutions, with recent significant investments in cybersecurity. With this transaction, Bittnet and Moore Czech Republic aim to increase Servodata's annual revenue by at least 20%.
Transaction activity will increase by tens of percent in sectors most affected by the pandemic, generational change will also accelerate company sales
3/7/2021
**Translation:**
TRANSACTION ACTIVITY IN SECTORS HARDEST HIT BY THE PANDEMIC WILL INCREASE BY TENS OF PERCENT, COMPANY SALES WILL BE ACCELERATED BY GENERATIONAL CHANGE
Roman Macháček
March 7, 2021
**Translation:**
TRANSACTION ACTIVITY IN SECTORS HARDEST HIT BY THE PANDEMIC WILL INCREASE BY TENS OF PERCENT, COMPANY SALES WILL BE ACCELERATED BY GENERATIONAL CHANGE
Roman Macháček
March 7, 2021
Larger players with sufficient capital will be able to take advantage of the current disadvantageous position of entrepreneurs in these sectors and their possible insolvencies. On the other hand, companies involved in technology development or industrial automation will be in a stronger position vis-à-vis investors. Generational change in family businesses, which began in our region approximately five years ago, may also increase the number of transactions.
According to the consulting company Moore Czech Republic, the pandemic favors large players in the market in terms of transaction activity, especially in gastronomy and tourism, i.e. in areas that have been most affected by anti-epidemic measures.
"Investors who have sufficient capital will be able to acquire these assets at lower prices, consolidate them and build larger units. We therefore expect transaction activity in these sectors to increase by a lower tens of percent this year compared to last year," says Petr Kymlička, partner at Moore Czech Republic.
The price of technology companies will increase
The past period, on the other hand, strengthened companies that deal with industrial automation, the development of technologies for complex remote work, or virtual and augmented reality. This makes it possible, for example, to introduce highly efficient remote repair and maintenance processes.
"It can be expected that companies from these fields will be in demand on the market and demand for them will increase. They will therefore be traded at higher prices than in the previous period. These companies are aware of the lack of human resources, which they are replacing with their technologies. The mentioned effect was exacerbated by the pandemic, especially in industrial enterprises, where a large part of foreign workers ceased to be available," explains Petr Kymlička.
According to Moore Czech Republic, there will also be an intensification of generational change in the ownership of family businesses in the coming years. This process began to appear more significantly among Czech companies in the last five years, and should gain momentum this year and next year.
"The current situation will strengthen the motivation of the current generation of owners to hand over companies to the younger generation. The latter, on the other hand, will show greater reluctance and fear of taking over companies on their own responsibility," adds Václav Škapa, partner of the company and expert in transaction consulting. For these reasons, according to him, the role of foreign strategic investors, whose aim is to strengthen their position in the region, could strengthen on the Czech market.
The second half of the year in the sign of growth
According to Moore Czech Republic, the growth of transaction activities will be reflected only in the second half of the year. There will also be a "restart" of transactions that were delayed or interrupted last year.
"Despite significant restrictions in 2020, we managed to complete twenty medium-sized transactions across various segments of the economy, especially in industry and technology. The number of active mandates increased by fifteen percent year-on-year," says Václav Škapa. A factor that could slow down mergers and acquisitions, on the other hand, are differences in price expectations.
"While sellers will tend to base their expectations on performance in times of growth, buyers will take into account risk factors in valuations that they did not take into account a year ago. Overall, however, we see 2021 as very promising from the point of view of transaction consulting," adds Petr Kymlička.
**Summary:**
Moore Czech Republic anticipates increased transactional activity in sectors heavily impacted by the pandemic, such as gastronomy and tourism, as larger companies capitalize on distressed assets. Conversely, technology and industrial automation firms will command higher prices due to increased demand fueled by labor shortages and the need for remote solutions. A generational shift in family business ownership, already underway, is expected to accelerate, potentially driving more foreign strategic investment as younger generations express reluctance to take over. While differing price expectations between buyers and sellers may pose a hurdle, the overall outlook for transactional consulting in 2021 is positive, particularly in the latter half of the year, as delayed transactions resume and activity increases in industry and technology.
Asian Economies Outpace Europe in Economic Growth, Aided by Rapid Pandemic Recovery
2/19/2021
Asian economies are outpacing Europe in economic growth due to their faster recovery from the pandemic. China's economy, for example, rebounded to pre-pandemic levels in the last quarter of 2020, whil
Asian economies are outpacing Europe in economic growth due to their faster recovery from the pandemic. China's economy, for example, rebounded to pre-pandemic levels in the last quarter of 2020, while the EU economy contracted by 6.4% in the same year. China's GDP grew by 2.3% in 2020, exceeding 100 trillion yuan. The EU economy, however, shrank by 6.4%, with Spain, Italy, and France experiencing the largest declines. The Czech Republic fared better with a 5.6% decrease.
Asian economies are benefiting from China's stable supply chain and are not hindered by the strict restrictions seen in Europe. Japan and South Korea are also experiencing economic growth. While Japan's GDP declined in the first half of 2020, it rebounded in the third and fourth quarters. South Korea also saw growth in the latter half of the year, nearly returning to pre-pandemic levels. China's import and export values increased by 1.6% year-on-year. However, the tourism sector is weakening across Asia. While China's PMI was lower than the EU's at the end of the year, retail sales increased, and unemployment stabilized, with 12 million new jobs created.
COVID program compensation for training companies does not reflect actual losses; the impending collapse of hundreds of them will slow down the economic recovery.
2/9/2021
Compensation for training companies in COVID programs does not match actual losses, threatening the closure of hundreds of them, which will slow down the economic restart.
The primary issue is that f
Compensation for training companies in COVID programs does not match actual losses, threatening the closure of hundreds of them, which will slow down the economic restart.
The primary issue is that financial support is only granted for months when operations were mandatorily suspended. According to Moore Czech Republic, compensation should reflect real costs, irrespective of employee numbers or closure periods. They estimate hundreds of training facilities are at risk of closure due to financial difficulties, which will impede economic recovery.
Training centers lost most of their income last year due to extraordinary measures, affecting their spring and autumn peak seasons. While government restrictions limited or banned their activities, educational companies could operate during summer months, typically a period of low revenue. This timing is considered incorrect by experts like Radovan Hauk, who argues compensation should be based on proven revenue drops or fixed costs, as seen in other countries, not just formal closures.
Postponed courses led to additional expenses. Due to the pandemic, demand for courses was even lower in the summer, with people prioritizing holidays and fearing infection. Companies rescheduled courses for autumn to partially offset losses, but training was again significantly restricted or banned. Michaela Jankulárová from S-COMP highlights that course planning takes weeks, meaning businesses incurred extra costs from last-minute cancellations.
A further problem with the COVID Gastro program's compensation, specifically for closed establishments, is the focus on employee numbers. This metric often doesn't align with actual fixed operational costs. Training companies typically have low internal staff numbers, with the most significant fixed costs being rent for training spaces. Hauk notes that if training were categorized alongside events like congresses, recognized support days would be 76, while companies were effectively unable to operate for almost three-quarters of the year.
Moore Czech Republic estimates government compensation covers only 40-50% of last year's economic losses. Many are small entities that have exhausted their reserves and cannot secure bank financing, leading to the potential closure of hundreds of businesses. These companies are crucial for economic restart, providing retraining necessary due to rising unemployment. A shortage of training capacity could therefore significantly slow the Czech economic recovery.
Moore Czech Republic Advisory Group Creates Integrated Holding Structure, Aims to Compete with the "Big Four"
1/28/2021
Moore Czech Republic has established a unified holding structure to compete with the "Big Four" advisory firms by offering comprehensive services. Their aim is to secure the fifth position in the Czec
Moore Czech Republic has established a unified holding structure to compete with the "Big Four" advisory firms by offering comprehensive services. Their aim is to secure the fifth position in the Czech market based on overall standing and to fully rival the "Big Four" in specialized areas. The group plans to achieve a turnover of one billion Czech crowns within five years.
The structure includes subsidiaries for management consulting and M&A (Moore Advisory CZ), audit services (Moore Audit CZ), accounting outsourcing and tax advisory (Moore Accounting CZ), information systems and technology (Moore Technology CZ), educational activities (Moore Academy CZ), and legal services (Moore Legal CZ). Some of these companies also own and integrate other entities.
Petr Kymlička, a partner, stated the goal is to be the fifth largest on the Czech market in size, but comparable to the "Big Four" in service quality and structure, aiming for the top three in corporate finance and accounting outsourcing. The group's competitive advantage lies in its unique combination of expertise, international experience, and practical, personalized solutions. They intend to differentiate themselves significantly in the technology sector.
Last fiscal year, Moore Czech Republic generated a consolidated turnover of approximately half a billion crowns, with a target to double this to one billion within five years through organic growth and acquisitions. For the current year, conservative growth of about ten percent is expected, focusing on integrating newly acquired companies.
Moore Czech Republic joined the global Moore Global network in 2020, a move that has significantly fueled its growth. John Stanford, European head of Moore Global, praised the team's efforts in building a compact, world-class service group and pledged continued support for their development.
Last year, eight companies were integrated through acquisitions to expand their service portfolio, primarily in audit, tax, accounting, and legal services, alongside several technology companies like Servodata, Mycroft Mind, and Care Plus Service. The group has also welcomed new partners, including Marcela Hrdá, Miloslav Rut, Václav Škapa, and Karel Kučera, alongside original partners of acquired firms, to oversee various business areas.
Data Mailboxes Could Be Mandatory for Other Legal Entities and the Self-Employed Besides Companies Due to the Discussed Amendment to the Law
1/26/2021
A pending amendment to the law could mandate data mailboxes for a broader range of legal entities and the self-employed, in addition to companies. If passed, the amendment would significantly expand t
A pending amendment to the law could mandate data mailboxes for a broader range of legal entities and the self-employed, in addition to companies. If passed, the amendment would significantly expand the circle of legal entities and self-employed individuals who would automatically receive a data mailbox. In certain cases, even non-business citizens could be issued data mailboxes.
The amendment aims to simplify establishing data mailboxes for both individuals and legal entities. Currently, data mailboxes are automatically created only for legal entities registered in the commercial register (firms). The amendment would extend this to other legal entities "registered in the register of persons," such as foundations and associations, as well as self-employed individuals.
The amendment could also change the automatic creation of data mailboxes for ordinary citizens after they first use a qualified electronic identification method. The proposal also unifies the delivery of private and public law documents. Documents are considered delivered when the authorized person logs into the data mailbox, or after 10 days if they don't log in. The goal is to prevent obstructions in delivering private law documents. The amendment should contribute to greater security of electronic communication and the overall development of eGovernment.
The automotive industry faced significant challenges in 2020 due to the global pandemic, resulting in a 23.7% decrease in car production in the EU to 9.94
Car production to stagnate at best in 2021.
The automotive industry faced significant challenges in 2020 due to the global pandemic, resulting in a 23.7% decrease in car production in the EU to 9.94 million vehicles, and a nearly 20% year-on-year drop in the Czech Republic. Although December saw an 8.7% increase in new car sales year-on-year, January 2021 witnessed a sharp 18.8% decline, continuing the downturn from the previous autumn.
A potential improvement in the epidemic situation, combined with vaccination efforts, might not be significantly felt until mid-year. Experts predict production volumes in the Czech Republic to either stagnate or decline by an additional five to seven percent in 2021. This, despite government support programs, could lead to job losses, exacerbated by the pandemic's acceleration of automation. Consequently, there is an anticipated rise in demand for retraining and employee transfers to other sectors.
The reduced demand for new vehicles impacts the entire automotive supply chain. Automakers are intensifying pressure on their suppliers, demanding lower prices and more favorable payment terms, while also reducing order volumes. Compounding these issues is the increased investment required for electromobility and automation, which aims to reduce reliance on labor. These factors will continue to complicate the Czech automotive industry's situation in the coming years.
Only about a tenth of Prague's sports facilities are accessible, a new sports development plan aims to help improve the situation
12/10/2020
Only about a tenth of Prague's sports facilities are accessible, and a new sports development plan aims to improve the situation. A survey by the Prague City Hall revealed that almost a third of sport
Only about a tenth of Prague's sports facilities are accessible, and a new sports development plan aims to improve the situation. A survey by the Prague City Hall revealed that almost a third of sports facility operators believe their venues are accessible. However, an analysis of facility records shows that only 9.6% are actually accessible, and even fewer are truly suitable for disabled athletes, often only allowing for passive participation.
The analysis highlighted several barriers faced by disabled athletes, including unsuitable field dimensions, poor surface quality, lack of accessible restrooms, and inadequate changing rooms. In response, the city, which owns 104 sports facilities, is preparing a new development plan to increase accessibility for disabled individuals. This plan emphasizes the construction of new, truly accessible facilities and greater involvement of organizations representing disabled athletes in assessing accessibility solutions.
The city council for sports stated the goal is to increase accessibility by building new venues and better involving disabled sports organizations in evaluating accessible solutions. Physical activity offers significant physical, mental, and social health benefits for people with disabilities, improving independence and quality of life. However, mere accessibility to a venue doesn't guarantee suitability for sports activities; proper social facilities are crucial for dignified participation.
To prepare the new strategy, Prague conducted surveys and held working group meetings involving various stakeholders, including organizations for disabled athletes, to address limited accessibility. It was noted that this is a systemic issue across the Czech Republic, with a lack of strict adherence to regulations concerning accessibility for all disabilities.
Moore Czech Republic strengthens audit services, also focusing on special IT audit
11/3/2020
Moore Czech Republic is strengthening its audit services with a focus on specialized IT audits. This includes evaluating companies' ICT technologies for technical and security aspects and suggesting o
Moore Czech Republic is strengthening its audit services with a focus on specialized IT audits. This includes evaluating companies' ICT technologies for technical and security aspects and suggesting optimizations. The company has incorporated six new specialists from the acquisition of Audit – Daně into its audit team, particularly to serve clients in the non-profit and public sectors. This acquisition also provided Moore Audit CZ with an office in Brno, in addition to their Prague offices, with future plans for expansion in northern Moravia and central Bohemia.
The IT audit is a new discipline, driven by regulatory demands requiring auditors to better understand clients' IT environments and conduct specific tests, especially when a client heavily relies on IT. Moore Czech Republic is partnering with Servodata to connect auditors with IT experts, providing comprehensive IT environment analyses, including strengths and weaknesses like authorization rights for system access. This is particularly relevant for manufacturing firms undergoing sophisticated automation, offering a comprehensive perspective from various specialists.
Moore Czech Republic is expanding its activities by introducing Moore Accounting CZ, specializing in accounting and tax advisory, and Moore Technology CZ, covering all technological activities. The group is also developing training and requalification services to actively assist clients in a changing world, ensuring their success.
New Petition Wants to Elevate Esports to the Level of Traditional Sports, Finds Inspiration in Germany
10/21/2020
A new petition aims to elevate esports to the same level as traditional sports, drawing inspiration from Germany. Created by the Czech Electronic Sport Association (CESA), comprising players, teams, a
A new petition aims to elevate esports to the same level as traditional sports, drawing inspiration from Germany. Created by the Czech Electronic Sport Association (CESA), comprising players, teams, and organizers, the petition argues that esports' growing global popularity warrants its recognition as an official leisure activity beneficial for both mental and physical well-being. This recognition would allow esports clubs and organizations to receive state support, mirroring that provided to other sports. Germany serves as a precedent, where esports clubs have achieved non-profit status, clarifying tax and donation frameworks and opening avenues for financial backing. The petition, addressed to the Czech government and National Sports Agency, highlights the discipline, strategic thinking, and skills required of esports players and seeks measures to equalize their standing with other sports. It has garnered support from hundreds of gaming community representatives and major international corporations. Esports' increasing professionalization, official tournaments, and marketing potential are attracting fans and sponsors. Experts believe that equalizing esports with traditional sports is crucial for its development in the Czech Republic, enabling it to remain competitive in this rapidly expanding sector. The petition can be signed physically and online.
Moore Czech Republic Group expands with unique Moore Technology CZ division concept
10/19/2020
The Moore Czech Republic group is expanding with the unique concept of the Moore Technology CZ division. This new company will serve as an umbrella platform for all technological activities within the
The Moore Czech Republic group is expanding with the unique concept of the Moore Technology CZ division. This new company will serve as an umbrella platform for all technological activities within the group, encompassing both conventional IT services and the development of progressive products, particularly in artificial intelligence.
Servodata will form the foundation for these technological endeavors, focusing on developing and implementing complex software solutions, including cybersecurity, providing service support and IT outsourcing, and undertaking sophisticated Industry 4.0 projects. Moore Technology CZ will also foster the development of other group companies, Care Plus Service, which aims to be a leader in assistive technologies, and Mycroft Mind, a specialist in high-efficiency analysis of large data volumes.
The group recently acquired a 60% stake in Mycroft Mind, a Czech company that has developed an innovative system for collecting, evaluating, and predictively analyzing large operational data from intelligent grids and IoT using robotic data processing, complex mathematical models, and AI. This system has significant applications, especially in the energy sector.
Mycroft Mind primarily targets the energy sector, specifically distribution networks, and industry. Their solutions help businesses monitor and analyze operations, identify and rectify deficiencies, and predict timely repairs. The acquisition of Mycroft Mind positions Moore Czech Republic at the forefront of AI utilization in distribution network management, with aspirations to become a key supplier for major energy companies in smart metering solutions.
A new strong player enters the accounting and tax consulting market: Moore Accounting CZ sees itself in the TOP 5
9/21/2020
Moore Accounting CZ, a new accounting and tax advisory firm within the Moore Czech Republic holding structure, aims to become a top 5 player in the Czech market within three years. The company will ex
Moore Accounting CZ, a new accounting and tax advisory firm within the Moore Czech Republic holding structure, aims to become a top 5 player in the Czech market within three years. The company will expand through internal growth and acquisitions, primarily targeting locations outside of Prague. Their first acquisition is Escape Consult, with offices in Prague, Brno, and Bratislava. Future expansion plans include establishing a presence in Ostrava and other major cities.
Petr Kymlička, partner at Moore Czech Republic, stated their goal is to become one of the largest accounting firms in the Czech Republic in terms of employees and turnover. Moore Accounting CZ plans to employ 90 to 100 people within a year and will focus on further technological development, particularly the digitization and robotization of accounting processes, supported by their subsidiary, Servodata. The firm's strategy includes both organic growth and strategic acquisitions to quickly scale its operations and market share.
Moore Czech Republic Expands Services. Moore Legal CZ is Established.
9/2/2020
Moore Czech Republic is expanding its services with the establishment of Moore Legal CZ. This new entity is supported by a team of experienced professionals, including three partners and 15 lawyers, o
Moore Czech Republic is expanding its services with the establishment of Moore Legal CZ. This new entity is supported by a team of experienced professionals, including three partners and 15 lawyers, operating from offices in Prague and Ostrava. Jan Kubica, the leading partner, highlights the advantage of joining the Moore network, enabling broader reach and collaboration with global clients. Petr Kymlička, a partner at Moore Czech Republic, views the integration of the legal team as a crucial step in strengthening their position in the Czech advisory market, noting their long-standing successful collaboration on projects, particularly in mergers and acquisitions. Moore Legal CZ prioritizes providing legal services in the IT sector, including cybersecurity, to meet the growing demands of Moore's international clientele. Moore Global is a major international network of audit and consulting firms with over 30,000 employees across 260 independent firms in 110 countries, established in 1907.
The Czech esports community will have half a million people in five years; in Germany it is already a fully-fledged sport.
8/10/2020
In five years, the Czech esports community is projected to reach half a million people, while in Germany, esports is already recognized as a full-fledged sport. Esports is globally gaining prominence,
In five years, the Czech esports community is projected to reach half a million people, while in Germany, esports is already recognized as a full-fledged sport. Esports is globally gaining prominence, attracting players, viewers, and sponsors. Viewership of esports events already surpasses traditional sports events. In the Czech Republic, roughly three million people are connected to esports, with an active core of 350,000 players and fans. This exceeds the number of registered members in the Czech Football Association.
If the Czech esports market follows global growth trends of 10-12% annually, it could reach 550,000-600,000 active participants in five years, with a market value potentially reaching 600 million Czech crowns by 2025, driven by technology, advertising and sponsorships. While traditional sports receive national support, esports currently doesn't, but has the potential to grow rapidly. Germany's recognition of esports clubs as non-profits provides a model for the Czech Republic to enhance its competitiveness.
The Czech Electronic Sport Association (CESA) is working to create a stable and ethical esports environment and advocating for state recognition of esports as a legitimate sport. Inclusion of esports in the Olympics is also considered as a potential path for further global development.
Pandemic strengthened the need to prepare officials for work from home. Equipment, security and training will cost tens of billions.
7/27/2020
**Translation:**
The pandemic highlighted the need to prepare government officials for remote work. Equipment, security, and training will cost tens of billions. The pandemic accelerated the shift to
**Translation:**
The pandemic highlighted the need to prepare government officials for remote work. Equipment, security, and training will cost tens of billions. The pandemic accelerated the shift to online operations for many companies, prompting them to adopt mandatory or recommended "home office" policies. However, the transition to remote work for civil servants was often complicated or even impossible.
Changing operational models is easier in the private sector than in public administration. Companies can relatively easily replace or modify their IT systems and infrastructure or change their processes. In the public sector, such changes are more complex due to technical limitations, information security requirements, and the inability to react quickly to infrastructure adjustments.
Documents often cannot leave government buildings, and legislation for remote work is still not fully defined. While the public administration has been working on digitization for several years, the emergency situation revealed that offices are not fully prepared for remote work. The pandemic has accelerated plans to strengthen both cybersecurity and infrastructure to meet future needs.
Besides security enhancements, public administration workers need adequate equipment and training for remote access. The state had considered these measures previously, but cybersecurity was not a priority. Massively strengthening information and communication technologies in the public sector will require significant investments in technology and human resources. Failure to prioritize this area could lead to significant damage from cybercrime. The transition to a virtual office concept will take several years.
In addition to technology and remote work procedures, the state sphere lacks modern, single-purpose administrative applications for efficient automation of administrative processes. Modernizing and automating internal processes to enable full remote operation during similar disruptions will take several years, including legislative changes, supplier selection, and implementation.
**Summary:**
The COVID-19 pandemic exposed the unpreparedness of the Czech public administration for remote work, unlike the private sector which adapted relatively easily. Civil servants faced challenges due to outdated IT infrastructure, security concerns, legislative gaps, and the inability to access physical documents. Addressing this requires significant investments, estimated at tens of billions, in cybersecurity, equipment, and training to enable secure and efficient remote access for government employees. Modernization also necessitates developing single-purpose administrative applications for process automation. ICT union stated that transitioning to a fully functional virtual office concept will be a multi-year endeavor, requiring legislative adjustments, vendor selection, and implementation. Prioritizing these improvements is crucial to prevent future disruptions and minimize potential damage from cybercrime, ensuring the public sector can operate effectively in emergencies.
Mass home office brought companies up to a third reduction in productivity, cybersecurity is also a problem.
5/17/2020
Mass home office has led to a third reduction in productivity for companies, with cybersecurity also being a problem.
A survey by consulting firm Moore Czech Republic among its clients found that wid
Mass home office has led to a third reduction in productivity for companies, with cybersecurity also being a problem.
A survey by consulting firm Moore Czech Republic among its clients found that widespread home office has reduced productivity by up to one-third. Companies are also frequently using unsecured communication applications like Zoom. Home environments pose cybersecurity risks, often formally preventing work with sensitive data or confidential conference calls.
The shift to remote work in early March impacted many Czech employees. Moore Czech Republic's analysis revealed a 10% productivity drop in March, with a further decline to an average of one-third less efficiency in April compared to normal operations. This decline is attributed to entire teams being moved to home office regardless of suitability for remote work.
Cybersecurity risks at home are significant, with many employees lacking suitable secure remote work programs. Home environments increase the risk of sensitive data compromise. Commonly used communication programs are vulnerable, and while secure alternatives exist, their implementation is operationally challenging. Insufficiently secured home Wi-Fi is also a risk.
Adapting corporate culture to remote work takes years. Some employees, particularly in public administration, cannot work from home due to limitations on taking company laptops or using desktop computers, or because they cannot remove official documents from the office. Effective home office requires established processes for unexpected events like the current pandemic. While home office can work short-term, it is often unsustainable long-term. Fully adapting a company's culture to remote work can take several years.
Every company let in fake IT specialists sent under false pretenses. Approximately 70% of tested subjects fell for phishing, which involves fraudulent me
CYBERSECURITY
Ondřej Hubatka
April 15, 2020
Every company let in fake IT specialists sent under false pretenses. Approximately 70% of tested subjects fell for phishing, which involves fraudulent messages requesting sensitive data.
Servodata conducted cybersecurity tests on its clients last year and this year to assess how employees adhere to standard IT security measures. The company's experts executed phishing attacks, aiming to illicitly obtain sensitive employee data or infiltrate client systems with malicious software, achieving a 70% success rate.
They also tested "baiting" by placing flash drives on office desks. In 60% of cases, employees plugged these unknown drives into their computers, despite the potential presence of harmful software.
Fake IT professionals gained 100% access. When posing as IT specialists, these individuals successfully accessed employee workstations by claiming to be sent by management. This highlights the vulnerability even to those who appear legitimate.
Servodata's CEO, Miroslav Kvapil, emphasized that threats can originate anywhere, including from within an organization's own staff. He stressed that hackers are becoming increasingly inventive, rendering conventional security measures insufficient. Continuous education on fundamental practices for handling company hardware and software is essential, as the leakage of sensitive information like trade secrets can significantly harm an organization. Servodata focuses on cutting-edge cybersecurity technologies and comprehensive IT support, from development and analysis to testing.
Cybercrime is on the rise in the Czech Republic, affecting government entities, individuals, and businesses. Czech Police data shows a year-on-year increase in cybercrime incidents, with nearly 8,500 cases in 2019. Unlike attackers, many organizations and individuals are not adapting to new methods and technologies.
Cybersecurity heavily relies on end-user behavior. Petr Kymlička, a partner at Moore Czech Republic, states that organizations, both private and public, must prioritize robust IT security against external and internal threats, identify potential risks, manage them effectively, and conduct consistent employee education.
Companies are increasingly issuing bonds in smaller volumes to finance specific projects. This approach is bringing the Czech Republic closer to Western
CORPORATE BONDS
Ondřej Hubatka
April 2, 2020
Companies are increasingly issuing bonds in smaller volumes to finance specific projects. This approach is bringing the Czech Republic closer to Western states, with experts predicting convergence in the structure and use of bonds within seven to ten years.
The Czech corporate bond market saw a significant shift in 2016, with the number of securities jumping from under four thousand to over 13 thousand. By late 2019, this figure had doubled. Companies, particularly those previously rejected by banks for loans due to short operating history or lack of collateral, have embraced bond financing. Banks are tightening lending conditions, making it harder for businesses, especially those operating in rented spaces like shopping centers, to secure loans as property cannot be used as collateral.
Bonds are also favored for their simplicity and flexibility compared to bank loans. While bank loans require detailed justification of fund usage and phased disbursement, corporate bonds offer capital with the sole obligation of repayment, without the need to prove how the funds are utilized. This flexibility makes bonds an attractive alternative for companies that can't clearly articulate their plans or simply find the bond issuance process more straightforward.
However, corporate bonds often carry higher risk. Yields typically range from five to eleven percent, but this is coupled with an increased risk of default. Estimates suggest up to twenty percent of issuers may struggle with repayment, a risk exacerbated by the current economic climate due to the coronavirus pandemic, posing a further threat to less creditworthy corporate bonds.
In Germany and France, small and medium-sized enterprises (SMEs) now dominate the bond market, a shift from large corporations. Czech Republic has also seen a rise in corporate bond issuance by SMEs, following the trend of large firms like Škoda Auto pioneering the market in 2000.
Moore Global is a leading international network of audit and advisory firms, employing over 30,000 professionals across more than 260 independent firms in 110 countries.
Moore Czech Republic, led by managing directors and partners Petr Kymlička and Radovan Hauk, is based in Prague and employs over 130 people within the group. It br
**Moore Enters the Czech Republic**
Moore Czech Republic, led by managing directors and partners Petr Kymlička and Radovan Hauk, is based in Prague and employs over 130 people within the group. It brings its specialized subsidiaries Servodata, DataScript, and S-COMP, focused on IT and education services, under the Moore brand. The group aims to be among the top five consulting firms in the Czech market in terms of turnover.
Moore Czech Republic specializes in management consulting and corporate finance, experiencing rapid growth in Central Europe and attracting large, medium-sized companies, and public sector institutions. Key areas of focus include industry, energy, social services, public administration, and IT/telecommunications. The global network will support Moore Czech Republic's ambitious plans to develop comprehensive services, including audit, tax consulting, and accounting outsourcing, within 12–18 months.
Moore Global CEO Anton Colella welcomed the company, citing its ambition and proven growth, noting their focus on consulting is timely, as clients need professionals offering complete, expert solutions. Petr Kymlička and Radovan Hauk expressed excitement about joining the global network to support their growth and expand their services to include a full spectrum of consulting and auditing capabilities, aiming for growth both domestically and globally through collaboration with other Moore member firms.
We invite you to the 6th annual International Congress of Family Businesses, taking place from September 18-19, 2025, at Château Bela near Štúrovo. Organized by th
Dear Clients and Business Partners,
We invite you to the 6th annual International Congress of Family Businesses, taking place from September 18-19, 2025, at Château Bela near Štúrovo. Organized by the Institute of Family Business, this congress serves as a platform for sharing experiences, fostering new collaborations, and building the future of family entrepreneurship.
The event features two days of inspiration, eleven practical workshops, individual 1:1 consultations, an evening program, and a festival for family businesses. A key workshop, "The Future of the Family Business: Financing, Investor, or Exit?", led by Moore BDR, a family advisory firm with over 30 years of experience, will provide insights into preparing family businesses for growth, partnerships, or a dignified exit.
The workshop will cover crucial topics such as when and why to seek external financing, understanding investor expectations, preparing a business and family for an investor's entry from legal, economic, and family perspectives, avoiding common negotiation mistakes, comparing investor entry with generational succession, and planning for an exit, including legal and financial due diligence. The session will also include practical case studies and a Q&A session.
Recognizing that each family business has unique circumstances, the congress offers individual consultations with experts to address specific challenges. We look forward to your participation. For more information and registration, please visit the provided link.
The International Congress of Family Businesses is an invaluable opportunity for family businesses to gain strategic insights, connect with peers, and prepare for future success. The focus on financing, investment, and exit strategies addresses critical aspects of long-term business sustainability and family legacy. The practical advice and expert-led discussions aim to empower owners and managers to navigate complex decisions with confidence. Don't miss this chance to enhance your family business's future.
The Ministry of Finance of the Slovak Republic is preparing an amendment to the VAT Act to introduce mandatory electronic invoicing for all VAT payers, effective January 1, 2027. This new system will
The Ministry of Finance of the Slovak Republic is preparing an amendment to the VAT Act to introduce mandatory electronic invoicing for all VAT payers, effective January 1, 2027. This new system will require taxpayers to issue invoices exclusively in electronic format and report invoice data to the financial administration in real-time. The goal is to digitize invoicing, reduce administrative burdens, enhance tax system transparency, and combat VAT tax evasion in the digital age through the ViDA initiative.
The proposed changes will primarily affect taxable persons based in Slovakia and transactions with a place of supply within Slovakia, including prepayments. Initially, mandatory e-invoicing will apply to domestic transactions until June 30, 2030, after which the Slovak system will integrate with the European EU DRR system for cross-border transactions. The primary tool for this electronic invoicing will be a new system called PEPPOL BiS 3.0. A unified structured electronic format, based on the STN EN 16931 standard, will be implemented.
Under the new regulations, e-invoices must be issued within 10 days of the supply of goods or services, receipt of payment before supply, or correction of the tax base. Summary e-invoices for multiple supplies in a calendar month also have a 10-day deadline from the end of that month. Recipients have 5 days from receipt to report invoice data. This reform replaces paper-based or informal electronic invoicing with a mandatory, structured electronic process.
While e-invoicing offers benefits like automation and transparency, it also presents potential drawbacks for SMEs, including technical issues, initial costs for software adaptation, security risks, reduced flexibility, and the need for enhanced IT skills. Businesses are advised to verify software compatibility, leverage direct integration with the financial administration, and train their staff for the new procedures. After July 1, 2030, the system will link with the EU DRR system, and the control and summary reports will be abolished. It's important to note that the final form of the legislation may change during parliamentary approval.
National MDR – Systemic Necessity or Excessive Formalism?
7/16/2025
Reportowanie schematów podatkowych (MDR) to obowiązek informacyjny mający na celu zwalczanie agresywnej optymalizacji podatkowej i zwiększenie transparentności systemu podatkowego. Dane z MDR są anali
Reportowanie schematów podatkowych (MDR) to obowiązek informacyjny mający na celu zwalczanie agresywnej optymalizacji podatkowej i zwiększenie transparentności systemu podatkowego. Dane z MDR są analizowane przez administrację skarbową, co może prowadzić do kontroli. Aby system był skuteczny, informacje muszą być aktywnie wykorzystywane, a nie tylko gromadzone. Niewykorzystywanie danych podważa zaufanie podatników i instytucji.
Skuteczność MDR wymaga precyzyjnego kierowania kontroli, wykorzystania sztucznej inteligencji do identyfikacji ryzykownych schematów, systematycznej weryfikacji zgłoszeń oraz publikowania raportów i wytycznych. Bez tych działań MDR ryzykuje staniem się martwym przepisem. Nowelizacja przepisów w 2025 r. ma na celu dostosowanie definicji do wymogów UE, uporządkowanie kwestii tajemnicy zawodowej, wprowadzenie białej listy wyłączeń z raportowania oraz zwolnień podmiotowych.
Raportowanie krajowych schematów podatkowych, które stanowią większość zgłaszanych przypadków, jest kluczowe dla uczciwej konkurencji i uszczelnienia systemu. Mechanizmy psychologiczne, takie jak zaufanie do organów, postrzeganie sprawiedliwości i kalkulacja ryzyka, wpływają na zgodność podatkową. Brak reakcji administracji na nieraportowanie schematów zniechęca do dobrowolnego przestrzegania prawa.
Eksperci wskazują, że polskie przepisy MDR są szerokie, obejmując krajowe schematy i transakcje VAT, co może stanowić nadmierne obciążenie. Brakuje jednak kontroli i sankcji, mimo wysokich kar. Zapowiadana nowelizacja ma uprościć system, zwęzić zakres raportowania i doprecyzować definicje. Skuteczność MDR zależy od jego praktycznego wykorzystania przez administrację.
Employees over 55: Companies value their loyalty, but prejudice and technology hinder their recruitment
7/21/2025
Employees Over 55: Companies Value Loyalty, But Prejudice and Technology Hinder Recruitment
A survey by Moore Czech Republic, in collaboration with the Association of Personnel Managers, reveals that
Employees Over 55: Companies Value Loyalty, But Prejudice and Technology Hinder Recruitment
A survey by Moore Czech Republic, in collaboration with the Association of Personnel Managers, reveals that over three-quarters of HR professionals in the Czech Republic believe employees over 55 are disadvantaged in the job market. Obstacles cited include technological adaptation, health limitations, and deeply ingrained age stereotypes. Despite these challenges, 82% of respondents acknowledge that employees aged 55 and older bring extensive work experience.
The survey, involving 101 HR professionals, found that 78% of HR experts believe older employees face disadvantages compared to their younger counterparts. Specifically, 73% consider candidates aged 55-59 to be a problem, and 90% view those 60 and over as facing significant age-related hiring barriers. Perceived drawbacks include shorter expected tenure (24%), higher salary expectations (25%), fear of workplace ageism (44%), concerns about age-related health issues (55%), and difficulty adapting to new technologies (64%). Interestingly, employees themselves confirmed these concerns, with 69.3% recognizing technology adaptation as a barrier.
Despite these hurdles, HR professionals highly value older employees for their stability and loyalty (88.1%), rich work experience (82.3%), and good communication skills (18.8%). Many see them as equally or more qualified than younger colleagues and 37.6% highlight their mentoring capabilities. However, while HR professionals suggest mentoring by younger colleagues as a support mechanism, older employees themselves prioritize increasing employer awareness of their benefits (46.5%) over such programs. They feel their know-how and contributions to workplace diversity are often undervalued.
Company Run 2025 – #MoorePolskaTeam together for children, together for good
7/23/2025
The Firm Run 2025 has concluded, leaving behind a wave of enthusiasm. This significant event, which merges athletic energy with tangible support for those in need, once again brought together tens of
The Firm Run 2025 has concluded, leaving behind a wave of enthusiasm. This significant event, which merges athletic energy with tangible support for those in need, once again brought together tens of thousands of participants from across Poland. This year, nearly 40,000 individuals representing over 1,300 companies took part, with Moore Polska achieving a record-breaking participation of 100 representatives. The #MoorePolskaTeam collectively covered 500 kilometers, contributing to a noble cause and demonstrating that helping others is a shared priority.
The Firm Run is a nationwide initiative, organized annually by the Everest Foundation, showcasing how sports can serve a social purpose. Its online format allows participants to run or walk anywhere they choose, with the focus being on completing a 5-kilometer distance and the commitment to providing assistance. The primary objective of the Firm Run is to support children with disabilities and chronic illnesses. In this year's event, aid will be provided to 20 beneficiaries of the Everest Foundation, with the collected funds designated for their treatment, rehabilitation, and daily needs. This event fosters intergenerational connections, team integration, and highlights the profound, long-term impact even a short run can have on someone's life.
Moore Polska's involvement in the Firm Run transcends mere physical activity, representing a deliberate choice aligned with their values and social commitment. In 2025, they once again proved their collective strength, extending beyond audit and consulting projects to embrace social initiatives. While not competing for top ranks, Moore Polska employees gave their all, with the best individual time being an impressive 20 minutes and 38 seconds, and the fastest team completing the distance in 2 hours, 33 minutes, and 25 seconds. For many, it also marked the beginning of a regular fitness routine, emphasizing the importance of these personal victories. This commitment to the Firm Run is a testament to Moore Polska's ESG strategy, emphasizing responsibility and sustainable development. They believe social responsibility begins with daily decisions, which is why they actively support social, environmental, and educational initiatives, engage in equality efforts, activate local communities, and encourage employee volunteering.
The Firm Run serves as a symbol of collective effort, solidarity, and empathy. Moore Polska is proud to be part of this initiative, thanking all participants for their kilometers, dedication, and willingness to act. They look forward to seeing everyone again at the Firm Run 2026.